STAMFORD, Conn., July 29, 2016 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc.  (NASDAQ:PNBK) announced today that its board of directors has authorized a new stock repurchase program for the purpose of repurchasing up to 500,000 shares of its common stock.

“This program reflects our commitment to enhance shareholder value and our confidence in the ongoing operating and strategic direction of the Company," said Michael Carrazza, Patriot’s Chairman. Mr. Carrazza reaffirmed that the Company is focused on executing a series of activities aimed at creating value for its shareholders.

About the Company

Patriot National Bancorp, Inc. is headquartered in Stamford, Connecticut and the Bank has 10 full service branches, eight in Connecticut and two in New York.

Since opening its doors in 1994, the Company’s mission has been to serve our local communities by helping our neighbors and neighborhood businesses thrive. All lending is handled locally and is specific to each borrower, and the commitment to local businesses goes further to connect, support and grow businesses in both the for-profit and nonprofit sectors, along with municipalities. Patriot believes a well-connected community is a strong community—and that together, all will prosper.