Mr. Carrazza is credited with the rescue and turnaround of Patriot National Bancorp, Inc.
He is also CEO of Solaia Capital Advisers, an investment management company.
Patriot Bank Chairman Rings Nasdaq Stock Market Closing Bell at Record High
Michael Carrazza, Chairman and CEO of Patriot National Bancorp, Inc. (Nasdaq: PNBK) headquartered in Stamford, Connecticut, rang the closing bell at the Nasdaq Stock Market in Times Square on May 9, as shares closed at a record high.
The Nasdaq Composite Index closed at 6,120, up 0.3%, a record high in 2017, and as its Patriot Bank stock climbed 3.8%.
Mr. Carrazza is credited with the rescue and turnaround of Patriot National Bancorp, Inc., following the global financial crisis. He is also CEO of Solaia Capital Advisers, an investment management company.
“Patriot National Bancorp is honored to ring the Nasdaq Closing Bell. Coincidently, this falls on the same day we announce our third consecutive quarter of significant earnings growth and massive jump in profits, putting us in closer reach of our billion-dollar asset target,” said Mr. Carrazza. “These results clearly demonstrate the commitment of Patriot Bank’s team to deliver value to its customers and investors.”
Nasdaq Executive Host David Wicks welcomed Patriot to the Nasdaq MarketSite.
“Patriot Bank’s strength lies in tailoring loans and banking services to their customer’s needs while delivering a VIP touch to every customer,” said Mr. Wicks. “This effort has made a dramatic difference. Nasdaq is proud to be your partner and we appreciate all you do for the community. We look forward to watching you continue to grow and continue to innovate as a Nasdaq listed company.”
The Closing Bell ceremony came on the heels of Patriot reporting a 66% in first quarter earnings compared to the prior fiscal quarter, and a 165% increase compared to one year ago. Patriot also reported a 22% increase in assets in the last year, surpassing $775 million, a 32% increase in deposits and 30% loan growth year-over-year.
Patriot Bank is a full-service financial institution with branches in the Connecticut counties of Fairfield and New Haven, as well as in Scarsdale, New York.