Patriot National Bancorp set for breather after 74% rally on Thursday

Community lender Patriot National Bancorp's PNBK.O shares slide 17.8% to $2.70

Stock closed up 73.5% to $3.28 on Thursday

Stamford, Connecticut-based bank last month raised over $50 million in a private placement

PNBK has 73.7 million outstanding shares for $241.8 million market cap - data compiled by LSEG

Net loss widened to $39.9 million in 2024, compared with $4.2 million a year earlier, per annual report

PNBK, which has about $1 billion in assets, was earlier this year designated by the Office of the Comptroller of the Currency as being in "troubled condition"

As of last close, PNBK stock up 69.1% YTD