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Raising Expectations

Paragon Bank prides itself on offering superior service based on a combination of banking expertise and local knowledge. At Paragon, we believe that local banking is better banking.

At a time when most banks are mere outposts for a huge corporation hundreds of miles away, Paragon is locally owned, locally operated and locally focused. Paragon’s handpicked team of seasoned banking professionals is raising expectations in the Memphis banking market.

Welcome to Paragon, where local banking from locals is more than just a catchy phrase. It's a commitment.

Convenience

At Paragon, customers bank when and where they want.  In addition to Paragon's growing number of full-service locations, there are approximately 170 surcharge-free ATM locations in the Memphis area.  Paragon's ATM network gives customers access to cash all over the world.

Services also include free internet banking, mobile banking, and 24-hour telephone banking (Paragon Direct, 901.333.0260).

Small business customers have several cash management tools available to make their banking more convenient including remote deposit capture (ParaTeller), lockbox, internet banking, and a courier service to pick up deposits.

Products & Services

Paragon offers a wide range of financial options to fit each customer's individual needs. This consists of an assortment of deposit products including checking accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, and IRAs. 

Paragon also offers a wide range of loans to fit each customer's needs. Business loan products include working capital lines of credit, SBA loans, asset-based loans, floor plan loans, construction and development loans, equipment financing, real estate loans, and letters of credit. Paragon also offers a large variety of consumer loans including mortgage loans and home equity loans.  

Paragon News

Paragon Bank today announced another strong quarter with near-record revenue, increasing $128,000 over the second quarter of 2017 to $4.7 million. For the Small Business Administration’s fiscal year ending September 30, 2017, Paragon was the largest SBA lender headquartered in the Memphis Metropolitan Statistical Area.

Paragon had another strong quarter and saw near record revenue during the third quarter, increasing $128 thousand over the second quarter to $4.7 million and only $65 thousand below record revenue during the third quarter of 2016.  Net income for the quarter was approximately $550 thousand.  Net income through nine months is more than 17% higher than last year.  Year-to-date return on equity is 6.63% compared to 6.04% after three quarters of 2016. 

Paragon Bank is displaying artwork from Evangelical Christian School students in its Saddle Creek Banking Center (7600 Poplar Avenue) throughout the month of November. ECS has been part of the Memphis community for more than 50 years, bringing academic excellence and faith-based teaching to pre-K through 12th grade students.

Paragon Bank today announced its 2017 second quarter financial earnings, reporting a net income increase of 15 percent over the second quarter of 2016. During the first six months of 2017, net income increased 33 percent compared to the first six months of 2016. Net interest income for the second quarter of 2017 was a record $3.5 million, which was a 16 percent increase over the second quarter of 2016.

Paragon Bank today announced the promotion of Sanjay Dave as Assistant Vice President, Banking Center Manager and Security. Dave reports to Senior Vice President, Carol McConkey, and Chief Financial Officer, Lewis Perkins.

P.O. Box 2022  |  Memphis, TN  38101-2022 |  Phone: 901.273.2900  |  Fax: 901.273.2908  |  info@bankparagon.com
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