CHESAPEAKE, Va., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), announces William (Bill) H. Carr has joined Monarch Bank as Peninsula market president to lead business banking from Monarch's newest office in Newport News at One City Center. The City Center and Oyster Point area of Newport News serves as the business hub for the region, and is the second office opened in the bank's recent expansion into the Williamsburg and Peninsula markets. A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=20204
"Bill is an excellent addition to our team of bankers and will enhance our business banking expansion and growth on the Peninsula," stated Brad E. Schwartz, Chief Executive Officer. "Bernie Ngo will continue to lead Monarch as the Williamsburg market president and is responsible for the growth of Monarch Bank Private Wealth though out the company as a managing director. Bill and Bernie have worked together for over two decades serving the clients in both regions. We now offer a team of experienced banking, private wealth, and mortgage professionals to serve Williamsburg and Peninsula clients from two locations."
Most recently, Carr was Executive Vice President / Commercial Banking Manager for Virginia Company Bank and prior to that served twenty-four years with SunTrust Bank. Carr's office will be located at 11815 Fountain Way, Suite 510 in the City Center area of Newport News. His phone number is (757) 534-9352 and email is firstname.lastname@example.org. Carr is a graduate of Hampden-Sydney College. He currently serves on the Board of Directors of the Virginia Living Museum and the Hospice House and Support Care of Williamsburg. He is active in public and trade service organizations, and serves on the Economic Development Authority for the City of Williamsburg.