Patriot Bank

What Patriot Bank does

Patriot Bank, N.A. is a Connecticut-chartered national bank subsidiary of Patriot National Bancorp, Inc. (NASDAQ: PNBK), headquartered in Stamford, CT. Founded in 1994 as Patriot National Bank and renamed in 2015, the bank holds approximately $1.2 billion in total assets across 10 branches and ATMs spanning Connecticut and Scarsdale, NY, with planned openings in Beverly Hills (Q1 2026) and Palm Beach (June 2026). Following significant losses in 2023-2024 that triggered an OCC consent order in January 2024 and a nearly $27 million quarterly loss in Q3 2024, Patriot executed a transformational recapitalization in 2025, raising nearly $100 million in common equity and returning to profitability late that year with a Tier 1 capital ratio exceeding 18%.

Name

Patriot Bank

Legal name

Patriot Bank, N.A.

Website

https://bankpatriot.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Patriot Bank, N.A. is a Connecticut-chartered national bank with ~$1.2B in assets serving high-net-worth individuals, family offices, fintechs, and small businesses across Connecticut, New York, Florida, and California through relationship banking and a concierge Founders Club program.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Retail banking services
• Commercial lending
• High-net-worth banking
• Community banking
• Fintech banking services

Headquarters

HQ city

Stamford

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loans: Primary revenue stream from originating commercial real estate loans, high-net-worth lines of credit (C&I), and secured rediscount lines. Loans are typically floating rate tied to SOFR, U.S. Treasury, or WSJ Prime Rate index.
2. Interest Income from Purchased Assets: Revenue from purchased financial assets including securities and other interest-earning investments.
3. Non-Interest Income: Fees from deposit accounts, wire transfers, overdraft fees, ATM fees, and other banking service charges.
4. Institutional Banking Services: Services to fintechs, non-depository financial institutions, lenders, and businesses including white-label lending, treasury management, prepaid and credit cards, and digital payments services.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Patriot Bank is a Connecticut-chartered commercial bank providing personal and business deposit accounts, lending products, and digital banking services through a 10-branch network across Connecticut and New York, with expanded operations into Palm Beach, Florida and a planned Beverly Hills, California office. Following a 2025 recapitalization and leadership rebuild, the bank is repositioned around concierge-style relationship banking for high-net-worth individuals, family offices, entrepreneurs, and institutional/fintech clients. Core offerings include checking and savings accounts, certificates of deposit, commercial real estate lending, treasury management, and a Founders Club concierge program with deposits typically exceeding $1 million.

Product overview

Patriot Bank offers a comprehensive banking platform providing personal, business, and commercial banking products through 10 branch locations in Connecticut and New York. The core product portfolio includes multiple checking accounts (Star Banking, eChecking, Patriot Checking, The ONE Account for high-net-worth clients), savings accounts (Star Savings, Money Market, Youth Savings, Health Savings Accounts), Certificates of Deposit (including IRA CDs, Roth IRA CDs, and CDARS), and business/commercial accounts (Small Business Checking, IOLTA/IOLA for attorneys, Municipal and Nonprofit accounts). The bank has recently pivoted to focus on high-net-worth clients through premium offerings like the Founders Club concierge program and Founders Certificate (3.50% APY for clients with $1M+ balances). Digital banking services include online and mobile banking, Zelle peer-to-peer payments, digital wallet support (Apple Pay, Google Pay, Samsung Pay), Savvy Money credit monitoring, CardValet fraud protection, Remote Deposit Capture, and Clover-powered credit card processing. The bank serves retail customers, small businesses, attorneys (IOLTA/IOLA), municipalities, nonprofits, and high-net-worth individuals with bespoke banking services.

Differentiator

Problem solved

Functional benefit

Brands

• Founders Club: A concierge-style relationship-based banking program for high-net-worth clients offering best rates, priority underwriting, and personalized service. Average deposits exceed $1 million.
• Star Banking
• The ONE Account
• Founders Certificate
• Patriot Live Banker ATMs

Products and services

• Star Banking Checking Account Personal interest-earning checking account with unlimited ATM fee rebates and special bonus rates on linked CDs and savings accounts; requires $15,000 aggregate minimum balance across linked accounts.
• eChecking Account Low-cost electronic checking account for cost-conscious consumers with minimal check usage, paired with online and mobile banking.
• Patriot Checking Account Full-service personal checking account with ATM fee rebates of up to $20 per month across 4 transactions and competitive everyday features.
• College Bound Student Checking Account Checking account designed for college students with no minimum opening deposit, no balance requirements, and ATM fee rebates.
• The ONE Account High-yield boutique personal checking account for high-net-worth individuals with balances over $50,000 earning 2.00% APY, featuring consolidated statements, unlimited ATM fee rebates, and expert professional guidance.
• Money Market Account Tiered personal savings account with higher interest rates than traditional savings, offering easy access to funds; requires $100 minimum opening deposit.
• Star Savings Account Tiered-rate personal savings account available only when linked to a Star Banking checking account with a $15,000 aggregate minimum balance.
• Youth Savings Account Personal savings account designed for young people to earn interest while learning money management, paying 2.00% APY.
• Health Savings Account Tax-advantaged personal savings account for medical expenses including doctor bills, dental care, and vision costs.
• Certificate of Deposit Personal term CD with terms from 3 months to 5 years, $500 minimum opening deposit, offering competitive fixed interest rates exceeding traditional savings.
• IRA Certificate of Deposit Tax-advantaged IRA certificate of deposit offering range of tax benefits for building retirement savings.
• Roth IRA Certificate of Deposit Tax-advantaged Roth retirement CD providing tax-free withdrawals in retirement.
• CDARS (Certificate of Deposit Account Registry Service) Multi-bank CD service allowing larger investors to place deposits up to FDIC coverage limits across multiple banks through a single relationship with Patriot Bank.
• Founders Certificate Exclusive high-yield CD offering 3.50% APY for high-net-worth clients who maintain aggregate balances over $1,000,000 across Patriot Bank deposit accounts earning less than 2.50% APY; $500 minimum opening deposit.
• Small Business Checking Account Small business checking account offering 200 free monthly transactions, $500 minimum opening deposit, and $15 monthly maintenance fee that is waived with a $2,500 average daily balance; includes online banking and mobile deposit.
• Business Checking Account Business earnings credit checking account where collected balance credits offset monthly maintenance and transaction fees, paying earnings credit on 90% of collected balance.
• Interest on Lawyers Trust Account (IOLTA) Interest-bearing trust account product for Connecticut attorneys that supports legal aid groups and meets client fund guidelines.
• Interest on Lawyers Account (IOLA) Interest-bearing account for New York attorneys allowing client funds to be kept separate from practice operating funds while earning competitive interest.
• Premium Business Savings Account High-rate business savings account requiring a $250,000 minimum balance and available only with a corresponding Premium Business Checking account.
• Business Money Market Account Tiered business money market savings account allowing higher earnings on reserve balances while keeping funds easily accessible.
• Municipal Checking Account Earnings credit checking account designed for larger municipalities to reduce monthly operating costs through collected-balance fee offsets.
• Municipal Interest Checking Account Interest-bearing checking account for smaller towns and agencies providing extra revenue on deposits while maintaining operating liquidity.
• Nonprofit Checking Account Low-expense checking account designed for larger nonprofits with tools to trim costs and monitor expenditures.
• Nonprofit Interest Checking Account Interest-bearing nonprofit checking account that maximizes organizational resources through steady interest income on deposits.
• Online Banking Web-based 24/7 online banking service providing account access, fund transfers, transaction tracking, electronic bill payment, and eStatements.
• Mobile Banking Smartphone and tablet mobile banking application for iOS and Android allowing customers to manage finances, deposit checks via smartphone camera, pay bills, and access accounts on the go, 24/7.
• Zelle Peer-to-peer money transfer service integrated within Patriot Bank's online and mobile banking, allowing fast transfers to enrolled recipients using email or phone number.
• Digital Wallet Debit card digital wallet integration supporting Apple Pay, Google Pay, and Samsung Pay for contactless payments at millions of merchants.
• Savvy Money Free credit score tracking service integrated within online banking with daily updates, real-time security alerts when scores change, and personalized money-saving offers.
• CardValet Mobile debit card management application allowing cardholders to enable/disable cards, set real-time alerts, restrict transactions by location or merchant type, and apply spending limits for fraud protection.
• Remote Deposit Capture Check deposit service using a workplace scanner to securely transmit check images through online banking, eliminating the need to visit a branch.
• Credit Card Processing (Clover from Fiserv) Customized Clover-powered credit card processing and business management solution from Fiserv for restaurants, retailers, and service businesses accepting card payments.
• Autobooks Business invoicing and payment acceptance software integrated with Patriot Bank's online banking for easier accounting, invoicing, and payment collection.
• Patriot Live Banker ATMs Video-conferencing ATMs enabling customers to speak directly with Patriot relationship bankers for deposits, withdrawals, check cashing, wire transfers, and CD renewals during extended hours.
• Founders Club Boutique concierge-style relationship banking program for high-net-worth clients providing best rates, priority underwriting, and personalized service from dedicated relationship managers; average deposits exceed $1 million.
• Founders Money Market Premium money market account paying 3.50% APY available to Founders Club clients who maintain an aggregate average balance of $1 million or more across all Patriot Bank deposit balances earning less than 2.50% APY.
• Institutional Banking Services for Fintechs Banking-as-a-service offering for fintech companies, non-depository financial institutions, lenders, and businesses including white-label lending, treasury management, prepaid and credit cards, and digital payments services.

Quantifiable outcome

• Over $200 million in term sheets and over $100 million in loans closed following core lending program relaunch
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

One partnership is on record.

• Parker (Fintech Startup)minorOthersPatriot Bank was the partner bank for Parker's corporate credit card and banking services program for e-commerce businesses. The relationship ended when Parker filed for Chapter 7 bankruptcy in May 2026 after failed acquisition talks. The shutdown raised questions about oversight in banking-as-a-service arrangements.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• ConnectOne Bancorp: A New York/New Jersey-based community bank of similar size (~$14B assets) with comparable consumer and business banking focus and selective HNW/wealth management expansion. Closely aligned business model and footprint to Patriot's Connecticut/New York base.
• Lakeland Bancorp: Northern New Jersey community bank of comparable asset size with a similar consumer/business banking mix and selective wealth and treasury management offerings. Direct comparable on community-bank deposit franchise economics.
• Tompkins Financial: Upstate New York and Connecticut community bank with a consumer, business, and wealth management mix of comparable scale. Competes with Patriot for HNW clients in Fairfield County and the broader Hudson Valley/Ct corridor.
• Dime Community Bancshares: New York-area community bank focused on consumer and small business deposit banking, recently expanding into commercial lending and specialty banking. Direct competitor for deposits and small business relationships in overlapping Long Island/Connecticut markets.
• S&T Bancorp: Mid-Atlantic community bank of similar size with consumer, small business, and commercial banking — including HNW and treasury management products. Closely matched on scale, product breadth, and operating model.
• Berkshire Hills Bancorp: Northeast regional community bank of comparable size with consumer, small business, and wealth management offerings across New England and New York. Similar asset scale and product breadth as Patriot.

Broad incumbents

• Valley National Bancorp: Larger regional bank with consumer, commercial, and wealth management franchises across New York, New Jersey, Florida, and Alabama — including HNW/private banking capability that overlaps Patriot's target segment. Bigger balance sheet but overlapping markets (notably Florida).
• BankUnited: Florida-headquartered regional bank with commercial, business banking, and wealth management offerings of much larger scale. Directly relevant comparable for Patriot's South Florida expansion ambitions and HNW pivot.
• New York Community Bancorp (Flagstar): Large multi-state regional bank with deep New York metro deposit franchise, multifamily and commercial lending, and wealth services. Represents the larger incumbent Patriot is competing against for HNW deposits in the tri-state area.

Emerging players

• Cross River Bank: New Jersey-chartered commercial bank purpose-built as a fintech BaaS/sponsor-bank partner, directly competing with Patriot's institutional banking vertical. Comparable technology-led banking-as-a-service model and fintech customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC6-JimOcaGgMTXNhuZW0NuQ
• Facebookfacebook.com/PatriotBankNA
• LinkedInlinkedin.com/company/patriot-national-bank
• Instagraminstagram.com/patriot_bank_na

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patriot Bank