OCC terminates Formal Agreement with Patriot Bank; regulatory overhang removed

PATRIOT NATIONAL BANCORP INC

OCC terminated Formal Agreement effective June 30, 2026, citing safety and soundness no longer requires it.
Patriot spent over $5M on compliance since 2025; expects costs to decline sharply going forward.
Assets grew from $1.1B to $1.3B in H1 2026; loan originations >$40M/month at ~7% yield.
Beverly Hills location has >$100M in deposits; expansion into Greenwich and Palm Beach underway.
Board decided not to pursue reverse stock split; targeting $2B in assets for further scale.

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