<SEC-DOCUMENT>0001437749-21-010249.txt : 20210429
<SEC-HEADER>0001437749-21-010249.hdr.sgml : 20210429
<ACCEPTANCE-DATETIME>20210429165803
ACCESSION NUMBER:		0001437749-21-010249
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210429
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210429
DATE AS OF CHANGE:		20210429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PATRIOT NATIONAL BANCORP INC
		CENTRAL INDEX KEY:			0001098146
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				061559137
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29599
		FILM NUMBER:		21871690

	BUSINESS ADDRESS:	
		STREET 1:		900 BEDFORD ST
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2033247500
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pnbk20210429_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM 8-K</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">CURRENT REPORT</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Date of Report (Date of Earliest Event Reported):&nbsp;&nbsp;April 29, 2021</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>PATRIOT NATIONAL BANCORP, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in its Charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Connecticut</b></p>
			</td>
			<td style="vertical-align:top;width:3.4%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:top;width:33%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>000-29599</b></p>
			</td>
			<td style="vertical-align:top;width:3.4%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:top;width:29.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>06-1559137</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:30.8%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other Jurisdiction<br>
			of Incorporation)</p>
			</td>
			<td style="vertical-align:top;width:0%;">&nbsp;</td>
			<td style="vertical-align:top;width:33%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Commission File Number)</p>
			</td>
			<td style="vertical-align:top;width:0%;">&nbsp;</td>
			<td style="vertical-align:top;width:29.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer&nbsp;<br>
			Identification No.)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>900 Bedford Street</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Stamford, Connecticut 06901</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address of Principal Executive Offices)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Registrant&#8217;s telephone number, including area code:&nbsp;&nbsp;<b>(203) 252-5900</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">N/A</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Former Address of Principal Executive Offices)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation under any of the following provisions (<i>see</i>&nbsp;General Instruction A.2. below):</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="vertical-align:top;width:0.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:0%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:0.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:0%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:0.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:0%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:0.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:0%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c))</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Emerging growth company&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&#9744;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin: 0">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:36.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Title of each class</p>
			</td>
			<td style="vertical-align:bottom;width:1.7%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:29%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Trading symbol</p>
			</td>
			<td style="vertical-align:bottom;width:1.6%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:30.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Name of each exchange on which registered</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:36.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Common Stock</p>
			</td>
			<td style="vertical-align:bottom;width:0%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:29%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">PNBK</p>
			</td>
			<td style="vertical-align:bottom;width:0%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:30.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">NASDAQ Global Market</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
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<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Section 5 </b>&#8211;<b> Corporate Governance and Management</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</i></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">On April 29, 2021, Patriot National Bancorp, Inc. (the &#8220;Company&#8221;) appointed Karen Rojeski as its Executive Vice President and Chief Credit Officer, promoted Steven Grunblatt as Executive Vice President and Chief Information Officer, and appointed David Lowery as Head of Lending of Patriot Bank, the Company&#8217;s wholly-owned subsidiary.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ms. Rojeski most recently served as Executive Vice President, Chief Credit Officer at Metropolitan Commercial Bank and previously held the position of Senior Vice President, Special Assets Department Manager at Union Savings Bank. Ms. Rojeski brings to the Company a rich and diverse experience in community bank credit and lending. Ms. Rojeski holds an undergraduate degree from San Francisco State University and a Master of Science from Fairfield University.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Mr. Grunblatt joined Patriot Bank in 2014 as Senior Vice President, Director of Technology. He has over twenty-five years of experience in various facets of information technology, including management and oversight of all aspects of vendor management, infrastructure and technology implementation. Mr. Grunblatt graduated from the Wharton School of Business in Pennsylvania with a bachelor&#8217;s degree in Economics.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Mr. Lowery is an experienced lending executive and will be responsible for originations, pool purchases and directing the lending function of Patriot Bank. Mr. Lowery has served in various senior capacities with several institutions including Iberia Bank, Metropolitan and M&amp;T Bank. He has built highly successful lending businesses in the New York metropolitan area. Mr. Lowery holds an MBA from Loyola University in Maryland in addition to his Undergrad in Economics from Loyola.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Section 7 </b>&#8211;<b> Regulation FD</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Item 7.01 Regulation FD Disclosure</i></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">On April 29, 2021, the Company issued a press release, a copy of which is attached hereto as Exhibit 99.1, regarding the appointment of Ms. Rojeski as its Executive Vice President and Chief Credit Officer, the promotion of Mr. Grunblatt as Executive Vice President and Chief Information Officer, and the appointment of Mr. Lowery as Head of Lending.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The information contained in this Current Report on Form 8-K (including the exhibit) is being furnished and shall not be deemed &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Section 9 -</b>&nbsp;<b>Financial Statements and Exhibits</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Item</i></b>&nbsp;<b><i>9.01</i></b>&nbsp;<b><i>Financial Statements and Exhibits</i></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(d) Exhibits.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Exhibit</b>&nbsp;<b>No.</b></p>
			</td>
			<td style="vertical-align: bottom; width: 2%;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 83%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Description</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">99.1</p>
			</td>
			<td style="vertical-align: bottom; width: 2%;">&nbsp;</td>
			<td style="vertical-align: top; width: 83%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_245110.htm" style="-sec-extract:exhibit;">Press Release, dated April 29, 2021</a></p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SIGNATURES</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="vertical-align:top;width:60%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date:&nbsp;&nbsp;April 29, 2021</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:40%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>PATRIOT NATIONAL BANCORP, INC.</b>&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:60%;">&nbsp;</td>
			<td style="vertical-align:top;width:6.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:33.3%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align:top;width:60%;">&nbsp;</td>
			<td style="vertical-align:top;width:6.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
			</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:top;width:33.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">/s/ Robert G. Russell, Jr.</p>
			</td>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Robert G. Russell, Jr.</p>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Exhibit 99.1</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Patriot Bank announces key additions to executive leadership in credit, lending and information technology.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">STAMFORD, Conn., April 29, 2021 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (&#8220;Patriot&#8221;) (NASDAQ:<u>PNBK</u>), the parent company of Patriot Bank, N.A. (the &#8220;Bank&#8221;), today announced it has two executive hires and a promotion. Karen Rojeski has joined Patriot as its Executive Vice President and Chief Credit Officer. Steven Grunblatt has been promoted to Executive Vice President and Chief Information Officer. David Lowery has been hired as Head of Lending.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ms. Rojeski most recently served as Executive Vice President &#8211; Chief Credit Officer at Metropolitan Commercial Bank and previously held the position of Senior Vice President &#8211; Special Assets Department Manager at Union Savings Bank. Ms. Rojeski brings a rich and diverse experience in community bank credit and lending. Ms. Rojeski holds an undergraduate degree from San Francisco State University and a Master of Science from Fairfield University. Ms. Rojeski commented, &#8220;I&#8217;m very pleased to be joining Patriot, and to be working with such talented credit and lending professionals&#8221;.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Mr. Grunblatt joined Patriot Bank in 2014 as SVP, Director of Technology. He brings with him over twenty-five years of experience in various facets of information technology, including management and oversight of all aspects of vendor management, infrastructure and technology implementation. Mr. Grunblatt graduated from the Wharton School of Business in Pennsylvania with a bachelor&#8217;s degree in Economics. &#8220;My career with the Bank continues to provide new challenges and opportunities. I&#8217;m excited to be joining the executive management team that I&#8217;ve worked so closely with for the last seven years&#8221;, stated Mr. Grunblatt.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Mr. Lowery is an experienced lending executive and will serve as Patriot Bank&#8217;s Head of Lending. He will be responsible for originations, pool purchases and directing the lending function. Mr. Lowery has served in various senior capacities with several institutions including Iberia Bank, Metropolitan and M&amp;T Bank. He has built highly successful lending businesses in the New York metropolitan area. Mr. Lowery commented, &#8220;I am very much looking forward to building Patriot&#8217;s commercial and consumer lending, while supporting the communities in which we do business&#8221;. Mr. Lowery holds an MBA from Loyola University in Maryland in addition to his Undergrad in Economics from Loyola.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&#8220;I&#8217;m pleased and excited to be able to expand the Bank&#8217;s leadership team by adding such talented individuals with deep industry experience. I look forward to the efforts each of them will bring to Patriot&#8217;s success&#8221;, commented President and CEO Robert Russell. &#8220;These individuals have extensive records of performance and will be a substantial resource for Patriot and its customers.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>About the Company</u></b>&nbsp;&nbsp;</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Founded in 1994, Patriot National Bancorp, Inc. (&#8220;Patriot&#8221; or &#8220;Bancorp&#8221;) is the parent holding company of Patriot Bank N.A. (&#8220;Patriot&#8221;), a nationally chartered bank&nbsp;headquartered in Stamford, CT.&nbsp; Patriot operates with&nbsp;full-service branches in Connecticut and New York and</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">provides lending products and services nationally. Patriot&#8217;s mission is to serve&nbsp;its&nbsp;local community and nationwide customer base by providing a growing array of banking solutions to meet the needs of individuals and small&nbsp;businesses owners. Patriot places great value in the integrity of its people and how it conducts business.&nbsp; An emphasis on building strong client relationships and community involvement are cornerstones of our philosophy as we seek to maximize shareholder value.</p>

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			<td style="width: 33%;"><b>Contact:</b></td>
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			<td style="width: 33%;">&nbsp;</td>
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			<td>Patriot Bank, N.A.</td>
			<td>Frederick K. Staudmyer</td>
			<td>Robert G. Russell, Jr.</td>
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			<td>900 Bedford Street</td>
			<td>EVP &amp; Chief Administrative Officer&nbsp;</td>
			<td>President &amp; Chief Executive Officer</td>
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			<td>Stamford, CT 06901</td>
			<td>203-252-5921&nbsp;</td>
			<td>203-252-5939</td>
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			<td>www.BankPatriot.com</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
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