Patriot Bank Announces New Board Chairs
Rhea-AI Summary
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.
Positive
- Thedora Nickel named Chair of Patriot Bank board (effective Oct 30, 2025)
- Steven Sugarman named Chair of Patriot National Bancorp board while serving as president and CEO
- Michael Carrazza retains board role as Chairman Emeritus for continuity
- Board adds 30+ years of banking operations and transformation experience via Nickel
Negative
- None.
News Market Reaction 6 Alerts
On the day this news was published, PNBK gained 3.42%, reflecting a moderate positive market reaction. Argus tracked a peak move of +13.9% during that session. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $5M to the company's valuation, bringing the market cap to $144M at that time.
Data tracked by StockTitan Argus on the day of publication.
STAMFORD, Conn., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Patriot Bank, N.A. (“Patriot Bank”) and its holding company Patriot National Bancorp, Inc. (NASDAQ: PNBK) are pleased to announce Thedora Nickel as the new Chair of the Patriot Bank Board of Directors and President and Chief Executive Officer Steven Sugarman as Chair of the Patriot National Bancorp Inc. Board of Directors.
Thedora Nickel has served on the Board of Patriot Bank since May 19, 2025, and has over 30 years of bank experience, with deep expertise in operations, client service, and organizational transformation. She currently serves as Executive Director of The Change Company and Change Lending. Prior to this role, Ms. Nickel was Chief Administrative Officer at Banc of California where she led the strategic direction of key enterprise and operational functions. She previously held several senior leadership positions at Bank of America, most recently as SVP, Group Operations Executive, overseeing national research, resolution, and reconcilement functions in support of the bank’s bank centers, capture sites, and cash vaults. Earlier, she led the Transaction Services West Region with responsibility for over two thousand employees and five processing units.
A certified Six Sigma Executive, Ms. Nickel mentors MBA students at the University of California, Irvine and serves on the board of The Whole Child, a non-profit organization serving vulnerable families in Los Angeles County.
Michael Carrazza, who has served as Chairman of both Patriot National Bancorp, Inc. and Patriot Bank since 2010, commented, “I’m confident that the recent capital transactions and enhanced management capabilities brought by Steven Sugarman and his operating team will bring great value to Patriot and its shareholders. I’m thrilled to welcome both Steven and Thedora to assume these roles.” Mr. Carrazza has been named Chairman Emeritus and will continue to serve as a Director of both entities.
For more information about Patriot Bank, please visit www.bankpatriot.com
Media Contact:
Kirsten Hoekman
Patriot Bank, N.A.
Phone: (203) 252-5912
Email: khoekman@bankpatriot.com
FAQ
Who became Chair of the Patriot Bank board on Oct 30, 2025 for PNBK?
Who is Chair of Patriot National Bancorp (PNBK) after the Oct 30, 2025 announcement?
What role will Michael Carrazza hold after the Oct 30, 2025 leadership change at PNBK?
How long has Thedora Nickel served on the Patriot Bank board before becoming Chair of PNBK?
Does the Oct 30, 2025 announcement indicate changes to Patriot Bank management responsibilities?
