Monarch Hires James Miller As Mortgage Division Financial Officer

CHESAPEAKE, Va., Aug. 28, 2012 (GLOBE NEWSWIRE) -- Monarch Financial Holdings, Inc. (Nasdaq:MNRK), the parent company of Monarch Bank and Monarch Mortgage, today announces the appointment of James Miller as the newest member of Monarch Mortgage's senior management team. Miller will serve as Senior Vice President and Chief Financial Officer for Monarch Mortgage.

William T. Morrison, CEO of Monarch Mortgage, stated "Jim Miller is a welcome addition to our team. The experience and industry knowledge he developed over his career will be used to further support the growth, profitability, operations and risk management functions of our growing company."

Jim has served in various capacities over his 30-year banking career, most recently overseeing the Retail and Small Business Operations at Fulton Bank. Miller earned a B.S. from Bates College in Lewiston, Maine and an M.B.A. from Iona College in New Rochelle, New York. Miller's office will be located in the Virginia Beach Mortgage headquarters at 2809 South Lynnhaven Road in Virginia Beach.

About Monarch

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with ten banking offices in Chesapeake, Norfolk, Suffolk, Virginia Beach, and Williamsburg, 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, Monarch Bank Private Wealth (Private banking, trust and investments), 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 symbol "MNRKP."
CONTACT: For Media Inquiries:         Brad E. Schwartz, Chief Executive Officer         Monarch Bank         (757) 389-5111

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