Patriot National Bancorp Changes Auditor, Elects Director
Ticker: PNBK · Form: 8-K · Filed: Aug 26, 2025 · CIK: 1098146
| Field | Detail |
|---|---|
| Company | Patriot National Bancorp Inc (PNBK) |
| Form Type | 8-K |
| Filed Date | Aug 26, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $50,000, $75,000, $20,000, $25,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, corporate-governance, officer-compensation
Related Tickers: PNBK
TL;DR
PNBK swapped auditors, brought in a new director, and tweaked exec pay.
AI Summary
Patriot National Bancorp, Inc. announced on August 20, 2025, a change in its certifying accountant, with CohnReznick LLP replacing Marcum LLP. The company also reported on the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers.
Why It Matters
A change in auditor can signal potential issues or a strategic shift for a company, while director changes and executive compensation adjustments directly impact corporate governance and leadership.
Risk Assessment
Risk Level: medium — Changes in auditors and executive compensation can sometimes precede or indicate underlying financial or operational challenges.
Key Players & Entities
- PATRIOT NATIONAL BANCORP, INC. (company) — Registrant
- CohnReznick LLP (company) — New Certifying Accountant
- Marcum LLP (company) — Former Certifying Accountant
- August 20, 2025 (date) — Date of earliest event reported
- August 26, 2025 (date) — Filing Date
FAQ
Who is Patriot National Bancorp's new certifying accountant?
Patriot National Bancorp, Inc. has appointed CohnReznick LLP as its new certifying accountant.
Who was Patriot National Bancorp's previous certifying accountant?
The previous certifying accountant for Patriot National Bancorp, Inc. was Marcum LLP.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this filing occurred on August 20, 2025.
What are the main items reported in this 8-K filing?
This filing reports on changes in the registrant's certifying accountant, departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers.
In which state is Patriot National Bancorp, Inc. incorporated?
Patriot National Bancorp, Inc. is incorporated in Connecticut.
Filing Stats: 1,388 words · 6 min read · ~5 pages · Grade level 13.8 · Accepted 2025-08-26 17:17:12
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share PNBK NASDAQ Global Market I
- $50,000 — be awarded annual cash compensation of $50,000, and an annual grant of restricted stoc
- $75,000 — stock units with a grant date value of $75,000, provided the initial grant date shall
- $20,000 — be awarded annual cash compensation of $20,000, and an annual grant of restricted stoc
- $25,000 — stock units with a grant date value of $25,000, provided the initial grant date shall
Filing Documents
- pnbk-20250820.htm (8-K) — 40KB
- rsmletter.htm (EX-16.1) — 1KB
- rsmletter001.jpg (GRAPHIC) — 61KB
- 0001628280-25-041173.txt ( ) — 243KB
- pnbk-20250820.xsd (EX-101.SCH) — 2KB
- pnbk-20250820_lab.xml (EX-101.LAB) — 22KB
- pnbk-20250820_pre.xml (EX-101.PRE) — 13KB
- pnbk-20250820_htm.xml (XML) — 3KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Independent Registered Public Accounting Firm The Audit Committee (the "Committee") of the Board of Directors of Patriot National Bancorp, Inc. (the "Company") recently conducted a selection process for the Company's independent public accounting firm for the year ending December 31, 2025. As a result of this process, on August 22, 2025, the Company engaged Baker Tilly US, LLP ("Baker Tilly") to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025. The engagement of Baker Tilly was approved by the Committee. As a result, the Company ended RSM US LLP's ("RSM") engagement as the Company's independent registered public accounting firm on August 22, 2025. The decision to dismiss RSM was also approved by the Committee. The reports of RSM on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2024 and 2023 did not contain any adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principle. During the fiscal years ended December 31, 2024 and 2023, and the subsequent interim periods of the Company through August 22, 2025, there have been no (i) "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K and the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC")) with RSM on any matter of accounting principles or practices, financial statement disclosure or reviewing scope or procedure, or (ii) "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K). The Company has authorized RSM to respond fully to any inquiries of the Company's new independent registered public accounting firm, Baker Tilly, relating to its engagement as the Company's independent registered public accounting firm. The Company provided RSM with a copy of the disclosures it is making in this Current Re
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. 16.1 Letter of RSM US LLP to the Securities and Exchange Commission dated August 26, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PATRIOT NATIONAL BANCORP, INC. August 26, 2025 By: /s/ Carlos P. Salas Name: Carlos P. Salas Title: Chief Financial Officer