Angelo DeCaro, Former General Partner of Goldman Sachs and Company, Local Prominent Businessman Becomes CEO of Patriot National Bank.STAMFORD Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn.--(BUSINESS WIRE)--June 22, 1999-- Patriot National Bank, a full service commercial bank with assets of $120,000,000 with full service offices in Stamford and Greenwich, Conn., serving Fairfield and Westchester Counties, announced today the appointment of Angelo DeCaro as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Patriot National Bank. After 31 successful years on Wall Street, he retired from investment banking at the end of 1996 from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. . The most recent 18 years of Angelo DeCaro's investment banking career was at Goldman Sachs where he was a general partner. He was responsible for numerous departments, both domestic and international. Angelo was on the Executive Committee of Goldman Sachs Swiss private bank and the Goldman Sachs Trust Company. One of the priorities that the new CEO has set for Patriot National Bank is to work with Keefe, Bruyette & Woods, Inc., whose specialty is small to medium size banks. Angelo's immediate goals and objectives would include: 1. To grow the revenues of Patriot National Bank. 2. One of the avenues which we intend to pursue is to acquire a mortgage bank with the following minimum requirements: a) Five year history of growth in sales and profitability. b) Minimum $150,000,000 in residential mortgage value. c) $50,000,000 pipeline. d) Multi-State franchise. e) Prestigious and impeccable im·pec·ca·ble adj. 1. Having no flaws; perfect. See Synonyms at perfect. 2. Incapable of sin or wrongdoing. [Latin impecc reputation. 3. Another vehicle which Patriot National Bank is exploring is the development or acquisition of a trust business in the lucrative Fairfield and Westchester County Markets. Angelo DeCaro is currently the largest shareholder of the bank, owning slightly less than 10% of the outstanding shares of Patriot National Bank. Angelo DeCaro is chairman of the Executive Committee of the bank and co-chairman of the Asset & Liability Committee. This release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Such risks and uncertainties may include rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the company is conducting its operation, including the real estate market in the Tri-State (Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey) area and other factors beyond the company's control. Such risks and uncertainties could cause results for subsequent interim periods for the entire year to differ materially from those indicated. For a discussion of factors that could cause results to differ, please see the company's reports on Forms 10-K and 10-Q as filed with the Securities and Exchange Commission and the company's press release. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
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