This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Monarch Financial Reports 2013 Financial Results And Declares Cash Dividend

CHESAPEAKE, Va., Jan. 30, 2014 (GLOBE NEWSWIRE) -- Monarch Financial Holdings, Inc. (Nasdaq:MNRK), the bank holding company for Monarch Bank, reported annual and fourth quarter financial results and declared a quarterly cash dividend. The Board of Directors announced the quarterly common stock cash dividend of $0.07 per common share, payable on February 28, 2014, to shareholders of record on February 10, 2014.

Annual 2013 highlights are:
  • Net income of $11,091,007, for a return on equity of 11.97%
  • Diluted earnings per share of $1.08
  • Net Loans held for investment grew $51.6 million, up 7.8%
  • Non-performing assets at 0.26% of total assets
  • Net Interest Margin of 4.13%
  • $1.98 billion in mortgage loans closed, 65% for home purchases

Fourth quarter 2013 highlights are:
  • Quarterly net income of $2,156,566, for a return on equity of 8.88%
  • Diluted earnings per share of $0.20
  • $350 million in mortgage loans closed, 80% for home purchases

"We are proud to announce the best year in our history for total shareholder return, and the second best year for company financial performance. Market-driven declines in mortgage production, which was at an all-time high in 2012, resulted in a much lower mortgage banking contribution in 2013. Our banking and investment operations produced record results, with loans held for investment, core deposits, and assets under management all growing, driving higher revenue and net income for those segments," stated Brad E. Schwartz, Chief Executive Officer. "Non-performing assets hit a five-year low of 0.26% of total assets. The market has responded to our standout performance with price appreciation in our common stock that, when combined with two increases in our common stock dividends during the year, produced a 52% total shareholder return for 2013."

For 2013 net income was $11,091,007 compared to $12,824,869 for the same period in 2012. For 2013 net income available to common shareholders was $11,091,007 compared to $11,422,337 for the same period in 2012 when preferred stock dividends were paid. The 2013 return on average equity (ROE) was 11.97%, and the annualized return on average assets (ROA) was 1.07%. Annual diluted earnings per share were $1.08 compared to $1.25 per share in 2012. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs