Patriot National Bancorp appoints Steven Sugarman as President and director to lead strategic restructuring

PATRIOT NATIONAL BANCORP INC

Steven Sugarman appointed President and board member effective December 30, 2024.
Annual base salary of $120,000 until successful capital raise; discretionary bonus after offering.
Company exploring capital raise, strategic partnerships, sale, or M&A to maximize shareholder value.
Sugarman founded Banc of California, Inc. and has experience in regulatory compliance and capital markets.
Appointment aims to address capital, operational, and regulatory deficiencies identified by regulators.

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