July 24, 2016 4:38 PM ET

Banks

Company Overview of Monarch Financial Holdings, Inc.

Company Overview

Monarch Financial Holdings, Inc. operates as the bank holding company for Monarch Bank that provides various commercial and retail banking products and services for businesses, professionals, corporate executives, and individuals. Its deposit products include checking accounts, savings accounts, and time deposits. The company’s loan portfolio comprises consumer loans, including home equity lines of credit; professional lines of credit; and secured and unsecured loans for financing automobiles, home improvements, education, and personal investments, as well as real estate construction, acquisition, and development loans. Its loan portfolio also consists of secured and unsecured commercial loa...

1435 Crossways Boulevard

Chesapeake, VA 23320

United States

Founded in 1998

648 Employees

Phone:

757-389-5111

Key Executives for Monarch Financial Holdings, Inc.

Chief Financial Officer, Executive Vice President, Treasurer and Corporate Secretary
Age: 58
President of Real Estate Finance Group - Monarch Bank
Age: 59
President of OBX Bank
Age: 60
Market President of Norfolk - Monarch Bank
Age: 40
Business Banking President and Executive Vice President of Business Banking - Monarch Bank
Age: 61
Compensation as of Fiscal Year 2016.

Monarch Financial Holdings, Inc. Key Developments

Monarch Financial Holdings Files Form 15

Monarch Financial Holdings, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common stock, par value $5.00 per share under the Securities Exchange Act of 1934, as amended.

Monarch Financial Holdings, Inc. Requests Nasdaq To File With SEC A Notification Of Removal From Listing And/Or Registration Under Section 12(b) Of The Securities Exchange Act Of 1934, As Amended, On Form 25 To Delist And Deregister Shares

Effective June 24, 2016, Monarch Financial Holdings, Inc. completed its previously announced merger with TowneBank, pursuant to the Agreement and Plan of Reorganization, dated as of December 16, 2015, by and among TowneBank, the Company and Monarch Bank (Merger Agreement). At closing, the Company and its wholly-owned subsidiary, Monarch Bank, each merged with and into TowneBank, with TowneBank as the surviving company. As a result of the Merger, and pursuant to the terms and conditions of the Merger Agreement, each share of the company's common stock was converted into the right to receive 0.8830 shares of TowneBank common stock (Merger Consideration). In addition, the vesting of all restricted stock awards of the company accelerated upon consummation of the Merger. In connection with the closing of the Merger, the company notified the Nasdaq Stock Market (Nasdaq) on June 24, 2016 that, at the effective time of the Merger, each share of the company's common stock issued and outstanding immediately prior to such time, was automatically cancelled and converted into the right to receive the Merger Consideration. On June 24, 2016, the company requested Nasdaq to promptly file with the Securities and Exchange Commission (SEC) a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended, on Form 25 to delist and deregister the shares of the company's common stock. Upon effectiveness of such Form 25, the company intends to file with the SEC a certification on Form 15 under the Exchange Act requesting that the shares of the company's common stock be deregistered and that the company's reporting obligations under Sections 13 and 15(d) of the Exchange Act be suspended.

Monarch Financial Holdings, Inc.(NasdaqGM:MNRK) dropped from NASDAQ Composite Index

Monarch Financial Holdings, Inc. has been removed from Nasdaq Composite Index.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 17, 2015
--
Buyback
September 24, 2015
--
 

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