RALEIGH, NC - Paragon Commercial Bank, the first business-only bank in North Carolina, has formed a strategic partnership with Triangle Securities, LLC to provide wealth management services for the bank's private banking division.

"This is not only a good business decision for each of us but it also will serve our clients well," said Bob Hatley, president and CEO of Paragon Commercial Bank. "We are a natural fit."

Paul Reynolds, founder and managing director of Triangle Securities, said that the core values and the cultures of both companies are very similar. "First and foremost, both firms are committed to serving our clients by providing them with the highest possible level of service in a relationship based on trust," Reynolds explained.

Paragon's private banking division will be strengthened as a result of the alliance, said John Towles, the division's client development officer. "More than ever before, we can create a banking relationship tailored specifically and exclusively for each client's needs," he said.

Triangle Securities is a privately owned wealth management firm headquartered in Raleigh. The firm was established in 2000 and manages approximately $400 million in assets for high net worth individuals. The principals and officers of Triangle Securities have over 100 combined years of experience in the financial services industry with both regional and national firms.

Paragon Commercial Bank, which opened in May 1999, provides banking products and services tailored to meet the needs of small to medium-size companies with revenues from $5 million to $25 million, including commercial real estate companies, residential construction firms and professional service firms, particularly attorneys, health care providers and accountants.

Paragon Commercial Bank is headquartered in Glenwood Plaza, 3605 Glenwood Ave., Suite 100, Raleigh, NC 27612. Paragon can be found on the web at www.paragoncommercial.com.