Patriot National Bancorp Inc., the parent company of Stamford-based Patriot Bank, reported net income of $1 million in the second quarter of 2021, compared to a net loss of $1.3 million in Q2 2020.

Net income year to date is $1.9 million, compared to a net loss of $2.4 million in the first two quarters of 2020.

The bank has improved its net interest margins, grown core deposits and lowered operating expenses, the company said in a statement. Its prepaid portfolio continues to be a low-cost funding source and has grown to $137.8 million as of June 30, from $50.0 million in July 2020.

“The bank’s focus on improving its funding sources, asset quality and loan growth continues to have a positive impact on the bank’s financial condition,” Patriot President and CEO Robert Russell said in a statement. “Key additions to staff and ongoing process improvements will contribute to continued advancement of our pursuit of performance. We are pleased with the progress that we have made so far even in what remains a challenging economic environment.”