Monarch Financial Holdings Earns Sandler O'Neill's Sm-All Star Award for Financial Performance
28 Septembre 2015 - 2:49PM
Monarch Financial Holdings, Inc., parent of Monarch Bank,
(NASDAQ:MNRK) announced it has been named one of the top performing
banks in the nation by investment banking firm Sandler
O'Neill. This was the fourth time Monarch has been recognized
with this award since 2007, and places Monarch in the top 8% of
banks nationwide in terms of performance. Sandler notes the
Sm-All Star approach is a starting point to identifying high
quality companies before they are discovered by Wall Street.
"We are once again honored to be named one of the top performing
banks in the country. As noted by Sandler O’Neill, this
year’s winners had higher hurdles to be recognized, as banks across
the country have improved their overall performance. While
four Virginia banks made the cut, we were the only bank recognized
that serves the Hampton Roads and Outer Banks markets," stated Brad
E. Schwartz, Chief Executive Officer. "Through this continued high
performance we are able to deliver exceptional service, the newest
technologies, and valuable financial solutions to our clients as
well as hire the best bankers, reward our shareholders, and give
back to our communities."
In its “Class of 2015 Bank and Thrift Sm-All Stars" report,
Sandler O'Neill recognized the 34 top performing
small-capitalization institutions among a field of 435 publicly
traded banks and thrifts in the U.S. with stock market values of
less than $2.5 billion. The largest bank to be recognized was
$17.8 billion in total assets and the smallest was $493 million in
total assets.
Inclusion as a Sm-All Star was based on Monarch’s performance on
seven financial performance measurements. To assess
fundamental momentum in the evaluation, growth trends in (1)
earnings per share, (2) loans, and (3) deposits were evaluated. As
a measure of profitability, (4) return on average equity was
included. In terms of asset quality, (5) nonperforming assets
to loans plus other real estate, and (6) net loan charge-offs.
Finally, (7) tangible common equity capital to total assets
was used as an indicator of capital strength. Overall the
banks recognized delivered better bottom line results that are
markedly better than the industry as a whole.
Sandler O'Neill & Partners is a New York-based investment
banking and advisory firm that specializes in financial
institutions.
Monarch Financial Holdings, Inc. is the one-bank holding company
for Monarch Bank. Monarch Bank is a community bank with ten
banking offices in Chesapeake, Virginia Beach, Norfolk, and
Williamsburg, Virginia. Monarch Bank also has loan production
offices in Newport News and Richmond, Virginia. OBX Bank, a
division of Monarch Bank, operates offices in Kitty Hawk and Nags
Head, North Carolina. Monarch Mortgage and our affiliated
mortgage companies have over thirty-five offices with locations in
Virginia, North Carolina, Maryland, and South Carolina. Our
subsidiaries/divisions include Monarch Bank, OBX Bank, Monarch
Mortgage (secondary mortgage origination), OBX Bank Mortgage
(secondary mortgage origination), Coastal Home Mortgage, LLC
(secondary mortgage origination), Fitzgerald Financial, LLC
(secondary mortgage origination), Advance Mortgage (secondary
mortgage origination), Monarch Bank Private Wealth (investment,
trust, planning and private banking), Monarch Investments
(investment and insurance solutions), Real Estate Security Agency,
LLC (title agency) and Monarch Capital, LLC (commercial mortgage
brokerage). The shares of common stock of Monarch Financial
Holdings, Inc. are publicly traded on the Nasdaq Capital Market
under the symbol “MNRK”.
This press release may contain “forward-looking statements,”
within the meaning of federal securities laws that involve
significant risks and uncertainties. Statements herein are based on
certain assumptions and analyses by the Company and are factors it
believes are appropriate in the circumstances. Actual results could
differ materially from those contained in or implied by such
statements for a variety of reasons including, but not limited to:
changes in interest rates; changes in accounting principles,
policies, or guidelines; significant changes in the economic
scenario: significant changes in regulatory requirements; and
significant changes in securities markets. Consequently, all
forward-looking statements made herein are qualified by these
cautionary statements and the cautionary language in the Company’s
most recent Form 10-K and 10-Q reports and other documents filed
with the Securities and Exchange Commission. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
Contact: Brad E. Schwartz – (757) 389-5111, www.monarchbank.com
Monarch Financial Holdings, Inc. (NASDAQ:MNRK)
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