Patriot National Bancorp, Inc. announced a private placement of 8.50% Fixed Rate Senior Notes due 2026 for gross proceeds of $12 million on December 21, 2022. The notes bear interest at 8.50% per annum, beginning July 15, 2023. The notes will mature on January 15, 2026.

The company received the funds pursuant to securities issued under exemption from Regulation D.