XML 27 R13.htm IDEA: XBRL DOCUMENT
v3.24.1

Loans Held for Sale | 12 Months Ended
--- | ---
Dec. 31, 2023
Receivables [Abstract] |
Loans Held for Sale | Loans Held for Sale SBA Loans Held for Sale SBA loans held for sale represent the guaranteed portion of SBA loans originated and are reflected at the lower of aggregate cost or market value. There were $9.9 million of SBA loans held for sale at December 31, 2023, consisting of $3.5 million SBA commercial and industrial loans and $6.4 million SBA commercial real estate loans. As of December 31, 2022, SBA loans held for sale totaled $5.2 million, consisting of $3.1 million of SBA commercial and industrial loans and $2.1 million SBA commercial real estate loans. During 2023 and 2022, zero and $274,000 SBA loans previously classified as held for sale were transferred to held for investment, respectively. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the unguaranteed portion in its portfolio. When sales of SBA loans do occur, the premium received on the sale and the present value of future cash flows of the servicing assets, less the discount of the retained portion of the loan are recognized in income. Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment will be evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. Serviced loans sold to others are not included in the accompanying consolidated balance sheets. The total amount of such loans serviced, but owned by third party, amounted to approximately $47.5 million and $47.3 million at December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, the servicing asset has a carrying value of $857,000 and $886,000, respectively, and fair value of $932,000 and $1.0 million, respectively. Income and fees collected for loan servicing are credited to non-interest income when earned, net of amortization on the related servicing assets. The servicing asset is included in other assets on the Consolidated Balance Sheets. The following table presents an analysis of the activity in the SBA servicing assets for the years ended December 31, 2023, 2022 and 2021:
(In thousands) | Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Beginning balance | $ | 886 |  |  | $ | 584 |  |  | $ | 316 |
Servicing rights capitalized | 85 |  |  | 400 |  |  | 335 |
Servicing rights amortized | (67) |  |  | (87) |  |  | (22) |
Servicing rights disposed | (47) |  |  | (11) |  |  | (45) |
Ending balance | $ | 857 |  |  | $ | 886 |  |  | $ | 584 |
Loans held for sale - Consumer Loans Patriot Bank's Digital Payments Group has entered into a Program Management Agreement with a Buyer. Under the agreement, Patriot originates various types of consumer loans that are marketed by the buyer. As of December 31, 2023, the Bank had credit card loans held for sale totaling $10.8 million. The credit card loans are expected to be held for no longer than three days before being sold to the buyer. The credit card loans are fully cash-secured by deposits at Patriot. The credit card loans are sold to the buyer as a whole loan sale transaction, priced at par, thus there is no servicing asset or gain or loss on sale.

X
- Definition The entire disclosure for loans held for sale. + References No definition available. + Details
Name: | pnbk_LoansHeldForSaleTextBlock
Namespace Prefix: | pnbk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration