1187 Monarch_ABCD.indd

Document Sample
1187 Monarch_ABCD.indd Powered By Docstoc

                                                                                                                                  SPRING 2011
                                                                                                                                  VOLUME 17

       Monarch Bank announces
         “Top Flight” Award
        $40,000 prize winner
                                        Congratulations to Valkyrie Enterprises LLC

   T H E C O M M U N I T Y V O T E S H AV E                                                                              campaign asking the local
                     ... thank you for
 B E E N TA B U L AT E D                                                                                                 community to vote for their
 voting for your favorite “Top Flight”                                                                                   favorite business. Valkyrie
 Award semifinalist. Valkyrie Enterprises                                                                                Enterprises of Virginia Beach
 LLC was selected as the winner of the                                                                                   received the most votes after the
 Monarch Bank 2011 $40,000                                                                                               April 30 online and text-to-vote
 “Top Flight” Award prize package.                                                                                       polls were tabulated.
   As the top business bank in                                                                                                  “Thank you to all the
 Hampton Roads, Monarch put our                                                                                            “Top Flight” entrants for
 money where our mouth is: $10,000                                                                                         supporting our inaugural year,”
 worth, in fact. The cash amount                                                                                           said Brad Schwartz, CEO of
 included in our $40,000 “Top Flight”                                                                                      Monarch Bank. “Collectively
 Award prize package, along with a                                                                                         the candidates redefined a down
 professional business service package                                                                                     economy, growing operating
 valued at $10,000 from accounting,      Picture above (left to right):                                                    revenue $100 million and adding
 tax and advisory firm Cherry, Bekaert   Brad Schwartz, Joanne Brooks, Jeff Benson and Neal Crawford                        467 new jobs to southside
 & Holland, L.L.P.; a professional                                                                                          Hampton Roads since 2007.”
 business communications package valued at $10,000 from Cox Busi-
                                                                                     Valkyrie Enterprises is a defense contractor that services the
 ness; and an advertising package, including the creation of a 30-second
                                                                                   Department of the Navy and other Department of Defense clients.
 commercial and cable airtime, valued at $10,000 from Cox Cable Media.
                                                                                   Founded in 2007, Valkyrie has received the title of “Best Places to Work
 Norfolk-based law firm Vandeventer Black also sponsored the award.
                                                                                   in Virginia” and was ranked No. 1 in the mid-sized category. Valkyrie has
   An independent panel of judges reviewed 95 entries and selected                 grown from 36 employees at the end of 2007 to over 130 today. Valkyrie
 three semifinalists: Mymic, Osage of Virginia and Valkyrie Enterprises.           plans for more growth – by implementing a campaign to fill 20 job
 The three semifinalists were chosen based upon a formula that took into           openings and enhance its technological capabilities and productivity.
 account: growth in both revenue and full-time staff employed over the             Most recently, Gary Lisota, president and CEO of Valkyrie Enterprises
 company’s three most recent completed fiscal years; descriptive narrative         was also awarded The Hampton Roads Chamber of Commerce 2011
 on how the prize package will be implemented; and community service.              Leadership Award given to an individual who demonstrates outstanding
 The semifinalists appeared in a month-long newspaper, TV and online               leadership within the Hampton Roads small business community. ◆
    F I N A N C I A L U P D AT E

                                                                             Monarch showcases four homes

Record 2011 First Quarter
   • Net income of $1,373,257,
     up 22.6% from 2010
   • Diluted earnings per share of $0.16,                  Space Exploration House, Robert M. Letchworth             The Celebration House, J.F.Schoch
     up from $0.13 one year prior
   • Improved deposit mix with growth
     in checking and money market accounts
   • Closed $300 million in mortgage loans
   • Non-performing assets of 1.26%
     remain low and better than most

                                                                        The Cecilia, Ore Builders                        The Cameron Lea, TCI Inc.

  Monarch Named to the                                M    ONARCH IS A PROUD SUPPORTER of the Tidewater Builders Association’s Spring Homearama
                                                    2011 in Virginia Beach’s Eagle’s Nest community. Monarch Bank’s Real Estate Construction Group
  KBW Bank Honor Roll                               and Monarch Mortgage assisted with the construction financing and residential mortgage financing
     Monarch is one of only 40 banks named          of four of the nine homes featured. The show runs May 28 - June 12, noon until 9:00 p.m. daily.
  to the KBW Bank Honor Roll out of nearly 400      For more information visit ◆
     banks screened. KBW, Inc. is a full-service
investment bank that specializes in the financial

                                                         Monarch celebrates
   services sector. Monarch is one of only four
   Virginia-based banks and the only Hampton
        Roads-based bank to make the list.

                                                        new Ghent office with
    In its news release, KBW said that the 40
      banking companies on this year’s list,
 on average, outperformed both the banking

                                                      ribbon-cutting ceremony
industry and the overall stock market in terms
of stock price performance during the five-year
         period between 2005 and 2010.

                                                                                                         M ONARCH WAS PARTICULARLY PLEASED TO
        SHAREHOLDERS                                                                                   HAVE N ORFOLK Mayor Paul D. Fraim on hand to help
                                                                                                       with the ribbon cutting to celebrate the opening of
                                                                                                       its new bank and mortgage office in Norfolk’s historic
                                                                                                       Ghent section, on 21st Street. Our three-story, 18,000
                                                                                                       square-foot building replaces our previous location at
                                                                                                       the Palace Shops. Monarch’s new banking office has two
                                                                                                       drive-through lanes as well as an ATM.
                                                                                                          “We understand the Norfolk market from years of
      Monarch Increases                                                                                experience, and now we are ready to put that experience
                                                                                                       to work with our new full-service location in the heart of
      Cash Dividend on                                                                                 Ghent,” said Neal Crawford, president of Monarch Bank,
       Common Stock                                                                                    “With the continued pullback in lending by banks both
    Shareholders of record on June 1, 2011                                                             large and small, we have been successful at building new
        will receive a semi-annual cash                                                                client relationships that should result in increasing
         dividend of $0.08 per share.
                                                     Pictured above (from left to right): Paul Fraim
                                                                                                       loans and deposits in Norfolk during the year.” ◆
     The dividend is payable on June 22.               and Ben Miles; Don Price, Barclay Winn,
                                                       Jeff Benson, Neal Crawford, Paul Fraim,
                                                     Brad Schwartz, Ben Miles and Barbara Lane
                                                                     MONARCH FLYER

                 Meet Monarch Bank’s New Commercial Real Estate Finance Group
                                  M ONARCH ’ S C OMMERCIAL R EAL E STATE Finance Group (CREF), has announced a collaboration on commercial real
                                estate financing transactions with Walker & Dunlop, LLC (NYSE: WD), one of the oldest and largest commercial mortgage
                                banking companies in the United States. Formerly known as Monarch Capital, the CREF Group will focus on the loan and
                                deposit needs of professional commercial real estate owners and developers. Through its relationship with Bethesda, Md.-based
                                Walker & Dunlop, the CREF group will also provide enhanced commercial mortgage banking services to its clients.
                                  The CREF Group of experienced bankers will offer the benefit of local competitive commercial real estate financing solutions
                                – including construction, mini-permanent, and permanent loans across all commercial real estate property types. The Monarch
                                CREF Group will be able to leverage the long-standing relationships Walker & Dunlop has developed with lenders, including
Jeremy Starkey                  Fannie Mae, Freddie Mac, HUD, life insurance companies, CBMS lenders, banks, REITS and pension funds.
(757) 961-0643
                                  “We’re excited about the new capabilities of this relationship,” said Jeremy Starkey, Senior Vice President, Monarch Bank
                                Commercial Real Estate Finance. “Walker & Dunlop is among the most respected commercial mortgage banking firms in the
                                country, and we’re honored to align ourselves with a company that will enable us to continue to offer our clients unmatched
                                  Added Ted Patch, Senior Vice President, Chief Production Officer at Walker & Dunlop LLC: “We see this as a golden
                                opportunity to work with an institution that shares our values and we are encouraged by the growth this collaboration will bring.”
                                  The Monarch Bank Commercial Real Estate Finance Group will be co-managed by Senior Vice Presidents Jeremy Starkey
                                and Chas Wright and Mike Hull will serve as the Portfolio Manager. The CREF Group will be located in downtown Norfolk. ◆
Chas Wright
(757) 963-5601

       N E W B OA R D M E M B E R S

       Joining the board:

     Ron Costella        Ben Davenport                  Monarch’s 10th Annual
                                                       Charity Golf Tournament
 Capstone Corporation Davenport Management
 Chesapeake City Board  Leadership Board

                                                               Save the date Wednesday, September 14, 2011
                                                        J OIN US for a day filled with fun and fellowship to benefit local children’s charities in our
                                                      community. Established ten years ago by Monarch Bank’s founder, William F. “Tree” Rountree, Jr.
     Charlie Church              Bill Greene
     Getem Services       Atlantic Environmental      the annual tournament has raised over $1 million dollars to date.
    Norfolk City Board    Virginia Beach City Board     Tournament players play 18 holes of golf on Aeropines Golf Club’s two 18 hole Championship
                                                      Courses, the Tomcat and the Hornet Course. Registration and lunch begin at 11:00 a.m.,
                                                      with a shotgun start at 12:00 p.m. Dinner, awards and raffle will follow at 5:00 p.m.
                                                        Hurry! Reserve your sponsorship today! To confirm availability contact Allie Cheatham
                                                      (757) 389-5112 or ◆
                                                      Pictured above (from left to right): Dwight Schaubach, Brian Clements, Will Morrison, Barry Mathias, Debbie Mast,
                                                      Pam Ellyson, Brad Schwartz, Tree Rountree and Neal Crawford
    Victor Lewis, MD           Ramsay Smith
       Radiologist         Pembroke Enterprises
Virginia Beach City Board Virginia Beach City Board
                                                                                 MONARCH FLYER

                                                                                 It’s not too late
                                                                            to take advantage of low
Corporate Offices
1435 Crossways Blvd......................... (757) 389-5159

                                                                             mortgage interest rates
Monarch Bank / Chesapeake
Chesapeake / HQ
1435 Crossways Blvd., Ste. 200 ...... (757) 955-8624
Great Bridge
1034 S. Battlefield Blvd. ................... (757) 482-2727
750 Volvo Parkway............................. (757) 222-2100                   Don’t miss this opportunity to reduce monthly
Monarch Bank / Norfolk                                                           payments or buy the home of your dreams.
Norfolk / HQ
150 Boush Street, Ste. 201............... (757) 644-6860                       HETHER YOU ARE TRYING TO ESCAPE high payments due to your current interest rate or
Boush Street                                                            you are considering purchasing a new home, ultimately making a savvy long-term financial decision,
150 Boush Street ................................ (757) 228-7576        Monarch Mortgage has the right tools to make your financial dreams a reality. As rates continue to
500 W. 21st Street .............................. (757) 623-0055        linger at all-time lows, now is the perfect opportunity to purchase the home of your dreams at a low
                                                                        monthly payment or reduce your current payment by refinancing to a lower interest rate.
Monarch Bank / Virginia Beach
Virginia Beach / HQ                                                        When deciding to refinance, it’s important to review your mortgage and the big picture of your
222 Central Park Ave., Ste. 1560 ... (757) 309-4575                     financial goals. Monarch’s mortgage professionals take the time to get to know their clients and piece
Hilltop                                                                 together the right loan program and interest rate to meet each individual financial objective. Meeting
1635 Laskin Road ............................... (757) 309-4809
                                                                        with a trained loan officer to discuss the reasons why you are refinancing and the benefits that could
5225 Providence Road ..................... (757) 769-7500               be associated with the refinance will help arm you with the knowledge to go forward; educated and
Lynnhaven                                                               comfortable with your decision.
100 Lynnhaven Parkway.................. (757) 463-4100
Oceanfront                                                                As we embrace the summer season, take advantage of the low rates; “Rates have dropped back
3701 Pacific Avenue .......................... (757) 491-2000           to the lowest rates of 2011 and now may be a great time to look at refinancing or purchasing a
Town Center                                                             new home,” says Jack Lane, executive vice president and production manager of Monarch Mortgage.
4216 Virginia Beach .......................... (757) 416-7300
                                                                        As you consider refinancing or purchasing a new home look to mortgage professionals who have
Monarch Mortgage                                                        your best interest in mind. ◆
Virginia Beach / HQ

                                                                        Mymic & Osage of Virginia
2809 S. Lynnhaven Rd., Ste. 200 .... (757) 390-2200
750 Volvo Parkway............................. (757) 222-2149
320 W. 21st Street .............................. (757) 623-0055
                                                                           Congratulations “Top Flight” Award semifinalists
OBX Bank
Kitty Hawk
4629 N. Croatan Highway
                                                                          M    ONARCH KNOWS that small businesses are the backbone

PO Box 629 ........................................... (252) 261-9494   of America, and that’s no different here in Hampton Roads.
                                                                        “Monarch Bank started the award to help area businesses attain
Nags Head
                                                                        their goals,” said Neal Crawford, president of Monarch Bank.
2525 S. Croatan Highway
PO Box 1118 ......................................... (252) 449-1300    “The ‘Top Flight’ Award gives us the opportunity to recognize
                                                                        businesses that are making impressive strides. It is a distinguished
OBX Bank Mortgage ......................... (252) 261-9467
                                                                        honor to recognize our ‘Top Flight’ semifinalists Mymic and
                                                                        Osage of Virginia for their outstanding contribution of growth
                                                                        and job creation for our community.”                                 Picture above (left to right):
                                                                                                                                                 Bill Younger, Jay Bhatt and Neal Crawford
                                                                          MYMIC, a technology firm and defense contractor based
                                                                        in Portsmouth, is among the Roaring 20 fastest-growing firms
                                                                        in Hampton Roads, according to Inside Business. Founded in
                                                                        2000 by Tom Mastaglio and Bill Younger, the firm has doubled
                                                                        revenues each year from 2008-10, and it expects to grow revenue
                                                                        by 40 percent and manpower by about 20 percent in 2011.
                                                                        While many of its clients are defense-related, MYMIC plans
                                                                        expanding into health care and law enforcement.
                                                                          Osage of Virginia, a Native American owned, Woman-Owned
                                                                        Small Disadvantaged Business (WOSDB), provides management, Picture above (left to right):
                                                                                                                                             Michael Cree, Farley Peel and Brad Schwartz
                                                                        environmental consulting and planning services. Founded in
        4 5
       1 3 Cro ssways Blvd.                                             2004, clients call on the firm to attain and sustain regulatory compliance, identify and restore
                           3 20
       Ch e sap eake , VA 2 3
                                                                        contaminated sites, prevent or reduce pollution and conserve natural and cultural resources.
                                                                        Led by Farley Peel and Michael Cree, Osage prides itself on mixing pragmatic solutions with
                                                                        a responsibility to give back to the Hampton Roads community. ◆

Shared By: