Patriot National Bancorp stock barely budged into the weekend, slipping just 0.9% to about US$1.10, even though the quarterly story quietly flipped from red to black. After a year of losses, the bank posted a small profit in Q2 2026, with basic earnings per share just above zero and net income modestly in the black. For a lender that has carried elevated non performing loans and a rich price to book ratio, the key question now is whether this early profit flicker can hold over the next several years.

Is Patriot National Bancorp’s rich 1.5x P/B multiple signaling hidden value, or just pricing in a fragile balance sheet and recent losses? See how the story lines up against fundamentals in our valuation analysis for Patriot National Bancorp

Q2 2026 Earnings Summary

• Total Revenue (Q2 2026 vs. Q2 2025): US$11.455 million vs. US$4.694 million (revenue increased)
• Net Income / Loss (Q2 2026 vs. Q2 2025): Net income of US$0.143 million vs. a net loss of US$5.001 million (moved from loss to profit)
• Basic EPS (Q2 2026 vs. Q2 2025): US$0.00069 per share vs. a loss of US$0.064014 per share (per share result improved from loss to slightly positive)
• Net Interest Margin (Q2 2026 trailing 12 months vs. Q2 2025 trailing 12 months): 2.04% vs. 1.85% (Net Interest Margin, or NIM, improved over the trailing 12 months)

Prefer clean visuals instead of another wall of tiny bank figures and credit metrics? See Patriot National Bancorp’s full financial picture with an easy-to-scan balance sheet view, valuation snapshot and more in our company report for Patriot National Bancorp.

Patriot National Bancorp’s Profit Flicker Supports Optimists

For investors leaning positive on Patriot National Bancorp, the swing from a Q2 2025 net loss to a Q2 2026 profit, even if small, is encouraging. Revenue rose from US$4.694 million to US$11.455 million and net interest margin, or NIM, improved to 2.04% on a trailing basis from 1.85%. The recent termination of the OCC Formal Agreement in June 2026 also points to improved regulatory standing. Taken together, these shifts point toward better operational footing than a year ago, even if the share price has barely moved.

Lingering Loss History Keeps Risks In View

There is still enough in the recent record to justify caution on Patriot National Bancorp. The latest quarter only just returned to profit after a year of losses, and basic EPS sits only fractionally above zero at US$0.00069. The stock has drifted down over 7 days, 30 days and 90 days, which suggests investors are not yet convinced this turnaround is durable. The earlier need for an OCC Formal Agreement also keeps past risk management concerns in focus, even if regulators now see conditions as improved.

After a year of losses, high bad loans at 3% and shareholder dilution, are these visible issues masking deeper structural problems? Review the risk analysis for Patriot National Bancorp which shows 5 important warning signs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.