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HARTFORDBUSINESS.COM | APRIL 7, 2025 5 BIZ BRIE FS PHOTO | COSTAR Patriot Bank's Stamford headquarters at 900 Bedford St. CONTRIBUTED PHOTO Spirit Airlines will add new routes at Bradley International Airport. HBJ PHOTO | HARRIET JONES David Salinas at the bud bar in his Hi! People Cannabis Market in Derby. athletics director anticipates executing a high volume of endorse- ment contracts and revenue-sharing agreements for student-athletes, the school said. But first, the pivotal House v. NCAA settlement agreement needs to be finalized, a UConn spokesperson said. The proposed settlement involves the NCAA and Power Five confer- ences paying $2.78 billion in back pay to former Division I student-athletes, along with implementing a reve- nue-sharing model; changing college team roster sizes; and establishing a collegiate name, image and likeness enforcement agency. Judge Claudia Wilken in the Northern District of California gave preliminary approval to the settle- ment on Oct. 7, 2024. The settlement is scheduled for a hearing and final approval on April 7. CT bank CEO resigns as struggling lender seeks to raise $50M A struggling Stamford-based bank that has been exploring a potential merger and other capital-raising options announced that its top execu- tive will resign effective April 15. Patriot National Bancorp Inc.'s CEO David Lowery decided to leave the company to "pursue other opportuni- ties," according to the bank. Lowery joined Patriot Bank in April 2021, and was appointed president and CEO on April 21, 2023. Also, the bank said it plans to raise more than $50 million in a private placement offering to accredited investors. Proceeds will be used to "increase the equity capital and strengthen the balance sheet" of Patriot Bank. In December, Patriot Bank entered into an agreement with the Office of the Comptroller of the Currency to take actions to improve its financial position, including agreeing to submit a strategic plan within 45 days. Spirit Airlines adding routes from Hartford to Detroit, Nashville Spirit Airlines is adding new routes from Bradley International Airport to Detroit and Nashville. The Detroit service will debut June 12 and operate once daily. Flights to Nashville begin Aug. 15 and will operate on Mondays and Fridays. These routes add to Spirit's current services from Bradley, which fly to Fort Lauderdale and Orlando in Florida, and Myrtle Beach in South Carolina. Serial entrepreneur Salinas debuts CT's first cannabis bud bar in Derby Retail cannabis store Hi! People Cannabis Market in Derby has opened the state's first bud bar — a space where customers can examine and smell the different cannabis products on offer. "People are able to look at it under a magnifying glass, they're able to smell it," said general manager Justin Sheridan. Previously, customers relied on ordering from menu choices on a digital screen. Hi! People co-founder and CEO David Salinas likens the bud bar to being able to compare produce at the supermarket, although the buds and edible products remain in plastic containers while they're handled, and security is high. Serial entrepreneur Salinas opened the Derby location in January. He says he's been in negotiations with the state Department of Consumer Protection to get approvals for the bud bar since then. His aim is to cultivate a relaxed, coffee-shop style atmosphere in his retail locations. Salinas is planning other locations for the Hi! People brand. He says Hartford is next, where the company is waiting on a final building permit for a site at 306 Market St., close to the Yard Goats stadium. A store at 1041 State St., in New Haven is planned for the fall. Customized Commercial Financing Made Simple You have a vision for where your business can go, and your business bank should play an active role on that journey. Whether it's a small step or a giant leap forward, our commercial bankers will partner with you to tailor a solution that meets your needs. It's that Simple. Contact Dan or Brendan today. Daniel Bishop F I R S T V I C E P R E S I D E N T C O M M E R C I A L B A N K I N G 4 1 3 . 4 9 3 . 7 5 0 9 Brendan Theroux F I R S T V I C E P R E S I D E N T C O M M E R C I A L B A N K I N G 4 1 3 . 4 9 3 . 8 6 5 9 Learn More Member FDIC bankatpeoples.com/business