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Paragon News



2017 3rd Quarter Shareholder Letter

Published on November 07, 2017

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. 

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Paragon Partners with ECS to Display Student Artwork

Published on October 25, 2017

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.

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Paragon Reports Improved Earnings, Record-Breaking Net Interest Income in Second Quarter

Published on August 17, 2017

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.

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Paragon Grants 13th Wish for Make-A-Wish Mid-South

Published on May 24, 2017

Paragon Bank worked with Make-A-Wish Mid-South to grant three-year-old Layken her wish of going to Walt Disney World. This is the 13th straight year Paragon has worked with Make-A-Wish Mid-South to grant the wish of a local child or teen. The ceremony took place May 23. 

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Paragon Reports Continued Profit Improvement in First Quarter

Published on May 22, 2017

Paragon Bank today announced its 2017 first quarter financial earnings, reporting a net income of $657,513, an increase of 14.3 percent over the fourth quarter of 2016 and a 57 percent increase over the first quarter of 2016. These results come after the recent opening of the bank’s Oxford Loan Production Office, as well as record-breaking income and loan production volumes in 2016.

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1st Quarter 2017 Shareholder Letter

Published on May 03, 2017

We are pleased with the start of a new year where net income for the first quarter of 2017 was $657,513, which was an increase of 14.3% over the fourth quarter of 2016 and an increase of 57% over the first quarter of 2016.   For the quarter, return on assets was .76% while return on equity was 7.41%. 

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Paragon Expands Memphis Team with Holcomb, Wellford

Published on March 24, 2017

Paragon Bank has appointed Thom Holcomb as Infrastructure Administrator and Crews Wellford as Mortgage Consultant. Holcomb reports to Troy Wheetley, First Vice President of Information Technology, and Wellford reports to Carol McConkey, Senior Vice President of Consumer Banking.

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Paragon Sets Financial Records for Fourth Quarter, Overall in 2016

Published on February 23, 2017

Paragon Bank today announced its 2016 financial results, reporting record-breaking numbers in the fourth quarter of 2016, as well as overall for 2016. Net income increased to $2,135,372 in 2016, compared to $91,023 in 2015. Additionally, the bank celebrated 90 percent employee participation in its Assisting the Community Through Service (ACTS) program.

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Paragon Bank: A Decade of Art Exhibits

Published on January 06, 2017

Paragon Bank is displaying art created by Farmington Elementary School students during the month of January. The work is featured at the Saddle Creek Banking Center (7600 Poplar Avenue), and members of the community are encouraged to stop by.

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3rd Quarter 2016 Shareholder Letter

Published on November 09, 2016

Dear Fellow Shareholder:

The third quarter was Paragon’s third consecutive quarter of record-breaking profitability.  Net income increased 10.6% to $599 thousand for the third quarter compared to $542 thousand during the second quarter of this year.  Net income for the third quarter was significantly higher than the third quarter of 2015 when we were starting the Small Business Capital Group.  Year-to-date net income through September 30, 2016, is $1.6 million compared to a loss of $178 thousand through the first nine months of 2015. 

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Paragon Expands Memphis Team with Three New Hires

Published on November 07, 2016

Paragon Bank has appointed Lea Carr as Assistant Vice President, Private Banking, John Christy as Vice President, Commercial Lending and Nancy Walls as Assistant Vice President and Community Development Officer. Carr reports to Wayne Littleton, Senior Vice President and Manager, Private Banking; Christy reports to Gordin McMurty, Senior Vice President, Commercial Lending; and Walls reports to Robert Shaw, Chief Executive Officer.

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