Photo Release -- Monarch Bank Announces New Peninsula Market President and Opening of Newport News Office

William H. Carr

CHESAPEAKE, Va., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (Nasdaq:MNRK), announces William (Bill) H. Carr has joined Monarch Bank as Peninsula market president to lead business banking from Monarch's newest office in Newport News at One City Center. The City Center and Oyster Point area of Newport News serves as the business hub for the region, and is the second office opened in the bank's recent expansion into the Williamsburg and Peninsula markets.

A photo accompanying this release is available at

William H. Carr

"Bill is an excellent addition to our team of bankers and will enhance our business banking expansion and growth on the Peninsula," stated Brad E. Schwartz, Chief Executive Officer. "Bernie Ngo will continue to lead Monarch as the Williamsburg market president and is responsible for the growth of Monarch Bank Private Wealth though out the company as a managing director. Bill and Bernie have worked together for over two decades serving the clients in both regions. We now offer a team of experienced banking, private wealth, and mortgage professionals to serve Williamsburg and Peninsula clients from two locations."

Most recently, Carr was Executive Vice President / Commercial Banking Manager for Virginia Company Bank and prior to that served twenty-four years with SunTrust Bank. Carr's office will be located at 11815 Fountain Way, Suite 510 in the City Center area of Newport News. His phone number is (757) 534-9352 and email is Carr is a graduate of Hampden-Sydney College. He currently serves on the Board of Directors of the Virginia Living Museum and the Hospice House and Support Care of Williamsburg. He is active in public and trade service organizations, and serves on the Economic Development Authority for the City of Williamsburg.

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".

The photo is also available at Newscom,, and via AP PhotoExpress.

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