Recent Updates — PNBK

Patriot National Bancorp, Inc. entered into a securities purchase agreement on September 23, 2026, to conduct a registered direct offering of 4,782,608 shares of voting common stock and 956,522 five-year warrants at $1.15 per share. The company expects net proceeds of approximately $5.5 million after estimated expenses of $350,000. Each warrant allows the purchase of non-voting common stock at an exercise price of $1.25 per share, exercisable no earlier than six months post-closing. Proceeds will be invested in its bank subsidiary for general corporate purposes. Patriot National Bancorp operates as a financial holding company providing banking services through its wholly-owned subsidiary.

On September 18, 2026, Patriot National Bancorp, Inc. entered into Subordinated Note Purchase Agreements to issue and sell $10.0 million in aggregate principal amount of its 8.5% Fixed to Floating Rate Subordinated Notes due September 30, 2036. The notes bear interest at a fixed annual rate of 8.5%, payable semi-annually through September 30, 2031, after which the rate resets quarterly to three-month SOFR plus 416 basis points. The company may redeem the notes in whole or in part on or after September 30, 2031, subject to regulatory approval if required. These unsecured obligations are intended to qualify as Tier 2 capital for regulatory purposes and rank junior to senior indebtedness. Patriot National Bancorp operates as a bank holding company providing financial services.

On June 30, 2026, the Office of the Comptroller of the Currency (OCC) officially terminated the Formal Agreement between the OCC and Patriot Bank, NA, a wholly-owned subsidiary of Patriot National Bancorp, Inc. This agreement had been in place since January 14, 2025. The company issued a press release and an investor letter regarding this termination on July 1, 2026. Patriot National Bancorp, Inc. is a financial services company providing banking services through its subsidiary.