RALEIGH, NC - Paragon Commercial Bank, the first business-only bank in North Carolina, has named Thomas B. Oxholm of Raleigh to its board of directors.

Oxholm is vice president of Wake Stone Corp. in Knightdale, which owns and operates four granite quarries in eastern North Carolina. Oxholm's responsibilities include human resources, real estate development and finances.

An active member of the community, Oxholm serves on the WakeMed Foundation board and has spent more than 25 years as a Sunday school leader. He recently finished a four-year term on the Wake Co. Board of Education where he served as Finance Committee chair all four years. Raised in the suburbs of Philadelphia, Oxholm graduated from UNC-Chapel Hill in 1976.

"Tom is a strong addition to our board," said Bob Hatley, president and CEO of Paragon Commercial Bank. "His experience in financial, tax and long-range planning will be a valuable asset to us. He will fit in well to our committed, knowledgeable and focused board."

Oxholm joins Paragon's board members Howard Jung, Curtis Brewer, Roy Harmon, Robert Hatley, Tony L. Howell, Steven Knier, Larry Kelly, John N. Miller, Billie Redmond and Alton Russell.

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 Commercial Bank can be found on the web at www.paragoncommercial.com.