Bailout Bank Bio: Monarch Financial Holdings

Jan 15, 2009 | 2 min read | Print Article

Monarch Financial Holdings, Inc. is a bank holding company that operates through its wholly owned subsidiary, Monarch Bank. The company operates two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia, and serves Chesapeake, Norfolk, Suffolk, and Portsmouth, Virginia; and North Carolina markets. Monarch Financial Holdings is headquartered in Chesapeake, Virginia. Under the TARP Capital Purchase Program, Monarch Financial will receive $14.7 million in exchange for the company’s preferred stock and warrants on 268,575 shares of Monarch Financial Holdings, Inc. Common Stock.

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Bailout Bank Bio: Monarch Financial Holdings


Federal Equity Investment	$14.7 million
Total Revenue	$39.13 million (2007)
Net Income	$3.16 million (2007)
Number of Employees	237
Corporate Headquarters	Chesapeak, Virginia
Business Sector	Financial Services
Officers and Directors	Baker, Lawton, Vice Chairman of the Board, Director Morrison, William, Executive Vice-President & Chief Operating Officer – Monarch Mortgage Covington, Joe, Director Schaubach, Dwight, Director Sutton, Lawrence, Director Grissom, Taylor, Director Patterson, Elizabeth, Director Basnight, Cassell, Director Oman, Robert, Director Schwartz, Brad, Chief Operating & Financial Officer, Executive Vice President, Secretary, Director Benson, Jeffrey, Chairman of the Board
Corporate Website	https://www.monarchbank.com
Executive Compensation	Monarch Financial Holdings