CHESAPEAKE, Va., May 18, 2012 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), is pleased to announce the opening of its new Suffolk banking office at the Godwin Marketplace on Corporate Lane and the addition of six new members to the Suffolk Advisory Board of Directors.
The new Advisory Board members will help shape the future of Monarch Bank in Suffolk with their business and community expertise. Joining the Suffolk Advisory Board of Directors:
- Grier Ferguson, Chairman, Ferguson Rawls & Raines PC
- Mark Brinkley, CW Brinkley, Inc.
- Les Hall, Allfirst, LLC
- Michael Luter, Arrowhead Environmental Services, Inc.
- Charles Pond, Nansemond Cold Storage Company, Inc.
- Melissa Venable, Land Planning Solutions
"We think Suffolk will respond well to Monarch's value-added relationship style of banking," said Adam Goldblatt, Suffolk President. "Community banking is, at its core, a commitment to building relationships with local businesses and families."
Goldblatt, with deep roots in the Suffolk and Western Tidewater banking markets, joined Monarch in June 2011. Most recently, Debbie Cagle joined Monarch Bank as manager of the Suffolk office. Cagle has more than 30 years of experience and previously worked as a wealth management banker for BB&T. The new office is located at 2999 Corporate Lane. Monarch Bank's Suffolk office phone number is (757) 942-1325.
About Monarch Bank
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, Norfolk and Suffolk, 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 "MNRKP" symbol.