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Paragon News





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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Paragon Announces Multiple VP Appointments

Published on October 11, 2016

Paragon Bank today announced the promotions of Chondrea Black to First Vice President, Deborah Howell to Senior Bank Accountant and Vice President, and Kathleen Lewis to First Vice President. Black reports to Marshall Talley, Executive Vice President, Howell reports to Tracey Thesmar, Controller and First Vice President, and Lewis reports to Carol McConkey, Senior Vice President of Consumer Banking.

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Paragon Reports Record-Breaking Quarter

Published on August 15, 2016

Paragon Bank today announced that it followed the most profitable quarter in the bank’s more than 10-year history with another record-breaking three-month period. Net income increased more than 29 percent over the first quarter of this year to $541,942. Additionally, revenue has increased 42 percent through the first six months of 2016, compared to the first six months of 2015, while expenses have increased less than 3 percent. The Small Business Capital Group continues to pay substantial returns for Paragon, with revenue from the group increasing $1.4 million, or 281%, over the first six months of 2015.

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2nd Quarter 2016 Shareholder Letter

Published on August 03, 2016

Dear Fellow Shareholder:

The second quarter of 2016 marked another quarter of record profitability for Paragon.  Net income for the second quarter increased more than 29% over the first quarter of this year.  Net income was $541,942 compared to net income of $418,835 during the first quarter and a loss of $88,467 during the second quarter of 2015.  Year-to-date through the first six months of 2016, net income was $960,778 compared to a loss of $241,306 during the first six months of 2015.  Compared to the first six months of 2015, 2016 revenue is up 42% while expenses have increased less than 3%.  As you may recall, the losses in 2015 were related to starting up the Small Business Capital Group, which is now paying substantial returns and is expected to continue those returns in the future.

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Paragon Reports Most Profitable Quarter in Bank History

Published on May 20, 2016

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.

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