On August 20, 2025, Patriot National Bancorp Inc. announced several management changes, including the appointment of Steven Sugarman as Chairman of the Board and Anahit Magzanyan as Lead Independent Director, effective October 1, 2025. The Board also approved new compensation for directors, with independent directors receiving annual cash of $50,000 plus stock units valued at $75,000 from July 1, 2025.