Patriot Bank Obtains Preliminary Investment Grade Rating

STAMFORD, Conn., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Kroll Bond Ratings Agency (“KBRA”) assigned a preliminary deposit and issuer rating of BBB, and preferred stock rating of BBB- to the digital-first national bank being created by the proposed merger of American Challenger Development Corp. (“American Challenger”) with Patriot National Bancorp, Inc. (“Patriot”) (NASDAQ: PNBK), the holding company of Patriot Bank, N.A., a national bank headquartered in Stamford, Connecticut.