Paragon News

Paragon Converts to State Charter Effective May 1, 2014

Published on May 01, 2014

Paragon Bank has dissolved its national charter and converted to a state charter effective May 1, 2014. The shift to a state charter will have no effect on customers of the bank or day-to-day operations. Additionally, Paragon has formed a holding company entitled Paragon Financial Solutions, which now owns the bank and is regulated by the Federal Reserve. This holding company has one initial investment, Paragon Bank, and the same board members as Paragon Bank.

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State Charter

Paragon Not Susceptible to "Heartbleed" Vulnerability

Published on April 11, 2014

It has recently come to light that an online security vulnerability known as “Heartbleed” could have exposed the personal information and passwords associated with many major websites. We have tested our systems, and the usernames and passwords used at our websites were NOT affected by “Heartbleed" in any way.

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Director's Corner: J. T. Novarese

Published on April 09, 2014

When asking J.T. Novarese what he does, one might expect him to answer with one of the many items from his diverse and impressive resume as an executive, an entrepreneur, and a venture-capital investor.  Instead, J.T. responds, “Out of all the things I’ve been involved with, when people ask me what I do, I say “I’m a dad. Being a dad is the coolest job I’ve ever had. It’s what I’d liked to be defined as.” From the start of his professional career to his present endeavors, it is evident that J.T.’s focus on family and the important things in life continue to be his driving force.

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The Shield  March 2014

Paragon Showcases St. Louis Student Artwork in Saddle Creek Banking Center

Published on April 03, 2014

Paragon National Bank is currently showcasing artwork by students from St. Louis Catholic School for the public to preview at its Saddle Creek location (7600 Poplar Avenue) until April 30. The bank worked with the school’s art teacher, Robin Durden, to select and display artwork by 11 third grade students and ten junior high students. St. Louis is the seventh local school art exhibit that Paragon has hosted during the 2013-2014 school year.

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Saddle Creek  Art

Paragon Applying for State Charter; Establishing Holding Company

Published on February 24, 2014

Paragon National Bank today filed an application for admittance and business plan with the Tennessee Department of Financial Institutions (TDFI). In addition to this filing, Paragon has mailed proxy materials to its shareholders to vote on the issue during a special meeting on April 16. If approved by TDFI, the Federal Reserve and Paragon shareholders, the Bank will dissolve its national charter and convert to the state charter on April 30. The change to the state charter will have no effect on customers of the bank or day-to-day bank operations.

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Letter to Our Shareholders

Published on February 18, 2014

We are pleased to report an increase of approximately 61% in pre-tax earnings for 2013, which demonstrates continued progress, especially in light of the challenging economic environment.  The fourth quarter of 2013 marked Paragon’s twelfth consecutive quarter of profitability and the end of the third full year of profitability.  

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Shareholder Letter

Paragon Showcases Farmington Elementary Student Artwork

Published on January 08, 2014

Paragon National Bank is currently displaying artwork by students at Farmington Elementary School in its Saddle Creek banking center (7600 Poplar Avenue) throughout January. Located in Germantown, Farmington Elementary School serves students in kindergarten through fifth grade and is the bank’s fourth student art installation during the 2013-2014 school year.

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Saddle Creek  Art

Paragon Reports Most Profitable Quarter in Bank History

Published on December 20, 2013

Paragon National Bank has reported that the third quarter of 2013 was the most profitable quarter in the bank’s nearly eight-year history and marked its eleventh consecutive quarter of profitability. This sustained success was a direct result of the bank’s improved asset quality, growth in the balance sheet, improved net margin and a reduction in expenses.

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Paragon Showcases Evangelical Christian School Student Artwork

Published on November 04, 2013

Paragon National Bank is currently displaying several art pieces from students at the Evangelical Christian School (ECS) Forest Hill campus. The artwork will be featured in Paragon’s Saddle Creek banking center (7600 Poplar Avenue) throughout the month of November. With locations in Germantown, Cordova and Memphis, ECS serves students in kindergarten through twelfth grade and is the third student art installation Paragon has hosted during the 2013-2014 school year.

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Saddle Creek  Art

Paragon Employees Deliver Homemade Blankets to Patients at Le Bonheur

Published on November 01, 2013

Paragon National Bank employees recently delivered 12 homemade blankets to patients staying at Le Bonheur Children’s Hospital.  Bank employees made the no-sew blankets during Employee Appreciation Week through Paragon’s Assisting the Community Through Service (ACTS) program. The ACTS program allows each employee a week of paid time off per year to support the local, regional and national nonprofit organizations of their choosing.

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Le Bonheur  ACTS (Assisting the Community Through Service)

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