UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
Form 8-K
______________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): May 16, 2016
PATRIOT NATIONAL BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
Connecticut | 000-29599 | 06-1559137 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
900 Bedford Street, Stamford, Connecticut 06901 |
(Address of Principal Executive Offices) (Zip Code) |
(203) 324-7500
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On May 16, 2016, Patriot National Bancorp, Inc. (“Patriot” or the “Company”) issued a press release announcing core business and financial accomplishments the Company has achieved during the first quarter ended March 31, 2016.
A copy of the press release is furnished herewith as Exhibit 99.1. The information in this Form 8-K shall not be deemed to be "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99.1 | Patriot National Bancorp, Inc., Press Release, issued on May 16, 2016. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PATRIOT NATIONAL BANCORP, INC. | ||
Date: May 16, 2016 | By: | /s/ Neil McDonnell |
Name: Neil McDonnell | ||
Title: Executive Vice President & Chief Financial Officer | ||
EXHIBIT 99.1
Patriot National Bancorp Files March 2016 10-Q
STAMFORD, Conn., May 16, 2016 (GLOBE NEWSWIRE) -- Fairfield County-based Patriot National Bancorp, Inc. (“Bancorp” or the “Company”) (NASDAQ:PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today reported that it filed its Form 10-Q as of March 31, 2016, with the U.S. Securities and Exchange Commission, following a review by the Bank’s independent auditors. Key highlights include net income of $653,000 for the first quarter, or $0.17 basic income and $0.16 diluted income per share. This is compared to $289,000 a year ago, or $0.07 basic and diluted income per share. In the fourth quarter of 2015, the Company reported $532,000 net income, or $0.14 basic and diluted income per share. This is a 126% increase in earnings over the same period last year and a 23% increase over the prior quarter.
As of March 31, 2016, total assets have decreased slightly to $636 million, compared to $654 million at December 31, 2015 and $647 million at March 31, 2015.
About Patriot National Bancorp, Inc.
Patriot National Bancorp, Inc. operates as the holding company for Patriot Bank, N.A. which provides consumer and commercial banking services to individuals, small and medium-sized businesses and professionals. The Company's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York. Patriot Bank, N.A. currently operates 10 full service branches, 8 in Connecticut and 2 in New York. Both Patriot Bank, N.A. and Patriot National Bancorp, Inc. are headquartered in Stamford, Connecticut. Patriot Bank, N.A. was founded in 1994.
Investor Relations Contacts:
Patriot Bank, N.A.
Kenneth T. Neilson, President & CEO, 203-252-5962
Neil M. McDonnell, Executive Vice President & CFO, 203-252-5938
Media Contacts:
Butler Associates, LLC Public Relations
Tom Butler 646-213-1802 / TButler@ButlerAssociates.com
Kaylyn Alexander 646-213-1366 / KAlexander@ButlerAssociates.com