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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 finalizes acquisition of Prime Bank

The transaction is expected to result in Patriot reaching total assets of $1 billion, organically, in the second half of this year.

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.