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1. Company Snapshot

1.a. Company Description

Patriot National Bancorp, Inc.operates as the holding company for Patriot Bank, N.A. that provides community banking services to individuals, small and medium-sized businesses, and professionals.The company accepts consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal, money market, savings, prepaid deposit, on-line national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service.


Its loan portfolio comprises commercial real estate, commercial business, small business administration, construction, purchased residential real estate, and various consumer loans.The company also offers automated clearing house transfers, lockbox, Internet banking, bill payment, remote deposit capture, debit card, money order, traveler's check, and automatic teller machine services.It operated through a network of eight branch offices located in Fairfield and New Haven Counties, Connecticut; and one branch offices located in Westchester County, New York.


The company was founded in 1994 and is headquartered in Stamford, Connecticut.

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1.b. Last Insights on PNBK

Patriot National Bancorp's recent performance was bolstered by a significant private placement, securing over $50 million in funding. This strategic move will enhance the company's equity capital and fortify its balance sheet, positioning it for future growth. Additionally, the company's finance chief, David Finn, has resigned, potentially paving the way for a new leadership perspective. Furthermore, the recent earnings release highlighted a strong financial position, with a notable increase in deposits and a stable loan portfolio. The company's ability to attract a diverse group of investors through the private placement underscores its appeal to the market.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Patriot National Bancorp, Inc.(NasdaqGM:PNBK) added to Russell Small Cap Comp Growth Index

Jun -30

Source: https://www.marketscreener.com

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Patriot National Bancorp Announces Completion of $10M Registered Direct Offering

Jun -05

Source: globenewswire.com

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Patriot National Bancorp Finance Chief David Finn to Resign

Mar -26

Source: marketwatch.com

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Patriot National Bancorp Announces Over $50 Million Private Placement

Mar -20

Source: globenewswire.com

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Love National Union Bank (PNBK) Sees Stock Surge of 6.34%

Oct -02

Source: gurufocus.com

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Patriot Reports Second Quarter Results

Aug -11

Source: globenewswire.com

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Patriot Bank Announces Appointment of Grace Doherty to the Board of Directors

Jul -21

Source: globenewswire.com

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Bank-Fintech Deals Did Not Have a Good Year in 2022

Dec -31

Source: The Motley Fool

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Community Banking

Expected Growth: 4.5%

Growing demand for personalized financial services, increasing small business formations, and a focus on community development drive growth in community banking. Patriot National Bancorp's localized approach and tailored loan offerings position it for success in this segment.

7. Detailed Products

Commercial Loans

Patriot National Bancorp, Inc. offers a range of commercial loans to businesses, including term loans, lines of credit, and construction loans, to support their growth and expansion plans.

Residential Mortgages

The company offers a variety of residential mortgage products, including fixed-rate and adjustable-rate mortgages, to help individuals and families achieve their dream of homeownership.

Consumer Banking

Patriot National Bancorp, Inc. offers a range of consumer banking products, including checking and savings accounts, credit cards, and personal loans, to meet the financial needs of individuals and families.

Treasury Management

The company's treasury management services help businesses manage their cash flow, reduce risk, and optimize their financial performance.

Wealth Management

Patriot National Bancorp, Inc. offers a range of wealth management services, including investment management, trust services, and financial planning, to help individuals and families achieve their long-term financial goals.

8. Patriot National Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Patriot National Bancorp, Inc. is medium due to the presence of alternative financial institutions and online banking services.

Bargaining Power Of Customers

The bargaining power of customers for Patriot National Bancorp, Inc. is low due to the lack of concentration of buyers and the availability of multiple banking options.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Patriot National Bancorp, Inc. is medium due to the presence of multiple suppliers of financial services and technology.

Threat Of New Entrants

The threat of new entrants for Patriot National Bancorp, Inc. is high due to the ease of entry into the banking industry and the presence of fintech companies.

Intensity Of Rivalry

The intensity of rivalry for Patriot National Bancorp, Inc. is high due to the presence of multiple competitors in the banking industry and the need to differentiate itself through innovative products and services.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 81.95%
Debt Cost 6.01%
Equity Weight 18.05%
Equity Cost 6.01%
WACC 6.01%
Leverage 454.14%

11. Quality Control: Patriot National Bancorp, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Value: 7.5

Growth: 1.7

Quality: 3.5

Yield: 0.0

Momentum: 8.5

Volatility: 7.0

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John Marshall Bancorp

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Growth: 4.7

Quality: 6.1

Yield: 2.0

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Broadway Financial

A-Score: 4.5/10

Value: 5.2

Growth: 5.3

Quality: 4.7

Yield: 0.0

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Bogota Financial

A-Score: 4.2/10

Value: 4.4

Growth: 2.1

Quality: 2.6

Yield: 0.0

Momentum: 8.0

Volatility: 8.0

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Blue Ridge Bankshares

A-Score: 4.1/10

Value: 2.6

Growth: 1.4

Quality: 4.2

Yield: 2.0

Momentum: 9.0

Volatility: 5.3

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Patriot National Bancorp

A-Score: 3.0/10

Value: 8.2

Growth: 1.3

Quality: 2.8

Yield: 0.0

Momentum: 5.5

Volatility: 0.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.36$

Current Price

1.36$

Potential

-0.00%

Expected Cash-Flows