CHESAPEAKE, Va., March 23, 2012 (GLOBE NEWSWIRE) -- Monarch Financial Holdings, Inc., parent of Monarch Bank, has been named to the 2012 Bank Honor Roll by KBW, Inc., a full-service investment bank that specializes in the financial services sector. Monarch is one of only 45 banks named to the Bank Honor Roll out of nearly 400 banks screened by KBW. Monarch is one of only three Virginia-based banks on the list, and one of only two Virginia-based banks winning the award the past two years in a row. It was also the only bank located in the Hampton Roads market to garner this performance-based recognition.
Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet KBW's criteria for superior performance. In their news release, KBW said it selected banking companies for The Bank Honor Roll to acknowledge companies that have managed to successfully navigate a variety of obstacles as they have arisen, despite difficult conditions in what remains a growth-challenged environment. In terms of stock price performance, Bank Honor Roll companies significantly outperformed both the banking industry and the overall stock market during the five-year period between 2006 and 2011. The Honor Roll banks also meaningfully outperformed the S&P 500 return of -2.4% over the equivalent time period.
"We are very pleased to make KBW's honor roll for a second year in a row based on our strong financial performance," said Brad E. Schwartz, Chief Executive Officer. "This accomplishment is the result of the continued dedication and hard work of our employees and boards of directors, and also recognizes our great client roster."
About Monarch
Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with nine banking offices in Chesapeake, Virginia Beach, and Norfolk, 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, and "Monarch Online" consumer and business internet banking (monarchbank.com). 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), 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."