Patriot National Bancorp set for breather after 74% rally on Thursday

Patriot National Bancorp

21/04/2025 14:32

** Community lender Patriot National Bancorp's PNBK.O shares slide 17.8% to $2.70

** Stock closed up 73.5% to $3.28 on Thursday

    ** Stamford, Connecticut-based bank last month raised over
$50 million in a private placement

** PNBK has 73.7 million outstanding shares for $241.8 million market cap - data compiled by LSEG

** Net loss widened to $39.9 million in 2024, compared with $4.2 million a year earlier, per annual report

** PNBK, which has about $1 billion in assets, was earlier this year designated by the Office of the Comptroller of the Currency as being in "troubled condition"

** As of last close, PNBK stock up 69.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))