RALEIGH, NC – Paragon Commercial Bank, the first business-only bank in North Carolina and Virginia, has introduced new Remote Deposit Capture (RDC) technology which allows customers to capture check images at their office locations and transmit deposits to the bank electronically.

“This will eliminate the time, effort and expense of manual deposits,” said Greg Pierce, Senior Vice President of Operations at Paragon. “The process also reduces the time necessary for items to clear. This technology provides our customers with tested and secure transmission.”

Working through the technology of respected industry leader VSoft, Paragon is able to help customers eliminate any geographic or personnel barriers and increases the availability of funds. Employees can simply scan and submit the checks securely through the Internet to the bank for deposit.

“This electronic banking eliminates the hassle of following paper trails,” Pierce said. “It’s all there conveniently in electronic form.”

Check 21 legislation, that went into effect in October 2004, enabled banks to handle more checks electronically in order to make check processing faster and more efficient. In the past, banks had to move original paper checks – by trains, planes and automobiles - from the banks where the checks were deposited to the bank that pays them. Check 21 also contains a number of new protections for consumers including faster fraud detection.

Paragon Commercial Bank, found on the web at www.paragoncommercial.com, opened in May 1999 in Raleigh and currently has more than $475 million in assets.

Paragon provides banking products and services tailored to meet the needs of small to medium-size companies with revenues from $5 million to $50 million including commercial real estate companies, residential construction firms and professional service firms, particularly attorneys, health care providers and accountants. Paragon also provides corporate finance services for firms with annual sales from $5 million to $100 million.