Tuesday, December 6, 2022
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Patriot and American Challenger terminate merger agreement

Patriot would have acquired American Challenger for approximately $119 million.

Patriot Bank, American Challenger merging to create nation’s largest digital bank

Patriot Bank Chairman Michael Carrazza, who will remain as vice chairman of the new entity, called the deal an “industry-disrupting merger."

Robert Russell Jr. named president/CEO at Patriot Bank

In June Patriot reported that its total assets, as of the first quarter, increased 2% to $999.6 million; its net loan portfolio increased to $808 million; deposits grew 4.4%, or $33.7 million, to $803.2 million; and net interest income was up 1.9%.

Patriot completes $10M subordinated debt offering

The Stamford bank also announced its entry into the 2018 Russell Microcap Index, which was reconstituted last month.

Patriot Bank completes Prime Bank acquisition

Stamford-based Patriot said it remains on track to surpass its $1 billion milestone in total assets in the second half of this year.

Patriot Bank acquires Hana SBL’s $490 million SBA portfolio

"This will allow us to go from zero to 100" in the SBA space, said Patriot President Richard Muskus Jr.

Patriot National Bancorp posts strongest earnings in its history

Patriot President Richard Muskus Jr. said the bank’s primary areas of focus moving forward would be adding to its product lines and enhancing its service offerings.

Patriot Bank hits $1 million net income milestone

“While pleased in reaching these milestones, content we are not," said CEO Michael Carrazza.

Patriot Bank shows strong year-over-year growth

Second-quarter net income was $804,000, compared with a $582,000 loss in the year-ago quarter.

Patriot Bank acquiring Prime Bank

Prime shareholders will receive aggregate cash consideration equal to 115 percent of Prime’s tangible book value as of the closing date.

Patriot Bank announces first quarterly cash dividend since 2008

The move comes in the wake of significant financial growth over the past year-plus.

Patriot Bank picks Perillo as CFO

Before joining the Stamford bank, Joseph D. Perillo was chief accounting officer and CFO for iQor Inc., a $1.5 billion global leader in business process outsourcing.

Patriot Bank posts 165 percent net income increase

First-quarter earnings also increased by 66 percent.

Patriot Bank recovers nearly $2.8 million on Seaboard Realty loan

The payment stems from a $3 million bridge loan for the construction of a Marriott Residence Inn on Atlantic Street in Stamford.

Patriot Bank posts 2nd consecutive earnings increase

The Stamford-based bank's net income nearly doubled from the fourth quarter of 2015.