2 014 A N N UA L R E P O RT
Building Lasting Relationships Through Exceptional Service
5-YEAR SNAPSHOT
Diluted Earnings Per Share
$1.50
$14
$1.25
$12
$1.00
$0.75
$0.50
$8
$6
$4
$0.25
$0
$11.2
$10
$1.05
(Millions)
(Millions)
Net Income
$2
2010
2011
2012
2013
$0
2014
2010
Dividends, Per Share
$10.00
$0.31
$0.25
$8.00
$0.15
$7.00
$0.10
$6.00
$0.05
2010
2011
2012
2013
$5.00
2014
2010
2011
$1,300
$125
$1,200
$100
$1,100
$1,067
$1,000
$900
2013
2014
$107
$75
$50
$25
$800
2010
2011
2012
2013
$0
2014
2010
Total Loans (HFI)
2011
2012
2013
2014
Mortgage Loans Closed
$800
$3,000
$773
$2,400
(Millions)
$700
(Millions)
2012
Equity Capital
(Millions)
(Millions)
Total Assets
$600
$1,800
$1,604
$1,200
$500
$600
2010
2011
2012
2013
$0
2014
2010
2011
Non-Performing Assets to Total Assets
$900
0.9%
$800
(Millions)
$1,000
1.2%
0.6%
0.3%
0.28%
2010
2011
2012
2013
2 | Monarch Financial Holdings, Inc.
2014
2012
2013
2014
Total Deposits
1.5%
0.0%
2014
$10.10
$9.00
$0.20
$400
2013
$11.00
$0.30
$700
2012
Book Value, Per Share
$0.35
$0.00
2011
$919
$700
$600
$500
2010
2011
2012
2013
2014
CONSOLIDATED FINANCIAL DATA
At or for the Years Ended December 31,
2014
2013
2012
2011
2010
(Dollars in thousands, except per share data)
Summary of Operations
Interest income
Interest expense
Net interest income
Provision for loan losses
Net interest income after provision for loan losses
Non-interest income
Non-interest expense
Income before income taxes
Net income attributable to non controlling interests
Income tax expense
Net income
Net income available to common stockholders
$42,991 $
3,661
39,330
0
39,330
67,079
88,480
17,929
(227)
6,490
$11,212
11,212
Per Share and Shares Outstanding
Net income, basic
Net income, diluted
Cash Dividends per common share
Book value at period end
Basic weighted average shares outstanding
Diluted weighted average shares outstanding
$1.06
$1.05
$0.31
$10.10
10,619,443
10,658,600
Balance Sheet
Total assets
Total loans held for investment (HFI), net
Total loans held for sale
Total deposits
$1,066,737 $1,016,701 $1,215,578 $908,477 $825,583
772,590
712,671
661,094
607,612
558,868
147,690
99,718
419,075
211,555
175,388
919,414
893,118
901,782
740,092
705,662
Selected Performance Ratios
Return on average assets
Return on average equity
Net interest margin (tax adjusted)
Non-interest income to operating revenue
Asset Quality Ratios
Non-performing assets to total assets
Non-performing loans to period-end loans (HFI)
Allowance for loan losses to period-end loans (HFI)
Allowance for loan losses to non-performing loans
Capital
Equity to assets ratio
Total risk-based capital ratio
Stockholders’ equity
1.13%
10.95%
4.25%
63.04%
44,348 $
4,786
39,562
0
39,562
69,882
90,911
18,533
(1,056)
6,386
$11,091
11,091
$1.09
$1.08
$0.24
$9.29
10,167,156
10,299,471
1.07%
11.97%
4.13%
63.85%
46,468 $
5,916
40,552
4,831
35,721
89,761
104,256
21,226
(975)
7,427
$12,824
11,422
$1.54
$1.25
$0.19
$8.80
7,400,443
10,271,874
1.26%
15.84%
4.29%
68.88%
40,420 $39,273
6,797
8,798
33,623
30,475
6,320
8,639
27,303
21,836
54,746
53,400
71,044
65,480
11,005
9,756
(460)
(263)
3,419
3,544
$7,126
$5,949
5,566
4,389
$0.78
$0.70
$0.16
$7.81
7,147,290
10,165,105
$0.64
$0.62
$0.14
$7.20
6,858,638
7,003,556
0.89%
9.66%
4.51%
61.95%
0.76%
8.59%
4.22%
63.71%
0.28% 0.25% 0.29% 0.84%
0.37%
0.31%
0.54%
0.71%
1.16%
1.27%
1.65%
1.63%
310.77%
409.63%
307.15%
231.36%
1.30%
1.61%
1.62%
100.19%
10.08%
13.79%
$107,451
9.59%
13.91%
$97,518
7.19%
12.05%
$87,342
8.39%
12.42%
$76,233
8.67%
12.99%
$71,568
2014 Annual Report | 3
LETTER TO OUR SHAREHOLDERS
The credit for our outstanding performance goes to our talented
employees and directors who are committed day in and day out
to building Monarch into a high-performance company.
We are pleased to report another solid year of performance for your Company. In
the past year you saw a year over year total shareholder return of 14%, which is
stock price appreciation plus dividends. This again beat all the major stock indexes.
During the year we increased the cash dividends paid on our common stock by
29%, with a direct return of capital of $3.3 million. 2014 was our second best year
for net income, at $11.2 million. This was quite an accomplishment given the low
interest rate environment and the highly competitive market for quality banking,
mortgage and investment relationships. Our people again made the difference.
Because we continued to lend to and support our clients during the financial crisis
they remained loyal to Monarch – those that understand the value of a good
bank, and a good banker, in both good times and bad. While we hope we never
see an economic cycle like we saw recently, we do know we will stick by our clients
time and time again.
We grew our loan portfolio 8%, or $60 million due to our bankers, their
relationships, our ability to respond quickly, and our reputation. Unlike many of
our competitors we grew every one of those loan relationships with our bankers, in
our markets, and did not resort to purchasing loans to drive this growth.
Late in 2014 we opened a loan production office in Richmond, our first banking
services office outside Hampton Roads and the Outer Banks. We also hired several
talented bankers to complement our team in 2014. As we mentioned last year, the
market was dominated by irrational competition defined by poor underwriting,
foolish pricing, and risky structures by our competitors. As we have for over fifteen
years, we continue our conservative lending style that balances credit and interest
rate risk with the needs of the client.
Asset quality remained strong in 2014, which was the second year in a row where
we had no provision expense for bad loans. Just 0.28% of our assets were classified
as non-performing at year-end, ranking us in the top quartile of our national and
local peers. We also saw major reductions in our higher-risk loan categories as our
client’s financial conditions improved and real estate underlying many of those
loans rose in value or sold in the open market.
Historically banks that achieve strong valuations (think stock price) have strong
core deposit franchises. This means large numbers of clients with checking, savings
and money market accounts. A core strategy since our founding, we grew our
4 | Monarch Financial Holdings, Inc.
14%
T O T A L
SHAREHOLDER
R E T U R N
29%
INCREASED
C
A
S
H
DIVIDENDS
8%
L
O A
N
G R O W T H
checking account balances by $40 million last year, and exceeded $300 million in
checking deposits for the first time. Demand deposits, which now represent 33% of
our total deposits, along with our money market deposit base will add even more
long-term value to our franchise when rates eventually rise. We remain the second
largest community bank in Hampton Roads based on deposits, and the fourth in
market share at OBX Bank.
Our mortgage team closed $1.6 billion in loans in 2014, with our biggest year ever
for closing loans to purchase a home. Since we established Monarch Mortgage in
2007 our focus has been on the purchase-money mortgage market, with refinances
considered a secondary business. With 80% of our closed loans dedicated to
purchase mortgage loans in 2014, we were able to deliver similar revenues to 2013
with a slightly lower level of production. We applaud our mortgage leadership team
led by mortgage CEO Will Morrison and President Jack Lane.
We continued to adjust how we deliver our banking services in light of changing
client demands. While others were building large branches we were quietly
reworking how we deliver banking services in person, relocating or renovating
offices for higher performance, and implementing major technology initiatives.
We implemented our Universal Personal Banker program in all our banking
offices, with these office employees now trained to perform just about any function
a client needs. This change allows us to provide our exceptional service model in
a more professional and efficient manner. Late in the year we implemented a new
online and mobile banking platform that ensures we have the capability to deliver
leading edge banking to the fingertips of our clients. Overall we remain focused
on delivering exceptional service whether in person, online, or on your tablet or
smart phone. We have an app for that!
The start-up of Monarch Bank Private Wealth in late 2012 continues to deliver
bottom line results with $235 million in assets under management at year-end
2014. In May we opened our new Williamsburg banking and private wealth office
to great success. We now have over 200 families that utilize the expertise of our
licensed and experienced wealth managers and financial advisors to grow and
protect their investments. With an average account size of over $1 million, and
81% of our clients utilizing our comprehensive Goal Planning and Monitoring
financial planning tool, we continue to grow primarily by word of mouth. We plan
to continue expanding this business and recently hired an experienced banker to
lead our private banking growth in our Norfolk, Virginia Beach and Chesapeake
markets.
$1.6
B I L L I O N
MORTGAGE
L O A N S
C L O S E D
$235
M I L L I O N
INV E ST MENT
A S S E T S
MONARCH
B A
N
K
P R I V A T E
W E A L T H
Monarch was recognized for a second year in a row as one of the “Best Places to
Work in Virginia” by Virginia Business magazine. We are proud to be ranked as
the 8th best large company to work for in the entire state. Our simple formula
is we put our people first; they in turn take care of our clients, which allow us
to support the community, which then benefits the shareholder by growing your
investment.
2014 Annual Report | 5
LETTER TO OUR SHAREHOLDERS
Supporting the community is one of our core values at Monarch. Monarch
Children’s Charities, our very own non-profit subsidiary, raised a record $221,000
at our annual golf tournament in 2014 and has raised over $1.5 million since its
formation. These funds are distributed to local children’s focused charities. With
this tournament, other community sponsorships, and the time given by our staff
to support local charities and churches, we continue to make a difference in all
our communities.
We remain strong and highly capitalized, with independent Bauer Financial giving
us their top 5-Star “Exceptional” award for our financial strength. We have earned
this recognition for over five years now, and plan to remain a bank of strength.
We want to thank our Boards of Directors comprising our Corporate Board; our
City Boards in Chesapeake, Virginia Beach, Norfolk, and Williamsburg; our OBX
Bank Board; and our Hampton Roads Leadership Board for their unwavering
support. Our newest board, the Monarch Peninsula Board led by Peninsula Market
President William “Bill” Carr, was organized late in the year and has already made
a significant impact to our results.
We want to thank you for entrusting us as stewards of your investment. All of us
in the Monarch family are grateful for your support and will continue to prove
ourselves worthy of your trust and confidence.
Brad E. Schwartz
E. Neal Crawford, Jr.
Chief Executive Officer
President
6 | Monarch Financial Holdings, Inc.
SM
AR
T
GR
OW
While keeping true to our culture and conservative nature, we do see that size, or
“scale,” can benefit all our stakeholders. With increasing regulatory, compliance,
technology, and overhead costs the community bank that survives and thrives must
grow. Strategically we are focused on the organic growth of our bank, intelligent
banking acquisitions if they can be found, the growth of Monarch Bank Private
Wealth, as well as the potential to add other complementary lines of business to
the mix. You have our word we will not complete a transaction or growth strategy
that is not good for the long-term value of our shareholders. Growth is not only
good, it has become necessary in our industry.
TH
What we have built in the past fifteen years is the foundation of a great company.
Those that know us know we keep our egos in check, and that this comment
merely means we have the structure and capacity to grow beyond our current size.
As we look to 2015 in the short-term and to the year 2020 in a longer time frame
we visualize a larger and stronger financial services company that we know you
would be proud to own.
LEADERSHIP
Corporate Board of Directors
Jeffrey F. Benson, Chairman
Overton Enterprises, Inc.
Virginia (Ginny) Sancilio Cross
Ashdon Builders
Elizabeth T. Patterson
Waypoint Advisors, L.L.C.
Lawton H. Baker, Vice Chairman
Baker & McNiff CPAs
Taylor B. Grissom
Davenport Land Management / Blue Water Pools
Dwight C. Schaubach
Schaubach Companies
Joe P. Covington, Jr.
Covington Contracting, Inc.
William T. Morrison
Monarch Mortgage CEO
Brad E. Schwartz
Chief Executive Officer
E. Neal Crawford, Jr.
President
Robert (Bobby) M. Oman
Oman Funeral Homes, Inc.
Executive Management
Brad E. Schwartz
Chief Executive Officer
E. Neal Crawford, Jr.
President
William T. Morrison
Monarch Mortgage CEO
Denys Diaz
Executive Vice President
Chief Information Officer
Lynette P. Harris
Executive Vice President
Chief Financial Officer
Andrew N. Lock
Executive Vice President
Chief Risk Officer
Senior Management
Mary J. Anderson
Senior Vice President
Human Resources
William H. Carr
Peninsula President
Patrick A. Faulkner
Executive Vice President
Managing Director, Investments
James R. Ferber
Real Estate Group President
Adam J. Goldblatt
Suffolk President
Barbara L. Guthrie
Executive Vice President
Property Management
Jack H. Lane
Monarch Mortgage President
W. Craig Reilly
Norfolk President
Steven C. Layden
Business Banking President
David K. Ropp
Chesapeake President
Barry A. Mathias
Executive Vice President
Chief Credit Officer
Terri A. Ruby
Senior Vice President
Cash Management Director
David W. McGlaughon
OBX Bank President
Jeremy R. Starkey
Commercial Real Estate Finance President
Karyn M. Mercier
Senior Vice President
Retail Banking
Chas M. Wright
Virginia Beach President
Bernard H. Ngo
Williamsburg President
2014 Annual Report | 7
LEADERSHIP
Monarch Bank & OBX Bank
Executive Vice President
N. Joseph Dreps, Jr.
Real Estate Loan Officer
Senior Vice President
Debbie Morgan
Retail Loan Support Manager
Dennis Napier
Real Estate Banker
Joanie Needham
Business Banker
Kathy Nowell
Senior Credit Analyst
Andrew Proctor
Commercial Real Estate Finance
Lacey (Ed) Putney Jr.
Commercial Real Estate Banker
Robert White
Real Estate Banker
First Vice President
Michele Gladu
Loan Administration Manager
Juliet Jaljulio
Compliance Officer
Michael Jones
Internal Audit Manager
Cathy Lockwood
Real Estate Banker
Becky Lovelace
Cash Management Officer
Chris Lyle
Real Estate Banker
Debbie Millard
Private Banker
Michelle Nealey
Controller
Terri Trotman
Deposit Operations Manager
Vice President
Debbie Cagle
Private Banker
James (Rox) Corbin
Business Banker
Lynn Crump
Private Banker
Wanda Garrett
Private Banker
Michael Glover
Business Banker
Vita Harper
Private Banker
Nancy Hines
Training Director
Dee McManus
Cash Management Officer
Ben Miles
Private Banker
Graham Miller
Performance Management
Phyllis Neal
Private Banker
Sherrie Newsome
Private Banker
Kasey Schmidt
Business Banker
Susan West
Private Banker
Sabrena Williams
Information Security Analyst
Jamie Young
Private Banker
Assistant Vice President
Derrell Combs
IT Business Analyst
Nicole Crandall
Real Estate Portfolio Manager
Casey Cudney
Private Banker
Karen Gawne
Personal Banker
Ryan King
Business Banker
Jo Ann Lambert
Security Officer
Meagan Parker
Business Banker
Jesus Ramirez
IT Infrastructure Manager
Bank Officer
David Adams
Credit Analyst
Lori Brodie
Personal Banker
Monica Diette
Cash Management Officer
Melissa Fletcher
Commercial Account Manager
Ryan Helvig
Business Banker
Debra Mueller
Assistant Operations Manager
Laura Pearce
BSA/AML Analyst
Christinne Pearson
Cash Management Coordinator
Casey Rawles
Personal Banker
Lee Van De Water
Portfolio Manager
Nelson Wroten III
IT Infrastructure Engineer
8 | Monarch Financial Holdings, Inc.
Monarch Bank
Private Wealth
Executive Vice President
Ben Vanderberry
Private Wealth Advisor
Senior Vice President
Michele Orabona
Private Wealth Advisor
Caroline Sorokos
Private Wealth Advisor
First Vice President
Timothy Kraus
Financial Advisor
Barbara Spady
Investment Associate
Vice President
Daniel Carlile
Investment Executive
Bank Officer
Vickie Garner
Investment Associate
Peggy Pitts
Personal Banker
Monarch Mortgage
Executive Vice President
Matthew Bensen
Regional Manager
Daniel FitzGerald
Regional Manager
Raymond Gunter
Regional Manager
Clayton Hicks
Regional Manager
Timothy Miller
Secondary Marketing Manager
Stephen Sager
Regional Manager
Senior Vice President
George (Trey) Cooper
Regional Manager
David Hinds
Area Manager
Amber Kilian
Operations Manager
Deborah Laursen
Accounting Manager
Samuel Meekins
Area Manager
Oliver Midgett
Regional Sales Manager
Connie West
Construction Perm Manager
First Vice President
Alisa Gerald
Compliance Officer
Wendy Lewis
Marketing Director
Norma Selby
Training Director
Vice President
Deborah Coleman
HMDA Manager
John Frankos
Branch Manager
Timothy Good
Branch Manager
Pamela Jones
Area Manager
Joan Kozlowski
Regional Operations Manager
Ellen Lenihan
Loan Fulfillment
John (Ritchie) Love
Regional Manager
John McAleese
Regional Manager
Michael Miller
Branch Manager
Robert O’Bday, Jr.
Regional Manager
Michelle Westervelt
Risk Officer
Lee Woods, Jr.
Compliance Officer
Assistant Vice President
Pamela Housand
Loan Closing Manager
Julia Killinger
Assistant Accounting Manager
Tricia Permito
Secondary Marketing Supervisor
Matthew Windsor
IT Business Analyst Manager
Bank Officer
Adria Daniels
Loan Shipping Manager
Elizabeth Haid
Suspense Manager
Rebecca Mahaffey
MERS Administrator
CITY BOARDS OF DIRECTORS
Chesapeake / Suffolk
W. Michael Bryant
OBBCO Safety & Supply, Inc.
Mark R. Christian
Esprit Décor
Brian M. Clements
The Title Quest Companies
Floyd M. Cross, Jr.
Standard Calibrations, Inc.
Stacy Cummings
Priority Automotive
Jorge A. Dabul
McPhillips, Roberts & Deans, PLC
Douglas W. Davis
Davis Law Group, P.C.
Vernon (Richard) R. Divers, Jr.
Savage & McPherson Insurance Agency
E. Grier Ferguson
Ferguson Rawls & Raines PC
James A. Gudac
Titan Contractors, Inc.
James (Les) L. Hall
Allfirst LLC
Glenn B. Heard
Heard Concrete Construction Corporation
Kevin L. Hubbard
Hubbard Law Group
Daniel J. Hugeback
Diamond Glazing, Inc.
Michael D. Luter
Arrowhead Environmental Services, Inc
Charles B. Pond, III
Nansemond Cold Storage Company, Inc
Christopher W. Prince
Keller Williams Realty
Barbara L. Smith
Cherry, Bekaert & Holland, LLP
Melissa L. Venable
Land Planning Solutions
Thomas T. Winborne
Clark Nexsen, Architecture & Engineering
Norfolk
Jon M. Ahern
Sykes, Bourdon, Ahern & Levy, P.C.
Edward J. Amorosso
McPhillips, Roberts & Deans, PLC
David J. Benjack
Chesapeake Drywall & Acoustics, Inc.
Michael Burnette
Burnette Development
Adam Casagrande
Williams Mullen
Webster M. Chandler, III
Nancy Chandler Associates, Inc.
Charles T. Church
Getem Services
Erik S. Cooper
Cooper Realty, Inc.
R. Gatewood Dashiell
R.G. Electric Co., Inc.
John W. Domanski
Accurate Marine Environmental, Inc.
Timothy A. Faulkner
The Breeden Company
Robert S. Friedman
Harbor Group
Marc H. Glickman
M.D., Vascular & Transplant Specialists
David F. Host
T. Parker Host, Inc.
Richard H. Jackson, Jr.
Jackson Property Company
John (Jack) T. Kavanaugh
Retired Admiral/US Navy
Michael W. McCabe
Harvey Lindsay Commercial Real Estate
William (Shep) S. Miller, III
Kitco Fiber Optics
D. Scott Pritchett
Snow Jr. & King, Inc.
Michael L. Sterling
Vandeventer Black, LLP
John (Randy) R. Stokes
Stokes Law Group, PLC
Edward D. Whitmore
Norfolk Tug Co.
F. Blair Wimbush
Norfolk Southern Corporation
Lauren V. Wolcott
Lauren V. Wolcott, CPA, P.C.
Peninsula
Donald Allen
E.T. Lawson & Son, Inc.
Bob Burch
Century 21 Nachman Realty
Dawn F. Griggs
Thalhimer
Donald Moore
Craft Bearing Company, Inc.
Jeffrey D. Morrison
T.P.M.G., P.C.
Megan Perry
Sentara Healthcare
Joyce Schaffer
Malvin, Riggins and Company, P.C.
Mark A. Short
Kaufman & Canoles
Cowles (Buddy) Spencer
Mid Atlantic Residential
Lee Scott Trainum
International Communications Group, Inc.
Williamsburg
Ronald J. Boyd
Stantec
Gregory R. Davis
Kaufman & Canoles P. C.
John W. Gerdelman
River2
Paul (Steve) S. Hunter
Philip Morris USA (Retired)
James E. Lesnick
Riverside Health System
Sylvia C. Payne
Prudential Realty
Millard (Sandy) P. Robinson
Arcadis U S., Inc.
Brett K. Smith
Cleckley & Smith, Inc.
Virginia Beach
Thomas H. Atherton, III
Atherton Real Estate Development, Inc.
Randal K. Bregman
4 Ever Summer Charters
Eric N. Bucklew
Divaris Real Estate Inc.
Ann K. Crenshaw
Kaufman & Canoles, P.C.
Dennis R. Deans
McPhillips, Roberts & Deans, P.C.
William R. DeSteph
DeSteph Enterprises
James E. Dowd
Jordan Young Institute
Dennis M. Ellmer
Priority Automotive
Christopher J. Ettel
VB Homes
Robert J. Eveleigh
Marine Oil Service Inc.
Michael A. Inman
Inman & Strickler, PPLC
James P. Karides
Karides Group
Andrew C. Kline
Payday Payroll, Inc.
Donald E. Lee, Jr.
Donald E. Lee, Jr. & Associates, P.C.
Michael H. Levinson
Attorney at Law
Victor D. Lewis, III
MD, Chesapeake General Hospital
Aubrey (Gene) E. Loving, Jr.
Max Media
William (Joe) H. McCutcheon Jr.
McQ Builders LLC
Alfred B. Midgett
The Noblemen
Gordon E. Parker, Jr.
Heritage Business Strategies, LLC
Adam W. Ritt
Hoy Construction, Inc.
Virginia B. Rountree
William F. Rountree Fund
Marc A. Sauter
Zoës Restaurant
Wayne C. Sawyer
Victory Lap, L.L.C.
Terri S. Stickle
Rose and Womble Realty
Bruce B. Smith
Bruce Smith Enterprises
Ramsay S. Smith
Pembroke Enterprises, Inc.
William H. Williard
Nationwide
Katherine C. Willis
Palladium Partners, LLC
OBX Bank
Tim A. Beacham
Earth Resources, Inc.
Timothy M. Cafferty
Outer Banks Blue
Charles E Hardy
Hardy Moving & Storage
Robert F. Harrell
Harrell & Associates
Myra Ladd-Bone
Atlantic Realty of the Outer Banks
Robert L. Outten
Dare County Government
James F. Perry
Jim Perry & Company
James (Jimbo) C. Ward
Beach Realty & Construction
W. Ray White
OBX Bank
2014 Annual Report | 9
HAMPTON ROADS LEADERSHIP BOARD
Ephriam Adler
Harbor Group
Aaron Ambrose
Kaufman & Canoles P. C.
Lyle Beckner
London & Norfolk, LTD
Zachary Brandau
Rutherfoord, A Marsh & McLennan Agency LLC
Robert Brown
R.G. Electric Company, Inc.
Todd Budlong
Budlong Enterprises, Inc.
Bill Burnette
Burnette Capital
Chamie Burroughs
CB Richard Ellis
Adam Casagrande
Williams Mullen
Jared Chalk
Norfolk Economic Development Authority
Hugh Cohen
Cohen Investment Group
Richard Counselman
S.L. Nusbaum Realty Co.
Graham Covington
Covington Contracting, Inc.
Donnie Cross
Ashdon Builders
Richard Crouch
Vandeventer Black, LLP
Jason Deans
McPhillips, Roberts & Deans, PLC
John Domanski, Jr.
Accurate Marine Environmental, Inc.
Matt Ellmer
Priority Automotive
Billy Ennis
Virginia Gentlemen Foundation
Ted Enright
S.L. Nusbaum Insurance Agency
George Fox
Wheeler Interests
Ryan Gore
Mulkey & Company, P.C.
C. Wiley Grandy, VI
Crenshaw, Ware & Martin, P.L.C.
Rob Green
Caliper Inc.
Ross Greene
Pender & Coward, P.C.
Christopher J. Hamilton
Hamilton Realty
Porter Hardy, IV
Smartmouth Brewing, LLC
Byron Harrell
Davenport & Co
Albert Hartley
Hartley Law Group
Jason Head
Jason Head, PLC
Edward Hewitt
Viridian Homes, LLC
Kathryn Hoover
Nancy Chandler Associates, Inc.
Randolph Hoover
Va Turf Management
Daniel Howell
Troutman Sanders LLP
Michael Hull
Mosquito Joe
Christopher John
Byrd & Baldwin Bros. Steakhouse
Jaime Keogh
Jaime E. Keogh, CPA, CFE
Danny Kline
Payday Payroll Services
Kevin Knaack
Standard Calibrations, Inc.
Russell Lyons
Coastal Hospitality Associates, LLC
Jason Magruder
Morgan Marrow Company
John Mason
Robinson Development Inc.
Jeremy McLendon
Continental Realty Services
Brian Mello
Drucker and Faulk
J.D. Miles, IV
J.D. Miles Roofing
Willis Miller
CMA - CGM
Thomas Minton
Minton Interests
Jason Murphy
Norfolk Marine Co.
Nick Nestor
Oceanside Structures, Inc.
L. Christopher Noland
Signature
Kristen O’Connor
Troutman Sanders LLP
Ellen Sanders-Pelstring
The Bow Group
10 | Monarch Financial Holdings, Inc.
Jennifer Pfitzner
Saunders, Matthews & Pfitzner, PLLC
Billy Poynter
Kaleo Legal
Jonathan Reed
Kaufman & Canoles P.C.
Cart Reilly
Wolcott Rivers Gates
Laura Rixey
Kaufman & Canoles
Jim Savin
Dollar Tree
Andrew Schaubach
Schaubach Companies
Damian Seitz
Clark Nexsen, Architecture & Engineering
Clark Simpson
Worldwide Express
Katherine Simpson
Virginia Beach School System
John (Cappy) Sinclair, DDS
Coastal Cosmetic Dentistry
Brooks Sinnen
Sinnen Green & Associates
Jeff Snader
Charles W. Snader, P.C.
Christopher E. Todd
Colliers International
Jane Tower
Waypoint Advisors
Joe Verser
Heath, Overbey & Verser, PLC
Jason Vita
Portfolio Recovery Associates
Brian Ward
Professional Printing Center
Brian Whitehurst
Southeastern Mechanical Inc.
T. Wayne Williams
Williams DeLoatche, P.C.
Clay Winn
Winn Nursery of Virginia
Wendall Winn
Winn Nursery of Virginia
Russell Young
Va Port Authority
Hal Yuill
First Potomac Management, LLC
LOCATIONS
Monarch Bank
Chesapeake
•
Newport News
•
Norfolk
Richmond
•
•
Virginia Beach
•
Williamsburg
OBX Bank
Kitty Hawk
•
Nags Head
Monarch Bank Private Wealth
Williamsburg
•
Norfolk
Monarch Mortgage Virginia
Alexandria • Chesapeake • Fairfax • Fredericksburg • Manassas
Newport News • Norfolk • Oakton • Richmond • Virginia Beach • Woodbridge
Monarch Mortgage Maryland
Annapolis
•
Greenbelt
•
Crofton
Frederick
•
•
Rockville
•
Towson
•
Waldorf
Monarch Mortgage North Carolina
Charlotte
•
Elizabeth City
•
Kitty Hawk
•
Wilmington
Monarch Mortgage South Carolina
Greenwood
Advance Financial Group
Chesapeake
•
Newport News
•
Norfolk
•
Suffolk
•
Virginia Beach
Coastal Home Mortgage
Virginia Beach
Real Estate Security Agency
Chesapeake
•
Virginia Beach
SHAREHOLDER INFORMATION
Investor Relations & Financial Statements:
Monarch Financial Holdings, Inc. files an annual report on Form 10-K and quarterly
reports on Form 10-Q with the Securities and Exchange Commission. A copy of the reports
may be obtained on our Web site at www.monarchbank.com.
Transfer Agent & Shareholder Questions
Our stock transfer agent is Computershare
P.O. Box 30170, College Station, Texas 77842
(800) 368-5948
Stock Listing
Current market quotations for the common stock of Monarch Financial Holdings, Inc.
are available on the NASDAQ Capital Market under the symbol MNRK.
Member FDIC
2014 Annual Report | 11
OUR FAMILY OF COMPANIES
www.monarchbank.com