Patriot National Bancorp announced on January 3, 2025, the hiring of Steven Sugarman as its new President. Mr. Sugarman's appointment is intended to lead the company's restructuring efforts.
His role will specifically focus on cultivating investors and bolstering the company's capital levels. This move signals a strategic initiative to address the bank's financial health.
Mr. Sugarman previously served as the Founder, Chairman, President, and Chief Executive Officer of Banc of California, Inc., bringing extensive experience to Patriot National Bancorp.
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