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Michael L. Story of Raleigh has been promoted to executive vice president and chief operating officer of Paragon Commercial Bank, the first business-only bank in North Carolina.
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Paragon Commercial Bank, the first business-only bank in North Carolina, is about to become the first business-only bank in Virginia. Veteran Richmond banker Michael E. Keck has been named president of the new venture, which will be based in Richmond.
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Triangle Business Journal has named Paragon Commercial Bank one of the top 10 small companies to work for in the Triangle, in its annual Best Places to Work Awards program. The award recognizes the company’s achievements in creating a positive work environment that attracts and retains employees through a combination of benefits, working conditions and company culture.
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Paragon Commercial Bank, based in Raleigh, and Symcor, with an office in Charlotte, have joined forces to provide customized electronic “lockbox” services to Paragon clients.
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Steve Crouse of Cary has joined Paragon Commercial Bank, the first business-only bank in North Carolina, as Chief Financial Officer and Senior Vice President.
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Paragon Commercial Bank recently reported record earnings of $899,831 for the first quarter of 2005. This represented a 30% growth over first quarter of 2004 when the company reported $626,040 in earnings. Total assets ended the quarter at $402.5 million, which represented an increase of 26% increase over the same period in 2004.
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Charles Cleary of Chapel Hill has joined Paragon Commercial Bank, the first business-only bank in North Carolina, as Senior Vice President.
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