Paramount Bank to merge with troubled Detroit affiliate

Edwards, John G.
December 2008
Las Vegas Business Press (10712186);12/15/2008, Vol. 25 Issue 50, pP18
The article reports on the decision of Paramount Bank of Nevada to merge with an affiliated bank in Farmington Hills, Michigan. The bank proposed a merger with a similarly named bank. Paul Kadavy, chief executive of Paramount Bank of Nevada, is designed to help the Michigan bank to address its undercapitalization. It relates why the Michigan bank suffered a loss of $9.1 million in the first nine months of 2008.


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