Patriot National Bancorp is the holding company for Patriot Bank, a small community bank headquartered in Stamford, Connecticut. The Bank operates eight branches across Fairfield County, Connecticut and one location in Scarsdale, New York. Patriot Bank earns revenue the way most community banks do: taking in deposits and lending them out, earning the spread between deposit costs and loan yields. Beyond net interest income, the Bank earns fee income from treasury management, card sponsorship, ACH and money movement services, and settlement functions for fintech clients. The Bank is repositioning around three target segments: entrepreneurs and high-net-worth individuals served through relationship banking; digital payments and fintech clients that need a bank partner for deposits, card programs, and settlement services; and underbanked but creditworthy individuals and businesses in its local markets. The Bank is actively winding down its broader legacy retail and commercial banking relationships from prior management. Patriot Bank is in the middle of a significant turnaround — in January 2025, the OCC entered into a Formal Agreement with the Bank requiring corrective action across capital, governance, risk management, and operations. In response, the Bank raised new capital, restructured debt, replaced most of its senior management and board, exited non-core lending activities, and invested in compliance and risk infrastructure.