CHESAPEAKE, Va., Jan. 20, 2015 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), announced Lacey Edward "Ed" Putney, Jr. has joined the company as Senior Vice President in their Commercial Real Estate Finance Group's Norfolk office. Mr. Putney has over thirty years of experience in banking with the majority of his experience supporting commercial and residential real estate investors and developers.
"We are so pleased to have Ed and his client following here at Monarch, and we expect his arrival will add significantly to our market share growth," stated Jeremy Starkey, President of the Commercial Real Estate Finance Group. "This addition, along with the recent hiring of Andy Proctor to lead the Bank's commercial real estate growth in Richmond, further shows our commitment to serving the needs of professional real estate investment professionals."
A graduate of the University of Richmond's Robins School of Business, he previously worked for The Bank of Hampton Roads, Gateway Bank-Virginia, RBC Bank, and Wachovia/Central Fidelity Bank, as well as serving as a safety and soundness bank examiner early in his career. He is a resident of Virginia Beach, Virginia.
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. Monarch Bank has loan production offices in Newport News and Richmond (Glen Allen), 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-five 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), Advance Financial Group (secondary mortgage origination), Monarch Bank Private Wealth (investment, trust, planning and private banking), 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.