2023 Q2 Form 10-Q Financial Statement

#000162828023017965 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $15.31M $13.65M
YoY Change 58.04% 64.01%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $352.0K $275.0K
YoY Change 3.23% -14.86%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $7.596M $5.633M
YoY Change 286.17% 253.39%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$752.0K -$72.00K
YoY Change -143.19% -106.48%
Income Tax -$206.0K -$19.00K
% Of Pretax Income
Net Earnings -$546.0K -$53.00K
YoY Change -143.16% -106.63%
Net Earnings / Revenue -3.57% -0.39%
Basic Earnings Per Share -$0.14 -$0.01
Diluted Earnings Per Share -$0.14 -$0.01
COMMON SHARES
Basic Shares Outstanding 3.965M shares 3.965M shares
Diluted Shares Outstanding 3.965M shares 3.965M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $70.81M $60.25M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $30.26M $30.47M
YoY Change -2.78% -2.56%
Goodwill $1.107M $1.107M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.17M $17.39M
YoY Change 21.86% 26.44%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.163B $1.100B
YoY Change 10.82% 12.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $6.693M $5.982M
YoY Change -25.56% -38.45%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.693M $5.982M
YoY Change -25.56% -38.45%
LONG-TERM LIABILITIES
Long-Term Debt $30.12M $30.13M
YoY Change -1.69% -1.79%
Other Long-Term Liabilities $3.094M $2.824M
YoY Change 4.28% 9.71%
Total Long-Term Liabilities $33.21M $32.95M
YoY Change -1.16% -0.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.693M $5.982M
Total Long-Term Liabilities $33.21M $32.95M
Total Liabilities $1.110B $1.045B
YoY Change 12.22% 14.52%
SHAREHOLDERS EQUITY
Retained Earnings -$38.13M -$37.58M
YoY Change 7.6% 2.41%
Common Stock $106.6M $106.6M
YoY Change 0.09% 0.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.45M $54.61M
YoY Change
Total Liabilities & Shareholders Equity $1.163B $1.100B
YoY Change 10.82% 12.76%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$546.0K -$53.00K
YoY Change -143.16% -106.63%
Depreciation, Depletion And Amortization $352.0K $275.0K
YoY Change 3.23% -14.86%
Cash From Operating Activities $4.008M -$212.0K
YoY Change 92.78% -95.09%
INVESTING ACTIVITIES
Capital Expenditures $132.0K $98.00K
YoY Change -173.74% 7.69%
Acquisitions
YoY Change
Other Investing Activities -$57.45M -$40.84M
YoY Change -33.18% 31.62%
Cash From Investing Activities -$57.58M -$40.94M
YoY Change -33.17% 31.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.13M $62.91M
YoY Change -17.01% 92.33%
NET CHANGE
Cash From Operating Activities 4.008M -$212.0K
Cash From Investing Activities -57.58M -$40.94M
Cash From Financing Activities 64.13M $62.91M
Net Change In Cash 10.56M $21.76M
YoY Change -255.25% -897.33%
FREE CASH FLOW
Cash From Operating Activities $4.008M -$212.0K
Capital Expenditures $132.0K $98.00K
Free Cash Flow $3.876M -$310.0K
YoY Change 71.66% -92.97%

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Basis of Financial Statement Presentation<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim condensed consolidated financial statements of Patriot National Bancorp, Inc. (the “Company” or “PNBK”) and its wholly-owned subsidiaries, Patriot Bank, N.A. (the “Bank”), Patriot National Statutory Trust I and PinPat Acquisition Corporation (collectively, “Patriot”), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been omitted. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on the Annual Report on Form 10-K for the year ended December 31, 2022.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated balance sheet at December 31, 2022 presented herein has been derived from the audited consolidated financial statements of the Company at that date, but does not include all of the information and footnotes required by US GAAP for complete financial statements.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and to disclose contingent assets and liabilities. Actual results could differ from those estimates. Management has identified accounting for the allowance for loan and lease losses, the analysis and valuation of its investment securities, the valuation of deferred tax assets, the impairment of goodwill, the valuation of derivatives, and the valuation of servicing assets as certain of the Company’s more significant accounting policies and estimates, in that they are critical to the presentation of the Company’s consolidated financial condition and results of operations. As they concern matters that are inherently uncertain, these estimates require management to make subjective and complex judgments in the preparation of the Company’s consolidated financial statements.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The information furnished reflects, in the opinion of management, all normal recurring adjustments necessary for a fair presentation of the results for the interim periods presented. The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the results of operations that may be expected for the remainder of 2023.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to current year presentation.</span></div>
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
84520000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1800000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
24000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
878769000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
848316000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
17801000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
10310000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
860968000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
838006000 usd
CY2023Q1 pnbk Maximum Period Of Credit Extension
MaximumPeriodOfCreditExtension
P18M
CY2023Q1 pnbk Loans Receivable Term To Reset To Fhlb Rate
LoansReceivableTermToResetToFhlbRate
P5Y
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
10310000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
1798000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
180000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
1738000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
17801000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
9905000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
185000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
17000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
0 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
9737000 usd
CY2023Q1 pnbk Period For Charged Off Of Open End Credits
PeriodForChargedOffOfOpenEndCredits
P180D
CY2023Q1 pnbk Period For Charged Off Of Close End Credit
PeriodForChargedOffOfCloseEndCredit
P120D
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
38423000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
247968000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
172832000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
27046000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
89271000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
185875000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
117354000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
878769000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
38423000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
247968000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
172832000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
27046000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
89271000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
185875000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
117354000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
878769000 usd
CY2023Q1 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
63000 usd
CY2022Q1 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
115000 usd
CY2023Q1 pnbk Maximum Period For Charged Off Of Consumer Installment Loans
MaximumPeriodForChargedOffOfConsumerInstallmentLoans
P180D
CY2023Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2023Q1 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
6731000 usd
CY2023Q1 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
94000 usd
CY2022Q1 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
10789000 usd
CY2022Q1 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
48000 usd
CY2023Q1 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
15827000 usd
CY2023Q1 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
198000 usd
CY2022Q1 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
13104000 usd
CY2022Q1 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
49000 usd
CY2023Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
22558000 usd
CY2023Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
292000 usd
CY2022Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
23893000 usd
CY2022Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
97000 usd
CY2023Q1 pnbk Impaired Financing Receivable Nonperforming Loans Discount To Appraisal Value Percent
ImpairedFinancingReceivableNonperformingLoansDiscountToAppraisalValuePercent
0.058
CY2023Q1 pnbk Impaired Financing Receivable Nonperforming Loans Discount Of Appraisal Value Selling Costs Percent
ImpairedFinancingReceivableNonperformingLoansDiscountOfAppraisalValueSellingCostsPercent
0.08
CY2023Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
6900000 usd
CY2022Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
5200000 usd
CY2023Q1 pnbk Loans Serviced By Entity But Owned By A Third Party
LoansServicedByEntityButOwnedByAThirdParty
47500000 usd
CY2022Q4 pnbk Loans Serviced By Entity But Owned By A Third Party
LoansServicedByEntityButOwnedByAThirdParty
47300000 usd
CY2023Q1 us-gaap Servicing Asset
ServicingAsset
893000 usd
CY2022Q4 us-gaap Servicing Asset
ServicingAsset
886000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
987000 usd
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1000000 usd
CY2022Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
886000 usd
CY2021Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
584000 usd
CY2023Q1 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
34000 usd
CY2022Q1 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
52000 usd
CY2023Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
11000 usd
CY2022Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
8000 usd
CY2023Q1 us-gaap Servicing Asset At Amortized Value Disposals
ServicingAssetAtAmortizedValueDisposals
16000 usd
CY2022Q1 us-gaap Servicing Asset At Amortized Value Disposals
ServicingAssetAtAmortizedValueDisposals
2000 usd
CY2023Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
893000 usd
CY2022Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
626000 usd
CY2023Q1 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
152773000 usd
CY2022Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
269636000 usd
CY2023Q1 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
29316000 usd
CY2022Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
34440000 usd
CY2023Q1 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
56418000 usd
CY2022Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
71002000 usd
CY2023Q1 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
306474000 usd
CY2022Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
211000000 usd
CY2023Q1 pnbk Time Deposits Below Fdic Insurance Limit
TimeDepositsBelowFDICInsuranceLimit
162734000 usd
CY2022Q4 pnbk Time Deposits Below Fdic Insurance Limit
TimeDepositsBelowFDICInsuranceLimit
165793000 usd
CY2023Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
43664000 usd
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
59877000 usd
CY2023Q1 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
105089000 usd
CY2022Q4 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
48698000 usd
CY2023Q1 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
703695000 usd
CY2022Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
590810000 usd
CY2023Q1 us-gaap Deposits
Deposits
856468000 usd
CY2022Q4 us-gaap Deposits
Deposits
860446000 usd
CY2023Q1 pnbk Prepaid Debit Card Deposits
PrepaidDebitCardDeposits
176200000 usd
CY2022Q4 pnbk Prepaid Debit Card Deposits
PrepaidDebitCardDeposits
197300000 usd
CY2023Q1 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
248009000 usd
CY2023Q1 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
38181000 usd
CY2023Q1 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
11418000 usd
CY2023Q1 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
488000 usd
CY2023Q1 us-gaap Time Deposit Maturities Year Five
TimeDepositMaturitiesYearFive
13391000 usd
CY2023Q1 us-gaap Time Deposits
TimeDeposits
311487000 usd
CY2023Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2023Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
75000 usd
CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
74000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-53000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
800000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3965186 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3956492 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-53000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
800000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3965186 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3956492 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9510 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3965186 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3966002 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2023Q1 pnbk Commitments To Extend Credit
CommitmentsToExtendCredit
205365000 usd
CY2022Q4 pnbk Commitments To Extend Credit
CommitmentsToExtendCredit
154307000 usd
CY2023Q1 pnbk Banks Reserve Based On Analysis In Unfunded Commitments
BanksReserveBasedOnAnalysisInUnfundedCommitments
700000 usd
CY2022Q4 pnbk Banks Reserve Based On Analysis In Unfunded Commitments
BanksReserveBasedOnAnalysisInUnfundedCommitments
8000 usd
CY2023Q1 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0925
CY2022Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0927
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2023Q1 pnbk Stock Value Par Or Stated Value Per Share
StockValueParOrStatedValuePerShare
100
CY2022 pnbk Number Of Bonds Purchased Designated As Level3
NumberOfBondsPurchasedDesignatedAsLevel3
4 bond
CY2023Q1 pnbk Number Of Bonds Purchased Designated As Level3
NumberOfBondsPurchasedDesignatedAsLevel3
4 bond
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
9427000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
13180000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
778000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
-1943000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
10205000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
11237000 usd

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