Paragon Bank is celebrating its 10-year anniversary in 2015, with numerous events in and around Memphis. The bank has designated 10 specific events as part of its yearlong #10for10 campaign, in honor of the anniversary and its tremendous impact on the community.
“We are proud of our sustained growth and numerous achievements over the past decade, and all the credit goes to the relationships built with our loyal clients and community partners,” said Robert Shaw, Chief Executive Officer at Paragon Bank. “Our employees and board members are looking forward to celebrating the past 10 years as well as anticipating an even brighter decade ahead of us.”
Paragon is a full-service community bank providing a variety of financial solutions to fit its customers’ individual needs. This consists of an assortment of deposit products, including checking, NOW, savings and money market accounts, as well as certificates of deposit and IRAs. Paragon also offers a wide range of loans to customers. Business loan products include working capital lines of credit, SBA, asset-based, floor plan, construction and development, equipment financing and real estate loans. Additionally, Paragon offers a large selection of consumer loans, such as mortgage and home equity.
Involvement with the local community is an essential part of being a community bank. The founders of Paragon knew this when they included “being actively engaged in our communities” as part of the bank’s original mission. Giving back to the community is ingrained in the company’s culture. Throughout its 10-year history, Paragon and its employees have reinvested in the community through monetary donations, volunteer work, as well as serving on boards and committees of local nonprofit groups, service clubs, Chambers and charitable organizations. Paragon has encouraged its employees to be active in the community through the bank‐sponsored Assisting the Community Through Service (ACTS) program, the Community Support Account, and through regular donation and sponsorship opportunities.
Through ACTS, each employee is granted 40 hours of paid time to support local, regional and national nonprofit organizations of his or her choosing. In 2014, Paragon employees spent more than 600 hours volunteering in the community through the ACTS program to support Agricenter International, Books from Birth, Boy Scouts of America, Emmanuel Center, Hawkins Mill Elementary, Iris Orchestra, Israel Festival, Junior Achievement, Junior League of Memphis, Kemmons Wilson Family Center for Good Grief, Le Bonheur Children’s Hospital, Lifeblood, Madonna Learning Center, Make‐A‐Wish Foundation of the Mid‐South, Memphis Child Advocacy Center, Memphis Symphony Orchestra, Memphis Union Mission, Mid‐South Food Bank, Neighborhood Christian Center, Orpheum Theatre, Pink Palace, Ronald McDonald House, Salvation Army, Shelby Farms Park Conservancy, St. Agnes Academy, St. Jude Children’s Research Hospital, Tennessee Housing Development Agency, tnAchieves, United Housing Inc., United Way of the Mid‐South and Woodland Presbyterian School. The bank began tracking employees’ use of ACTS time in 2008, and since then, the team has contributed more than 3,000 hours to community organizations across the Mid-South.
To commemorate this milestone and thank its loyal customers for helping them make a difference, the company is hosting an open house on Tuesday, March 24 to celebrate Paragon Bank 10 for 10, which has been proclaimed by the City of Memphis. Memphis City and Shelby County representatives will be in attendance to announce the proclamation.
“Being engaged in the community is part of our culture,” said Mike Edwards, President and Chief Operating Officer at Paragon Bank. “While this celebration is taking place on one evening, it serves as a recommitment to our core purpose of providing solutions to our customers and making a difference in the community. This is what will lead us into the next 10 years.”