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“No bank has ever had the kind of bad metrics we did, and survived on its own,” said bank chairman and CEO Michael Carrazza.
Patriot credited the results in part to its chairman, Michael Carrazza, who took over as CEO in August.
Total assets and net loans were both up.
Despite the departure of its chief executive last week, Patriot National Bancorp Inc. has emerged from the brink and is now focused on growing profitability and rebuilding its loan portfolio, said Chairman Michael Carrazza.