CHESAPEAKE, Va., Dec. 17, 2013 (GLOBE NEWSWIRE) -- Monarch Bank, the subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), announced it has been named as one of the 2014 Best Places to Work in Virginia by Virginia Business Magazine. The Bank will accept this award in February at a formal ceremony.
"While we have won many awards and recognition for our financial performance in the past, this recognition has an even greater value due to the fact our success is employee driven. We won best places to work in Hampton Roads three times in the past, but to have an award that covers the entire state of Virginia is extraordinary," stated Brad E. Schwartz, Chief Executive Officer. "Putting our employees first has been one of our core values since Monarch was founded, and they truly deserve to be ranked as one of the best team of employees in Virginia as well."
The annual list of the Best Places to Work in Virginia was created by Virginia Business and Best Companies Group. This statewide survey and awards program is designed to identify, recognize and honor the best places of employment in Virginia, benefiting the state's economy, its workforce and businesses. The 2014 Best Places to Work in Virginia list is made up of 100 companies.
Companies from across the state entered the two-part survey process to determine the Best Places to Work in Virginia. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an all Virginia-based employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process in Virginia and also analyzed the data and used their expertise to determine the final ranking.
Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with twelve offices in Chesapeake, Norfolk, Suffolk, Virginia Beach, Newport News 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, 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.
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.