Patriot National Bancorp, Inc. reported a net income of $143,000 for the second quarter of 2026, a significant improvement compared to a net loss of $5 million in the same period of 2025. For the first half of 2026, the company recorded a net loss of $1.6 million, an improvement from a loss of $7.8 million in the prior year. The increase in profitability was attributed to a 114% rise in net interest income, which reached $9 million for the quarter, driven by substantial growth in the loan portfolio and a higher-yielding investment securities portfolio. Total interest and dividend income for the quarter was $16.4 million, up from $11.5 million a year earlier.
Total assets increased to $1.32 billion as of June 30, 2026, compared to $1.09 billion at the end of 2025. This growth was primarily fueled by a 50% increase in loans receivable, which rose to $877.4 million, reflecting new loan originations and purchases. The company’s total deposits also saw a notable increase, rising to $1.2 billion from $965.8 million, with non-interest-bearing deposits growing significantly. The net loan-to-deposit ratio increased to 73.1% from 60.6% over the same period, indicating a strategic focus on balance sheet growth.
In terms of operational developments, Patriot National Bancorp has made strides in its lending initiatives, particularly in commercial and residential real estate. The composition of the loan portfolio shifted, with commercial real estate loans comprising 55% of total gross loans, while residential real estate loans increased to 22.7% from 13.4% at year-end 2025. The company also reported a decrease in non-accrual loans, which totaled $25 million, reflecting improved credit quality in the loan portfolio.
The company’s regulatory standing improved as the Office of the Comptroller of the Currency (OCC) terminated its formal agreement with the bank, allowing it to be classified as "well capitalized." As of June 30, 2026, the bank's total risk-based capital ratio was 14.15%, exceeding the minimum requirements. Looking ahead, Patriot National Bancorp aims to continue its focus on balance sheet growth and capital optimization while managing credit risk effectively. The company remains committed to enhancing its operational efficiency and expanding its market presence.
About PATRIOT NATIONAL BANCORP INC
Patriot National Bancorp, Inc. is a bank holding company for Patriot Bank, N.A., offering commercial and consumer banking services primarily in Connecticut and New York. Its core activities include deposit-taking, commercial real estate, business, SBA, and mortgage lending. The company emphasizes personalized service, community engagement, and diversified financial products, operating through a network of branches and digital channels in a competitive regulatory environment.
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