Monarch Financial Holdings Declares Common Stock Dividend and Dividend on Preferred Stock
July 19 2012 - 9:30AM
Monarch Financial Holdings, Inc. (Nasdaq:MNRK), the holding company
for Monarch Bank, announced that its Board of Directors on July 18,
2012, declared a quarterly common stock dividend, payable on August
31, 2012 to shareholders of record on August 10, 2012. The Board of
Directors also declared a regular quarterly cash dividend of
$0.4875 per share on its 7.80% Series B Noncumulative Convertible
Preferred Stock. The dividend is payable on September 30, 2012 to
shareholders of record on September 1, 2012. The amount and
declaration of future cash dividends are subject to Board of
Director's approval in addition to regulatory restrictions.
Monarch Financial Holdings, Inc. is the one-bank holding company
for Monarch Bank. Monarch Bank is a community bank with ten banking
offices in Chesapeake, Virginia Beach, Norfolk, and Suffolk,
Virginia. OBX Bank, a division of Monarch Bank, operates
offices in Kitty Hawk and Nags Head, North Carolina. Services
are also provided through over fifty ATMs located in the South
Hampton Roads area and the Outer Banks of North
Carolina. Monarch Mortgage and our affiliated mortgage
companies have over twenty offices with locations in Virginia,
North Carolina, Maryland, and South Carolina. Our
subsidiaries/ divisions include Monarch Bank, OBX Bank, Monarch
Mortgage (secondary mortgage origination), OBX Bank Mortgage
(secondary mortgage origination), Coastal Home Mortgage, LLC
(secondary mortgage origination), Regional Home Mortgage, LLC
(secondary mortgage origination), Monarch Home Funding, LLC
(secondary mortgage origination), Monarch Investments (investment
and insurance solutions), Real Estate Security Agency, LLC (title
agency) and Monarch Capital, LLC (commercial mortgage
brokerage). The shares of common stock of Monarch Financial
Holdings, Inc. are publicly traded on the Nasdaq Capital Market
under the symbol "MNRK", and shares of our convertible preferred
stock are publicly traded on the Nasdaq Capital Market under the
symbol "MNRKP".
This press release may contain "forward-looking statements,"
within the meaning of federal securities laws that involve
significant risks and uncertainties. Statements herein are based on
certain assumptions and analyses by the Company and are factors it
believes are appropriate in the circumstances. Actual results could
differ materially from those contained in or implied by such
statements for a variety of reasons including, but not limited to:
changes in interest rates; changes in accounting principles,
policies, or guidelines; significant changes in the economic
scenario: significant changes in regulatory requirements; and
significant changes in securities markets. Consequently, all
forward-looking statements made herein are qualified by these
cautionary statements and the cautionary language in the Company's
most recent Form 10-K and 10-Q reports and other documents filed
with the Securities and Exchange Commission. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
CONTACT: Brad E. Schwartz
(757) 389-5111
www.monarchbank.com
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