Patriot National Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 05, 2022 at 06:00 pm IST
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Patriot National Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net interest income was USD 7.72 million compared to USD 5.94 million a year ago. Net income was USD 1.27 million compared to USD 1.02 million a year ago. Basic earnings per share from continuing operations was USD 0.32 compared to USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.32 compared to USD 0.26 a year ago.
For the six months, net interest income was USD 14.45 million compared to USD 12.06 million a year ago. Net income was USD 2.07 million compared to USD 1.88 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 0.47 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.