Patriot National Bancorp Inc (NASDAQ: PNBK)

Patriot National Bancorp, Inc. operates as a bank holding company incorporated under the laws of Connecticut. Its principal asset is Patriot Bank, N. A., a national banking association headquartered in Stamford, Connecticut. The Bank operates under a national bank charter from the Office of the Comptroller of the Currency and is a member of the Federal Reserve System. Deposits are insured by the Federal Deposit Insurance Corporation up to applicable limits. As of December 31, 2025 the Bank maintained eight branch offices with seven locations in Connecticut and one in New York. In addition to its branch network the Bank serves clients through relationship based banking, treasury management, institutional banking and digital banking channels. The Holding Company also owns Patriot National Statutory Trust I and PinPat Acquisition Corporation as wholly owned subsidiaries.

The Company generates revenue primarily from interest income earned on its loan portfolio. Loans include commercial real estate, high net worth lines of credit, business loans and asset secured facilities. Fee based revenue comes from deposit account services, treasury management solutions and institutional banking activities. Treasury management fees are derived from ACH services, wire transfers, remote deposit capture and debit card services. Institutional banking provides fee income from services to financial technology companies, program managers and non depository financial institutions. Digital payments activities generate revenue through ACH and money movement services, debit and credit card program sponsorship and settlement related services. The Bank also earns income from its investment securities portfolio which includes U. S. Treasury securities, government agency securities, mortgage backed securities and investment grade private label securities. Overall revenue is a mix of net interest income and noninterest fee income.

Patriot National Bancorp, Inc. competes in a highly fragmented banking market that includes national banks, regional banks, community banks and non bank financial institutions. Many of its competitors possess greater financial, technological, operational and marketing resources. The Company seeks to differentiate itself by emphasizing relationship based service and specialized deposit and lending solutions. It targets specific client segments such as entrepreneurs, investors, business leaders and the advisors who serve them. The Bank also focuses on digital payments and institutional banking clients including fintech companies, program managers and payment processors. Additionally it serves underbanked but creditworthy individuals and businesses within its geographic footprint. By concentrating on these niches the Bank aims to achieve attractive risk adjusted returns that are not fully met by traditional banking partners. The Bank’s strategic repositioning includes exiting legacy non core activities and strengthening capital, governance and risk management frameworks. These efforts are intended to improve its competitive standing and support long term growth.

The Bank’s customer base consists of relationship driven clients across several categories. It serves entrepreneurs, investors, business leaders and the professional advisors who support their ventures. The Bank also works with digital payments partners such as fintech firms, program managers and non depository financial institutions. In addition it provides banking services to high net worth individuals, family offices, private businesses and nonprofit organizations. The Bank continues to maintain legacy retail deposit and lending relationships with customers predating its 2025 recapitalization. These legacy relationships are expected to decline as a proportion of total loans and deposits over time. The Bank serves clients in Connecticut, New York and, through its Beverly Hills office, in the Los Angeles market. Beyond its branch footprint the Bank reaches customers via institutional banking, digital payments and relationship based channels.