secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2025-01-21T23:59:59+00:00
Accession:  0001437749-25-001434
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot National Bancorp enters OCC agreement over unsafe practices; bank now in 'troubled condition'
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- OCC found unsafe/unsound practices and BSA/AML, credit, and strategic planning violations; Bank must take corrective actions.
- By Feb 28, 2025, Bank must achieve minimum capital: CET1 10%, Tier1 10%, Total 11.5%, Leverage 9%.
- OCC designated Bank as 'troubled condition'; prior individual minimum capital ratios terminated Jan 17, 2025.
- David Finn appointed permanent CFO (effective Jan 14, 2025); previously interim CFO since Oct 2024; no compensation change.
- Multiple plans (strategic, capital, BSA/AML, risk management) must be submitted to OCC within 30-90 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000143774925001434/0001437749-25-001434-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000143774925001434/pnbk20250117_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-001434

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