secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2026-09-23T13:15:38+00:00
Accession:  0001437749-26-031012
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot National Bancorp issues $10.0M 8.5% subordinated notes due 2036
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- Issued $10.0M aggregate principal of 8.5% Fixed-to-Floating Rate Subordinated Notes due Sept 30, 2036.
- Fixed 8.5% to Sept 2031, then resets to 3-month SOFR + 416 bps, paid quarterly.
- Notes intended to qualify as Tier 2 capital; proceeds for general corporate purposes and bank investment.
- Redeemable on/after Sept 30, 2031; subordinated to senior debt, not convertible; no sinking fund.
- Placement agent: Performance Trust Capital Partners; UMB Bank as paying agent and settlement agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000143774926031012/0001437749-26-031012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000143774926031012/pnbk20260923_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-031012

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