Patriot National Bancorp

Patriot Bank, N.A. (PNBK) is the bank holding company for Stamford, Connecticut-based Patriot Bank NA, and is traded on NASDAQ as PNBK.[6]

The bank provides retail and commercial banking services and operates seven locations in Fairfield County, Connecticut, one in New Haven County, Connecticut, and one in Westchester County, New York.[7]

History

On August 31, 1994, Patriot National Bank obtained its charter and opened for business as a community bank. In 1999, Patriot National Bancorp, Incorporated was organized as a Bank Holding Company headquartered in Stamford, Connecticut. The Patriot National Statutory Trust I was founded on March 11, 2003, to issue trust preferred securities and invest the proceeds in subordinated debentures issued by the company.[8]

In 2006, Patriot National Bank purchased a branch office and opened two new branch offices in New York, expanding its geographical footprint into New York State.[9] In August 2017, Patriot announced the signing of a definitive merger agreement pursuant to acquire Prime Bank of Orange, CT, expanding its community banking presence in Connecticut.[10][11]

In September 2015, the bank announced the bank announced its new name “Patriot Bank”.[12] In July 2017, Patriot announced the resumption of quarterly dividends for shareholders in July 2017, for the first time since 2008.[13]