STAMFORD, Conn., May 11, 2017 (GLOBE NEWSWIRE) -- Joseph D. Perillo has been appointed Executive Vice President and Chief Financial Officer of Patriot National Bancorp, Inc. (NASDAQ:PNBK) and Patriot Bank, N.A. Mr. Perillo was brought on by the Board of Directors on January 3, 2017 as a senior executive consultant, tasked with assessing the finance department’s processes and improving operations and internal controls. He has been instrumental in developing multiple earnings improvement strategies, which have already proved beneficial.
He began in public accounting with KPMG and then 20 years in banking with Citibank, NatWest and later as Senior Vice President & Controller for GreenPoint Financial then one of the 50 largest banking companies in the U.S. More recently, he served 12 years as both Chief Accounting Officer and Chief Financial Officer for iQor Inc., a $1.5 billion global leader in business process outsourcing.
“Joe’s deep financial and banking acumen will benefit the institution greatly as Patriot Bank quickly moves up its peer group rankings. Since Joe’s arrival in January, he has become an integral force in the development and execution of our strategies for profit improvement and growth. The impact of his contributions already appear in our first quarters results,” said Mr. Carrazza.
Mr. Perillo’s appointment follows another step in Patriot’s executive leadership rebuilding. In August of 2016, Mr. Carrazza, the bank’s Chairman and veteran private equity operating financier, took over as Interim CEO to lead a process of rapidly improving profitability, productivity, operations and transforming the bank’s management team.
In February the bank promoted Richard A. Muskus, Jr. to become President. He was previously the bank’s EVP & Chief Lending Officer. Prior to that it announced the promotion of other senior managers: Judith Corprew as EVP-Chief Compliance & Risk Officer; Christopher Johnson as SVP–Director of Branch Banking; and Laura Holleran as SVP-Director of Retail Operations & Security Officer. This senior leadership team has contributed greatly to the outstanding financial performance that Patriot Bank has delivered in recent quarters.
Mr. Perillo earned his B.S. in accounting from St. John’s University and is a Certified Public Accountant.