Patriot Bank Terminates Formal Agreement With U.S. OCC, Effective June 30
The Office of the Comptroller of the Currency, in an order dated June 30, 2026, stated that "the safety and soundness of the Bank and its compliance with the laws and regulations does not require the continued existence of the [Formal] Agreement." Steven Sugarman, President and CEO of Patriot Bank, stated "This important milestone is a testament to the terrific team Patriot Bank has assembled to build America’s premier bank serving high-net-worth families. The termination of the Formal Agreement will result in immediate benefits for our shareholders through reduced regulatory costs and fees. Our team will continue to be laser focused on expanding our deposit franchise across key markets throughout the country." Patriot Bank published a Shareholder Update letter from Mr. Sugarman dated July 1, 2026 which provides additional details on the impact of Patriot Bank’s improved regulatory st...
The Office of the Comptroller of the Currency, in an order dated June 30, 2026, stated that "the safety and soundness of the Bank and its compliance with the laws and regulations does not require the continued existence of the [Formal] Agreement." Steven Sugarman, President and CEO of Patriot Bank, stated "This important milestone is a testament to the terrific team Patriot Bank has assembled to build America’s premier bank serving high-net-worth families.
The termination of the Formal Agreement will result in immediate benefits for our shareholders through reduced regulatory costs and fees.
Our team will continue to be laser focused on expanding our deposit franchise across key markets throughout the country." Patriot Bank published a Shareholder Update letter from Mr.
Sugarman dated July 1, 2026 which provides additional details on the impact of Patriot Bank’s improved regulatory status and updates relating to the bank.
The letter can be found at or the investor relationship link at