Patriot Bank's Agreement With Office of Comptroller of the Currency Terminated
MT Newswires Live
Jul 01
Patriot National Bancorp (PNBK) unit Patriot Bank's formal agreement with the Office of the Comptroller of the Currency, has been terminated, effective June 30, the company said Wednesday.
The Office of the Comptroller of the Currency said "the safety and soundness of the bank and its compliance with the laws and regulations does not require the continued existence of the agreement," the company said.
The termination of the formal agreement will result in reduced regulatory costs and fees, the company said.
Shares of the company were up 4.4% in recent Wednesday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.