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Aug 11, 2011 /PRNewswire/ -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), announces the expansion into
Suffolk and appointment of
Adam Goldblatt as new Suffolk President.
"Monarch Bank is excited to officially enter the adjacent
Suffolk marketplace," said Monarch Bank President,
Neal Crawford. "The decision to expand Monarch's footprint into
Suffolk is based on serving our existing client base and providing community banking services to another major city in Southside Hampton Roads."
Suffolk will respond well to Monarch's value-added relationship style of banking," said
Adam Goldblatt, Suffolk President. "Community banking is, at its core, a commitment to building relationships with local businesses and families." Goldblatt, with deep roots in the
Western Tidewater banking markets, joined Monarch Bank in June. He most recently was vice president and area executive for BB&T. Goldblatt has 25 years of banking experience, mostly spent with BB&T in
Goldblatt is a graduate of
Old Dominion University where he earned a Bachelor of Business Administration Degree in Finance. In addition to his professional duties, Goldblatt has served on the board of numerous community and volunteer organizations over the years, including YMCA of
Portsmouth, Suffolk Division of the Hampton Roads Chamber of Service, Suffolk Rotary Club, West End United Methodist Church and American Heart Association Portsmouth Chapter. His office phone number is (757) 955-8630.
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
Virginia Beach, and
Norfolk, 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 twenty offices with locations in
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), 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 convertible preferred stock are publicly traded on the NASDAQ Capital Market under the "MNRKP" symbol.
SOURCE Monarch Bank