Monarch Bank Expands to Suffolk, Hires New City President

CHESAPEAKE, Va., Aug 11, 2011 /PRNewswire/ -- Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), announces the expansion into Suffolk and appointment of Adam Goldblatt as new Suffolk President.

"Monarch Bank is excited to officially enter the adjacent Suffolk marketplace," said Monarch Bank President, Neal Crawford.  "The decision to expand Monarch's footprint into Suffolk is based on serving our existing client base and providing community banking services to another major city in Southside Hampton Roads."

"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 Bank in June.  He most recently was vice president and area executive for BB&T.  Goldblatt has 25 years of banking experience, mostly spent with BB&T in Suffolk and Portsmouth.

Goldblatt is a graduate of Old Dominion University where he earned a Bachelor of Business Administration Degree in Finance.  In addition to his professional duties, Goldblatt has served on the board of numerous community and volunteer organizations over the years, including YMCA of Portsmouth, Suffolk Division of the Hampton Roads Chamber of Service, Suffolk Rotary Club,
West End United Methodist Church and American Heart Association Portsmouth Chapter.  His office phone number is (757) 955-8630.

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, and Norfolk, 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 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), 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 convertible preferred stock are publicly traded on the NASDAQ Capital Market under the "MNRKP" symbol.

SOURCE Monarch Bank