About Patriot National Bancorp

Patriot National Bancorp, Inc. operates as the bank holding company for Patriot Bank, N.A. (the bank) that provides a full range of banking services to commercial and consumer customers. The company operates through its main office in Stamford, Connecticut, eight branch offices in Connecticut and one branch office in New York. The bank has branch offices located in Fairfield and New Haven counties, Connecticut, and Westchester County, New York. The bank is a nationally chartered commercial bank whose deposits are insured under the Bank Insurance Fund, which is administered by the Federal Deposit Insurance Corporation. Business Operations The bank offers commercial real estate loans, commercial business loans, SBA loans originated under the U.S. Small Business Administration (SBA) 7(a) program, and a variety of consumer loans with an emphasis on serving the needs of individuals, small and medium-sized businesses and professionals. The bank’s lending activities are conducted principally in Fairfield and New Haven counties in Connecticut and Westchester County in New York. Consumer and commercial deposit accounts offered include checking, interest-bearing negotiable order of withdrawal (NOW), money market, time certificates of deposit, savings, prepaid deposit accounts, on-line national money market accounts, Certificate of Deposit Account Registry Service (CDARS), Individual Retirement Accounts (IRAs), and Health Savings Accounts (HSAs). Other services offered by the bank include Automated Clearing House (ACH) transfers, lockbox, internet banking, bill paying, remote deposit capture, debit cards, money orders, traveler’s checks, and automatic teller machines (ATMs). In addition, the bank may in the future offer other financial services. The Stamford, Connecticut location serves as the company’s headquarters. Additionally, the bank also operates a loan origination office at its Stamford location. The bank has entered into a number of arrangements with third-party outside service providers, who provide services, such as correspondent banking, check clearing, data processing services, credit card processing and armored car carrier transport. Investment Securities As of December 31, 2022, the company’s securities were U.S. government agency and mortgage-backed securities; corporate bonds; subordinated notes; SBA loan pools; and municipal bonds. Deposits As of December 31, 2022, the company’s deposits were non-interest bearing deposits; and interest bearing deposits, such as negotiable order of withdrawal accounts, savings, money market, certificates of deposit (less than $250,000 and $250,000 or greater), and brokered deposits. Loans As of December 31, 2022, the company’s loans were commercial real estate (CRE) loans, residential real estate loans, commercial and industrial loans, consumer and other loans, construction loans, and construction to permanent – CRE loans. Supervision and Regulation As a bank holding company, the company’s operations are subject to regulation, supervision, and examination by the Board of Governors of the Federal Reserve System (the Fed). Under the Bank Holding Company Act of 1956, as amended (BHC), the company is required to file semi-annual reports of its operations with the Fed for the period ended June 30 and for the year ended December 31. The company and any of its subsidiaries are subject to examination by the Fed. The bank is also subject to certain restrictions imposed by the Federal Reserve Act on issuing any extension of credit to the company or any of its subsidiaries, or making any investments in the stock or other securities thereof, and on the taking of such stock or securities as collateral for loans to any borrower. The company’s operations are subject to regulation, supervision, and examination by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency’s (OCC). The bank is a member of the Fed and, as such, is subject to applicable provisions of the Federal Reserve Act and regulations thereunder. The bank is subject to the federal regulations promulgated pursuant to the Financial Institutions Supervisory Act that are designed to prevent banks from engaging in unsafe and unsound practices, as well as various other federal, state, and consumer protection laws. The bank is also subject to the comprehensive provisions of the National Bank Act. In addition to other laws and regulations, the company is subject to the Community Reinvestment Act (CRA), which requires the federal bank regulatory agencies, when considering certain applications involving it, to consider its record of helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods. History Patriot National Bancorp, Inc. was founded in 1994. The company, a Connecticut corporation, was incorporated in 1999.