Welcome to our dedicated page for Patriot Natl news (Ticker: PNBK), a resource for investors and traders seeking the latest updates and insights on Patriot Natl stock.
News and filings about Patriot National Bancorp, Inc. (NASDAQ: PNBK) focus on its activities as the parent of Patriot Bank, N.A., a nationally chartered community and commercial bank headquartered in Stamford, Connecticut. Founded in 1994, the company regularly issues updates on financial performance, capital actions, governance, and leadership developments that are relevant to investors and followers of regional commercial banking.
Company news has included quarterly and annual financial results, highlighting trends in net income or loss, loan and deposit growth, net interest margin, and asset quality. Releases provide detail on how changes in reserves, funding costs, and loan portfolio composition affect reported results, and they describe the impact of regulatory and accounting changes such as the adoption of the current expected credit loss methodology.
Patriot National Bancorp also announces capital markets transactions through its news flow. Examples include senior debt offerings and refinancings, private placements of equity securities, and registered direct offerings of common stock and warrants. These announcements explain how proceeds are used to strengthen the balance sheet of Patriot National Bancorp and Patriot Bank and to support strategic objectives.
Governance and leadership updates are another key component of PNBK news. The company reports on director elections, board committee roles, equity incentive plans, and changes in its independent registered public accounting firm. Patriot Bank and Patriot National Bancorp have also publicized appointments and promotions of senior executives, board chairs, and independent directors with backgrounds in banking, wealth management, real estate finance, and digital financial services.
Operational and strategic news covers areas such as the Bank’s Payments division, Deposit Strategies Division, and Digital Payments Division, as well as initiatives in digital transformation and risk analytics. These updates describe efforts to expand deposit channels, enhance digital capabilities, and support clients in the Bank’s branch markets and SBA lending geographies. For ongoing insight into Patriot National Bancorp’s financial condition, strategy, and corporate governance, readers can follow this dedicated PNBK news feed.
Patriot Bank (NASDAQ: PNBK) announced board leadership changes effective Oct 30, 2025: Thedora Nickel is named Chair of the Patriot Bank Board of Directors and Steven Sugarman, president and CEO, is named Chair of the Patriot National Bancorp board. Ms. Nickel has served on the Patriot Bank board since May 19, 2025 and brings 30+ years of banking operations and transformation experience, including senior roles at Banc of California and Bank of America.
Michael Carrazza transitions to Chairman Emeritus and remains a director; the board cites recent capital transactions and strengthened management as drivers of the change.
Patriot Bank (NASDAQ: PNBK) has announced significant expansion of its leadership team with three new board members and four senior executive appointments. The new directors include Richard Smith, bringing 40 years of private banking expertise, Jeffrey Seabold, a seasoned entrepreneur with 30 years in corporate strategy and banking, and Thedora Nickel, with over 30 years in banking operations.
The executive appointments include Paul Simmons as EVP and Chief Credit Officer, Nicole L. Wells as SVP and Head of Operations, Rebecca Mais as SVP of High Net Worth and Specialty Deposits, and Raquel Gillett as SVP of Digital Transformation and Risk Analytics. These appointments strengthen Patriot Bank's focus on serving high-net-worth clients and their fiduciaries.
Patriot National Bancorp (NASDAQ: PNBK) has secured over $50 million through a private placement, issuing common stock and non-voting preferred stock to accredited investors. The capital raise aims to strengthen the balance sheet and capital ratios of both the Company and Patriot Bank NA.
The company announced leadership changes with CEO David Lowery's planned departure by April 15, 2025, while President Steven Sugarman has entered into a long-term employment agreement. Sugarman, former Founder and CEO of Banc of California, will lead the company forward.
The private placement was co-led by Sugarman and FlyHouse Management affiliates, with Performance Trust Capital Partners serving as strategic advisor and placement agent. The securities offered in this private placement have not been registered under the Securities Act of 1933.
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Patriot National Bancorp (NASDAQ: PNBK) has announced the promotion of David Lowery to President and CEO of Patriot Bank, effective late April 2023, succeeding Robert Russell. Russell is leaving to pursue another career opportunity after enhancing earnings and operations during his tenure. Lowery, who served as Chief Lending Officer for two years, has significantly contributed to the bank's growth in commercial and consumer sectors. The Board of Directors has expressed unanimous support for Lowery's promotion and is committed to providing resources for continued growth.
Patriot National Bancorp reported Q4 2022 net income of $1.8 million ($0.45 per share), down from $2.3 million in Q3 2022. Annual net income rose to $6.2 million for 2022, a 21.6% increase from 2021. Pre-tax income grew 95% to $7.8 million, excluding non-recurring items. Notable growth in loans (14.7%) and deposits (14.9%) was achieved, with net interest margin increasing to 3.77% in Q4 2022. Total assets reached $1 billion, while non-interest income declined to $3.6 million due to lower SBA loan sales. Shareholders' equity decreased to $59.6 million, resulting in a book value of $15.03 per share.
Patriot National Bancorp (NASDAQ: PNBK) has announced the issuance of $12 million in 8.50% Fixed-Rate Senior Notes due 2026. The proceeds will be used to fully repay its existing 7.50% Senior Notes, due at the end of 2022. These new Notes will earn interest semi-annually, starting July 15, 2023. The Chairman, Michael Carrazza, highlighted the strategic importance of this refinancing, which will provide the company with more time to achieve its objectives. The offering was facilitated by Keefe, Bruyette & Woods and PNC FIG Advisory.
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