×

Monarch Bank Awarded Best Places to Work in Virginia for Second Year

CHESAPEAKE, Va., Dec. 18, 2014 (GLOBE NEWSWIRE) -- Monarch Bank, the subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), announced it has been named as one of the 2015 Best Places to Work in Virginia by Virginia Business Magazine.

"Being recognized as a Best Places to Work in Virginia for a second consecutive year is an honor for our company, especially knowing this is an award driven primarily through employee feedback. Our Virginia-based employees were responsible for this recognition, and our goal of happy employees providing exceptional service is what drives our success. Putting our employees first has been one of our core values since Monarch was founded, and they truly deserve to be ranked as one of the best team of employees in Virginia." stated Brad E. Schwartz, Chief Executive Officer. "According to Virginia Business Magazine we are one of the few companies to receive this award in both 2014 and 2015."

Monarch had previously been ranked as a 2014 Best Places to Work in Virginia winner, as well as a Best Places to Work in Hampton Roads winner three times in the past. Monarch also earned recognition in the Inside Business Best Place to Work Hall of Fame.

The annual list of the Best Places to Work in Virginia was created by Virginia Business and Best Companies Group. This statewide survey and awards program is designed to identify, recognize and honor the best places of employment in Virginia, benefiting the state's economy, its workforce and businesses. The 2015 Best Places to Work in Virginia list is made up of 100 companies.

Companies from across the state entered the two-part survey process to determine the Best Places to Work in Virginia. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an all Virginia-based employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process in Virginia and also analyzed the data and used their expertise to determine the final ranking.

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with eleven banking offices in Chesapeake, Virginia Beach, Norfolk, Suffolk, and Williamsburg Virginia. Monarch Bank has loan production offices in Newport News and Richmond (Glen Allen), Virginia. OBX Bank, a division of Monarch Bank, operates offices in Kitty Hawk and Nags Head, North Carolina. Monarch Mortgage and our affiliated mortgage companies have over thirty-five offices with locations in Virginia, North Carolina, Maryland, and South Carolina. Our subsidiaries/ divisions include Monarch Bank, OBX Bank, Monarch Mortgage (secondary mortgage origination), OBX Bank Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Regional Home Mortgage, LLC (secondary mortgage origination), Advance Financial Group (secondary mortgage origination), Monarch Bank Private Wealth (investment, trust, planning and private banking), Monarch Investments (investment and insurance solutions), Real Estate Security Agency, LLC (title agency) and Monarch Capital, LLC (commercial mortgage brokerage). The common stock of Monarch Financial Holdings, Inc. is publicly traded on the Nasdaq Capital Market under the symbol "MNRK".

This press release may contain "forward-looking statements," within the meaning of federal securities laws that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company and are factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in the Company's most recent Form 10-K and 10-Q reports and other documents filed with the Securities and Exchange Commission. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONTACT: Brad E. Schwartz - (757) 389-5111, www.monarchbank.com

Source:Monarch Financial Holdings, Inc.