NASDAQ:MNRK

As of June 24, 2016, Monarch Bank, Inc was acquired by TowneBank. Monarch Bank, Inc, together with its subsidiaries, offers commercial and retail banking, investment and insurance sales, and mortgage origination and brokerage services in the South Hampton Roads area of southeastern Virginia, the United States. It offers a range of deposit services, including checking accounts, savings accounts, money market accounts, and certificates of deposit; and various consumer loans, such as home equity lines of credit and loans; and secured and unsecured loans for financing automobiles and home improvements, and education and personal investments. The bank also provides safe deposit boxes, telephone banking, Internet banking and Internet cash management services, travelers’ cheques, check and bankcard services, direct deposit of payroll, and social security checks and automatic drafts for various accounts. In addition, it offers mortgage real estate loans for construction, acquisition, and development purposes, as well as mortgage brokerage services. Monarch Bank also provides financial planning, and insurance and investments sales and management services. As of June 30, 2006, the bank operated seven offices consisting of three in Virginia Beach, two in Norfolk, and two in Chesapeake of Virginia. It serves local businesses, professionals, corporate executives, and individuals. The company was founded in 1998 and is headquartered in Chesapeake, Virginia.