Edgar Filing: PATRIOT NATIONAL BANCORP INC

PATRIOT NATIONAL BANCORP, INC.

Date: October 3, 2014

/s/ Michael A. Carrazza

Michael A. Carrazza

Chairman of the Board

8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 30, 2014

PATRIOT NATIONAL BANCORP, INC.

(Exact Name of Registrant as Specified in its Charter)

Connecticut

000-29599

06-1559137

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)


900 Bedford Street, Stamford, Connecticut				06901
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s telephone number, including area code: (203) 324-7500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other

Events

On September 30, 2014, Patriot National Bancorp, Inc. was notified by the Office of the Comptroller of the Currency (the “OCC”) that the formal agreement between Patriot National Bank (the “Bank”) and the OCC, dated February 9, 2009, has been terminated. This action was taken because the OCC no longer considers the Bank to be in “troubled condition”. We believe the decision to terminate the formal agreement was due to, among other things, the substantial improvement in the Bank’s asset quality, financial condition, earnings and regulatory capital position following the successful control recapitalization and turnaround plan of the Bank.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.