Patriot National Bancorp, Inc.
- Open
- 1.08
- Day high
- 1.08
- Day low
- 1.01
- Prev close
- 1.03
- Volume
- 326K
- Mkt cap
- $126M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.4
- P/S
- 1.9
- Yield
- —
- Per share
- —
Patriot National Bancorp, Inc. (PNBK) is a Financial Services company listed on NASDAQ. The stock is down 32% over the past year.
Patriot National Bancorp, Inc. (PNBK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PNBK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 13, 2026 | $0.25 | $0.00 | -99.5% | $20M | +132.2% |
| May 15, 2026 | $0.25 | $-0.02 | -108.0% | $18M | +116.5% |
| Mar 31, 2026 | $0.25 | $-0.02 | -108.0% | — | — |
| Nov 14, 2025 | — | $-0.03 | — | $14M | — |
| Aug 14, 2025 | — | $-0.06 | — | $14M | — |
| May 14, 2025 | — | $-0.21 | — | $15M | — |
| Nov 19, 2024 | — | $-6.78 | — | $7M | — |
| Aug 9, 2024 | — | $-0.77 | — | $4M | -46.7% |
| Apr 1, 2024 | — | $0.23 | — | $16M | — |
| Nov 14, 2023 | — | $-0.95 | — | $15M | +95.6% |
| Aug 11, 2023 | — | $-0.14 | — | $8M | +10.3% |
| May 12, 2023 | — | $-0.01 | — | $9M | +16.0% |
PNBK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 27, 2026 | Sugarman Stevendirector, officer: President and CEO | Grant | 28,857 | — |
| Jul 31, 2026 | Roth Jonathan Pauldirector | Grant | 66,372 | — |
| Jul 31, 2026 | Magzanyan Anahitdirector | Grant | 88,496 | — |
| Jul 31, 2026 | Constantino Edward N.director | Grant | 88,496 | — |
| Jul 31, 2026 | De Tomasi Mariodirector | Grant | 88,496 | — |
| Jul 2, 2026 | Sugarman Stevendirector, officer: President and CEO | Option | 552,927 | — |
| Jul 2, 2026 | Seabold Jeffrey Tdirector | Option | 133,333 | — |
| Jul 2, 2026 | Magzanyan Anahitdirector | Option | 22,222 | — |
| Jul 2, 2026 | Roth Jonathan Pauldirector | Option | 12,575 | — |
| Jul 2, 2026 | De Tomasi Mariodirector | Option | 22,222 | — |
| Jul 2, 2026 | Constantino Edward N.director | Option | 22,222 | — |
| Jul 2, 2026 | Sugarman Stevendirector, officer: President and CEO | Tax | 303,861 | $1.20 |
| Jun 18, 2026 | Sugarman Stevendirector, officer: President and CEO | Grant | 575 | — |
| Jun 18, 2026 | Sugarman Stevendirector, officer: President and CEO | Grant | 104,452 | — |
| May 29, 2026 | De Tomasi Mariodirector | Buy | 85,000 | $0.96 |
Source: PNBK SEC Form 4 filings, latest Aug 27, 2026. For informational purposes only — not investment advice.
See the full PNBK insider & 13F page →Patriot National Bancorp, Inc. company profile
Overview
Patriot National Bancorp, Inc. (NASDAQ:PNBK) is a regional bank holding company founded in 1994 and headquartered in Stamford, Connecticut. The company operates through its subsidiary Patriot Bank, N.A., serving individuals, small and medium-sized businesses, and professionals primarily in Connecticut and New York. Since going public in 1994, the bank has maintained a community banking focus but has faced significant financial challenges in recent years, reporting substantial losses and experiencing a dramatic decline in stock price from $9.50 in 2022 to around $6.44 as of the most recent quarter.
Business
Patriot National Bancorp operates in the regional banking industry, which involves taking deposits from customers and lending those funds to borrowers while earning interest on the spread between what they pay depositors and what they charge borrowers. Regional banks like Patriot typically serve local communities and smaller businesses, differentiating themselves from large national banks through personalized service and local market knowledge. The company's core business consists of traditional community banking services delivered through nine branch locations - eight in Connecticut's Fairfield and New Haven Counties, and one in New York's Westchester County. On the deposit side, Patriot offers various account types including checking accounts, savings accounts, money market accounts, certificates of deposit, and specialized accounts like Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs). These deposits form the bank's funding base, representing the money customers entrust to the bank. On the lending side, Patriot's loan portfolio includes several categories: commercial real estate loans (financing for business properties), commercial business loans (working capital and equipment financing), Small Business Administration (SBA) loans (government-backed loans for small businesses), construction loans (short-term financing for building projects), purchased residential real estate loans (home mortgages), and various consumer loans (personal loans, auto loans, etc.). The bank also provides ancillary services such as automated clearing house (ACH) transfers, lockbox services for businesses, internet banking, bill payment services, remote deposit capture, debit cards, and ATM access.
Revenue model
Patriot National Bancorp generates revenue through the fundamental banking business model of net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. This spread, known as net interest margin, represents the bank's primary revenue source. The bank also earns fee income from various services including account maintenance fees, overdraft fees, loan origination fees, and transaction-based services. The bank's profitability is heavily influenced by several key factors. Interest rate environments significantly impact margins - when rates rise rapidly, the bank may face pressure as deposit costs increase faster than loan yields can be repriced. Credit quality represents another critical factor, as loan losses directly reduce profitability. The bank's recent financial performance shows substantial stress, with net losses of $39.9 million in 2024 compared to a $6.2 million profit in 2022, indicating severe operational challenges. Competition from larger regional and national banks, as well as credit unions and online banks, affects the bank's ability to attract and retain deposits while maintaining competitive loan pricing. The concentrated geographic footprint in Connecticut and New York exposes the bank to local economic conditions. Regulatory compliance costs also impact profitability, as smaller banks like Patriot must spread these fixed costs across a smaller asset base compared to larger institutions.
Competitive moat
Patriot National Bancorp operates in a highly competitive industry with limited sustainable competitive advantages. Community banks traditionally rely on local relationships and personalized service as their primary moat, but this advantage has eroded significantly with the rise of digital banking and the expansion of larger banks into local markets. The bank's small size and limited geographic footprint actually represent competitive disadvantages rather than strengths. With only nine branches and approximately $1 billion in assets, Patriot lacks the scale economies necessary to compete effectively on pricing or to spread fixed costs efficiently. Larger banks can offer more competitive rates, broader product suites, and superior technology platforms. The bank's recent financial distress further weakens any potential competitive position. Sustained losses, declining capital ratios, and operational challenges make it difficult to invest in technology, marketing, or competitive pricing. The bank faces potential regulatory pressure due to its financial condition, which could limit its strategic flexibility. Competition comes from multiple sources: large national banks with superior resources, regional banks with better scale, credit unions with tax advantages, and fintech companies offering specialized services. The banking industry's regulatory barriers to entry provide some protection, but this is offset by the intense competition among existing players and the ongoing consolidation trend that favors larger, more efficient institutions.
Risks & safety
Patriot National Bancorp presents significant financial risk with minimal margin of safety for investors. • **Solvency concerns**: The bank reported negative stockholders' equity of approximately $4.3 million as of Q1 2025, indicating potential insolvency. The debt-to-equity ratio has deteriorated dramatically from 1.93 in 2022 to 7.75 in 2024. • **Cash burn**: The company generated negative operating cash flows of $5.8 million in Q1 2025 and has been burning cash consistently, though it maintains $121 million in cash and short-term investments. • **Valuation metrics**: Trading at 0.27x book value suggests the market expects significant value destruction. The negative earnings make traditional P/E ratios meaningless. • **Regulatory risk**: Banks with negative capital ratios face potential regulatory intervention, including possible closure or forced merger. • **Asset quality**: The substantial loan loss provisions contributing to recent losses suggest deteriorating credit quality in the loan portfolio.
Recent development
Based on the available financial data, Patriot National Bancorp has undergone significant financial deterioration over the past two years rather than strategic development. The bank's performance declined sharply from profitability in 2022 ($6.2 million net income) to substantial losses in 2023 and 2024 ($4.2 million and $39.9 million losses respectively). The most significant development has been the dramatic erosion of the bank's capital position, with stockholders' equity turning negative by Q1 2025. This suggests the bank has been dealing with substantial loan losses and operational challenges. The bank's asset base has remained relatively stable around $1 billion, but the quality of those assets appears to have deteriorated significantly. Revenue has actually increased from $35 million in 2022 to over $60 million in 2024, but this has been more than offset by increased expenses, likely including substantial loan loss provisions. The bank's cash position has fluctuated significantly, from $38 million in 2022 to $147 million by the end of 2024, suggesting possible asset liquidation or deposit inflows that haven't translated to profitable operations. Without access to earnings call transcripts, the specific strategic initiatives or management responses to these challenges are not available, but the financial metrics suggest a bank in severe distress requiring immediate corrective action or potential regulatory intervention.
PNBK company profile · for informational purposes only — not investment advice.
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