RALEIGH, NC – Paragon Commercial Bank, the first business-only bank in Virginia, has hired John Powell as Senior Vice President, Client Development Officer.

Powell, a graduate of Virginia Commonwealth University, has 15 years of banking experience including the last five in Richmond where he worked for BB&T and SouthTrust Bank.

His focus is on commercial and industrial lending. He will evaluate each company’s needs and custom design the structure of loans. With bigger banks, it usually takes two to three weeks for them to get back to tell whether or not they can do the loan. Paragon clients know the answer within a week.

“My clients can expect superior service, immediate and quick responses, and knowledgeable banking advice,” Powell said. “Simplicity is my banking philosophy. Make it simple for clients so they can concentrate on running their businesses more efficiently.”

Veteran Richmond banker Michael E. Keck is president of the Richmond-based bank while Bob Hatley is CEO of the Raleigh, N.C.-based headquarters.

“Our clients will enjoy working with John and I’m confident he will quickly earn their trust,” Keck said. “He is certainly the kind of experienced, customer friendly person we like to have on our team. Local businesses can expect a lot more attention than they’ve been getting from the larger banks.”

Hatley said that the Richmond office is proving to be a good launch for the bank which plans to eventually grow throughout the southeast. “John is another great addition to the talented team assembled in Richmond,” he said. “Everyone we’ve hired has the same dedication to superior, customized customer service.”

An active member of the local American Heart Association board, Powell and his wife, Laura, have been married for 16 years and have two children – Claire, 6, and Graham, 3.

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.