爱国者国家银行 2026年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch31, 2026 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 000-29599 PATRIOT NATIONAL BANCORP, INC. (Exact name of registrant as specified in its charter) Connecticut06-1559137(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo Indicate by check mark whether the registrant has filed all documents and reports to be filed by Section 12, 13 or 15(d) of theSecurities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. YesNo APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of May15, 2026, there were 117,669,652 shares of the registrant’s common stock outstanding. Table of Contents2PART I- FINANCIAL INFORMATION3Item 1: Consolidated Financial Statements3Consolidated Balance Sheets (Unaudited)3Consolidated Statements of Operations (Unaudited)4Consolidated Statements of Comprehensive Loss (Unaudited)5Consolidated Statements of Shareholders' Equity (Unaudited)6Consolidated Statements of Cash Flows (Unaudited)7Notes to Consolidated Financial Statements (Unaudited)8Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations40Item 3: Quantitative and Qualitative Disclosures about Market Risk50Item 4: Disclosure Controls and Procedures51PART II - OTHER INFORMATION53Item 1: Legal Proceedings53Item 1A: Risk Factors53Item 5: Other Information53Item 6: Exhibits54SIGNATURES55 PATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (In thousands) PATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) (In thousands) Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES Note 1.Basis of Financial Statement Presentation The accompanying unaudited interim condensed Consolidated Financial Statements of Patriot National Bancorp, Inc. (the “HoldingCompany” or “PNBK”) and its wholly-owned subsidiaries, Patriot Bank, N.A. (the “Bank”), Patriot National Statutory Trust I andPinPat Acquisition Corporation (collectively, the “Company” or “Patriot”), have been prepared pursuant to the rules and regulations ofthe Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included infinancial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.GAAP”) have been omitted. The accompanying unaudited interim condensed Consolidated Financial Statements should be read inconjunction with the audited Consolidated Financial Statements and notes thereto included on the Annual Report on Form 10-K for theyear ended December31, 2025. The preparation of consolidated financial statements in accordance with US GAAP requires management to make estimates andassumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and to disclose contingent assets andliabilities. Actual results could differ from those estimates. Management has identified accounting for the allowance for credit losses,the analysis and valuation of i