FA L L 2 0 0 6

                             RECEIVE MORTGAGE MONEY INSTEAD OF
                             PAYING IT, WITH A REVERSE MORTGAGE
                             If you are at least 62 years of age and       advance; as a credit line account that
                             own your home, you can turn the home’s        enables you to decide how much and when
                             value into cash without having to repay       to take money out; or as a combination of
                             the loan every month. This is possible        the above. You don’t even need to have
                             through a reverse mortgage, a loan against    income to qualify. The loan is typically paid
                             your home that you never have to pay          back only when the borrower moves out
                             back as long as you live there. The           of the house, sells the house, or passes away.
                             amount of money you’re eligible to
                             receive depends on a number of factors,       If a reverse mortgage sounds right for
                             including your home’s appraised value,        you, or for more information, stop by
                             your age, the cost of the loan, and any       any Monarch location or call Monarch
                             limits set by the FHA or regional entities.   Home Funding at 757-222-2149. Our
                                                                           experienced lenders offer local decision-
                             There are a number of ways for you to         making for quick and easy loan closing
                             receive your money: as a one-time, single     with Monarch’s guaranteed high level
                             lump sum; as a regular monthly cash           of service. ◆

                             FROM FOOTBALL QB TO BUSINESS QB
                             Meet Banker Dan Gonzalez.                     and what he
                                                                           calls “the
 CONTENTS:                   If his time as an NFL quarterback taught      Monarch
                             Dan Gonzalez anything, it’s that teamwork     vision.” He
 • Advantages of a Reverse   and perseverance make a great winning         believes there’s
   Mortgage                  combination. The combo is certainly           an important
 • It’s All About Teamwork   helping Dan become a big player with          place for
                             local businesses, helping them finance        strong
 • Profile: Dennis Ellmer                                                  community
                             new construction, renovations and
 • We Can Do Business        expansions from our Chesapeake office.        banks that
 • What Is The Virginia                                                    are intimately
   Asset Group?              Dan earned both his BA and MBA from           tied to local
                             East Carolina University before starting      businesses
                             his Pro career with the Dallas Cowboys        and the
                             and Miami Dolphins. Today, he still gets      community.         Dan Gonzalez, Vice President
                             his kicks by assisting the coach with the     He’s proud of             757-222-2147
                             offensive line at Indian River High School.   the personal and highly responsive service
                                                                           that Monarch provides.
                             Dan began his financial career with a big       national bank, but moved to Monarch           “It’s about building lasting relationships,”
      757-222-2100           because of the bank’s strong leadership,      Dan said. We’re just glad he’s on our team. ◆
         THE “VIRGINIA                                          MESSAGE FROM                                      William F.
                                                                                                                 Rountree, Jr.
         ASSET GROUP”                                           THE PRESIDENT                               President & CEO

                                                          I am extremely pleased to welcome you           future, and
                                                          to the first issue of your new Monarch          watching your
          INSURANCE                                       Flyer newsletter. On these pages you will       dreams take
                                                          find an interesting and helpful collection      shape. You trust Monarch to offer the
                 Monarch recently formed a new            of stories and articles. Use the Flyer as
                                                          an important financial tool, as insight
                                                                                                          smartest financial advice and to put the
                                                                                                          best person on that very important job.
                 company dedicated to the expert
                 delivery of investment management,       into your bank and some of our people           And I know that you sleep better knowing
                 insurance and financial planning         who serve you, and as a reminder of why         that it’s all happening right here, right
                 solutions for individuals and busi-      you put your trust in us in the first place.    down the street. Locals serving locals!
                 nesses. The Virginia Asset Group
                 name has been known for years in         Beyond that, and to fill this column today,     So enjoy your inaugural Monarch Flyer
                 the Hampton Roads area, and is           I will heed the advice of my freshman           and get to know a few things yourself.
                 the new name for Monarch                 English teacher who once said to a par-         Such as how a reverse mortgage could be
                 Investments. Mr. Darin M. Ely is         ticularly anxious student staring at a          a smart move. Or how we helped raise
                 the company’s president, and he is       blank piece of paper, “When in doubt,           $375,000 for charity, and for whom. Or
                 excited about being part of the          write what you know.” So, here is what          which one of our commercial bankers
                 Monarch team and serving Monarch         I know: Monarch Bank is a community             came later to the banking business because
                 clients and shareholders with their      bank in every sense of the word. I know         he was throwing footballs around the
                 financial needs.                         that we are a better bank simply because        NFL. Enjoy!
                                                          of terrific employees and thousands of
                 Virginia Asset Group, currently has      clients who choose to make Hampton              Truly yours,
                 seven licensed investment and/or         Roads a better place to live every day.
                 insurance professionals serving
                 Hampton Roads and the Outer              I know that you care about seeing your          William F. “Tree” Rountree, Jr.
                 Banks. The new headquarters is           money grow, planning your family’s              President & CEO
                 at 621 Lynnhaven Parkway in
                 Virginia Beach with services also        CHILDREN’S CHARITIES SEE GREEN
                 provided throughout Monarch’s
                 eight-office network.                    The weather was beautiful and so                          Benefiting Organizations
                                                                                                         Academy of Music (for           Khedive Hospital
                                                          were the results at Monarch Bank’s                children)                        Transportation (Angel
                                                                                                         ACCESS College Foundation           Flight)
                 The Group offers a no-cost               5th Invitational Charitable Golf               Boys & Girls Club of South      My Children’s House of
                                                                                                            Hampton Roads                    Hope
                 consultative visit that is a great way   Tournament to benefit children’s               Cape Henry Collegiate School    The Noblemen (formerly
                                                                                                         CASA (Court Appointed               Robin Hoods of Virginia
                 to begin getting your financial          charities of South Hampton Roads.                 Special Advocates)               Beach)
                                                                                                         Chesapeake Bay Academy          Norfolk Botanical Children’s
                 “house” in order. They can be            Held at Aeropines Golf Course on               Chesapeake Care A Free              Garden
                                                          September 20th, the outing raised                 Clinic                       Norfolk Christian School
                 reached at 757-747-2556. ◆                                                              Chesapeake Health               Norfolk Collegiate School
                                                          over $120,000, with the proceeds                  Foundation – Hope for        Prevent Child Abuse
                                                                                                            Tomorrow Campaign                Hampton Roads
                                                          to benefit 17 area children’s                  Children’s Hospital of          REACH (Reading Enriches
                                                                                                            The King’s Daughters             All Children)
                                                          organizations. William F. Rountree,            Children’s Special Olympics –   Ronald McDonald House
                                                          President and CEO of Monarch,                     Polar Plunge Winter          Samaritan House Safe
                                                                                                            Festival                         Harbor
                                                          said “Anytime you can have this                CHIP (Chesapeake Health         Seton House Crisis Shelter
                                                                                                            Investment Program)              and Counseling Center
                   Monarch Bank’s Invitational            much fun while doing so much                   Edmarc Hospice for Children         for Teens
                   Golf Tournament Proceeds               good for the children, it’s a great
                                                                                                         Equi-Kids Therapeutic           St. Jude’s Children’s
                                                 $120                                                       Riding Program                   Research Hospital
                                                                                                         First Tee                       St. Mary’s Infant Home
(In Thousands)

                                         $100             day.” As you can see from the chart            ForKids                         Stonebridge School
                                  $85                                                                    Hampton Roads Youth Center      United Way
                                                          and list of recipients, Monarch has
                                                                                                         Hope Haven                      Virginia Beach Educational
                          $40                             raised $375,000 in net proceeds in             Horizons Hampton Roads              Foundation
                   $30                                                                                   Judeo-Christian Pre-school      The Virginia Beach
                                                          the tournament’s five-year history.            Junior Achievement of               Foundation
                                                                                                            Hampton Roads                YMCA – Children’s Programs
                                                          A big bear hug for all who sponsored           Juvenile Diabetes Research      Young Life Capernaum
                  2002    2003    2004    2005   2006
                                                          and attended this wonderful event. ◆              Foundation                   Young Life - Chesapeake
Ad star is client, shareholder and               Not to mention the dark-haired woman         ad phenomenon. The immensely popular
board member.                                    who is always two steps behind him,          ads have made Ellmer and his co-star,
                                                 just wanting to say “thank you.”             actress Jennifer Brown, familiar faces.
If you’ve watched any television or read                                                      And, they have helped Ellmer’s dealership
the local newspaper in the past few              Dennis Ellmer is president of Priority       stand apart from the competition in the
years, you’ve probably seen this man.            Auto Group and, unexpectedly, a local        fierce Hampton Roads auto market,
                                                                                              which was his goal.

                                                                                              “I want to be different in how I treat
                                                                                              customers and in the service I provide,”
                                                                                              he said. He saw the same commitment to
                                                                                              personal attention and service on his
                                                                                              first visit to Monarch Bank, and that’s
                                                                                              when he decided to start both a personal
                                                                                              and a business relationship with the
                                                                                              bank. Mr. Ellmer now also sits on the
                                                                                              Monarch board of directors.

                                                                                              Like Ms. Brown, we too just want to say
                                                                                              “thank you” to Dennis Ellmer for all
                                                                                              his support. ◆
     If you see Dennis Ellmer on TV, chances are his biggest fan, actress Jennifer Brown,
                      is right behind him waiting to say "Thank You."

    “TREE” ROASTED,                              “WE CAN DO BUSINESS” MEANS MONARCH
     $200,000 RAISED                             Recently unveiled
                                                 print and television
                                                 ads for Monarch
                                                 highlight the bank’s
                                                 dedication to the
                                                 success and growth
                                                 of area businesses.
                                                 Supported by the

 How do you raise $200,000 for                   new tagline, “We
                                                 Can Do Business,”
 deserving Hampton Roads children?
                                                 the ads remind the
 If you’re Bill “Tree” Rountree, you
                                                 professional commu-
 allow a roomful of people to have fun
                                                 nity that Monarch is
 at your expense. That’s exactly what
                                                 an alternative to big,
 the Monarch president did, when
                                                 non-local banks.
 friends and colleagues “roasted” him
                                                                                              Hampton Roads as a true community
 in April at the Cavalier Beach Club.
                                                 The two television spots focus on small      bank with local decision makers and the
 The money raised that evening                   businesses, in this case a dental practice   highest level of personal client service.
 benefited Horizons Hampton Roads,               and a construction company. Print ads
 a long-term enrichment program that             introduce four Monarch business              Monarch not only offers all types of real
 offers academic assistance, swimming            bankers: Jim Ferber, Dan Gonzalez,           estate, construction and business loans
 instruction, field trips, music and art         Kim Savage and Jeremy Starkey.               but also great cash management tools like
 to low-income Norfolk and Virginia                                                           sweep accounts, ACH and online banking
 Beach public school students. ◆                 Featuring real bankers was a logical         with a direct QuickBooks interface. We
                                                 choice since Monarch is unique in            really can do business! ◆
                                          58 COMMUNITY LEADERS SERVE MONARCH
                                          Look at the list of Monarch board               and guidance they lend the bank.
                                          members and there’s a pretty good
    A REAL HIT                            chance that you’ll find the name of             You’ll see our board members volunteering at
                                          a friend, neighbor, co-worker or                schools and churches, leading fundraising
Where do you get a high yielding          someone you’re familiar with. And
                                          that’s no accident. We set out to fill
                                                                                          efforts for area charities and nonprofits,
                                                                                          coaching our children and a host of other
money market account that is set by
                                          our board with individuals who are              meaningful endeavors. We thank all of
the market and not at the whim of
                                          deeply involved in the local community,         them for their dedicated service, both at
your banker? At Monarch of course.
                                          in addition to the wisdom, experience           Monarch and in our neighborhoods. ◆
Monarch’s new Prime Money Market
                                          BOARD MEMBERS:                 Christopher (Chris) J. Ettel       Harrison J. Perrine
account is tied to the Wall Street                                       Robert (Bob) J. Eveleigh           D. Scott Pritchett
Journal prime rate. Monarch even          Edward (Ed) J. Amorosso        William H. Fuller, Jr.             Harry R. Purkey, Jr.
                                          Herbert (Herb) L. Ansell       Jane C. Gaffney                    James E. Reece II
offers tiered rates that reward higher    Lawton H. Baker , CPA          Marc H. Glickman, M.D.             Adam W. Ritt
                                          Cassell D. Basnight            Taylor B. Grissom                  William (Tree) F. Rountree, Jr.
balances. If you’re an investor who       David J. Benjack               David F. Host                      Virginia (Ginny) Sancilio
                                          Jeffrey (Jeff) F. Benson       Kevin L. Hubbard                   Marc V. Sauter
maintains relatively high balances        Randal (Randy) K. Bregman      Michael (Mike) A. Inman            Wayne C. Sawyer
                                          Eric N. Bucklew                Dennis R. Jones                    Dwight C. Schaubach
and needs the ability to quickly access   Brian (Scott) S. Burgess       James (Jim) P. Karides, CPA        Brad E. Schwartz
your funds, our exclusive Prime           Mark R. Christian              Aubrey (Gene) E. Loving, Jr.       Thomas (Tom) M. Simpson
                                          Brian M. Clements              Michael W. McCabe                  J. (Randy) Randolph Stokes
Money Market Account may be for           Erik S. Cooper                 William H. (Joe) McCutcheon, Jr.   Lawrence (Larry) L. Sutton
                                          Joe P. Covington, Jr.          Alfred (Al) B. Midgett             Jeffrey (Jeff) J. Wermers
you. Call 757-222-2100 or stop by to      Robert Gatewood Dashiell III   William (Shep) S. Miller III       Jon S. Wheeler
                                          Dennis R. Deans, CPA           Terry L. Neal                      Barclay C. Winn
open your account today. ◆                Vernon “Richard” Divers, Jr.   Robert (Bob) M. Oman               William (Bill) H. Williard
                                          Lorna C. Donatone              Sidney (Sid) M. Oman               Lauren V. Wolcott
                                          Dennis M. Ellmer               Elizabeth (Beth) T. Patterson      Kirk J. Woodruff

                                                                                                                              PRSRT STD
                                                                                                                             U.S. POSTAGE
                                                                                                                            NORFOLK, VA
                                                                                                                           PERMIT NO. 112
      1101 Executive Blvd.
     Chesapeake, VA 23320

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