This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Patriot National Bancorp Earns $345,000 In Second Quarter; Highlighted By Improved Credit Quality And Ongoing Operating Efficiencies

“In the first quarter of 2012 we implemented staff reductions and during the second quarter we closed our West End branch. Three additional branches were designated for closure in the second quarter, which will be effective by September 30, 2012. These events will significantly reduce expenses by year end,” said Mr. Maher. Salary and employee benefits were down $464,000, or 14.5%, and occupancy and equipment expenses were down $157,000, or 12.1%, compared to the second quarter a year ago. In addition, OREO expenses were $758,000 lower due to reduced operating costs relating to fewer properties being managed.


The capital ratios at June 30, 2012 for Patriot National Bancorp, Inc. and Patriot National Bank were:


Patriot NationalBancorp, Inc.


Patriot NationalBank


Well CapitalizedRequirement

Total Capital (to Risk Weighted Assets) 15.85 % 15.43 % 10.00 %
Tier 1 Capital (to Risk Weighted Assets) 14.60 % 14.18 % 6.00 %
Tier 1 Capital (to Average Assets) 9.13 % 8.88 % 5.00 %

In addition, Patriot’s tangible common equity ratio was 8.03% at the end of June.

4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free


DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs