-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HQzSIqsBtYoO2mqswHJ7/hgeCuhFQNp2M7bYESm6xxh/11AUXBwrqECNeX6NemCf s9UmjwG+cO0+Q1MqYCJFFQ== 0000913355-03-000136.txt : 20031029 0000913355-03-000136.hdr.sgml : 20031029 20031029080858 ACCESSION NUMBER: 0000913355-03-000136 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031028 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031029 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PATRIOT NATIONAL BANCORP INC CENTRAL INDEX KEY: 0001098146 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 061559137 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29599 FILM NUMBER: 03962225 BUSINESS ADDRESS: STREET 1: 900 BEDFORD ST CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033247500 8-K 1 form8koctober2003.txt FORM 8-K DATED OCTOBER 2003 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 28, 2003 PATRIOT NATIONAL BANCORP, INC. (Exact name of registrant as specified in its charter) Connecticut 000-29599 06-1559137 (State or other jurisdiction of (Commission File (IRS Employer incorporation) Number) Identification Number) 900 Bedford Street, Stamford, Connecticut 06901 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (203) 324-7500 N/A (Former name or former address, if changed since last report) 2 Item 7. Financial Statements and Exhibits (a) Not applicable. (b) Not applicable. (c) Exhibits. Exhibit No. Description 20 Press release dated October 28, 2003 of Patriot National Bancorp, Inc. Item 12. Results of Operations and Financial Condition On October 28, 2003, Patriot National Bancorp, Inc. ("Bancorp"), the holding company for Patriot National Bank, issued a press release announcing certain information concerning Bancorp's results of operations for the quarter ended September 30, 2003 and its financial condition at September 30, 2003. The information regarding the quarter ended September 30, 2003 that is required to be reported pursuant to Item 12 of a Current Report on Form 8-K is contained in the first and second paragraphs of the press release, a copy of which is filed as an exhibit hereto. 3 Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PATRIOT NATIONAL BANCORP, INC. Date: October 28, 2003 By: /s/ ROBERT F. O'CONNELL ------------------------------------ Robert F. O'Connell Senior Executive Vice President Chief Financial Officer EX-20 3 exhibit20.txt PRESS RELEASE DATED OCTOBER 28, 2003 Contact: Patriot National Bank 900 Bedford Street Stamford, CT 06901 Charles F. Howell, President & CEO Robert F. O'Connell SEVP & CFO (203) 324-7500 For immediate release PATRIOT NATIONAL BANCORP, INC. REPORTS REVENUE INCREASE. STAMFORD, CT OCTOBER 28, 2003. Patriot National Bancorp, Inc. (parent company of Patriot National Bank) reported higher revenues for the quarter ended September 30, 2003. Net interest income was $2.5 million representing an increase of 17.8% from the same period last year and an increase of 12.9% from the quarter ended June 30, 2003. The higher revenue was offset by increased operating costs of 11.2% in the quarter ended September 30, 2003 compared to the same quarter last year. The higher costs were primarily related to the Bank's branch expansion program. Net income for the quarter was $316,000 ($0.13 diluted income per share) compared to $338,000 ($0.14 diluted income per share) for the same period last year. For the nine months ended September 30, 2003 net income was $1.0 million representing an increase of 25.0% over the same period last year. Total loans increased 13.0% during the quarter ended September 30, 2003 to end the quarter at $207.6 million. Deposits at September 30, 2003 were $265.8 million which represents an increase of 7.0% from the end of the previous quarter. Total assets at September 30, 2003 were $318.2 million, representing an increase of $16.1 million, or 5.3%, from the end of the prior quarter. Mr. Charles F. Howell, President and Chief Executive Officer of Patriot National Bank, attributed the strong growth in the balance sheet to the continued expansion of both commercial and consumer banking relationships. Mr. Howell stated that the strength of the local real estate market contributed to the exceptional growth in quality loans during the most recent quarter. The growth in loans and core deposits, together with a re-positioning of the investment portfolio, resulted in the favorable revenue trend. Patriot plans to open a branch in Wilton, CT at the beginning of November which will be the Bank's third new branch location this year. Patriot National Bank is headquartered in Stamford, CT and has full service branches in Stamford, Greenwich, Old Greenwich and Norwalk. -----END PRIVACY-ENHANCED MESSAGE-----