Patriot National Bancorp (PNBK) will start paying a $0.01 per share quarterly dividend.

The record date for this quarterly dividend will be July 24, 2017, with a dividend payment date of August 1, 2017.  This is the first time since the financial crisis that the Bank has declared a dividend.

CEO Michael Carrazza stated: “Patriot’s improving performance is a direct result of ongoing operational efficiencies, product diversification and asset growth.  These changes continue to yield a positive impact, which now serve as a catalyst to reactivate the Bank’s dividend policy for the first time since 2008.”

The head of private investment firm Solaia Capital Advisors, Mr. Carrazza designed and led the recapitalization transaction to rescue and turnaround Patriot, which became deeply troubled during the financial crisis. “Patriot has never been as strong and healthy as it is today.  With continued steady growth and new achievements, we plan to continue declaring quarterly dividends to our shareholders,” he added.

Patriot National Bancorp, Inc. is headquartered in Stamford, Connecticut and the Bank has full service branches in Connecticut and New York.