secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2025-02-21T23:59:59+00:00
Accession:  0001628280-25-007070
Event type: earnings
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 2.03, 2.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot National reports preliminary Q4 net loss of $9.5M; book value crashes to $1.07 from $11.16
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- Preliminary Q4 2024 net loss ~$9.5M ($2.40 loss per share) vs prior year net income $0.9M ($0.23 EPS).
- Provision for credit losses ~$7.7M primarily on two large commercial real estate loans.
- Book value per share fell to $1.07 as of Dec 31, 2024, from $11.16 a year earlier.
- Extended grace period for Jan 15 interest payment on 8.5% Senior Notes to April 1, 2025.
- Negotiating ~$60M equity investment at $0.75/share to recapitalize bank and address debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025007070/0001628280-25-007070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025007070/pnbk-20250214.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-007070

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