What changed in this filing

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Item 2. Properties

2023-03-29 compared with 2022-03-24 · 19 added, 21 removed, 6 unchanged (87% of the section changed)

The following table summarizes Patriot’s owned and leased properties, as of December 31, 2021:

Street Address

233 Post Road

1755 Black Rock Turnpike

100 Mason Street

900 Bedford Street

999 Bedford Street

771 Boston Post Road

50 Charles Street

16 River Street

415 Post Road East

495 Central Park Avenue

7 Old Tavern Road

30 Oak Street

300 Centerville Rd

At December 31, 2021, five branch buildings were owned and four branch facilities were leased.

Additionally, the Bank maintains certain operating and administrative service facilities and additional parking at its main branch banking office, which are subject to ten non-cancelable operating lease agreements.

Patriot’s lease agreements have terms ranging from one year to fifteen years with ten years and seven months remaining on the longest lease term.

Generally, Patriot’s lease agreements contain rent escalation clauses, and renewals for one or more periods at the Bank’s option.

On December 22, 2021, the Bank sold its building located in the City New Haven, Connecticut.

The Bank maintains an ATM at that location and maintains a lease for the space needed for the ATM.

The following table summarizes Patriot’s owned and leased properties, as of December 31, 2022:

Street Address City County State

233 Post Road Darien Fairfield Connecticut

1755 Black Rock Turnpike Fairfield Fairfield Connecticut

100 Mason Street Greenwich Fairfield Connecticut

900 Bedford Street Stamford Fairfield Connecticut

999 Bedford Street Stamford Fairfield Connecticut

771 Boston Post Road Milford New Haven Connecticut

50 Charles Street Westport Fairfield Connecticut

16 River Street Norwalk Fairfield Connecticut

415 Post Road East Westport Fairfield Connecticut

495 Central Park Avenue Scarsdale Westchester New York

7 Old Tavern Road Orange New Haven Connecticut

30 Oak Street Stamford Fairfield Connecticut

300 Centerville Rd Warwick Kent County Rhode Island

At December 31, 2022, five branch buildings were owned and four branch facilities were leased.

Additionally, the Bank maintains certain operating and administrative service facilities and additional parking at its main branch banking office, which are subject to eleven non-cancelable operating lease agreements.

Patriot’s lease agreements have terms ranging from one year to fifteen years with nine years and seven months remaining on the longest lease term.

Generally, Patriot’s lease agreements contain rent escalation clauses, and renewals for one or more periods at the Bank’s option.

As of December 31, 2022, the Bank has excess space that it leases to four unrelated parties.

5 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties