The core of the search query, "Patriots' Day bank holiday," functions as a compound noun phrase. In this construction, "Patriots' Day" is a proper noun acting as an adjective that modifies the compound noun "bank holiday." This phrase refers to a specific legal public holiday and its status within the financial sector. Patriots' Day is a bank holiday, but its observance is limited to the state level and is not recognized federally.
Patriots' Day is an official state holiday in Massachusetts and Maine, observed on the third Monday of April. It is also a public school holiday in Wisconsin. Because it is not a federal holiday, federal entities, including the Federal Reserve System, remain open. Consequently, whether a specific bank closes depends on its location and charter. State-chartered banks and many commercial banks located within Massachusetts and Maine typically close in observance. However, federally-chartered national banks operating in those states may choose to remain open, leading to regional inconsistencies not seen with federal holidays.
In practical terms, individuals and businesses in Massachusetts and Maine should confirm the operating hours of their specific financial institutions in advance of the holiday. Outside of these states, Patriots' Day is not a recognized holiday, and banks and other businesses operate on a normal schedule. This geographic limitation is the key distinction between a state holiday like Patriots' Day and a federal holiday, which mandates the closure of all federal banks and is observed by the entire U.S. financial industry.
