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.