News: Financial Digest
Posted: September 13, 2012
John Patrick 2012
Name: John Patrick
Title: Chairman, Conn. Bankers Association (effective mid October)
Company: Farmington Bank
Location: 32 Main St., Farmington, Conn. 06032
Place of birth and year: Hartford, Conn. - 1958
Family: Wife, Pamela; children, Sarah, John, Emily
College: Central Ct. State Univ. - BS in Business
First job in finance or allied field: Lock box clerk - Ct. Bank & Trust
What do you do now and what are you planning for the future: Continue to get the message out that banks are here to help; provide training & navigate through this economic environment. Also provide economic vitality to the banks we serve.
Hobbies: Time with family, golf, ski
Favorite book: "Rapid Realignment" by George Labovitz
Person you most emulate (outside of family): Bill Ryan (CEO of Bank North Group)
Key to success (one idea): Don't take yourself too seriously; have fun at what you do
If you were forced to choose another vocation what would it be?: Charter boat captain
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Quick Hits
Columns and Thought Leadership
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.