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Get filing alertsOCC removes Patriot Bank's 'troubled condition' designation after Formal Agreement exit
Filed July 13, 2026 · Period ending July 7, 2026 · ~1 min read
Key Changes
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OCC notified Patriot Bank on July 7, 2026 that it no longer considers the bank in 'troubled condition' under federal banking regulations, following the June 2026 termination of the related Formal Agreement.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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The troubled condition designation was originally disclosed in January 2025, meaning approximately 18 months elapsed between designation and removal.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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The Formal Agreement termination (July 1, 2026) and troubled condition removal (July 7, 2026) occurred within six days, signaling successful remediation of regulatory concerns.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
Patriot Bank received formal notification from the OCC that it is no longer considered in 'troubled condition' as of July 7, 2026. This follows the termination of the bank's Formal Agreement with the OCC just six days earlier on July 1, 2026. The troubled condition designation had been in place since January 2025, making this an 18-month remediation cycle.
For retail holders, this is a meaningful regulatory milestone. The removal of troubled condition status indicates the bank has successfully addressed the financial and operational concerns that triggered the original designation. The quick succession of the Formal Agreement termination and troubled condition removal suggests the OCC views the bank's remediation as complete. This should reduce regulatory uncertainty and may expand the bank's operational flexibility, though investors should monitor whether the improved regulatory standing translates to improved financial performance in upcoming quarterly reports.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 7, 2026, Patriot Bank, N.A. (the “Bank”), the wholly-owned subsidiary of Patriot National Bancorp, Inc. (the “Company”), received a letter from the Office of the Comptroller of the Currency (“OCC”) notifying the board of directors of the Bank that, as of July 7, 2026, the OCC does not consider the Bank to be in “troubled condition” for purposes of 12 U.S.C. §183li and 12 C.F.R. §5.51.
The OCC has formally removed Patriot Bank's troubled condition designation as of July 7, 2026. This follows the June 2026 termination of the related Formal Agreement. The removal of troubled condition status is a significant regulatory milestone, indicating the Bank has addressed the concerns that led to the original designation in January 2025.
Added in current filing · verify on EDGAR →
The termination of the related Formal Agreement between the OCC and the Bank was previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC on July 1, 2026.
The filing notes that the Formal Agreement with the OCC was terminated on July 1, 2026, just six days before the troubled condition designation was removed. These two regulatory actions together signal the Bank's successful remediation of regulatory concerns.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 16, 2026 · How we verify