Abstract: Disclosed herein is a panel system for covering a building wall. The panel system includes at least one panel assembly. Each panel assembly includes a panel having a front panel wall, a side panel wall, and a back mounting flange overhanging the front panel wall. Each panel also includes at least one perimeter extrusion. Each perimeter extrusion includes a panel engaging portion having a panel slot shaped to receive the back mounting flange of the panel, and a connector engaging portion having a connector slot. The panel system also includes at least one connector extrusion for mounting the panel assembly to the building wall. Each connector extrusion includes a connector base mountable to the building wall, and at least one connector flange shaped to fit in the connector slot of the perimeter extrusion.