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 National Bancorp IncFormal agreement with OCC terminated, reducing regulatory costs and fees.