Patriot National Bancorp Inc. · NASDAQ:PNBK

Patriot National Bancorp — Shareholder Meeting (June 2009)

30 slides from Patriot National Bancorp's shareholder meeting presentation, Jun 17, 2009

  1. Slide 1: Annual Shareholders Meeting

    Patriot National Bancorp, Inc. Annual Shareholders Meeting June 17, 2009 Greenwich Hyatt 1

  2. Slide 2: Total Assets

    Patriot National Bancorp, Inc. Total Assets All Amounts in Thousands $248,497 $342,469 $405,047 $470,641 $645,983 $807,530 $913,359 2

  3. Slide 3: Total Deposits

    Patriot National Bancorp, Inc. Total Deposits All Amounts in Thousands $217,911 $289,992 $367,005 $419,075 $561,452 $672,399 $784,821 3

  4. Slide 4: Full Service Branches In Operation June 2008

    Patriot National Bancorp, Inc. 19 Full Service Branches In Operation June 2008 4

  5. Slide 5: Total Net Loans

    Patriot National Bancorp, Inc. Total Net Loans All Amounts in Thousands $170,795 $214,421 $263,875 $364,244 $506,884 $685,886 $788,569 5

  6. Slide 6: Real Estate Loans Geographic Distribution

    Patriot National Bancorp, Inc. Real Estate Loans Geographic Distribution % of $ Outstanding # of Loans ‰ Connecticut Loans 73.98% 82.01% ‰ New York Loans 23.48% 16.40% ‰ Other State Loans 2.54% 1.59% 6

  7. Slide 7: Loan Portfolio Composition

    Patriot National Bancorp, Inc. Loan Portfolio Composition Loan Type Concentrations, December 31, 2008 Commercial Loan, $33,860,527.25 4% 238 Accounts Residential Real Estate, $170,449,784.68, 21%, Home Equity Loan, 104 Accounts $45,022,127.60 Commercial Real Estate, 6% 219 Accounts $262,570,351.65,

  8. Slide 8: Working Out Construction Loans in a Weak Real Estate Market

    Patriot National Bancorp, Inc. Working Out Construction Loans in a Weak Real Estate Market Significant Increase in Non-Accrual Loans in 2008 to $80.5 Million Maximum Loan to Value Ratio 65% “as Complete” at Origination Average Loan to Value Ratio “as Complete” at Origination 55% No Construction Loan

  9. Slide 9: Loan Portfolio

    Patriot National Bancorp, Inc. Loan Portfolio Significant Concentration in Commercial Real Estate & Construction Loans No Sub-Prime Loan Exposure No Option ARM’s No Negative Amortization Loans No High Loan To Value Ratio Real Estate Loans “At Origination” No High Loan To Value Home Equity Loans Orig

  10. Slide 10: Housing Market for Fairfield County: Homes Sold

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Fairfield County # of Single Family Homes Sold (annualized), Fairfield County, 1988-Q1 2009 700 600 # of Single Family Homes Sold (annualized) 500 400 300 200 100 0 Year 10

  11. Slide 11: Housing Market for Fairfield County: Median Price

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Fairfield County Median Single Family Home Sales Price, Fairfield County, 1988-Q1 2009 $800,000 $700,000 Median Single Family Home Sales Price $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $- Year 11

  12. Slide 12: Housing Market for Fairfield County: Prices and Homes Sold

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Fairfield County Single Family Homes Median Sale Prices and # Sold, Fairfield County, 1988-Q1 2009 $800,000 700 $700,000 600 Median Home Sales Price $600,000 500 # Homes Sold $500,000 400 $400,000 300 $300,000 200 $200,0

  13. Slide 13: Housing Market for Greenwich: Homes Sold

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Greenwich # of Single Family Homes Sold, Greenwich, CT, 1988-Q1 2009 1200 1000 # of Single Family Homes Sold 800 600 400 200 0 Year 13

  14. Slide 14: Housing Market for Greenwich: Median Price

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Greenwich Median Single Family Home Sales Price, Greenwich, CT, 1988-Q1 2009 $2,500,000 $2,000,000 Median Single Family Home Sales Price $1,500,000 $1,000,000 $500,000 $- 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997

  15. Slide 15: Housing Market for Greenwich: Prices and Homes Sold

    Patriot National Bancorp, Inc. Housing Market from 1988 to 1st Quarter 2009 for Greenwich Single Family Homes Median Sale Prices and # Sold, Greenwich, CT, 1988-Q1 2009 $2,500,000 1200 1000 Median Home Sales Price $2,000,000 # Homes Sold 800 $1,500,000 600 $1,000,000 400 $500,000 200 $- 0 Year Media

  16. Slide 16: Construction Loans Paid Off in 2008

    Patriot National Bancorp, Inc. Construction Loans Paid Off in 2008 $110.5 Million in Patriot Construction Loans Were Paid Off or Refinanced at Other Institutions No Charge Offs Taken on Any Construction Loans Paid Off During 2008 The Average Outstanding Loan Balance on Paid Off Construction Loans Wa

  17. Slide 17: Interest Rate Risk Exposure

    Patriot National Bancorp, Inc. Interest Rate Risk Exposure No Long Term Fixed Rate Mortgages Held In Portfolio 17

  18. Slide 18: Allowance For Loan Losses

    Patriot National Bancorp, Inc. Allowance For Loan Losses All Amounts in Thousands $2,372 $2,934 $3,481 $4,588 $5,630 $5,673 $16,247 $15.1 Million Added To Allowance For Loan Losses In The Past 7 Years 2008 Write downs $715,000 2009 Write downs through March 31, 2009 $1.2 Million 18

  19. Slide 19: Analysis Of Allowance For Loan Losses

    Patriot National Bancorp, Inc. Analysis Of Allowance For Loan Losses 2008 2007 2006 2005 2004 2003 2002 (Thousands of Dollars) Balance At Beginning Of Period $5,673 $5,630 $4,588 $3,481 $2,934 $2,372 $1,894 * Net Recoveries (Charge-Offs) (715) (32) 2 (3) (9) (1) 10 Additions Charged To Operations 11

  20. Slide 20: Asset Quality

    Patriot National Bancorp, Inc. Asset Quality Investment Securities Portfolio (Available For Sale) No Sub-Prime Loan Exposure In Investment Portfolio All Mortgage Backed Securities Held In Portfolio Are U.S. Government Agency or Government Sponsored Agency Securities 20

  21. Slide 21: Net Interest Income

    Patriot National Bancorp, Inc. Net Interest Income All Amounts in Thousands $7,840 $9,626 $11,670 $14,879 $19,940 $24,095 $27,211 +14% +23% +21% +27% +34% +21% +13% % Increase over prior year 21

  22. Slide 22: Significant Unusual 2008 Events

    Patriot National Bancorp, Inc. Significant Unusual 2008 Events $11.3 Million Provisions to Allowance for Loan Losses $2.1 Million Impairment Charges on Investment Grade Auction Rate Securities* $1.4 Million Goodwill Impairment Charges $1.05 FHLMC – 100% Write Off * Note: All Auction Rate Securities

  23. Slide 23: Net Income

    Patriot National Bancorp, Inc. Net Income All Amounts in Thousands $1,052 $1,341 $926 $1,407 $2,415 $2,678 ($7,112) 23

  24. Slide 24: Earnings Per Share

    Patriot National Bancorp, Inc. Earnings Per Share Basic $0.44 $0.56 $0.38 $0.52 $0.67 $0.56 ($1.50) Fully Diluted $0.43 $0.55 $0.37 $0.51 $0.66 $0.56 ($1.50) 24

  25. Slide 25: Navigating Through The Economic Storm

    Patriot National Bancorp, Inc. Navigating Through The Economic Storm Steps Taken The Bank Currently has a Moratorium on Construction Loans and Commercial Real Estate Loans to Reduce Exposure The Bank’s Asset and Loan Growth Will be Modest Re-Appraisal Program Formed Experience Loan Workout Team 25

  26. Slide 26: Steps Taken

    Patriot National Bancorp, Inc. Steps Taken Eliminated Executive Bonuses in 2008 And 2009 Implemented a Salary Freeze on All Officers Assistant Vice President and Above Closed Long Island Lending Office Reduced the Number of Salary Based Commercial Real Estate Loan Officers by Nine Reduced Annual Mar

  27. Slide 27: 2009 Prospects

    Patriot National Bancorp, Inc. 2009 Prospects Non-Performing Loans Expected to Increase NPL’s Expected to Peak in the 4th Quarter 2009 and Then Trend Down in 2010 Continued Significant Provisions to Allowance For Loan Losses Net Operating Losses Writedowns of Construction Loans Until Disposed Of Lim

  28. Slide 28: Return To Profitability

    Patriot National Bancorp, Inc. Return To Profitability Dependent on End of Recession and Stabilization And Improvement in Local Real Estate Markets 28

  29. Slide 29: The Future

    Patriot National Bancorp, Inc. The Future Fewer Competitors The Bank Will Be Well Positioned Provided Capital is Raised and Problems Loans Are Resolved Patriot Has 19 Full Service Branches in One of The Most Desirable Real Estate Markets in The U.S. Loan and Deposit Pricing More Favorable for Banks

  30. Slide 30: Annual Shareholders Meeting

    Patriot National Bancorp, Inc. Annual Shareholders Meeting June 17, 2009 Greenwich Hyatt 30

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