Patriot National Bancorp Inc

Patriot Bank announced that its Formal Agreement with the Office of the Comptroller of the Currency, dated January 14, 2025, has been terminated effective June 30, 2026. The OCC stated in its order that the safety and soundness of the bank and its compliance with laws and regulations no longer require the agreement. President and CEO Steven Sugarman called the termination a milestone that will bring immediate benefits to shareholders through reduced regulatory costs and fees. Patriot Bank, a wholly owned subsidiary of Patriot National Bancorp, has $1.3 billion in total assets and is headquartered in Stamford, Connecticut.

Patriot Bank has opened its flagship California location in Beverly Hills, launching with more than $100 million in deposits from high-net-worth families, entrepreneurs, and business leaders throughout Southern California. The new office at 9647 Brighton Way also houses the bank's flagship Founders Club lounge, an exclusive membership program for its most valued depository clients. Jeff Seabold and Richard Smith are leading Patriot's expansion in Beverly Hills and the broader Southern California market, while Rebecca Shah heads the high-net-worth banking center and Dana Caprio manages the Founders Club lounge. President and CEO Steven Sugarman said the early success in gathering deposits confirms the strength of the market opportunity and Patriot Bank's position as a premier private banking alternative.

Patriot Bank announced its expansion into the South Florida market with a new flagship location in Palm Beach expected to open by year end. Jamie Bruneau, Executive Vice President and Florida Market President, will lead the office, bringing over 23 years of ultra-high-net-worth banking experience from Safra National Bank and First Republic Bank. He is joined by James Ford, Vice President and Senior Relationship Manager, who previously served as a Managing Director at First Republic Bank. The Palm Beach office will serve family offices, business owners, entrepreneurs, and their advisors with personalized banking and tailored lending solutions. Patriot Bank, a subsidiary of Patriot National Bancorp with $1.2 billion in total assets, operates branches in Connecticut and New York and aims to serve high-net-worth clients in markets including New York, Greenwich, Beverly Hills, and now Palm Beach.