CHESAPEAKE, Va., April 4, 2011 /PRNewswire/ -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), today announces it will collaborate on commercial real estate financing transactions with Walker & Dunlop (NYSE: WD), one of the oldest and largest commercial mortgage banking companies in the United States.
Monarch Bank's Commercial Real Estate Finance Group (CREF), formerly known as Monarch Capital, LLC, will focus on the loan and deposit needs of professional commercial real estate owners and developers. Through its relationship with Bethesda, Md.-based Walker & Dunlop, LLC, the CREF group will also provide enhanced commercial mortgage banking services to its clients.
The CREF Group of experienced bankers will offer the benefit of local competitive commercial real estate financing solutions -- including construction, mini-permanent, and permanent loans across all commercial real estate property types. The Monarch CREF Group will be able to leverage the long-standing relationships Walker & Dunlop has developed with lenders, including Fannie Mae, Freddie Mac, HUD, life insurance companies, CBMS lenders, banks, REITS and pension funds.
"We're excited about the new capabilities of this relationship," said Jeremy Starkey, Senior Vice President, Monarch Bank Commercial Real Estate Finance. "Walker & Dunlop is among the most respected commercial mortgage banking firms in the country, and we're honored to align ourselves with a company that will enable us to continue to offer our clients unmatched service."Added Ted Patch, Senior Vice President, Chief Production Officer at Walker & Dunlop LLC: "We see this as a golden opportunity to work with an institution that shares our values and we are encouraged by the growth this collaboration will bring." The Monarch Bank Commercial Real Estate Finance Group will be co-managed by Senior Vice Presidents Jeremy Starkey and Chas Wright. Mike Hull will serve as the Portfolio Manager. The CREF Group will be located in the former Monarch Capital office in downtown Norfolk, Virginia. CREF's office phone number is (757) 961-0643. About Monarch Bank 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 "MNRKP" symbol. About Walker & Dunlop, LLC Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading providers of commercial real estate financial services in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS™, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups of Walker & Dunlop are focused on lending to property owners, investors, and developers of multifamily properties across the country. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States. Capital for this financing comes from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investment group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity. SOURCE Monarch Bank