Paragon National Bank today announced that it was named a winner in the medium-sized company category in the Memphis Business Journal’s 2007 Best Places to Work competition.
This is the second consecutive year that the bank has won this prestigious competition, and the third year it has made finalist status. Paragon competed in the category with four other mid-sized companies and winners were announced at a luncheon on October 19 at the University of Memphis Holiday Inn.
“We’ve worked hard to develop and maintain a culture in which our employees are recognized as our greatest asset,” said Robert Shaw, president of Paragon National Bank. “This honor is testament to the importance of our employees to the success of the bank.”
The Memphis Business Journal’s 2007 Best Places to Work competition has a category each for small, medium and large companies. To compete in the medium-sized category, entrants must have 51 to 150 employees. To determine finalists, the company’s employees must complete an anonymous survey to rank various factors, such as company loyalty and faith in leadership. More than 120 companies from around the area entered, with 14 finalists chosen.
Paragon was launched in 2005 with $23.2 million in capital, a record for de novo banks in the Memphis, Shelby County area. Since its inception, Paragon has experienced rapid growth. Current assets exceed $270 million.