Paragon Converts to State Charter Effective May 1, 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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