PNBK narrows Q1 loss 36% to $1.8M; loan growth, margin expansion signal strategic shift

Filed May 15, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~1 min read

Key Changes

• high

  Net loss improved to $1.8M ($0.02/share) in Q1 2026 from $2.8M ($0.21/share) prior year, driven by 78% growth in net interest income to $7.1M and near-zero charge-offs vs $1.3M in Q1 2025.

  MD&A: Financial Results verify on EDGAR →
• high

  Balance sheet repositioning drove $165.5M loan growth (to $751.2M) and $18.6M investment securities increase, reversing prior-year deleveraging strategy; net interest margin expanded 82bp to 2.46% from 1.64%.

  MD&A: Balance Sheet & NIM verify on EDGAR →
• high

  Non-accrual loans declined $6.8M year-over-year to $22.9M with ACL coverage improving to 34% from 23%; provision reversed to $181K net recovery vs $733K provision in Q1 2025.

  MD&A: Credit Quality verify on EDGAR →