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

Blackmon, who lives in Richmond, and has been active in the local United Way and Habitat for Humanity, has 18 years of banking experience including the last 12 in Richmond. Most recently he was Vice President of the Real Estate Banking Group at Wachovia.

“Paragon is a first-class organization, that is well poised to serve a strong niche market of business only clients and principals,” Blackmon said. “Big is not better. Better is being in a position to deliver to the client in a meaningful and efficient manner.”

He will focus on helping to develop a sound client base for the Richmond office by focusing on attracting and delivering financial products and solutions to quality residential developers and homebuilders.

Clients can expect proactive and timely response to requests backed by a high level of client service, he said.

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.

“We are excited about adding someone with Arnold’s experience and commitment to the clients,”  Keck said. “He is a great addition to the talented team we are assembling. Local businesses can expect a lot more attention than they’ve been getting from the larger banks.”

Hatley said that he is impressed with the team that the new Richmond office is putting together. “Arnold is someone who shares our commitment to strong customer service,” he said. “We have been built on serving the individual needs of our clients.”

A 1987 graduate of The Citadel in Charleston, S.C., Blackmon is married and has three children.

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.