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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 reported that the first quarter of 2016 was the most profitable in the bank’s more than 10-year history. Total revenue increased to $4.2 million, which compares to the previous record of $3.5 million during the fourth quarter of 2015, and is an increase of 19%. Revenue also increased 40.7% from the first quarter of 2015. The improvement in earnings was due in large part to increased loan volume, income from the Paragon Small Business Capital Group and interest recovered on a previously charged off-loan.

Paragon Bank today announced that Steve Bargiacchi, Chief Executive Officer at ProTech Systems Group, has joined its Board of Directors. Bargiacchi’s appointment comes after the recent addition of board members Anita Vaughn and Rudi Scheidt.

Dear Fellow Shareholder:

The first quarter of 2016 was the most profitable quarter in Paragon’s history.    Net income for the quarter was $418,835, which compares to a loss of $152,839 for the first quarter of 2015 and to an income of $269,147 for the fourth quarter of 2015.  For the quarter, return on equity was 4.99% while return on assets was .54%.  The improvement in earnings was caused primarily by income from increased loan volume, income from the Paragon Small Business Capital Group, and interest recovered on a previously charged-off loan.    

During the month of May, Paragon Bank is hosting artwork created by students from the Madonna Learning Center after school program. The display is located at the Saddle Creek Banking Center (7600 Poplar Avenue,) and members of the community are encouraged to stop by. During the month of May, Paragon Bank is hosting artwork created by students from the Madonna Learning Center after school program. The display is located at the Saddle Creek Banking Center (7600 Poplar Avenue,) and members of the community are encouraged to stop by. During the month of May, Paragon Bank is hosting artwork created by students from the Madonna Learning Center after school program. The display is located at the Saddle Creek Banking Center (7600 Poplar Avenue,) and members of the community are encouraged to stop by. 

Paragon Bank announced today that Rudi Scheidt Jr., Chairman of Bridge Capital Asset Funding, and Anita S. Vaughn, former Chief Executive Officer/Administrator at Baptist Memorial Hospital for Women, have joined its Board of Directors.

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