Patriot National Bancorp ( (PNBK) ) just unveiled an update.
On March 20, 2025, Patriot National Bancorp announced it had entered into securities purchase agreements to raise over $50 million through a private placement. This move is expected to strengthen the company’s balance sheet and enhance its capital ratios. The funds will be used to invest additional capital into Patriot Bank and for general corporate purposes. The announcement also included the resignation of CEO David Lowery, effective April 15, 2025, and the signing of a long-term employment agreement with President Steven Sugarman. The capital raise marks a significant turning point for Patriot National Bancorp, enabling it to pursue new market opportunities.
More about Patriot National Bancorp
Patriot National Bancorp, Inc. operates in the financial services industry, primarily offering banking services through its wholly-owned subsidiary, Patriot Bank, N.A. The company focuses on enhancing its digital payments platform and serving entrepreneurs, business leaders, and investors in the tri-state community.
YTD Price Performance: -43.85%
Average Trading Volume: 1,024,350
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.98M
Find detailed analytics on PNBK stock on TipRanks’ Stock Analysis page.