Patriot National Bancorp Announces Completion of $10M Registered Direct Offering STAMFORD, Conn., June 05, 2025 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (NASDAQ: PNBK) (the “Company”), the parent company of Patriot Bank, N.A., today announced that it has successfully completed a registered direct offering of 8,524,160 shares of its common stock at a purchase price of $1.25 per share, raising gross proceeds of $10,655,200. The registered direct offering follows the Company’s March 20, 2025 private placement that raised over $50 million in gross proceeds from a diverse group of a...
Patriot Bank Expands Its Board and Senior Leadership Team Richard Smith, Jeff Seabold and Thedora Nickel elected Directors.Paul Simmons appointed EVP, Chief Credit OfficerNicole L. Wells appointed SVP, Head of OperationsRebecca Mais appointed SVP, High Net Worth and Specialty DepositsRaquel Gillett appointed SVP, Digital Transformation and Risk Analytics STAMFORD, Conn., May 19, 2025 (GLOBE NEWSWIRE) -- Patriot Bank, N.A. (“Patriot Bank”), the wholly owned subsidiary of Patriot National Bancorp, Inc. (NASDAQ: PNBK), is pleased to announce the election of Richard Smith, Jeffrey Seabold an...
Patriot National Bancorp Announces Over $50 Million Private Placement Equity recapitalization is expected to result in strong balance sheet and robust capital ratiosPresident Steven Sugarman entered into long-term employment agreementCEO David Lowery announces his decision to depart the CompanyPatriot Bank remains committed to enhancing its digital payments platform and to empowering the entrepreneurs, business leaders, and investors throughout the tri-state community. STAMFORD, Conn., March 20, 2025 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (the “Company”) (NASDAQ: PNBK) announ...
Patriot Reports Second Quarter Results Increases Loan Balances, Credit Reserves & Liquidity STAMFORD, Conn., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net loss of $546 thousand, or $(0.14) basic and diluted loss per share for the quarter ended June 30, 2023. These results compared to net loss of $53 thousand, or $(0.01) per basic and diluted loss per share for the first quarter of 2023 and net income of $1.3 million, or $0.32 basic and ...
Patriot Bank Announces Appointment of Grace Doherty to the Board of Directors STAMFORD, Conn., July 21, 2023 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced that Grace Doherty, of Milton MA, has been appointed to the Board of Directors of the Bancorp and the Bank. Ms. Doherty brings significant experience to Patriot, having led a successful banking career for several regional banks in the New York area. She most recently served as Group Director for Sterling N...
Patriot Reports Break Even First Quarter Increases Loan Balances, Credit Reserves & Liquidity STAMFORD, Conn., May 12, 2023 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net loss of $53.0 thousand, or $(0.01) basic and diluted loss per share for the quarter ended March 31, 2023. These results compared to net income of $1.8 million, or $0.45 per basic and diluted earnings per share for the fourth quarter of 2022 and net income of $800 thousand, or $0.20...
Patriot Bank Announces Promotion of Chief Lending Officer to President & CEO STAMFORD, Conn., March 29, 2023 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced the promotion of David Lowery to become President and CEO of the Bank, succeeding Robert Russell. Effective after a transitionary period through late April 2023, Mr. Russell will be leaving Patriot to pursue another career opportunity. A positive builder of the Patriot Brank brand, Mr. Russell worked to en...
Patriot Reports Fourth Quarter 2022 Net Income of $1.8 million, $0.45 per share; Full Year Net Income of $6.2 million, $1.56 per share Pre-tax Income and Net Interest Margin buoyed by exceptional loan and deposit growth STAMFORD, Conn., March 07, 2023 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net income of $1.8 million, or $0.45 basic and diluted earnings per share for the quarter ended December 31, 2022. These results compare to net income of $2.3 mil...
Patriot National Bancorp Announces Completion of $12 Million Senior Debt Offering STAMFORD, Conn., Dec. 21, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, National Association (the “Bank”), today announced the issuance and sale (the “Offering”) of $12 million in aggregate principal amount of 8.50% Fixed-Rate Senior Notes due 2026 (the “Notes”). The Company used the proceeds from the Offering to repay in full its 7.50% Senior Notes, due on December 31, 2022. The Notes bear interest at a fi...
Patriot Reports Third Quarter 2022 Net Income of $2.3 million, $0.59 per share; continued growth in loans and deposits Tom Slater hired as Chief Credit Officer Payment Card Business Triples Since Inception, as Bank Assets Approach $1.1 Billion STAMFORD, Conn., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net income of $2.3 million, or $0.59 basic and diluted earnings per share for the quarter ended September 30, 2022. These results reflect ...
Patriot Bank elevates leader in payments to Executive Vice President and Chief Payment Officer STAMFORD, Conn., Sept. 23, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. ("Patriot") (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the "Bank"), today announced that the Bank has promoted Al Botta, Jr. to Executive Vice President and Chief Payments Officer. Mr. Botta joined Patriot Bank in 2018 as SVP, Director of Payments. He brings with him over twenty years of experience in the payments and prepaid market space and has been responsible for the growth of the Bank’s paymen...
Patriot Reports Second Quarter 2022 Net Income of $1.3 million; continued growth in loans and deposits STAMFORD, Conn., Aug. 05, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net income of $1.3 million, or $0.32 basic and diluted earnings per share for the quarter ended June 30, 2022, compared to $800,000, or $0.20 per basic and diluted earnings per share for the first quarter of 2022 and net income of $1.0 million, or $0.26 basic and diluted earnings pe...
Patriot Bank Announces Termination of Merger Agreement with American Challenger STAMFORD, Conn., July 20, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc., a Connecticut corporation (“Patriot”), today announced the termination of the Merger Agreement, dated November 14, 2021, between Patriot and American Challenger Development Corp. (“American Challenger”), as amended (the “Merger Agreement”). The parties have mutually determined that not all closing conditions of the Merger Agreement can be satisfied under the current structure and agreement. Although the parties remain in active ...
Patriot National Bancorp Extends Maturity of $12 million of Senior Notes STAMFORD, Conn., June 24, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot”) (NASDAQ: PNBK) announced today that it had formally extended the maturity of its $12 million senior notes (the “Notes”) that were to mature on June 30, 2022. The extension provides for a new maturity date of December 31, 2022. The interest rate shall be increased 25bps from 7.0% to 7.25% per annum from the period of July 1, 2022, through September 30, 2002. In the event the Notes remain outstanding beyond September 30, 2022,...
Patriot Reports First Quarter 2022 Net Income of $800,000; continued growth in loans and deposits STAMFORD, Conn., May 05, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net income of $800,000, or $0.20 basic and diluted earnings per share for the quarter ended March 31, 2022, compared to a net income of $854,000, or $0.22 basic and diluted earnings per share reported in the first quarter of 2021. The prior year first quarter results included the recognit...
Patriot Reports Fourth Quarter 2021 Net Income of $1.9 Million and full year Net Income of $5.1 Million; continued growth in loans and deposits STAMFORD, Conn., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced net income of $1.9 million, or $0.48 basic and diluted earnings per share for the quarter ended December 31, 2021, compared to a net loss of $1.4 million, or $0.35 basic and diluted loss per share reported in the fourth quarter of 2020. For t...
Patriot National Bancorp Extends Maturity of $12 million of Senior Notes STAMFORD, Conn., Nov. 19, 2021 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (“Patriot”) (NASDAQ: PNBK) announced today that it has formally extended the maturity of its $12 million of senior notes that were to mature on December 22, 2021. The extension provides for the same terms under the existing senior notes, other than that they can be repaid anytime on or before June 30, 2022. The purpose of the extension is to provide Patriot with the time necessary to raise its intended $80 million of subordinated notes ...
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