On May 13, 2025, Patriot National Bancorp Inc. reported that two noteholders converted $1,896,956.92 of Senior Notes into 2,529,275 shares of Common Stock. Additionally, William Paul Simmons was appointed Executive Vice President and Chief Credit Officer, with an annual salary starting at $400,000 and an equity award of 1,000,000 shares, while Angie Miranda was hired with a salary of $350,000 and an equity award of 450,000 shares.