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Monarch Bank Announces $75,000 'Top Flight' Award Winners

CHESAPEAKE, Va., May 14, 2013 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), is extremely pleased to announce Diaper Junction, a one-stop-shop for greener diapering for your baby as the winner of our $50,000 prize package. We also honor $15,000 winner, Information Technology services firm, Marathon Consulting and $10,000 winner, Homeland Contracting Corporation, a firm focused on the recruitment and retention of highly capable staff who specialize in environmental remediation, interior renovation, and emergency repairs.

Monarch Bank developed this award program three years ago to recognize local businesses. Monarch's contest has collectively received over 200 business entries that grew operating revenue $495 million and added 1,607 new jobs to the local Hampton Roads economy.

Semifinalists, Diaper Junction, Marathon Consulting, and Homeland Contracting Corporation were chosen by an independent panel of judges based upon a formula that took into account: growth in both revenue and full-time staff employed over the company's three most recent completed fiscal years; descriptive narrative on how the prize package will be implemented; and community service.

Community enthusiasts were encouraged to vote for their favorite semifinalist through a text-to-vote and online poll to determine the final prize package winners.

Diaper Junction will receive a $50,000 prize package of $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.

Marathon Consulting will receive a $15,000 prize package of $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.

Homeland Contracting Corporation will receive a $10,000 prize of 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, LLP is also sponsoring all three awards with a Customized Ethics and Business Practices class.

About Monarch Bank

Monarch Financial Holdings, Inc. 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), 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."

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