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Paragon Celebrates Three Years in Business, $300MM in Assets

01-23-08

Paragon National Bank marked its third anniversary January 19, and to honor the occasion, employees designed and created an array of unique birthday cards for the bank. Because the anniversary fell on a weekend, the festivities were held Friday, January 18 at all the branches, offering customers birthday cake to celebrate.

Since opening the doors at Paragon Place on January 19, 2005, the bank has grown steadily, expanding to four Memphis-area branches, with a fifth slated to open later this year. The newest location, Paragon’s Grove Park Banking Center, under construction at 4515 Poplar Ave., will occupy the ground floor of a five-story office building near Oak Court Mall.

In addition to the third anniversary, Paragon also marked a financial milestone, celebrating the acquisition of more than $300 million in assets in just three years.

“The idea of providing a local, customer-focused, community bank has proven to be a good one,” said Robert Shaw, President  and CEO of Paragon National Bank. “We remain committed to that idea—serving our customers and our community.”

“This anniversary, as well as the steady financial growth we’ve experienced in three short years, are both a testament to our team of employees who are the heart and soul of what we do,” he said. “Without them, Paragon would be just another bank.”

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 and has been recognized as a “Best Place to Work” for the last two years by the Memphis Business Journal, something no other company has done.

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