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Monarch Bank Announces Small Business Contest "Top Flight" Award Semifinalists

CHESAPEAKE, Va., March 31, 2011 /PRNewswire/ -- Monarch knows that small businesses are the backbone of America, and that's no different here in Hampton Road. Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), today announces the three semifinalists of its "Top Flight" Award, a contest that will reward one growing business in Southside Hampton Roads with a prize package valued at $40,000.

"Monarch Bank would like to thank all the entrants for participating in and supporting our inaugural "Top Flight" Award.  We have had an unbelievable response receiving 95 high quality entries," said Brad E. Schwartz, CEO of Monarch Bank. "Since 2007, these local companies have collectively redefined a down economy, growing operating revenue $100 million and adding 467 new jobs to our economy. Hampton Roads is in good hands!"

Now it's up to the community to vote for their favorite semifinalist: MYMIC LLC, Osage of Virginia, and Valkyrie Enterprises, LLC; and help determine the winning "Top Flight" business. The community (colleagues, friends and family) will vote for their favorite semifinalist between April 1-30 through a text-to-vote and online poll survey on MonarchBank.com to cast a ballot for their favorite "Top Flight" semifinalist.

"Monarch Bank started the award to help area businesses attain their goals," said Neal Crawford, president of Monarch Bank. "The "Top Flight" Award gives us the opportunity to recognize businesses that are making impressive strides and reward one business with a prize package we think will further stimulate growth and job creation for our community."

The one winner will be selected to receive: $10,000 cash from Monarch Bank; a professional business service package valued at $10,000 from accounting, tax and advisory firm Cherry, Bekaert & Holland, L.L.P.; a professional business package valued at $10,000 from Cox Business Communications; and an advertising package, including the creation of a 30-second commercial and cable airtime, valued at $10,000 from Cox Cable Media. Norfolk-based law firm Vandeventer Black is also sponsoring the award.

An independent panel of judges reviewed all entries and selected the three "Top Flight" semifinalists. All financial information was kept strictly confidential and viewed only by the two analysts assigned to verify and document the entries. The "Top Flight" Award winner will be announced on May 17 at the annual Monarch Financial Holdings, Inc. shareholders' meeting. Official rules can be found at MonarchBank.com. http://www.monarchbank.com

Text "Top1" to 269411 (cox411)

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