CHESAPEAKE, Va., Feb. 6, 2012 (GLOBE NEWSWIRE) -- W. Craig Reilly has been appointed as the Norfolk President for Monarch Bank (Nasdaq:MNRK). Craig, 36, currently serves as the Virginia Beach President and will continue to serve in that role. Craig began his career in banking in the Norfolk market, and before being named Virginia Beach President served as a commercial banker in the Norfolk market for Monarch Bank. Craig holds an economics degree from Hampden-Sydney College, and is a life-long resident of Norfolk.
E. Neal Crawford, Jr., President of Monarch Bank, stated, "We are excited to announce Craig's new role and his homecoming to Norfolk. We expect his leadership in growing our marketshare in Virginia Beach to be duplicated in his new role here in Norfolk."
About Monarch
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 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), 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."