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Paragon Bank

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Paragon Commercial Bank Executes More Than $13.8 Million in Small Business Loans for 2011


Raleigh Small Business Community Receives About $11.8 Million in Loans from Paragon

Raleigh, NC, March 17, 2012 --(PR.com)-- Paragon Commercial Bank (http://www.paragoncommercial.com), North Carolina’s first business-only bank, has announced that the bank completed $13,842,098 in loans to new and renewed accounts for small businesses in the 2011 calendar year. The bank transacted $1,597,000 in loans to nine new accounts and $12,245,098 to 51 existing customers.

In Raleigh, Paragon made a total of $11,776,098 in small business loans, including $1,266,000 to seven new small business accounts in the area and $10,510,098 to 42 existing customers.

In Charlotte, Paragon made a total of $2,066,000 in loans to small businesses, including $331,000 to two new small business accounts and $1,735,000 to nine existing customer relationships.

Paragon Commercial Bank offers financial solutions that are tailored to short-term and long-term borrowing needs of the small- to mid-sized businesses it serves. The bank provides creative terms and conditions meant to help its clients meet their company and personal goals.

Quotes
“We are dedicated to serving the financial needs of all small- to mid-sized businesses,” said Michael Story, Paragon Commercial Bank executive vice president and chief risk officer. “We continue to receive quality comments regarding our creative support and positive customer experience we bring to our markets.”

About Paragon Commercial Bank:
Founded in Raleigh, N.C. in 1999, Paragon Commercial Bank is North Carolina’s first business-only bank. Paragon Commercial Bank provides banking products and services tailored exclusively to the needs of middle-market companies with revenues from $5 million to $75 million, their executives and high net worth individuals. The bank’s business focus includes operating companies in a wide range of categories, professional firms and nonprofit organizations. Headquartered in Raleigh, the bank expanded to open a location in Charlotte, N.C. in 2006. For more information, visit http://www.paragoncommercial.com.

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition.

Jake Potter
MMI Public Relations
(919) 233-6600
jake@mmipublicrelations.com
http://www.twitter.com/MMIPR
http://www.mmipublicrelations.com
Contact Information
Paragon Bank
Patty Briguglio
919-233-6600
Contact

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