Patriot National Bancorp, Inc. operates as the holding company for Patriot Bank, N.A. that provides community banking services to individuals, small and medium-sized businesses, and professionals. The company offers consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal, money market, savings, prepaid deposit, on-line national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service. Its loan portfolio comprises commercial real estate, commercial business, SBA, construction, purchased residential real estate, and various consumer loans. The company also offers automated clearing house transfers, lockbox, Internet banking, bill payment, remote deposit capture, debit card, money order, traveler's check, and automatic teller machine services. As of December 31, 2020, it operated through a network of eight branch offices located in Fairfield and New Haven Counties, Connecticut; and one branch offices located in Westchester County, New York. The company was founded in 1994 and is headquartered in Stamford, Connecticut. Patriot National Bancorp, Inc. was formerly a subsidiary of PNBK Holdings LLC.
IPO Year:
Exchange: NASDAQ
Website: bankpatriot.com
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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) announced today that it has entered into securities purchase agreements to raise over $50 million in a private placement and agreed to issue shares of common stock and non-voting p
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 diluted earnings per share reported in the second quarter of 2022. For the six months ended June 30, 2023, net loss was $599 thousand, or $(0.15) basic and diluted loss per share, compared to a n
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 National Bank's Digital Bank after building Sterling's Small Business and Consumer business. Since leaving Sterling, Ms. Doherty has been a strategy consultant focused on developing h
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 basic and diluted earnings per share reported in the first quarter of 2022. The first quarter of 2023 financial results were adversely impacted by increasing reserves, which resulted in an eleva
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 million, or $0.59 basic and diluted earnings per share for the third quarter of 2022 and net income of $1.9 million, or $0.48 basic and diluted earnings per share reported in the fourth quarter of 2021. Net income for the full year ended December 31, 2022 was $6.2 million, or $1.56 basic and $1.55 diluted
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 fixed annual rate of 8.50%, payable semi-annually in arrears on January 15 and July 15 of each year, beginning July 15, 2023. The Notes' maturity date is January 15, 2026. The Company is e
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 an increase as compared to $1.3 million, or $0.32 per basic and diluted earnings per share for the second quarter of 2022 and net income of $1.3 million, or $0.34 basic and diluted earnings per share reported in the third q
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 payments division. Mr. Botta's industry knowledge and experience have translated to significant growth in the Bank's payments division. Mr. Botta has served in various senior capacities with several instit
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 per share reported in the second quarter of 2021. The 2021 second quarter included the benefit of a non-recurring employee retention tax credit ("ERC") of $1.1 million. For the six months ended June 30, 2022,
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 discussions regarding a modified transaction, it is uncertain whether a new agreement can be reached. Accordingly, it was by mutual agreement of the companies and was unanimously appr
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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 diluted earnings per share reported in the second quarter of 2022. For the six months ended June 30, 2023, net loss was $599 thousand, or $(0.15) basic and diluted loss per share, compared to a n
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 basic and diluted earnings per share reported in the first quarter of 2022. The first quarter of 2023 financial results were adversely impacted by increasing reserves, which resulted in an eleva
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 million, or $0.59 basic and diluted earnings per share for the third quarter of 2022 and net income of $1.9 million, or $0.48 basic and diluted earnings per share reported in the fourth quarter of 2021. Net income for the full year ended December 31, 2022 was $6.2 million, or $1.56 basic and $1.55 diluted
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 an increase as compared to $1.3 million, or $0.32 per basic and diluted earnings per share for the second quarter of 2022 and net income of $1.3 million, or $0.34 basic and diluted earnings per share reported in the third q
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 per share reported in the second quarter of 2021. The 2021 second quarter included the benefit of a non-recurring employee retention tax credit ("ERC") of $1.1 million. For the six months ended June 30, 2022,
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 recognition of an employee retention tax credit (ERC) of $843,000, while no ERC was recognized in the first quarter of 2022. Along with reporting a substantial improvement net interest income and strong earnin
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 the year ended December 31, 2021, net income was $5.1 million, or $1.29 per fully diluted share, compared to a net loss of $3.8 million, or $0.97 fully diluted loss per share for the year ended December 31, 2020. During the year ended December 31,
Combination will create a purpose-driven, digital-first national bank offering better rates and a premium customer experience Patriot enters into separate agreements with investors to provide $540 million as part of its $890 million merger recapitalization STAMFORD, Conn., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. ("Patriot" (NASDAQ: PNBK)), the parent company of Patriot Bank, N.A. (the "Bank"), and American Challenger Development Corp. ( "American Challenger"), announced today that they have entered into a definitive agreement (the "Merger Agreement") under which Patriot will acquire American Challenger via a reverse subsidiary merger, with American Challenger sur
STAMFORD, Conn., Oct. 29, 2021 (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 $0.34 basic and diluted earnings per share for the quarter ended September 30, 2021, compared to a net loss of $87,000, or $0.02 basic and diluted loss per share reported in the third quarter of 2020. On a year-to-date basis, net income was $3.2 million, or $0.81 per fully diluted share, compared to a net loss of $2.4 million, or $0.62 fully diluted loss per share during the same year-to-date period in 2020. The Bank continued to show i
STAMFORD, Conn., May 13, 2021 (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 pre-tax income of $1.2 million and net income of $854 thousand, or $0.22 basic and diluted earnings per share for the quarter ended March 31, 2021, compared to a net loss of $1.1 million reported in the first quarter of 2020. Profitability in the first quarter was achieved as the Bank demonstrated improved net interest margins, core deposit growth, lower operating expenses, and a lower loan loss provision. In addition, during the quarter the Bank recognized a payroll tax credit of $8
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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 National Bank's Digital Bank after building Sterling's Small Business and Consumer business. Since leaving Sterling, Ms. Doherty has been a strategy consultant focused on developing h