Patriot elevates David Lowery to the Executive team as EVP & Chief Lending Officer
September 27 2021 - 9:00AM
Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the
“Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A.
(the “Bank”), today announced that David Lowery has been promoted
to Executive Vice President and Chief Lending Officer.
Mr. Lowery joined Patriot Bank in April of 2021
as Head of Lending. Overall, David is leading the Bank’s SBA
division, Commercial Real Estate, C&I and Consumer Lending
areas. Prior to joining Patriot, Mr. Lowery has served in various
senior capacities with several institutions including Iberiabank,
Metropolitan Commercial Bank and M&T Bank. He has built highly
successful lending businesses in the NY metropolitan area. Mr.
Lowery commented, “I’m very pleased to be a part of Patriot Bank
and to add value through lending while strengthening existing
relationships and building new ones.” Mr. Lowery earned his MBA at
Loyola University in Maryland where he also received his
undergraduate degree in Economics.
“David has provided strong leadership, focusing
the Bank’s lending division on growth while improving credit
quality and portfolio management and I am pleased to add him to our
executive team,” commented President and CEO Robert
Russell.
About the Company:
Patriot Bank is headquartered in Stamford and
operates 9 branch locations: in Scarsdale, NY; and Darien,
Fairfield, Greenwich, Milford, Norwalk, Orange, Stamford, Westport,
CT with Express Banking locations at Bridgeport/ Housatonic
Community College, downtown New Haven and Trumbull at Westfield
Mall. The Bank also maintains SBA lending offices in Stamford,
Connecticut, Florida, Georgia, Ohio, along with a Rhode Island
operations center.
Founded in 1994, and now celebrating its 27th
year, Patriot National Bancorp, Inc. (“Patriot” or “Bancorp”) is
the parent holding company of Patriot Bank N.A. (“Bank”), a
nationally chartered bank headquartered in Stamford, CT. Patriot
operates with full-service branches in Connecticut and New York and
provides lending products and services nationally. Patriot’s
mission is to serve its local community and nationwide customer
base by providing a growing array of banking solutions to meet the
needs of individuals and small businesses owners. Patriot places
great value in the integrity of its people and how it conducts
business. An emphasis on building strong client relationships and
community involvement are cornerstones of our philosophy as we seek
to maximize shareholder value.
“Safe Harbor” Statement Under 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 a variety of risks and
uncertainties. These factors include, but are not limited to: (1)
changes in prevailing interest rates which would affect the
interest earned on the Company’s interest earning assets and the
interest paid on its interest bearing liabilities; (2) the timing
of re-pricing of the Company’s interest earning assets and interest
bearing liabilities; (3) the effect of changes in governmental
monetary policy; (4) the effect of changes in regulations
applicable to the Company and the Bank and the conduct of its
business; (5) changes in competition among financial service
companies, including possible further encroachment of non-banks on
services traditionally provided by banks; (6) the ability of
competitors that are larger than the Company to provide products
and services which it is impracticable for the Company to provide;
(7) the state of the economy and real estate values in the
Company’s market areas, and the consequent effect on the quality of
the Company’s loans; (8) demand for loans and deposits in our
market area; (9) recent governmental initiatives that are expected
to have a profound effect on the financial services industry and
could dramatically 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 (“FDIC”)
premiums that may adversely affect the Company; (11) the
application of generally accepted accounting principles,
consistently applied; (12) the fact that one 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, vendors and
communities and other such factors, including risk factors, as may
be described in the Company’s other filings with the Securities and
Exchange Commission (the “SEC”); (14) political, social, legal and
economic instability, civil unrest, war, catastrophic events, acts
of terrorism; (15) widespread outbreaks of infectious diseases,
including the ongoing novel coronavirus (COVID-19) outbreak; (16)
changes in the level and direction of loan delinquencies and
write-offs and changes in estimates of the adequacy of the
allowance for loan losses; (17) our ability to access
cost-effective funding; (18) our ability to implement and change
our business strategies; (19) changes in the quality or composition
of our loan or investment portfolios; (20) technological changes
that may be more difficult or expensive than expected; (21) our
ability to manage market risk, credit risk and operational risk in
the current economic environment; (22) our ability to enter new
markets successfully and capitalize on growth opportunities; (23)
changes in consumer spending, borrowing and savings habits; (24)
our ability to retain key employees; and (25) our compensation
expense associated with equity allocated or awarded to our
employees.
Contacts: |
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Patriot Bank, N.A. |
|
Robert Russell |
900 Bedford Street |
|
President & CEO |
Stamford, CT 06901 |
|
203-252-5939 |
www.BankPatriot.com |
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