Patriot Bank expands board of directors, leadership team
Board of Directors Election: Patriot Bank has elected Richard Smith, Jeffrey Seabold, and Thedora Nickel to its Board of Directors.
Management Team Appointments: New leadership appointments include Paul Simmons as Executive Vice President and Chief Credit Officer, Nicole L. Wells as Senior Vice President and Head of Operations, Rebecca Mais as Senior Vice President for High Net Worth and Specialty Deposits, and Raquel Gillett as Senior Vice President for Digital Automation and Risk Analytics.
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Patriot National Bancorp raises $10M in direct stock offering
Recent Offering: Patriot National Bancorp completed a registered direct offering of approximately 8.52 million shares at $1.25 per share, raising about $10.65 million in gross proceeds.
Stock Performance: Following the offering, the company's stock price increased by 3.3% during after-market trading hours.
Patriot National Bancorp Announces Completion of $10M Registered Direct Offering
Successful Stock Offering: Patriot National Bancorp, Inc. has completed a registered direct offering of 8,524,160 shares of common stock at $1.25 per share, raising gross proceeds of $10,655,200, following a previous private placement that raised over $50 million.
Strengthened Capital Base: The company's president expressed confidence in the strong investor interest and noted that the successful offering enhances the bank's capital base, positioning it to better serve clients and achieve strategic objectives.
