Director Independence and Qualifications

The Company believes that its directors and nominees possess diverse skills, experiences and perspectives that enable the Board of Directors to execute its responsibilities. The Company has posted the Nasdaq Diversity Matrix regarding the Board of Director’s diversity characteristics in the “Investor relations – Overview” page of our website at www.bankpatriot.com.

Nominating and Corporate Governance Committee

In conducting the review of candidates for director, the Nominating and Corporate Governance Committee typically considers age, skills and such other factors as it deems appropriate, given our current needs and the needs of the Board of Directors, to maintain a balance of knowledge, experience and capability. Although the Company has no formal policy regarding diversity, as a matter of practice in its evaluation of candidates, the Nominating and Corporate Governance Committee considers whether the Board of Directors, as a whole, is diverse and includes individuals with various backgrounds, career experience, technical skills, industry knowledge and experience, financial expertise and local or community ties. The Nominating and Corporate Governance Committee also evaluates and makes a recommendation to the Board of Directors regarding whether each candidate is independent pursuant to NASDAQ Listing Rule 5605(a)(2) and under applicable SEC rules and regulations. Generally, potential candidates are identified and suggested by members of the Board of Directors or management using their business networks. The Nominating and Corporate Governance Committee may also engage, if it deems appropriate, a professional search firm or other third-party advisor. The Nominating and Corporate Governance Committee conducts any appropriate inquiries into the backgrounds and qualifications of possible candidates after considering the function and needs of the Board of Directors. The Nominating and Corporate Governance Committee meets to discuss and consider the candidates’ qualifications and then selects a nominee for recommendation to the Board of Directors.