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Monarch Announces Local Business $75,000 "Top Flight" Award Contest Semifinalists

CHESAPEAKE, Va., March 14, 2013 (GLOBE NEWSWIRE) -- Monarch knows that small businesses are the backbone of America, and that's no different here in Hampton Road. Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), today announced the three semifinalists of its "Top Flight" Award, a contest that will reward three growing business in Hampton Roads with prize packages totaling $75,000.

"Monarch Bank would like to thank all of the entrants for participating in and supporting year three of our 'Top Flight' Award," said Brad Schwartz, CEO of Monarch Bank. "Since 2009, these local companies have collectively redefined a down economy, growing operating revenue an impressive $251 million and adding 830 new jobs to our economy. Hampton Roads is in good hands!"

An independent panel of judges reviewed all entries and selected the three "Top Flight" semifinalists. Now it's up to the community to vote for their favorite semifinalist: Diaper Junction, Marathon Consulting, and Homeland Contracting Corporation; and help determine the $75,000 "Top Flight" Award prize package winners. The community (colleagues, friends and family) will vote for their favorite semifinalist between March 17 – April 30 through a text-to-vote, text MONARCH to cox411 (269411) and online MonarchBank.com poll survey. The "Top Flight" Award winners will be announced on May 9 at the Monarch Financial Holdings, Inc. annual shareholders' meeting held at the Sandler Center for Performing Arts in Virginia Beach.

One $50,000 winner will be selected to receive: $10,000 cash from Monarch Bank; a professional business service package valued at $10,000 from accounting, tax and advisory firm Cherry Bekaert, LLP; a professional communications package valued at $10,000 from Cox Business; an advertising package, including the creation of a 30-second commercial and cable airtime, valued at $10,000 from Cox Media; and an advertising contract with Pilot Media valued at $10,000.

One $15,000 winner will be selected to receive: $5,000 cash from Monarch Bank; a professional business service package valued at $5,000 from accounting, tax and advisory firm Cherry Bekaert, LLP; and an advertising cable airtime package valued at $5,000 from Cox Media.

One $10,000 winner will be selected to receive: advertising cable airtime package valued at $5,000 from Cox Media and an advertising contract with Pilot Media valued at $5,000. Norfolk-based law firm Vandeventer Black is also sponsoring the three awards.

Text MONARCH to cox411 (269411) to cast your ballot … or visit www.monarchbank.com

About Diaper Junction

Cloth-diapering mom, Bryana Guckin started Diaper Junction 10 years ago out of her home. Diaper Junction has grown from an Internet–based business with inventory stored in Guckin's garage to a brick-and-mortar retail enterprise with warehouse facilities. Diaper Junction's goal is to provide a one-stop-shop for greener diapering for your baby and to make cloth diapers accessible to all families, regardless of income. They have begun to develop Diaper Rite, their own brand of cloth diapers and accessories specifically created to provide best quality cloth diapers at a reasonable price. If chosen to win the Top Flight Award, Diaper Junction hopes to increase brand presence in the marketplace and let consumers know there is a local cloth-diaper resource, which in turn will help keep consumer dollars in Hampton Roads and create more local jobs.

About Marathon Consulting

Marathon Consulting is a locally owned and operated Information Technology services firm. They provide IT consulting services for mid-tier businesses, nonprofits, and local governments in the Mid-Atlantic region. For three years running Marathon has made the Inc. 500/5000 list. Lead by President Al Moore, Marathon Consulting prides itself on maintaining a culture that recognizes the value of a balanced life, which includes a responsibility to give back to the Hampton Roads community. If chosen to win the Top Flight Award, Marathon Consulting envisions further expansion into the Hampton Roads community throughout the peninsula. This expansion will lead to the creation of exciting new jobs and opportunities especially for growth in their defined training plan and mentorship program for junior level individuals in the IT industry.

Homeland Contracting Corporation

Founded in 2002, Homeland Contracting Corporation has worked diligently to establish a solid reputation with Federal, State, Local and commercial clients, and has demonstrated an unwavering commitment to quality through the recruitment and retention of a highly capable staff. CEO Jennifer Crain, strives to be at the forefront of her profession. A consummate community partner, Homeland Contracting has partnered with Volunteer Hampton Roads to support many local charities including the Salvation Army "Toys for Tots", Foodbank of Southeastern Hampton Roads and Tidewater Youth Services, among others. If chosen to win the Top Flight Award, Homeland Contracting Corporation will continue to utilize their "recruit, retain, train" philosophy by using the prize package to train all of their employees on PROLOGTM, a new Project Management Software tool to help enable employees to work smarter, not harder. As well as upgrading bandwidth to enable high quality Teleconferences via SkypeTM and 1-chatTM both as a means of efficiency and as a method to eliminate downtime, reduce travel costs, and carbon emissions for clients throughout Hampton Roads.

About Monarch Bank

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. 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 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), Monarch Home Funding, LLC (secondary mortgage origination), Monarch Bank Private Wealth (investment, trust, planning and private banking), Monarch Investments (investment and insurance solutions), and Real Estate Security Agency, LLC (title agency). 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 preferred stock are publicly traded on the Nasdaq Capital Market under the symbol "MNRKP."

CONTACT: For Media Inquiries: Nancy Porter Senior Vice President - Marketing & Sales (757) 389-5107Source:Monarch Financial Holdings, Inc.