What Paramount Mortgage does

Paramount Bank (legally Paramount Bond & Mortgage Co., Inc.) is an FDIC-insured community bank headquartered in Hazelwood, Missouri, with a stated history dating to 1970 as an independent mortgage company. The bank operates two complementary product lines: a consumer deposit franchise (Interest Checking at 2.00% APY, Money Market, Personal Savings, and Certificates of Deposit with terms from 6 to 60 months) concentrated in the St. Louis metropolitan area, and a residential mortgage origination business operating across 49 states through licensed mortgage bankers. The product mix spans Conventional, FHA, VA, USDA, and Non-Conforming (Jumbo) home loans, and the bank holds delegated approval authority across government lending programs and NMLS licensing (NMLS #551907).

The bank distributes through a digital-first platform, including a Paramount Bank Mobile app on iOS and Android, a digital mortgage application with online document upload, and a personal financial management tool ("Paramount Bank Budgets"). A single physical branch at Village Square Shopping Center in Hazelwood supports in-person banking, and a network of named mortgage loan officers (including Tyler Frank, Bill Litteken, Greg Triplett, and Scott Schoenberger) drives residential origination nationally. The platform is described as using 128-bit SSL encryption and standard consumer-banking technology; no proprietary AI/ML systems are disclosed.

The business model combines net interest margin on consumer deposits, gain-on-sale economics from mortgage origination and sale to agency and portfolio investors, loan servicing fees, and ancillary deposit account fees. Revenue is not publicly disclosed. The bank claims over 10,000 customers and is privately held by a group of St. Louis investors who acquired the institution in 2017 and combined it with Superior Bank of Hazelwood to form the current entity. Leadership comprises CEO Ken Niemann (a $100M+/year producing originator and LoanNEX co-founder), CFO Jeffrey Joyce, and EVP/General Counsel Tyler Frank. State residential mortgage lending licenses are held in California (#425218), Illinois (#6371), and Texas (#67856).

Name

Paramount Mortgage

Legal name

Paramount Bond & Mortgage Co., Inc.

Website

https://paramountbank.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

Paramount Bank is a privately held, FDIC-insured community bank headquartered in Hazelwood, Missouri, offering consumer deposit products in the St. Louis metro and residential mortgage lending (Conventional, FHA, VA, USDA, Jumbo) across 49 states through licensed mortgage bankers and a digital application platform.

Ownership category

akta.pro rank

Product category

Community Banking and Residential Mortgage Lending

NAICS

Real Estate Credit (522292), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD)

akta.pro secondary industries

Jumbo & Portfolio Wholesale Lending (FSALACAF), Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators) (FSALAFAD)

Keywords

• Mortgage lending
• Personal banking
• Home loans
• Community banking
• Residential mortgages

Headquarters

HQ city

Hazelwood

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income - Mortgage Lending: Paramount Bank originates and services mortgage loans, generating revenue from interest on home loans (purchase mortgages and refinances), including conventional, FHA, VA, USDA, and jumbo/non-conforming loan products. The bank is a HUD approved lender providing Fannie Mae/Freddie Mac agency products and portfolio programs.
2. Net Interest Income - Consumer Deposits: The bank pays interest on deposit accounts (checking, savings, CDs, money market) and earns interest by lending those funds at higher rates, generating net interest margin. Competitive APY rates offered to attract deposits.
3. Deposit Account Fees and Charges: Fees from maintenance charges on accounts below minimum balance thresholds, ATM fees for out-of-network transactions, and other banking service fees.
4. Loan Origination and Processing Fees: Fees charged for originating and processing mortgage loans including origination fees, application fees, and other mortgage-related service charges.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Paramount Mortgage, doing business as Paramount Bank, is a Hazelwood, Missouri-based community bank operating since 1970 that originates residential mortgage loans (Conventional, FHA, VA, and Jumbo/Non-Conforming) and offers consumer deposit products including Interest Checking, Money Market accounts, Personal Savings, and Certificates of Deposit (CDs) to individual consumers in the St. Louis metropolitan area.

Product overview

Paramount Bank (operating as Paramount Mortgage) offers a unified banking and mortgage lending platform consisting of consumer deposit products (Interest Checking, Certificates of Deposit, Money Market, and Personal Savings accounts) and a comprehensive suite of home loan products (Conventional, FHA, VA, and Non-Conforming/Jumbo loans). The company provides both online digital banking services and white-glove mortgage origination services. The platform is supported by best-in-class technology including mobile banking capabilities, enabling clients to bank when and where they want.

Differentiator

Problem solved

Functional benefit

Products and services

• Interest Checking Interest-bearing personal checking account offered to individual consumers, providing everyday checking functionality plus interest earnings on the account balance.
• Certificates of Deposit (CDs) Time deposit (CD) accounts offered to individual consumers seeking a fixed-term, typically fixed-rate savings product from Paramount Bank.
• Money Market account Personal money market deposit account offered to individual consumers, typically providing tiered interest rates with check-writing or debit card access.
• Personal Savings Standard personal savings account for individual consumers, providing a safe deposit vehicle that earns interest at the community bank.
• Conventional Home Loans
• FHA Loans
• VA Loans
• Jumbo / Non-Conforming Loans

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• loanDepot: Large U.S. retail mortgage originator offering conventional, FHA, VA, USDA, and jumbo products through a direct-to-consumer and recapture model. Directly comparable to Paramount's retail mortgage origination franchise.
• PennyMac Financial Services: Large U.S. mortgage originator and servicer with consumer direct, broker direct, and correspondent channels. Comparable in offering the full agency/government product set plus a meaningful MSR book.
• Caliber Home Loans: Direct-to-consumer and retail mortgage lender with a strong servicing portfolio, offering conventional, government, and non-QM products. Comparable in origination profile and government lending focus.
• NewRez: Top-15 U.S. mortgage lender and servicer (formerly Shellpoint/New Penn Financial) with retail, wholesale, and correspondent channels plus a growing servicing portfolio. Comparable across origination and servicing.
• Axos Financial: Online-first bank with a national deposit franchise and residential mortgage operations. Closely comparable in being a small-to-mid FDIC-insured bank pairing a digital deposit platform with a national mortgage business.
• Guaranteed Rate: Mid-to-large U.S. retail mortgage lender with full conventional, FHA, VA, USDA, and jumbo product capability and a digital application platform. Closely comparable in product breadth and target borrower.
• United Wholesale Mortgage: Largest U.S. wholesale mortgage lender that has expanded into retail. Its BrokerBond, Positivity, and UWM Investor offerings define the competitive backdrop for Paramount's correspondent and retail channels.
• Rocket Mortgage: Largest U.S. retail mortgage lender, offering the full agency and government suite (conventional, FHA, VA, USDA, jumbo) with heavy digital investment. Paramount competes with Rocket for the same national retail borrower.

Broad incumbents

• Citizens Financial Group: Mid-size regional bank with a sizeable home mortgage division across the Northeast and Mid-Atlantic. Overlaps with Paramount in mortgage origination, retail deposits, and digital banking, but at substantially greater scale.

Regional players

• First Bank (St. Louis): St. Louis-based community bank with retail, mortgage, and commercial banking. Comparable in community banking franchise in the same metropolitan market, though it does not lend nationally like Paramount.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ParamountbankSTL
• LinkedInlinkedin.com/company/paramountbankstl
• Instagraminstagram.com/paramountbankstl
• Xx.com/Paramount_Mtg

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paramount Mortgage