CHESAPEAKE, Va., March 6, 2013 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), is pleased to announce the addition of three new bankers to the Monarch team. "One of our goals is to attract and retain the very best bankers in our industry," said Neal Crawford, Monarch Bank president. "Our most recent 2012 additions have the experience and dedication to our community which makes them key assets to Monarch Bank's growth."
Dennis Napier has 30 years of experience in the real estate finance industry. Before joining Monarch, Napier worked for 17 years for a Virginia Beach real estate developer, serving as their Chief Financial Officer, and then spent 13 years as a real estate finance banker. Napier will now reside in Monarch Bank's Real Estate Finance Office located at 1435 Crossways Blvd., Suite 100, in the Corporate Office in Chesapeake and can be contacted at (757) 955-8609.
Sherrie Newsome joined Monarch in December as Vice President, private banker, and our Hilltop banking office manager. She is the president of the Board of Directors for Our House Families, a United Way organization, an emergency homeless shelter and transitional housing in Chesapeake. Her office is located at 1635 Laskin Road in Virginia Beach. Newsome's office number is (757) 309-4713.
Before joining Monarch, Andrew Stone worked for a community bank for over five years, beginning in a management trainee position. In his new role, Stone will work as Assistant Vice President, business banker in our Chesapeake Commercial office located in Corporate Offices. He holds an undergraduate degree from the Virginia Military Institute and a Master's degree from Old Dominion University. Stone can be reached at (757) 955-8625.
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, Virginia Beach, Norfolk, Suffolk 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 over thirty 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 Bank Private Wealth (investment, trust, planning and private banking), Monarch Investments (investment and insurance solutions), and Real Estate Security Agency, LLC (title agency). 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 preferred stock are publicly traded on the Nasdaq Capital Market under the symbol "MNRKP."