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THE PATRIOT NATIONAL BANK EMPLOYEE NEWSLETTER
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FALL 2009
Anniversary Reflections We celebrated 15 years on August 31st!
“Patriot
National Bank
may have
grown from
one branch
to nineteen
(servicing
12,000
households)
during the
past fifteen years but our banking philosophy remains the same as it was on opening
day, August 31, 1994. We’re still a community
bank, dedicated to helping our neighbors and
neighborhoods grow. I’ve been a member of
the Patriot National Bank family for the past
nine years and I am proud to be part of an
organization that puts community and customer first! Happy Anniversary Patriot!”
~ Charlie Howell, President/CEO
Pictured above: Dottie Rich, Michael
Capodanno, Carmen Estevez, John Kantzas,
Barbara Devine and Phil Wolford.
Pictured above right: Dr. Michael Intrieri
and L. Morris Glucksman
Original employees share their
memories of opening day.
“Food flowed and music played as we opened
accounts and welcomed members of the
community. It was a dream come true and
supported my belief that Each and Every
person in the community is special. I knew
PNBK would build partnerships within the
community and enhance the success of each
individual’s day to day life. As it was then and
remains now, Customer Satisfaction is Key!”
~ Director/Co-Founder,
Dr. Michael Intrieri
“When we began the process of opening the
bank, it was a tumultuous time in the financial
industry. Numerous local banks had been
closed or taken over by the ‘Big’ banks. We
wanted to organize a new bank in Connecticut
and were determined to bring neighborhood
banking back to Stamford. Patriot was readily
embraced by everyone in the area who wanted
to be treated like a person at their bank, rather
than a number. Our opening was a real success
Why I Love Patriot National Bank
A customer’s perspective
An employee’s perspective
Angela Prisco of Planet
TV & Appliances in
Stamford tells us “Banking
with Patriot is like having a
warranty that never expires.
We know we can always
count on getting top-notch
service from Peggy and her team.”
Angela and her four brothers Chris,
Anthony, Stephen and Robert have
owned this home appliance/home entertainment store at 900 High Ridge Road
since 1999. The area leader in home
theatre design and installation, they
also sell and service top-notch brands
of consumer electronics.
Peggy Duguay, VP/
Branch Manager of
our High Ridge Road
branch in Stamford shares,
“Customers have told me
they love banking at Patriot
because we take the time to
get to know them and offer them the
kind of old-fashioned, personal service
they don’t get anywhere else. I’ve been
a banker for the past thirty years, many
of them at a large financial institution.
Since joining Patriot in 2003, I can
honestly say that comparing a ‘Big Box’
bank to a Community Bank is like
‘comparing apples to oranges.’
As retailers in a competitive industry, they
understand the importance of providing
The reasons my customers love banking
here are the same reasons I love working
continued on page 2
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starting with the Labor Day
party we held in the parking
lot for all who came in to
celebrate with us and to
open accounts.” ~ L. Morris
Glucksman, Director/Co-Founder
“In 1991 we had a dream to open a community bank that would serve the needs of our
neighbors and small businesses in the area.
With a lot of hard work and persistence that
dream became a reality in 1994! Eighteen
years later I am still as proud of all we have
accomplished as I was the day we opened. I
can honestly say that I think we’ve made a
difference in many lives and businesses by
being an alternative to big banking and
responsive in a way that has really helped
our communities thrive.”
~ John Kantzas, EVP/Co-Founder
“The opening day of Patriot National Bank
was the culmination of years of effort by many,
many people. We had the fundraisers, the
bankers, the cheerleaders, the regulators. It
was a time of anticipation and stress. Would
we raise the capital on time? Would the staff
and the systems, policies and procedures, teller
terminals and ATM be ready on time? Would
we pass our first day OCC audit? Would the
customers come? And finally in a very short
window of time we completed the minimum
capital requirements, closed the IPO, passed
the first day audit, got our charter and filled
continued on page 4
In this Issue:
Focus on Accounting
Be Prepared, Be Informed,
Be in Charge
Bank Notes
Hail to the Troops
Patriot People
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FOCUS ON:
Accounting
Do you have trouble keeping track of
household expenditures? Struggle to
balance your checkbook because you
forgot to record those debit transactions
at Starbucks? Have you wondered why
the oil company didn’t receive the check
you mailed last week? We all have problems from time to time reconciling our
accounts and keeping all the numbers
straight. These problems, however,
PALE in comparison to the issues
tackled by our Accounting Department
on a daily basis.
Patriot deals with 2,000 different vendors
and processes an average of 300 invoices
each month. Couple this with the nearly
1,000 purchase orders processed each
year and you start to get an idea of the
magnitude of the “balancing act” that is
performed by this department. It’s easy
to understand why Todd Scaccia, VP
and Controller refers to his department as
the “hub of the bank.” Todd notes that
“virtually everything in the bank eventually comes through this department.”
In addition to paying and processing
invoices, reconciling the bank’s books,
monitoring the budgets for each of the
19 branches and all of the bank’s departments, Accounting is also charged with
financial and regulatory reporting. And,
as the financial climate has changed, so
has the regulatory agencies’ demand for
greater detail. This means even more
paper generated and more time spent
preparing these reports.
In spite of these demands, this staff of
experienced accountants, bankers and
financial professionals, manages to keep
the process organized and under control,
all with a smile on their faces! What has
grown from a department of one in
1994 is now a team of 6, each member
handling a different function. In addition
to Todd Scaccia, there is AVP Laura
Martell-Ortiz who is the Accounting
Back row: Doreen Nugent, Todd Scaccia,
Guy Santangelo and Donna Franco.
Front Row: Laura Martell-Ortiz and
Maureen Truini.
Manager; AVP/Senior Financial Analyst
Guy Santangelo who handles the bank’s
asset/liability management and interest
rate risk responsibilities; Maureen
Truini, a Senior Accountant in charge
of financial and regulatory reporting;
Junior Accountant Donna Franco who
works with the general ledger, fixed
assets, investments and reconciliations;
and Doreen Nugent, our Accounts
Payable Coordinator, who processes
the numerous bills.
Why I Love Patriot National Bank continued from page 1
A customer’s perspective
An employee’s perspective
good customer service. “We’re not
Best Buy,” Angela notes. “We take
customer service personally, just like
the bank.” For the Priscos and
Patriot, that means talking to a live
person instead of reaching voice mails
or following recorded prompts. It
means if there’s an issue, they get a
Peggy Duguay and Angela Prisco
phone call from their banker, instead
of a fee. It means getting treated like a neighbor, not a number.
here. The relationships I form with my customers are
the most satisfying part of my job. Whether it’s helping an entire family with their banking needs or being
part of a small business’ success by providing the right
financial solution, I feel the work I am doing here really emphasizes how much Patriot has become a part of
the community.
When High Ridge Road Branch Manager Peggy Duguay first introduced
herself to her new neighbors, they were banking at a ‘Big Box’ bank.
Although they weren’t thrilled with the lack of personal attention, they
weren’t quick to move their accounts either. “The products offered were
fine and it seemed like it would be a huge hassle to change. When we
were finally ready, Peggy made the process of switching our accounts
almost effortless. We’ve been business customers and now personal
customers of the bank for the last four years,” said Angela. “We get
the same level of service and attention now that we did when Patriot
was vying for our business. Any time I’ve had a question or concern, I
know I can just pick up the phone and call Peggy, Juan or any one of
the wonderful tellers there.”
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At Patriot, we’re small enough to know you, but big
enough to service you. When I have a question or my
customer has an issue there’s no bureaucratic chain of
command to follow. I can get an answer simply by
making a phone call because all Patriot employees have
easy access to upper management. This open door policy means that not only is my opinion sought by management, its listened to as well. As seasoned bankers
(there’s a combined total of 55 years in my branch
office alone), branch managers are trusted to run their
branch as if it’s their own.
It’s important to me too, that at Patriot, we just don’t
pay lip service to being a community bank. Whether as
volunteers or champions of local business, we’re totally
committed to the communities we serve.”
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Be Prepared, Be Informed, Be in Charge
5 Things You Can Do to...
Protect Against Bad Deals and Scams that Arrive by Phone, Letter and the Internet
Beware of crooks impersonating
legitimate businesses, charities
and other organizations
1. Never divulge personal information
in response to an unsolicited call, letter
or e-mail. Just having information about
your checking account may be enough
for a thief to obtain a bank draft that
deducts funds from your account.
So unless you initiate the contact
with another party and you know it's
reputable, don't provide details such
as your Social Security Number, bank
account and credit card numbers, personal identification numbers (PINs), date
of birth, or your mother's maiden name.
Also don’t provide personal information
via phone or e-mail in response to an
unsolicited e-mail or an Internet advertisement, no matter how legitimate it
may appear. That’s because there are
fraudulent, copycat e-mails and sites
that are designed to appear to be from
well-known companies. If you want to
follow up with a company, use an e-mail
address or phone number from a reliable,
independent source that you go to on
your own.
2. Thoroughly check out any offer
before agreeing to anything. Always
get key details in writing. Carefully read
all the documentation, including the fine
print in applications and contracts, to
understand your potential costs, risks and
requirements. Don’t just rely on what a
sales person tells you or what’s printed
in promotional literature. Ask friends
and family what they think.
Do some comparison shopping at your
bank and one or two other financial
services firms to make sure that the
“special” unsolicited offer you received
is really special.
With credit card offers, for example,
carefully review the terms and conditions,
including the potential fees or penalties,
all of which must be disclosed to you
before you incur any charges on the
account. By law, the most important
terms in credit card offers must be in a
specially highlighted box or near the box.
3. Try to deal only with businesses
you already know or that have been
recommended by someone you trust.
This minimizes the chance that you may
be lured in by a high-cost company or a
shady marketer, perhaps even a con artist.
When in doubt, start with your state or
local consumer protection office (listed
in the blue pages of your phone book)
and ask where to go for information on
whether a service provider is properly
licensed to do business and whether there
are complaints or rule violations tied to
this company. Another resource for
complaints against a company is the
Better Business Bureau.
For guidance on whether a bank is legitimate, you can call the FDIC's toll-free
consumer assistance line (1-877-ASKFDIC, which is 1-877-275-3342). You
can also use the FDIC's online directory
of insured banking institutions, Bank
Find, at www2.fdic.gov/
idasp/main_bankfind.asp.
4. Assume that any offer that “sounds
too good to be true” – especially one
from a stranger or an unfamiliar
company – is probably a fraud.
Common examples include:
• A telephone call or a letter notifying
you of winning a lottery or a sweepstakes that you don’t remember entering, and you are told to pay “taxes” or
“fees” before you can claim your prize.
• A promise of an investment paying
significantly above market rates.
• A fake job offer that promises to pay a
lot for doing very little (such as stuffing
packages or envelopes at home) and
may involve handling or wiring money.
“The crooks mostly want to learn your
Social Security Number from your
application or they want you to deposit
a fraudulent check and then wire money
to them out of your bank account,”
said Michael Benardo, manager of the
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FDIC‘s financial crimes section. (Read
more about fake check scams.)
• An Internet friendship or romance
that soon leads to pleas for money
and secrecy.
If you think that you've already been
fooled by a con artist, you can file a
complaint with the government at
www.lookstoogoodtobetrue.com/
complaint.aspx, a Web site that is a
joint effort of federal law enforcement
agencies and corporate partners. You
can also contact the Federal Trade
Commission toll-free at 1-877-FTCHELP (1-877-382-4357) and your
local police or the police where the
fraud took place. Ask to file a written
report about the incident.
5. Know the other signs of a scam.
In general, any story that grabs your
attention and emotions and then forces
you to act quickly – before you have
time to think rationally – may be part
of a con game. Here are some of the
classic red flags of financial fraud:
• You’re told to send money or provide
bank account information up front –
before you receive any goods, services
or other benefits.
• You’re pressured to act fast, even before
you’ve seen details in writing. “Scam
victims have been interviewed by
researchers and the results show that
even very smart people can be tricked
by fast talkers who spark emotions and
then say, ‘This is a limited time offer.
Act fast before it's too late’,” Nelson
said.
• You sense a reluctance to answer questions or provide written information.
• Someone tells an emotional story of
being “in danger” or the victim of fraud
or discrimination and then asks for your
help, perhaps by placing funds in an
overseas bank account.
• You’re told you already agreed to
donate or pay money, and you don’t
remember doing so.
Reprinted from the FDIC Website/
Consumer News & Information.
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Bank Notes
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Our New Testimonial
Ads Debut!
Fall is synonymous with new beginnings and
thus the perfect time to introduce our newest
Freedom of Choice relationship packages and our new Customer
Testimonial Ad Campaign. Ask Your Patriot Banker if you’re looking for a more Meaningful Banking Relationship!
Patriot People let everyone know why
they love banking with us in a testimonial campaign featuring our actual
customers! Shown here is an ad that
appears in the Playbill for the Stamford
Center for the Arts with award-winning
chef and restauranteur Jean-Louis Gerin
of Restaurant JEAN-LOUIS in
Greenwich.
New Checking Relationship Packages are here!
• Patriot One Checking is ideal for individuals and sole
proprietorships that prefer the hassle-free convenience of
direct deposit.
• Patriot Personal Checking is the FREE and EASY banking
option that offers the most important extras…convenience
and accessibility.
Oysters, Anyone?
• Patriot Platinum Checking is relationship banking that rewards
those individuals who want more than just a checking account.
Patriot sponsored both the Sky
Divers Event and a booth for
the Disabled American Vets,
CT Division at the Norwalk
Seaport Association’s Oyster
Festival, September 11-13th.
Veteran Colleen Sullivan, a
member of the DAV, jumped
alongside the twenty-two
professional divers.
Photo by Sarah Allen
• Patriot Platinum Plus is designed for the high balance
customer. Manage all of your accounts
while earning special rates on savings
and CD’s.
• Patriot College Bound Checking is
the smart solution for the busy student;
no worries about maintaining
minimum balances or paying check fees.
• Patriot InterestNOW Checking is
interest-bearing checking for individuals
and certain sole proprietorships who
maintain a more sizeable balance.
Our new posters, at left, prompt customers
to Ask Their Patriot Bankers About More
Meaningful Banking Relationships!
Anniversary Reflections continued from page 1
I know I share with everyone involved a great sense of pride and
ownership.”~ Michael Capodanno, SVP
the parking lot of 900 Bedford Street with grills, hamburgers, hot dogs
(cooked by the Board members) and customers. What a wonderful
day!” ~ Phil Wolford, COO/Compliance Officer
“To say the least, it was very exciting. All the time and energy we put
into making the opening happen was certainly worth the effort. When
the doors opened that first day I felt like a new mother – proud, excited
and overwhelmed. We had given birth to something! About a week
after our “soft” opening, we held a Grand Opening Celebration in the
parking lot. It felt good to be able to stand back and celebrate all we
had achieved.”~ Carmen Estevez, VP, Loan Operations
“When I started as Deposit Ops Manager in mid-July we had no
brochures and no forms. We started from scratch; I wrote and typed
our first brochures to send to the printer. I remember opening day
as a really hectic yet exciting day – greeting customers, answering
questions and making sure that the tellers knew how to process
transactions on the new system. We never stopped moving and doing.
Even though my job was back office, I ended up opening the first
business account while I was on the banking floor. ~ Barbara Devine,
SVP/Branch Administration/Security Officer
“Patriot National Bank opened on August 31, 1994; I joined two
weeks later on Sept. 16th.The original group soon were like family –
employees, the advisory board and Board of Directors often gathered
over meals to discuss the bank’s progress and future. In my fifty-five
years of banking, I have enjoyed the past fifteen years at Patriot the
most. Customers appreciate my personal touch and the management
at Patriot encourages us to always go the extra mile. I’m looking forward to celebrating many more anniversaries here!” ~ Dottie Rich,
AVP/Customer Service Representative at 900 Bedford Street
I joined the bank in June 1994. The week before we opened, we had
to pass a rigorous pre-opening exam by the Office of Comptroller of
the Currency demonstrating that we had all the necessary systems, policies and procedures in place. As I was THE Accounting Department,
I breathed a huge sigh of relief when they gave us the official GoAhead! I remember thinking, we’re officially a bank now! When reflecting upon how much growth we’ve experienced in the last fifteen years,
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Hail to the Troops!
Patriot and Local School Children Salute Our Disabled American Vets for Memorial Day
Dear Veterans,
Thank you for helping keep this great country safe. You have taken time out
of your lives and put all of your effort into serving America. You have left
behind important things and put your lives at risk. You did this all for our
future. You are the true heroes of America.
~ Kyra Solomon, 5th Grader at Springdale School in Stamford
Kyra was one of the many local school children who expressed her thanks
and appreciation to our Disabled American Veterans during receptions
hosted by Patriot National Bank in recognition of Memorial Day. Patriot
partnered with local schools to honor members of the Disabled American
Veterans (DAV), CT Division. The children, kindergartners through fifth
graders, wrote and presented cards and letters to the Veterans in our
Stamford/High Ridge Road and Trumbull offices.
On Wednesday, May 20th, third, fourth and fifth graders from Stamford’s
Springdale and Hart Magnet School saluted local Stamford Vets. On
Wednesday, May 27th, kindergartners and fourth graders from Trumbull’s
Frenchtown and Daniels Farm Elementary Schools paid tribute to CT.
Veterans including Trumbull First Selection, Ray Baldwin, Jr.
Patriot National Bank and Stamford’s Springdale and
Hart Elementary school children honor Veterans (from L-R):
Al Meadows, Buffert Brooks, Tim Huff and Peter Nixon.
Al Meadows, a Veteran of the Vietnam War and past DAV State
Commander, brought along mementos of his time served, including a
helmet, food rations, photos and his Purple Heart medal. He noted Patriot’s
relationship with the DAV and how grateful this not-for-profit organization
is for Patriot’s support. “Meeting and listening to the children read the card
that they have individually prepared is a very emotional experience for all
the Vets because of the heartfelt messages inside.” Mr. Meadows also adds,
“Patriot National Bank truly lives up to the motto of the Disabled American
Veterans in that they are, ‘Building Better Lives for America’s Veterans’.”
Cole Fischman, a fourth grader at Frenchtown School liked “when the men
were sharing stories of the war and how they saved people’s lives. There was
a picture of a man holding his ears while testing equipment. One week later,
he died. I was motivated to make the card because I knew some people in
the war were disabled and I wanted to thank them for helping the country.”
The DAV provides programs and assistance free of charge to disabled
Vets and their families, enabling them to restart and reshape their lives as
civilians. As part of our on-going relationship with the DAV, we recently
presented them a check for $10,000 collected from both customer and
employee donations. To learn more about the DAV, contact
www.davmembersportal.org/ct.
HELP WANTED!
Patriot National Bank and Trumbull First Selectman
Raymond Baldwin join educators and children from
Trumbull’s Frenchtown and Daniels Farm Elementary
Schools to recognize Veterans (from L-R): Al Meadows,
Steve Frank, Richard Pescatore and Al Church.
ENTHUSIASM, NOT EXPERIENCE REQUIRED.
Volunteer to SAVE THE SOUND on Saturday, Oct. 3rd! Patriot
employees are encouraged to join our corporate clean-up program in
an effort to rid our coastline of marine debris and help protect the
health of our waterways and wildlife. We will be meeting at Cove
Island Park in Stamford from 10AM-12PM. A box lunch will be served.
Contact Lisa Grant at lisagrant@pnbk.com for details.
This is the most fun you’ll ever have at work! Volunteer to be a
Patriot Balloon Handler at this year’s Stamford Thanksgiving Parade
on Sunday, November 22nd. This will be the 16th annual parade and
Patriot’s 7th year of participation. Did you know that this is also the
second largest balloon parade in the state? Contact Sarah Allen at
sallen@pnbk.com for more details.
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Patriot People
John Kantzas
Executive Vice President and CoFounder John Kantzas received a
“Patriot of the Year” award from the
charity, Help Hospitalized Veterans.
This national, non-profit organization
distributes therapeutic arts and crafts kits
to patients receiving care at Department
of Veterans Affairs medical centers, state
nursing homes for veterans and military
hospitals.
Neil Dickson
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Vice President and Greenwich
Branch Manager Neil Dickson
received a Community
Dedication Award for his service
to Girls Inc., an organization
that inspires all girls to be
Strong, Smart and Bold.
Presenting the award is Program
Director of Girls Inc. of SWCTGreenwich, Jen Kannengeiser.
Wendy Macedo, Vice President and Branch
Manager at Wilton Center is beginning her
third term as Wilton Rotary Club Treasurer
and Board Member.
Andrea Barron, Vice President and Branch
Manager of Southport was recently elected
Secretary of the Fairfield Chamber of
Commerce. Andrea has served on the Board
for the past three years.
Chris DellaRocco, Vice
President and Branch
Andrea Barron
Manager for our Milford
branch is Treasurer for the Senior Wish Society
of Milford/Orange. A non-profit, charitable
organization, the Society brings together
providers of services to the elderly for the
Chris DellaRocco purpose of granting wishes to the elderly
recipients of limited income.
Vice President and Trumbull Branch Manager
Rich Mishley taught a Junior Achievement
class to fifth graders at the Middlebrook
Elementary School. The class focused on the
different types of business organizations, the
methods of production and how to bring a
product to market. Special highlights included
a personality/skills assessment for the kids and Rich Mishley
making business cards based on their career
choices. Rich has been teaching Junior Achievement classes
throughout Fairfield County for the past 15 years.
Steve Smith
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Marketing Coordinator
Lisa Grant is on
the public relations
Wendy Macedo
committee for the
Women’s Business Development Center
(WBDC) 8th Annual AM Business Breakfast
Series. The breakfast will be held on
Lisa Grant
Thursday, October 1st and will focus on
Lessons in Entrepreneurship. Established in 1997, WBDC is a
non-profit organization that promotes economic development
through entrepreneurship for both men and women.
Credit Analyst Tyler Dickinson, braved the cold
waters of Long Island Sound on March 7th for
Special Olympics’ annual Penguin Plunge. All
proceeds from the event directly support Special
Olympics Connecticut’s year-round sports training
and athletic competition programs for the more
Tyler Dickinson
than 6500 children and adults with intellectual
disabilities throughout the state. The Patriot
Penguins, of which Tyler was a member, raised $4,000.
ANNIVERSARY CELEBRANTS:
15 Years
John Kantzas
Phil Wolford
Carmen Estevez
Dotty Rich
Steve Smith, Vice President and Chief
Marketing Officer has been elected to the
Board of Directors of the Kennedy Center in
Trumbull, CT. The Center is one of the most
comprehensive rehabilitation facilities in the
State of Connecticut actively responding to
the needs of persons with intellectual and
other disabilities.
10 Years
Angelo DeCaro
Betty Tassone
Marty Noble
Suzena James
Sarah Allen
Laura Martell-Ortiz
5 Years
Wendy Macedo
Maria Rodriguez
Nellie Rivera
Jessica Torres
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