Patriot National Bancorp Inc., the parent of Patriot National Bank, announced the appointment of Kenneth T. Neilson as President and Chief Executive Officer of both the company and the bank effective March 18, 2013, pending regulatory approval. This is following the departure of Christopher Maher, who is resigning as President, CEO and director for personal reasons. Neilson has served as a director of Patriot since 2010. He is the retired President, Chairman and CEO of Hudson United Bank and Hudson United Bancorp where he served for 23 years. After becoming President and CEO in 1989.

Patriot National Bancorp Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2012. The company reported it earned $909,000, or $0.02 basic and diluted income per share, for the nine months ended September 30, 2012 compared to a net loss of $15.9 million, or $0.41 basic and diluted loss per share, for the nine months ended September 30, 2011. Net interest income was $13,775,000 against $14,924,000 a year ago. The decline compared to the first nine months of the prior year was due to the overall lower rate environment and the change in the balance sheet mix. Income before income taxes was $909,000 against loss of $15,903,000 a year ago. Book value per share was $1.33 against $1.32 a year ago. Tangible book value per share was $1.33 against $1.32 a year ago. For the quarter ended September 30, 2012, the company earned $18,000 compared to $255,000 for the third quarter a year ago. Basic and diluted earnings per share were $0.00 against $0.01 a year ago. Net interest income was $4,232,000 against $4,946,000 a year ago. Interest income decreased 13.4% compared to the third quarter a year ago as a result of the lower interest rate environments impact on loans that re-priced, loan payoffs, and the overall loan mix. Income before income taxes was $18,000 against $255,000 a year ago. The company is on track to surpass targeted levels of asset quality improvement by year-end and will continue to implement core earnings profitability strategies in the fourth quarter of 2012.

Patriot National Bancorp Inc., Annual General Meeting, Dec 18, 2012., at 10:30 US Eastern Standard Time. Location: Robinson & Cole LLP, 1055 Washington Boulevard. Agenda: To elect seven directors to serve until Annual Meeting of Shareholders to be held in 2013 and until their successors are elected; to ratify the appointment of KPMG LLP to serve as the independent registered public accounting firm for Patriot National Bancorp, Inc. for the 2012 fiscal year; and to transact any other business which may properly come before the meeting.