Patriot National Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 05:03 pm EDT
Share
Patriot National Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 7.71 million compared to USD 7.72 million a year ago. Net loss was USD 0.546 million compared to net income of USD 1.27 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.32 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.32 a year ago.
For the six months, net interest income was USD 15.73 million compared to USD 14.45 million a year ago. Net loss was USD 0.599 million compared to net income of USD 2.07 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to basic earnings per share from continuing operations of USD 0.52 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to diluted earnings per share from continuing operations of USD 0.52 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.