24/7 Market News Snapshot 20 March, 2025 – Patriot National Bancorp Inc (NASDAQ:PNBK)

March 20, 2025

DENVER, Colo., 20 March, 2025 (247marketnews.com) – (NASDAQ:PNBK) are discussed in this article.
Patriot National Bancorp Inc (PNBK) has demonstrated remarkable momentum, with its stock opening at $1.03 and exhibiting a substantial increase of over 71.81%, currently trading at $1.804. This bullish trend is underpinned by a vigorous trading volume of 729.50K, indicating a robust interest from investors and growing confidence in the company’s prospects. Analysts advise stakeholders to monitor this stock closely due to its potential for further upward movement.

In a significant move to strengthen its financial foundation, Patriot National Bancorp has successfully raised over $50 million through a private placement involving the issuance of common and non-voting preferred stock to a range of accredited investors. This initiative aims to enhance the capital structure of both Patriot National Bancorp and its wholly owned banking subsidiary, Patriot Bank, N.A. President Steven Sugarman expressed gratitude for the overwhelming investor support, emphasizing that this capital infusion will empower the company to meet the diverse needs of its clientele effectively.

Furthermore, the company announced the departure of Chief Executive Officer David Lowery, while securing a long-term employment agreement for Mr. Sugarman, who has a commendable track record as a leader and strategist. Michael Carrazza, Chairman of the Board, underscored the significance of this capital raise as a pivotal moment for the organization, positioning it to capitalize on attractive market opportunities.

Mr. Lowery reaffirmed his commitment to ensuring a seamless transition as he steps down, taking pride in having guided Patriot Bank through its successful recapitalization. With an eye toward innovation in its digital payments platform, Patriot National Bancorp remains dedicated to serving entrepreneurs, business leaders, and investors, thus positioning itself for future growth in the evolving financial landscape.

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