Patriot National Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 07, 2023 at 08:30 am EST
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Patriot National Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 9.57 million compared to USD 6.91 million a year ago. Net income was USD 1.77 million compared to USD 1.9 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.48 a year ago.
For the full year, net interest income was USD 33.26 million compared to USD 25.26 million a year ago. Net income was USD 6.16 million compared to USD 5.09 million a year ago. Basic earnings per share from continuing operations was USD 1.56 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 1.55 compared to USD 1.29 a year ago.
Patriot National Bancorp, Inc. is a one-bank holding company for Patriot Bank, N.A (the Bank). The Bank has a total of nine branch offices comprised of eight branch offices located in Fairfield and New Haven Counties, Connecticut and one branch office located in Westchester County, New York. It offers commercial real estate loans, commercial business loans, small business administration (SBA) loans and a variety of consumer loans to individuals, small and medium-sized businesses and professionals. Its consumer and commercial deposit accounts offering include checking, interest-bearing negotiable order of withdrawal, money market, time certificates of deposit, savings, prepaid deposit accounts, on-line national money market accounts, certificate of deposit account registry service, individual retirement accounts and others. Other services offered by the Bank include lockbox, Internet banking, bill paying, remote deposit capture, debit cards, money orders, travelers' checks, and ATMs.