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Patriot National Bancorp, Inc. operates as the holding company for Patriot Bank, N.A. that provides community banking services to individuals, small and medium-sized businesses, and professionals. The company accepts consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal, money market, time certificates of deposit, savings, prepaid deposit, online national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service. Its loan portfolio comprises commercial real estate, commercial business, small business administration, construction, purchased residential real estate, and various consumer loans. The company also offers automated clearing house transfers, lockbox, internet banking, bill payment, remote deposit capture, debit card, money order, traveler's check, and automatic teller machine services. It operates in New York; Connecticut; New Jersey; and internationally. Patriot National Bancorp, Inc. was founded in 1994 and is headquartered in Stamford, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $29M | - | $-13M | $-14M | -13.4% | 4.1% | - |
| 2024 | $28M | - | $-40M | $3M | -935.1% | -17.4% | - |
| 2023 | $34M | - | $-4M | $-11M | -9.4% | -6.5% | -167.8% |
| 2022 | $37M | - | $6M | $7M | 10.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 36.63 | 34.25 | 28.27 | 29.43 |
| Pretax Income | 7.76 | -5.63 | -16.10 | -12.65 |
| Tax Provision | 1.60 | -1.45 | 23.79 | 0.06 |
| Net Income | 6.16 | -4.18 | -39.88 | -12.71 |
| Net Income Common Stockholders | 6.16 | -4.18 | -39.88 | -12.71 |
| Interest Expense | 10.75 | 30.46 | 32.28 | 28.73 |
| Interest Income | 43.63 | 58.45 | 52.08 | 47.67 |
| Selling General And Administration | 16.01 | 18.14 | 18.57 | 23 |
| Normalized Income | 6.16 | -3.36 | -39.88 | -12.71 |
| Basic EPS | 1.56 | -1.05 | -10.03 | -0.17 |
| Diluted EPS | 1.55 | -1.05 | -10.03 | -0.17 |
| Tax Effect Of Unusual Items | 0 | -0.29 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.26 | 0.21 | 0.21 |
| Total Unusual Items | 0 | -1.11 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | -1.11 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 6.16 | -4.18 | -39.88 | -12.71 |
| Reconciled Depreciation | 1.47 | 1.35 | 1.35 | 1.19 |
| Net Interest Income | 32.88 | 28 | 19.79 | 18.95 |
| Net Income From Continuing And Discontinued Operation | 6.16 | -4.18 | -39.88 | -12.71 |
| Diluted Average Shares | 3.97 | 3.97 | 3.98 | 76.81 |
| Basic Average Shares | 3.95 | 3.97 | 3.98 | 76.81 |
| Diluted NI Availto Com Stockholders | 6.16 | -4.18 | -39.88 | -12.71 |
| Net Income Including Noncontrolling Interests | 6.16 | -4.18 | -39.88 | -12.71 |
| Net Income Continuous Operations | 6.16 | -4.18 | -39.88 | -12.71 |
| Special Income Charges | 0 | -1.11 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 1.11 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0.13 | 0 | 0 | 0 |
| Gain On Sale Of Security | 0 | 0.02 | -0.33 | 0 |
| Selling And Marketing Expense | 0.23 | 0.27 | 0.36 | 0.29 |
| General And Administrative Expense | 15.78 | 17.88 | 18.21 | 22.71 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 0.27 | 0.28 | 0.32 | 0.73 |
| Salaries And Wages | 15.51 | 17.60 | 17.90 | 21.98 |
| Operating Revenue | 36.63 | 34.25 | 28.27 | 29.43 |
| Occupancy And Equipment | 3.43 | 3.41 | 3.21 | 3.10 |
| Professional Expense And Contract Services Expense | 2.66 | 3.37 | 3.70 | 4.31 |
| Other Non Interest Expense | 4.89 | 6.42 | 6.43 | 10.17 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Patriot National Bancorp, Inc.this co. | PNBK | $153M | - | 1.49 | -13.4% | - |
| Landmark Bancorp, Inc. | LARK | $167M | 8.93 | 1.04 | 11.7% | - |
| Finance of America Companies Inc. | FOA | $166M | 4.91 | 0.47 | 11.4% | - |
| SelectQuote, Inc. | SLQT | $163M | - | 0.45 | 8.3% | 14.41 |
| ECB Bancorp, Inc. | ECBK | $159M |
| 15.62 |
| 0.90 |
| 4.5% |
| - |
| Westwood Holdings Group, Inc. | WHG | $159M | 21.19 | 1.12 | 5.6% | 11.63 |
| Richmond Mutual Bancorporation, Inc. | RMBI | $152M | 12.48 | 1.04 | 7.9% | - |
| SR Bancorp, Inc. | SRBK | $144M | 33.09 | 0.77 | 2.7% | - |
| Finward Bancorp | FNWD | $138M | 13.94 | 0.79 | 4.6% | - |
| Peer Median | - | 13.94 | 0.85 | 6.8% | 13.02 | |