Form 8-K PATRIOT NATIONAL BANCORP For: Sept. 22
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Patriot raises David Lowery to the leadership team as executive vice president and chief loan officer
STAMFORD, Connecticut, September 27, 2021 (GLOBE NEWSWIRE) – Patriot National Bancorp, Inc. (âPatriotâ, âBancorpâ or the âCompanyâ) (NASDAQ: PNBK), the parent company of Patriot Bank, NA (the â Bank â), today announced that David Lowery has been promoted to Executive Vice President and Chief Loan Officer.
Mr. Lowery joined Patriot Bank in April 2021 as a Loans Officer. Overall, David leads the SBA division of the Bank, the areas of Commercial Real Estate, C&I and Consumer Lending. Prior to joining Patriot, Mr. Lowery held various executive positions with several institutions, including Iberiabank, Metropolitan Commercial Bank and M&T Bank. He has built some very successful loan businesses in the New York metro area. Mr. Lowery commented, âI am very excited to be a part of Patriot Bank and add value through loans while strengthening existing relationships and creating new ones. Mr. Lowery received his MBA from Loyola University in Maryland, where he also received his undergraduate degree in economics.
“David has shown strong leadership, focusing the Bank’s lending division on growth while improving credit quality and portfolio management and I am delighted to add him to our leadership team,” commented President and CEO Robert Russell.
About the company:
Patriot Bank is headquartered in Stamford and operates 9 branches: in Scarsdale, NY; and Darien, Fairfield, Greenwich, Milford, Norwalk, Orange, Stamford, Westport, CT with Express Banking branches at Bridgeport / Housatonic Community College, downtown New Haven and Trumbull at Westfield Mall. The Bank also has SBA loan offices in Stamford, Connecticut, Florida, Georgia, Ohio, as well as an operations center in Rhode Island.
Founded in 1994 and now celebrating its 27th birthday, Patriot National Bancorp, Inc. (“Patriot” or “Bancorp”) is the parent company of Patriot Bank NA (“Bank”), a nationally chartered bank headquartered in Stamford , CT. Patriot operates with full-service branches in Connecticut and New York City and provides loan products and services nationwide. Patriot’s mission is to serve its local community and clientele nationwide by providing a growing range of banking solutions to meet the needs of individuals and small business owners. Patriot values ââthe integrity of its people and the way it conducts its business. A focus on building strong customer relationships and community engagement are cornerstones of our philosophy as we seek to maximize shareholder value.
Safe Harbor Declaration under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in Bancorp’s public statements, including this one, may be forward-looking and subject to various risks and uncertainties. These factors include, but are not limited to: (1) changes in prevailing interest rates that would affect interest earned on the Company’s interest-bearing assets and interest paid on its interest-bearing liabilities; (2) the timing of the revaluation of the interest-bearing assets and interest-bearing liabilities of the Company; (3) the effect of changes in government monetary policy; (4) the effect of changes in the regulations applicable to the Company and the Bank and the conduct of its business; (5) changes in competition among financial services companies, including possible further encroachment by non-banks on services traditionally provided by banks; (6) the ability of competitors larger than the Company to provide products and services which are impossible for the Company to provide; (7) the state of the economy and real estate values ââin the Company’s market areas, and the resulting effect on the quality of the Company’s loans; (8) demand for loans and deposits in our market area; (9) recent government initiatives which are expected to have a profound effect on the financial services industry and could radically change the competitive environment of the Company; (10) other legislative or regulatory changes, including those related to residential mortgages, changes in accounting standards and Federal Deposit Insurance Corporation (âFDICâ) premiums that could adversely affect the Company; (11) the application of generally accepted accounting principles, applied consistently; (12) that a period of reported results may not be indicative of future periods; (13) the state of the economy in the greater New York metropolitan area and its particular effect on the Company’s customers, suppliers and communities and other factors, including risk factors, such as they may be described in other documents filed by the Company with the Securities and Exchange Commission (the âSECâ); (14) political, social, legal and economic instability, civil unrest, war, catastrophic events, acts of terrorism; (15) widespread outbreaks of infectious diseases, including the current outbreak of novel coronavirus (COVID-19); (16) changes in the level and direction of delinquencies and loan write-offs and changes in estimates of the adequacy of the allowance for loan losses; (17) our ability to access profitable financing; (18) our ability to implement and modify our business strategies; (19) changes in the quality or composition of our loan or investment portfolios; (20) technological changes which may be more difficult or costly than expected; (21) our ability to manage market risk, credit risk and operational risk in the current economic environment; (22) our ability to successfully enter new markets and take advantage of growth opportunities; (23) changes in consumption, borrowing and saving habits; (24) our ability to retain key employees; and (25) our compensation expense associated with shares awarded or awarded to our employees.
|Patriot Bank, NA||Robert russell|
|900 Bedford Street||President and CEO|
|Stamford, CT 06901||203-252-5939|