Paragon Commercial Corporation, a North Carolina commercial bank with $1.3 billion in assets, filed on Thursday with the SEC to raise up to $29 million in an initial public offering.
The Raleigh, NC-based company was founded in 1999 and booked $43 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol PBNC. Raymond James is the sole bookrunner on the deal. No pricing terms were disclosed.
