CHESAPEAKE, Va., Nov. 7, 2011 /PRNewswire/ -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), today announced that the company has been named to the "The Roaring 20" list, a compilation of the twenty fastest-growing companies in Hampton Roads, Virginia.
"The Roaring 20" award honors Hampton Road's most dynamic businesses based on revenue and employee growth. The award recognizes the region's fastest growing companies that are making significant contributions to the local economy, including creating much needed jobs.
"To be to chosen as a Roaring 20's winner for being a top growth company in Hampton Roads is a great honor, especially two years in a row," stated Brad E. Schwartz, chief executive officer. "This award was truly earned by our 500 plus employees that provide exceptional service to our clients each and every day."Cherry, Bekaert & Holland LLP, weekly business journal Inside Business, along with an independent panel of judges of local business leaders and university business faculty chose twenty finalists based upon both dollar growth and percentage rate of growth over the company's three most recent completed fiscal years. Other judging criteria included critical factors that resulted in company growth, challenges/obstacle overcome, and the future outlook of long-term sustainability. 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, mobile 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), OBX Bank 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 symbol "MNRKP". SOURCE Monarch Bank
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