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Patriot credited the results in part to its chairman, Michael Carrazza, who took over as CEO in August.
The repurchase program will be in place until the earlier of July 31, 2017 or until 500,000 of its outstanding shares of common stock have been repurchased.
Total assets and net loans were both up.
Loans decreased $14 million from the first quarter of 2015, but the company said deposits have increased by over $10 million since the end of March
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