RALEIGH, NC - Paragon Commercial Bank recently named John S. Towles, Senior Vice President/Client Development Officer.

Towles has a Bachelor of Science in Finance from Appalachian State University. He also became a Certified Financial Planner in February 2003. Towles has been in Banking for over 17 years, all of which have been in Wake, Durham and Orange Counties with Wachovia Bank. He most recently served as Relationship Manager in the Wealth Management Group. His primary focuses in that position included production of credit, deposit, investment, insurance and planning for over 100 private banking clients. With an extensive track record of business success, Towles has the business development skills that are customary for the Paragon Commercial Bank environment.

"We are excited to have an account officer with John's private banking experience," stated Bob Hatley, President and CEO of Paragon Commercial Bank. "John has had a strong following in Wake County - particularly with professionals that have a significant net worth. John has an exceptional reputation in Wake County as someone who can provide exceptional financial planning."

In addition to generating deposits and loan services, Towles will be offering other services such as Cash Management, Treasury Management, Accounts Receivable Financing, Commercial Leasing, Commercial Insurance and Corporate Investment Banking.

Towles and his wife Kim live in Raleigh. His outside interests include boating, skiing, sports and spending time with his family. Towles is active in the Wake County community. Organizations he has been involved with include American Red Cross, Triangle United Way, Friends of the Canes and the Greater Raleigh Chamber of Commerce.

Paragon Commercial Bank, which opened in May 1999, is the first business-only bank in North Carolina. As of April 9, 2003, Paragon had $215 million in total assets. Paragon provides banking products and services tailored to meet the needs of small to medium-sized companies with revenues from $3-25 million, commercial real estate companies, residential construction firms and professional service firms including attorneys, health care providers and accountants.