PATRIOT NATIONAL BANCORP, INC. (NASDAQ:PNBK) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Item 2.03 below, which is also incorporated by reference in this
Item 1.01.

Section 2 Financial Information

Item 2.03 Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated
herein by reference in this Item 2.03.

The Notes were issued to a Purchase Agreement, dated as of
December 22, 2016, between the Company and accredited
institutional investors. The Notes bear a fixed interest rate of
7.00% per annum from and including December 22, 2016 to but
excluding December 22, 2021 and are payable semi-annually in
arrears on June 22 and December 22 of each year, beginning June
22, 2017. The Notes are not subject to redemption at the option
of the Company. Principal and interest on the Notes are subject
to acceleration only in limited circumstances.

The foregoing description is not intended to be complete and is
qualified in its entirety by reference to the full text of the
Purchase Agreement and the Notes, the forms of which are filed as
Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K
and are incorporated herein by reference.

10.1Form of Purchase Agreement, dated December 22, 2016

10.2Form of 7% Senior Note Due 2021

About PATRIOT NATIONAL BANCORP, INC. (NASDAQ:PNBK)

Patriot National Bancorp, Inc. is a one-bank holding company for Patriot Bank, N.A. (the Bank), a national banking association. The Bank offers consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal (NOW) account, money market, time certificates of deposit, savings, Certificate of Deposit Account Registry Service (CDARS), individual retirement accounts (IRAs) and health savings accounts (HSAs). The Bank’s other services include automated clearing house (ACH) transfers, lockbox, Internet banking, bill paying, remote deposit capture, debit cards, money orders, traveler’s checks and automated teller machines (ATMs). The Bank offers commercial real estate loans, commercial business loans and various consumer loans to individuals, small and medium-sized businesses, and professionals. Its commercial and industrial loan portfolio consists of commercial business loans and lines of credit to businesses and professionals.

PATRIOT NATIONAL BANCORP, INC. (NASDAQ:PNBK) Recent Trading Information

PATRIOT NATIONAL BANCORP, INC. (NASDAQ:PNBK) closed its last trading session up +0.12 at 14.37 with 780 shares trading hands.