PATRIOT NATIONAL BANCORP INC

Patriot Bank, N.A., a subsidiary of Patriot National Bancorp, Inc., announced its strategic expansion into the South Florida market with a new flagship location in Palm Beach. The office, expected to open by year-end, will target high-net-worth clients, family offices, and business owners. Jamie Bruneau has been appointed Executive Vice President and Florida Market President, and James Ford joins as Vice President, Senior Relationship Manager, bringing extensive experience in the region.

Patriot Bank, a subsidiary of Patriot National Bancorp, announced significant investments to expand its presence in Greenwich and Fairfield County, Connecticut. The bank appointed DeWitt Hutchins as Senior Vice President and Market President of its High Net Worth Banking Division, alongside Sophia Salinas and Robert Black, to lead growth in this segment. Additionally, Patriot Bank plans to upgrade its Mason Street branch in Greenwich, with renovations expected to conclude in the first quarter of 2027.

Patriot National Bancorp reported a net loss of $(1.76) million, or $(0.02) per basic share, for the first quarter of 2026, significantly reducing its loss compared to $(2.78) million, or $(0.21) per basic share, in the prior year. The company saw a substantial 79.0% increase in net interest income to $7.08 million and a 19.0% rise in non-interest income. Total assets grew 8.2% to $1.18 billion, with loans receivable, net, increasing 28.3% to $751.21 million, and total deposits rising 8.6% to $1.05 billion. The company also adopted ASU 2025-08, recording an initial allowance for credit losses of $925 thousand for purchased loans, and continued its new lending programs re-started in Q3 2025.

Patriot National Bancorp, Inc. announced that it posted a presentation containing certain Q1 2026 financial information for its wholly owned subsidiary, Patriot Bank, National Association. The presentation was made available on the company's Investor Relations website on May 5, 2026. This information is furnished as Exhibit 99.1 to the Current Report on Form 8-K.

Patriot National Bancorp, Inc. (PNBK) entered into an Addendum to the Employment Agreement with Executive Carlos P. Salas, effective April 26, 2026. The addendum amends sections 5 and 7 of the original agreement, primarily detailing the Company's obligations upon various termination scenarios, including severance payments, equity vesting, and continued benefits. It also incorporates provisions related to Section 280G of the Internal Revenue Code to manage potential golden parachute excise taxes.

Patriot National Bancorp, Inc. will hold its 2026 Annual Meeting of Shareholders on May 20, 2026. Shareholders will vote on the election of seven directors, the authorization for a reverse stock split of common stock at a ratio between 1-for-10 and 1-for-20, and the ratification of Baker Tilly US, LLP as the independent auditor for 2026. The Board will determine the specific ratio and timing of the reverse stock split.

Patriot National Bancorp, Inc. (PNBK) announced the departure of two key personnel. Frederick Staudmyer separated from his roles as Executive Vice President and Chief Administrative Officer of Patriot Bank, N.A., and Chief Human Resources Officer and Secretary of the Company, effective April 3, 2026, after nearly twelve years of service. Concurrently, Ida Liu resigned from the Company's board of directors on April 2, 2026, citing new employment. The company stated that neither departure was due to any disagreements with management or the Board, and Mr. Staudmyer will provide consulting services during a transition period.