Peyton Reed Patterson, now former CEO of Bankwell, apparently doesn’t like to pay taxes. On Thursday the regional bank announced Ms. Patterson was quitting as CEO for personal reasons. This is two months after Matt Pilon of the Hartford Business Journal exposed the multi-millionaire banker for being a deadbeat with her creditors. In fact these creditors have secured court judgments against her for over $400k. This included contractors for her new McMansion in New Canaan, country club bills, and back real estate taxes owed to Madison, Conn.
What hasn’t been reported yet is Peyton Patterson also doesn’t like to pay taxes to New Canaan. A town records search shows New Canaan filed a tax lien on June 5th, 2014 against the banker for $36,146.63 and the tax assessor office shows she still hasn’t paid this year’s taxes. In fact, since she moved to town in mid 2012 she hasn’t really been timely in paying any taxes on her $4.2 million home at 112 Clearview Lane.
Peyton garnered years of glowing press from local and national media on her track record of buying and selling banks or raising money to bring them public. She’s a dealmaker kind of CEO who reportedly made over $16 million in 2011 on a deal she did with New Haven’s NewAlliance Bancshares. So how does this divorced single mom, who is clearly a double-digit million now, not have the cash to pay her damn taxes? She won’t answer reporter questions so maybe someone close to her will speak up and share what in the world is going on. As a CEO of a public company (well now a once CEO of Bankwell) shareholders have a right know why the leader of their bank, who is in charge of money, can’t seem to manager her own finances.
In April 2012 it appears she look $1.2 million from the NewAlliance deal payday and made a down payment on a huge 8,000ish square foot McMansion in ultra rich New Canaan, Conn. Town records show she then borrowed $3 million from Bank of America to fund the rest of the home purchase. So it’s not like she used up a bunch cash to buy a $4.2 million house out right. Which brings us back to question of why she’d risk her stellar reputation as a smart female CEO banker to not pay trade workers or pay taxes that fund schools and roads in the towns she lives in.
Something doesn’t add up. Is Payton a closet ultra Libertarian and doesn’t believe in paying any taxes? I would love to hear local residents or people who know Peyton and tell us what you think is going on.
I liked your article on Peyton Patterson.
Was wondering if you dug up any more information on her. Both her house in New Canaan and Madison are up for sale.
How could a successful bank executive get herself in such a situation? Spending addiction? Was she doing anything shady at work? Was wondering if her former Company did an internal investigation after she stepped down.
Anyway, I hope you do a follow up report….