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Paragon News





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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2016 1st Quarter Shareholder Letter

Published on May 06, 2016

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.    

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Paragon Bank Hosting Art from Madonna Learning Center Students

Published on May 05, 2016

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. 

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Paragon Employees Volunteer with Habitat for Humanity DeKalb County

Published on April 26, 2016

Paragon Bank’s Small Business Capital Group employee’s recently spent a day using some of their ACTS (Assisting the Community Through Service) time volunteering with Habitat for Humanity of DeKalb County. The team volunteered with the organization’s “A Brush of Kindness” program which focuses on repairs, yard work and maintenance for elderly or handicapped homeowners.

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Paragon Hosts Westminster Academy Student Art

Published on March 07, 2016

Paragon Bank is currently displaying artwork from Westminster Academy students in its Saddle Creek Banking Center (7600 Poplar Avenue). Paragon worked with Westminster Art Teacher Jocelyn Collins to coordinate the exhibit, which will be on display until March 31. 

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Paragon Announces Highest Quarterly, Annual Revenue in Record-Breaking 2015

Published on February 19, 2016

Paragon Bank today reported record breaking revenue numbers for both the final quarter of the year and overall annual revenue for 2015. These numbers were met with a 14.2 percent increase in gross loans, a 111.7 percent increase in noninterest income and a 55 percent decrease in nonperforming assets. Additionally, the Small Business Capital Group, based in Atlanta, closed $40.5 million in loans during its first full year in operation.

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