CHESAPEAKE, VIRGINIA (January 27, 2012) - Monarch Financial
Holdings, Inc. (NASDAQ: MNRK), the holding company for
Monarch Bank, announced that its Board of Directors on
January 25,
2012 declared a regular quarterly cash dividend of $0.04 per
share on its common stock. The dividend is payable on
February 28, 2012 to shareholders of record on February 10,
2012. The amount and declaration of future cash dividends are
subject to Board of Director's approval in addition to
regulatory restrictions.
"While we started paying cash dividends on our common stock
only two years ago, this is the first time we have declared a
quarterly dividend. In the past we paid cash dividends
semi-annually. Our goal, of course depending on our
profitability and capital strength, is to begin paying these
cash dividends on a quarterly basis going forward."
stated Brad E. Schwartz, Chief Executive Officer. "This
$0.04 per share quarterly dividend is in line with the
previous year's semi-annual cash dividend of $0.08 per
share."
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.
Services are also provided through over fifty ATMs located in
the South Hampton Roads area and the Outer Banks of North
Carolina, and "Monarch Online" consumer and business internet
banking (monarchbank.com). Monarch Mortgage and our
affiliated mortgage companies have twenty-three 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),
Monarch Investments (investment and insurance solutions),
Real Estate Security Agency, LLC (title agency) and Monarch
Capital, LLC (commercial mortgage brokerage). Shares of
Monarch Financial Holdings, Inc. are publicly traded on the
Nasdaq Capital Market under the symbol "MNRK" and "MNRKP".
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.
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Contact: Brad E. Schwartz - (757) 389-5111, www.monarchbank.com
Date: January 27, 2012
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