STAMFORD, Conn., Oct. 5, 2015 (GLOBE NEWSWIRE) -- Patriot National Bancorp, Inc. (NASDAQ:PNBK), the holding company for Patriot Bank, N.A. (Patriot) announces it has been named one of the nation's top performing small-cap banks by investment banking and advisory firm Sandler O'Neill + Partners and the only bank in New England to be so honored.
Patriot is but one, of 13 new banks joining the Bank & Thrift Sm-All Stars ranking, among 435 publicly traded U.S. banks and thrifts evaluated. Only 34 U.S. banks and thrifts qualified for the top tier.
According to the ranking's authors, Mark Fitzgibbon, CFA, Principal & Director of Research and Casey Orr, Associate Director of Sandler O'Neill + Partners, the intention of the ranking is to "uncover the next crop of stellar mid-cap banks before they are discovered by the rest of the world."
Sandler O'Neill's evaluation focused on each bank's growth, profitability, credit quality and capital strength, in addition to the industry medians for loan, deposit and earnings per share growth, return on average equity, non-performing assets/loans and other real estate owned over the 12 months ending June 30, 2015.
Among the roster of 2015 All-Star banks, Patriot excelled in loan growth at 21.1% and deposit growth at 7.3%. Among all banks and thrifts, the median loan growth is 9.2% and deposit growth is 6.5%.
"We're extremely pleased by this industry benchmark acknowledging the positive impact of Patriot's team of bankers. Our mission has been to refocus how Patriot serves its clients and this prestigious industry honor is a significant third-party validation of that result to-date," said Ken Neilson, Patriot's President and CEO.
About Patriot National Bancorp, Inc.
Patriot National Bancorp, Inc. (NASDAQ:PNBK), operates as the holding company for Patriot Bank, N.A. which provides consumer and commercial banking services to individuals, government and nonprofit entities, small and medium-sized businesses and professionals. The Company's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York. Patriot Bank currently operates 10 full service branches, 8 in Connecticut and 2 in New York. Both Patriot Bank, N.A. and Patriot National Bancorp, Inc. are headquartered in Stamford, Connecticut. Patriot Bank was founded in 1994.
Source:Patriot National Bancorp, Inc.