Tuesday, April 2, 2013

Paragon Bank names client-development officer for Charlotte

Paragon Bank, a Raleigh-based commercial bank whose only other location is in Charlotte, said it has hired a Charlotte-based client-development officer.

Ryan Borst will manage clients’ banking needs and be responsible for promoting Paragon’s brand, the bank said in a press release.

Paragon is North Carolina’s 23rd-largest bank by deposits, according to the Federal Deposit Insurance Corp. Paragon had $740. 7 million in deposits in the state as of June 30, the latest date for which FDIC market-share data are available.

The state-chartered bank does not have deposits outside of North Carolina, according to the FDIC, and its North Carolina market share is 0.22 percent.

Paragon, which was founded in 1999, provides products and services to businesses and those companies’ executives. It says it specializes in serving middle-market companies with revenues of $5 million to $75 million.

The company expanded to Charlotte in 2006. It’s Charlotte location is at 4725 Piedmont Row Drive.

According to the North Carolina Office of the Commissioner of Banks, Paragon had earnings of $3.9 million in 2012.