Patriot National Bancorp, Inc., the parent company of Patriot Bank, N.A., is undergoing an evaluation process aimed at maximizing shareholder value by exploring various strategic initiatives. This includes possibilities such as raising capital, forming strategic partnerships, selling, or merging. The company is working with investment banking firm Performance Trust Capital Partners, LLC for this exploration. There has been no decision made about engaging in a transaction yet, and there's no certainty that any transaction will occur. Until a decision is made, the bank will keep focusing on its non-interest income businesses. The bank aims to continue serving its customers while considering a potential capital infusion or strategic partnership to foster asset and loan growth.
Names Mentioned: