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PARAGON FINANCIAL SOLUTIONS, INC.

(PGNN)
Delayed OTC Markets  -  02:24 2022-09-29 pm EDT
9.900 USD   -0.90%
09/12Paragon Financial : Third Quarter Housing Update
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08/12Paragon Financial : FR-Y9SP Parent Only Financials, Small Bank Holding Company
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08/03Paragon Financial : FFIEC 051 Quarterly Call Report
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Paragon Financial : FR-Y9SP Parent Only Financials, Small Bank Holding Company

08/12/2022 | 12:55pm EDT

Last Update: 20220802.080614

Board of Governors of the Federal Reserve System

RSSD ID: 4645324

FR Y-9SP

OMB Number 7100-0128

Approval expires December 31, 2024 Page 1 of 9

Parent Company Only Financial Statements for Small

Holding Companies-FRY-9SP

Report at the close of business as of the last calendar day of June and December

This Report is required by law: Section 5(c) of the Bank Holding

assets of less than $3 billion, except holding companies that meet

Company Act (12 U.S.C. § 1844) and Section 225.5(b) of

certain criteria to file the Consolidated Financial Statement for

Regulation Y (12 C.F.R. § 225.5(b)) and Section 10 of the Home

Holding Companies (FR Y-9C). When such holding companies are

Owners' Loan Act (12 U.S.C. § 1467a(b)).

tiered holding companies, separate reports are also to be filed by

each of the subsidiary holding companies. The Federal Reserve

This report form is to be filed by the parent company of small

may not conduct or sponsor, and an organization (or a person) is

holding companies. For purposes of this report, small holding

not required to respond to, a collection of information unless it dis-

companies are holding companies that have total consolidated

plays a currently valid OMB control number.

NOTE: The Parent Company Only Financial Statements for

Date of Report:

June 30, 2022

Small Holding Companies must be signed and attested by the

Month / Day / Year (BHSP 9999)

Chief Financial Officer (CFO) of the reporting holding company

(or by the individual performing this equivalent function).

I, the undersigned CFO (or equivalent) of the named holding

company, attest that the Parent Company Only Financial

Statements for Small Holding Companies for this report date

have been prepared in conformance with the instructions issued

by the Federal Reserve System and are true and correct to the

best of my knowledge and belief.

PARAGON FINANCIAL SOLUTIONS, INC

Lewis W Perkins III

Printed Name of Chief Financial Officer (or Equivalent) (BHSP C490)

Legal Title of Holding Company (RSSD 9017)

5400 POPLAR AVENUE, SUITE 350

Signature of Chief Financial Officer (or Equivalent) (BHSP H321)

(Mailing Address of the Holding Company) Street / PO Box (RSSD 9110)

08/01/2022

MEMPHIS

TN

38119

Date of Signature (MM/DD/YYYY) (BHSX J196)

City (RSSD 9130)

State (RSSD 9200) Zip Code (RSSD 9220)

Holding companies must maintain in their files a manually signed and attested printout of the data submitted.

Person to whom questions about this report should be directed:

Tracey W Thesmar

Name / Title (BHSX 8901)

For Federal Reserve Bank Use Only

RSSD ID

C.I.S.F.

9013220721

Area Code / Phone Number (BHSX 8902)

9013330721

Area Code / FAX Number (BHSX 9116)

tracey.thesmar@bankparagon.com

E-mail Address of Contact (BHSX 4086)

Is confidential treatment requested for any

0=No

BHSP

.................portion of this report submission?

1=Yes

C447

0

In accordance with the General Instructions for this report (check only one),

1. a letter justifying this request is being provided along

with the report (BHSP KY38) .........................................

2. a letter justifying this request has been provided

separately (BHSP KY38)..............................................

Public reporting burden for this information collection is estimated to vary from 1.5 to 8 hours per response, with an average of 5.4 hours per response, including time to gather and maintain data in the required form and to review instructions and complete the information collection. Comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, may be sent to Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, DC 20551, and to the Office of Management and Budget, Paperwork Reduction Project (7100-0128), Washington, DC 20503.

09/2021

Last Update: 20220802.080614

RSSD ID: 4645324

FR Y-9SP

Page 2 of 9

Chief Executive Officer Contact Information

This information is being requested so the Board can distribute notifications about policy initiatives and other matters directly to the Chief Executive Officers of reporting institutions. Please provide contact information for the Chief Executive Officer of the reporting institution. Enter "none" for the Chief Executive Officer's email address if not available. Chief Executive Officer contact information is for the confidential use of the Board and will not be released to the public.

Chief Executive Officer

Name (BHSP FT42)

Area Code / Phone Number / Extension (BHSP FT43)

E-mail Address (BHSP FT44)

12/2021

Last Update: 20220802.080614

PARAGON FINANCIAL SOLUTIONS, INC

Name of Holding Company

The Income Statement is to be reported on a calendar year-to-date basis in thousands of dollars.

RSSD ID: 4645324

FR Y-9SP

For Federal Reserve Bank Use Only

Page 3 of 9

RSSD ID

C.I.

S.F.

Schedule SI-Income Statement

Dollar Amounts in Thousands

BHSP

Amount

1.

Income from bank subsidiary(ies):

a. Dividends .......................................................................................................................

0508

0

1.a.

b. Other income ..................................................................................................................

2111

0

1.b.

2.

Income from nonbank subsidiary(ies):1

a. Dividends .......................................................................................................................

0523

0

2.a.

b. Other income ..................................................................................................................

0530

0

2.b.

3.

Income from subsidiary holding company(ies):2

a. Dividends .......................................................................................................................

0206

3.a.

b. Other income ..................................................................................................................

1283

3.b.

4.

Other income.......................................................................................................................

0447

0

4.

5.

TOTAL OPERATING INCOME (sum of items 1, 2, 3, and 4) ..........................................................

4000

0

5.

6.

Interest expense ..................................................................................................................

4073

0

6.

7.

Other expenses3 ..................................................................................................................

4093

23

7.

...............................................................8. TOTAL OPERATING EXPENSE (sum of items 6 and 7)

4130

23

8.

9.

a. Income (loss) before change in net unrealized holding gains (losses) on equity securities not held

for trading, applicable income taxes, and discontinued operations (item 5 minus 8).........................

HT69

-23

9.a.

b. Change in net unrealized holding gains (losses) on equity securities not held for trading4.................

HT70

0

9.b.

c. Income (loss) before applicable income taxes, discontinued operations and undistributed income

(sum of items 9.a and 9.b)...................................................................................................

4250

-23

9.c.

10.

Applicable income taxes (benefits) (estimated) (see instructions) ...................................................

4302

-6

10.

11. Discontinued operations, net of applicable income taxes ..............................................................

FT28

0

11.

12.

Income (loss) before undistributed income of subsidiary(ies) (sum of items 9.c and 11 minus 10)..........

0496

-17

12.

13.

Equity in undistributed income (loss) of subsidiary(ies): (see instructions)

a. Bank subsidiary(ies) .........................................................................................................

3156

1423

13.a.

b. Nonbank subsidiary(ies)1 ...................................................................................................

2112

0

13.b.

c. Subsidiary holding company(ies)2 ........................................................................................

3513

13.c.

14.

Net income (loss) (sum of items 12 and 13) ...............................................................................

4340

1406

14.

Memoranda

1.

M.1.

Cash dividends (or non-taxabledistributions) declared by the holding company to its shareholders............

3158

0

2.

Does the reporting holding company have a Subchapter S election in effect for federal income tax

0=No

BHSP

.............................................purposes for the current tax year? (enter "1" for Yes; enter "0" for No)

1=Yes

A530

0

M.2.

3.

Interest expense paid to special-purpose subsidiaries that issued trust preferred securities

BHSP

Amount

(included in item 7 above) ......................................................................................................

C254

0

M.3.

Memorandum item 4 is to be completed by holding companies that have elected to account for financial

instruments or servicing assets and liabilities at fair value under a fair value option.

4.

Net change in fair values of financial instruments accounted for under a fair value option ....................

J980

M.4.

Memorandum item 5 is to be completed by top tier holding companies with the December 31 report date only.

5. Does your holding company have 100 or more full-time equivalent employees on a

consolidated basis?

BHSP

...................................................................................(enter "1" for Yes; leave blank for No)

1=Yes

MZ36

1

M.5.

  1. Leave blank if the reporting holding company does not own a nonbank subsidiary.
  2. Leave blank if the reporting holding company does not own a subsidiary holding company.
  3. Holding companies that have adopted ASU 2016-13 should report provisions for credit losses on all financial assets and off-balance-sheet credit exposures.
  4. Item 9.b is to be completed by all holding companies. See the instructions for this item and the FR Y-9C Glossary entry for "Securities Activities" for further detail on accounting for investments in equity securities.

12/2021

Last Update: 20220802.080614RSSD ID: 4645324

FR Y-9SP

Page 4 of 9

Schedule SC-Balance Sheet

Dollar Amounts in Thousands

BHSP

Amount

Assets

1.

Cash and due from depository institutions:

a. Balances with subsidiary or affiliated depository institutions ........................................................

5993

146

1.a.

b. Balances with unrelated depository institutions.........................................................................

0010

0

1.b.

2.

Securities1 ............................................................................................................................

0390

0

2.

3. Loans and lease financing receivables (exclusive of loans and lease financing receivables due from bank(s) and nonbank subsidiaries):

a. Loans and leases, held for investment and held for sale.....................................

2122

0

3.a.

b. LESS: Allowance for loan and lease losses2 ....................................................

3123

0

3.b.

c. Loans and leases, held for investment and held for sale, net of the allowance for loan and lease

...................................................................................................losses (item 3.a minus 3.b)

2723

0

3.c.

4. Investment in bank subsidiary(ies): (see instructions)

a. Equity investment ...............................................................................................................

3239

47354

4.a.

b. Goodwill............................................................................................................................

3238

0

4.b.

c. Loans and advances to and receivables due from bank subsidiary(ies) ..........................................

3148

0

4.c.

5. Investment in nonbank subsidiary(ies): (see instructions)3

a. Equity investment...............................................................................................................

0088

0

5.a.

b. Goodwill...........................................................................................................................

0087

0

5.b.

c. Loans and advances to and receivables due from nonbank subsidiary(ies) ....................................

0089

0

5.c.

6. Investment in subsidiary holding company(ies) (These items are to be completed only by companies that have subsidiary holding companies.):4

...............................................................................................................a. Equity investment

0201

6.a.

b. Goodwill...........................................................................................................................

0202

6.b.

c. Loans and advances to and receivables due from subsidiary holding company(ies) .........................

3523

6.c.

7.

Other assets5.........................................................................................................................

0027

0

7.

8.

Balances due from related nonbank companies (other than investments)6 ..........................................

3620

0

8.

9.

TOTAL ASSETS (sum of items 1 through 8) .................................................................................

2170

47500

9.

Liabilities and Equity Capital

10.

Short-term borrowings:

..............................................................................................................a. Commercial paper

2309

0

10.a.

b. Other short-term borrowings.................................................................................................

2724

0

10.b.

11.

Long-term borrowings (includes limited-life preferred stock and related surplus) ..................................

3151

0

11.

12.

Accrued interest payable (see instructions) ..................................................................................

3166

0

12.

13.

Other liabilities .......................................................................................................................

3167

0

13.

14.

Balances due to subsidiaries and related institutions:

a. Subsidiary bank(s) .............................................................................................................

3605

23

14.a.

b. Nonbank subsidiaries and related institutions3 ..........................................................................

3621

0

14.b.

15.

Not applicable

16.

Equity capital:

a. Perpetual preferred stock (including related surplus) .................................................................

3283

0

16.a.

b. Common stock (including related surplus) ...............................................................................

3230

39148

16.b.

c. Retained earnings ..............................................................................................................

3247

12507

16.c.

d. Accumulated other comprehensive income7 .............................................................................

B530

-4178

16.d.

e. Other equity capital components8 ..........................................................................................

A130

0

16.e.

f. Total equity capital (sum of items 16.a through 16.e) ..................................................................

3210

47477

16.f.

17.

TOTAL LIABILITIES AND EQUITY CAPITAL (sum of items 10 through 14.b, and 16.f) ..........................

3300

47500

17.

  1. Holding companies that have adopted ASU 2016-13 should report held-to-maturity securities in item 2 net of any applicable allowance for credit losses.
  2. Holding companies that have adopted ASU 2016-13 should report in item 3.b the allowance for credit losses on loans and leases.
  3. Leave blank if the reporting holding company does not own a nonbank subsidiary.
  4. Leave blank if the reporting holding company does not own a subsidiary holding company.
  5. Holding companies that have adopted ASU 2016-13 should report in item 7 amounts net of any applicable allowance for credit losses.
  6. This item should be completed only by lower-tier holding companies. Lower-tier holding companies should leave this item blank if no related nonbank companies exist
  7. Includes net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and minimum pension liability adjustments.

8. Includes treasury stock and unearned Employee Stock Ownership Plan shares.

12/2021

Last Update: 20220802.080614

RSSD ID: 4645324

FR Y-9SP

Page 5 of 9

Schedule SC-Continued

Memoranda (to be completed annually only by top-tier and single-tier holding companies for the

December 31 report date)

1.

Has the holding company engaged in a full-scope independent external audit at any time during the

0=No

BHSP

.......................................................................calendar year? (enter "1" for Yes; enter "0" for No)

1=Yes

C884

M.1.

2.

If response to Memorandum item 1 is yes, indicate below the name and address of the holding company's independent

external auditing firm (see instructions), and the name and e-mail address of the auditing firm's engagement partner.9

M.2.

a.

b.

(1)

Name of External Auditing Firm (TEXT C703)

(1)

Name of Engagement Partner (TEXT C704)

(2)

City (TEXT C708)

(2)

E-mail Address (TEXT C705)

(3)

State Abbreviation (TEXT C714)

(4) Zip Code (TEXT C715)

Dollar Amounts in Thousands

BHSP

Amount

Memoranda items 3.a and 3.b are to be completed by holding companies that have elected to account for finan-

cial instruments or servicing assets and liabilities at fair value under a fair value option.

3. Financial assets and liabilities measured at fair value:

a. Total assets .....................................................................................................................

F819

M.3.a.

b. Total liabilities...................................................................................................................

F820

M.3.b.

9. The Federal Reserve regards information submitted in response to Memorandum item 2.b. as confidential.

12/2021

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Paragon Financial Solutions Inc. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 16:54:00 UTC.


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