Patriot National Bancorp Inc (NASDAQ: PNBK) is a community banking company that operates through its subsidiary bank to originate loans and gather deposits. Revenue is generated primarily through net interest income on a loan portfolio concentrated in commercial real estate, commercial and industrial, residential real estate, and SBA loans, supplemented by gains on loan sales. As of December 31, 2025, commercial real estate represented 58.4% of total gross loans and commercial and industrial loans represented 24.8%, with a net loan-to-deposit ratio of 60.6%. The Bank operates under a Formal Agreement entered into with the Office of the Comptroller of the Currency (OCC) in January 2025, requiring remediation across capital, governance, and risk management. Management is repositioning the business toward relationship-driven banking and specialized financial services for selected customer segments, having exited or curtailed certain non-core activities during 2025. The holding company relies on dividends from the Bank to fund its expenses and debt service obligations.

Revenue model

Net interest income on loans secured primarily by commercial real estate and commercial and industrial credits, plus gains on sale of SBA loans held for sale and other loans. The Bank funds lending through customer deposits.

Products and services

Commercial real estate loans (58.4% of gross loans as of December 31, 2025), commercial and industrial loans (24.8%), residential real estate loans, consumer and other loans (3.4%), and SBA loans held for investment included within the commercial real estate and commercial and industrial categories. SBA loans in the commercial real estate category totaled $9.7 million and SBA loans in the commercial and industrial category totaled $8.7 million as of December 31, 2025.

Customers and end markets

Commercial real estate borrowers, commercial and industrial borrowers, small businesses (via SBA lending), and retail deposit customers. The Bank is refocusing on targeted customer segments aligned with its revised risk appetite following the January 2025 OCC Formal Agreement.

Value-chain role

Community bank and direct lender. Originates, holds, and selectively sells loans, primarily to commercial borrowers. The holding company is a separate legal entity dependent on upstream dividends from the Bank.

Geographic exposure

The filing excerpts do not specify operating states or branch counts. The Bank owns and operates certain properties subject to environmental liability risk associated with its real estate-secured lending activities.

Source: SEC 10-K, filed 2026-03-31

Industry: National Commercial Banks Peers: PINNACLE BANKSHARES CORP PNC Financial Services Group Inc