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Cover - shares
3 Months Ended
Mar. 31, 2023
Nov. 13, 2023
Cover [Abstract]    
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2023  
Document Transition Report false  
Entity File Number 000-29599  
Entity Registrant Name PATRIOT NATIONAL BANCORP INC  
Entity Incorporation, State or Country Code CT  
Entity Tax Identification Number 06-1559137  
Entity Address, Address Line One 900 Bedford Street  
Entity Address, City or Town Stamford  
Entity Address, State or Province CT  
Entity Address, Postal Zip Code 06901  
City Area Code 203  
Local Phone Number 252-5900  
Title of 12(b) Security Common Stock  
Trading Symbol PNBK  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   3,965,186
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001098146  
Amendment Flag true  
Amendment Description The Company is filing this Amendment No. 1 on Form 10-Q/A (this “Amended Filing”) to its Quarterly Report on Form 10-Q for the three months ended March 31, 2023 (“Original Filing”) to: (i) restate management's conclusions regarding the effectiveness of its disclosure controls and procedures as of March 31, 2023; (ii) reissue the consolidated financial statements for the three months ended March 31, 2023 to reflect changes in the provision for credit losses resulting from the material weaknesses in internal controls over financial reporting. Accordingly, the Company hereby amends and replaces in their entirety Items 1, 2, and 4 in Part I. Subsequent to filing the Original Filing on May 12, 2023, management became aware of an accounting error related to the calculation of the current expected credit loss (“CECL”) transition adjustment and corresponding credit loss provisions for a portfolio of unsecured consumer loans (the “Portfolio”) purchased by the Company from an originator/servicer mostly during the 2022 calendar year. Management determined that the error was due to the use of unsupported and incorrect data points used in conjunction with the data provided by the third party originator/servicer. The necessary changes to the CECL transition adjustment affected the reported total shareholders’ equity/accumulated deficit, totaling $5.3 million net of tax. The adjustments to the retained earnings for the quarter ended March 31, 2023 were determined to be material to total shareholders equity. The restatement has no impact on the audit report for the year ended December 31, 2022.The Company has concluded that there is a material weakness in internal control over financial reporting, related to the allowance for credit losses, as the Company did not maintain effective controls over the recording, monitoring and valuation when calculating the accumulated credit losses on the purchased Portfolio of loans and related commitments. Specifically the Company’s management has determined that the Company’s financial reporting controls and procedures with respect to the allowance for credit losses were not operating effectively for the quarter ended March 31, 2023. Accordingly, management has determined that the Company's disclosure controls and procedures were not effective as of March 31, 2023.As required by Rule 12b-15, the Company's principal executive officer and principal financial officer are providing new currently dated certifications. Accordingly, the Company hereby amends Item 6 in Part II in the Original Filing to reflect the filing of the new certifications.For the convenience of the reader, this Amended Filing sets forth the complete form of the Original Filing, as modified where necessary to reflect the restatement and revisions. Except as described above, this Amended Filing does not amend, update or change any other items or disclosures in the Original Filing and does not purport to reflect any information or events subsequent to the filing thereof. As such, this Amended Filing speaks only as of the date the Original Filing was filed, and the Company has not undertaken herein to amend, supplement or update any information contained in the Original Filing to give effect to any subsequent events. Accordingly, this Amended Filing should be read in conjunction with the Company's filings made with the SEC subsequent to the filing of the Original Filing, including any amendment to those filings.For additional information about this restatement, refer to Note 1. Basis of Presentation and Restatement of Consolidated Financial Statements, of the Notes to consolidated financial statements.