Monarch Bank Recognized as a Top Growth Company for 3rd Year in a Row
November 02 2012 - 9:35AM
Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc.
(Nasdaq:MNRK) (Nasdaq:MNRKP), today announced that the company has
again been named to the "The Roaring 20" list, a compilation of the
twenty fastest-growing companies in the Hampton Roads region of
Virginia.
"We are excited to be recognized as a Roaring 20 award winner
three years in a row. We were the only financial institution
recognized in 2012, and we hold the title as the only financial
institution to be recognized three years in a row since the awards
began," stated Brad E. Schwartz, chief executive officer. "We
are proud that we have not only grown in asset size, revenue and by
the number of employees, but we have also shown growth in our
profitability and return to our shareholders over the past three
years."
"The Roaring 20" award honors Hampton Road's most dynamic
businesses based on revenue and employee growth. The award
recognizes the region's fastest growing companies that are making
significant contributions to the local economy, including creating
much needed jobs.
Cherry, Bekaert & Holland LLP, weekly business journal
Inside Business, along with an independent panel of judges of local
business leaders and university business faculty chose twenty
finalists based upon both dollar growth and percentage rate of
growth over the company's three most recent completed fiscal
years. Other judging criteria included critical factors that
resulted in company growth, challenges/obstacle overcome, and the
future outlook of long-term sustainability.
Monarch Financial Holdings, Inc. is the one-bank holding company
for Monarch Bank. Monarch Bank is a community bank with eleven
banking offices in Chesapeake, Norfolk, Suffolk, Virginia Beach,
and Williamsburg, Virginia. OBX Bank, a division of Monarch
Bank, operates offices in Kitty Hawk and Nags Head, North Carolina.
Monarch Mortgage and our affiliated mortgage companies have thirty
offices with locations in Virginia, North Carolina, Maryland, and
South Carolina. Our subsidiaries/ divisions include Monarch Bank,
Monarch Bank Private Wealth (Private banking, trust and
investments), OBX Bank, Monarch 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."
CONTACT: Brad E. Schwartz
(757) 389-5111
www.monarchbank.com
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