Paragon Bank Expands Its Raleigh Headquarters To Accommodate Continued Growth

Local Bank Adds Eight Offices, New Conference Room And Lounge Area At Glenwood Avenue Location

2013-03-08

RALEIGH, NC, March 08, 2013 (Press-News.org) Paragon Bank (http://www.paragoncommercial.com) has announced that the bank has expanded its Raleigh headquarters, located at 3535 Glenwood Ave., by converting storage space into eight offices, an additional conference room and a recreational lounge area that includes a pool table, foosball table and ping pong table. The Raleigh office now totals 40,000 total square feet in space used by the bank.

The office expansion in Raleigh comes on the heels of Paragon's recent announcement that it would relocate its Charlotte operations to a new, larger office space. The 16,427 square foot office building is located off Morrison Boulevard in the SouthPark community. The move will allow for future planned growth within the bank's Charlotte division. Paragon executives intend the new facility to add convenience for its existing commercial and private banking clients. Paragon has operated in Charlotte since 2006.

QUOTES:
"The Raleigh office expansion is a wonderful opportunity to create a bigger and better workplace for our team," said Bob Hatley, Paragon president and CEO. "We wanted to create an environment where our employees could relax and recharge during their down time. We think this kind of an environment contributes to our employees' ability to serve our clients well. The new office in Charlotte and the additional space in Raleigh is a positive sign of things to come for Paragon and we are excited for the future."

ABOUT PARAGON BANK:
Founded in Raleigh, N.C., in 1999, Paragon Bank provides banking products and services tailored exclusively to the needs of middle-market companies with revenues from $2 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

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