Affiliation News

News about our affiliation with TowneBank

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Affiliation News


On Monday, January 29, 2018, Paragon Bank and TowneBank combined their resources, creating a premier southeast regional commercial and private banking company focused on delivering an extraordinary level of client care. The combined companies will serve clients in North Carolina and Virginia with 40 banking offices.

Now that our companies have joined together we will operate as Paragon Bank, a division of TowneBank!

Why is Paragon Bank affiliating with TowneBank?

We believe our combined companies create an even more extraordinary client experience with a wider array of products and services and a larger network of banking offices. There is simply no other bank in the United States more closely aligned with our core values, principles, culture, and private banking approach to client care.

Our affiliation with TowneBank enables Paragon to do more for clients.

  • We can handle larger loan requests and deposit relationships.
  • We can better meet the growing technology needs clients want to access accounts.
  • Clients have access to 6 additional locations along the coast of North Carolina and 31 locations in Virginia, in addition to our existing 3 offices.
  • We can offer wealth, investment, and insurance services.

When did TowneBank and Paragon join together?

Over the weekend of January 26, 2018, Paragon Bank and TowneBank combined their resources.

What will happen to the Paragon Bank name?

We will continue to operate as Paragon Bank, a division of TowneBank, in the Triangle and Charlotte markets.

Will I work with the same bankers?

Yes! You will work with your current bankers before and after our companies combine. Please continue to bank with us as usual.

Are there any changes to my Paragon accounts, checks, debit cards, or loans?

We are pleased to let you know that your bank accounts will continue to enjoy many of the same features and benefits. There are some changes, which are outlined in the Client Information Guide mailed to clients in mid-December and online in the Affiliation News pages of our website.

Has the Paragon leadership team changed?

Bob Hatley continues in his role as President Paragon division, and assumes duties as President of the North Carolina Banking Operation. Matt Davis serves as Executive Vice President and Chief Operating Officer of the North Carolina Bank. Brian Reid continues to serve as the Triangle Market President. Phil Jurney remains the Charlotte Market President.

How do I find out more about the TowneBank and Paragon Bank combination?

You can always visit this web page for current news. To learn more about TowneBank, you can visit their website at TowneBank also trades on Nasdaq under the “TOWN” symbol.

We value every client relationship and believe the combined strength of Paragon and TowneBank will allow us to offer you a wider range of services and more locations with the private banking experience you expect from Paragon Bank.