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Monarch Bank (MNRK) |
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CEOCFO Current
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This is a printer friendly page! Monarch Bank, a locally owned and independent
community bank, is a responsive customer-oriented bank providing exceptional service and
building lasting relationships to individuals and businesses Monarch Bank (MNRK-NASD) a community bank
headquartered in Chesapeake, Virginia, was founded to fill the need for a responsive
customer-oriented bank which provides superior service to individuals and businesses in
the South Hampton Roads Community (Southeastern Virginia). Monarch Bank is sensitive to
the needs of the community and as a locally owned and independent community bank, they
respond quickly and directly to their customers. The company takes its commitment to the
community seriously and believes that they have the experienced staff and technological
resources needed to deliver a comprehensive array of financial products and services. “The typical customer is a small to mid-sized business.”
Offers Mr. William F. Rountree, Jr., President and CEO of
Monarch Bank, “Flexibility, personal service, knowing the local
market and having locals dealing with locals has been our formula. We also have Private
Banking which deals with professionals and corporate executives. We do have some special
products we work with, especially in Private Banking. One of the neat things we have done
in our Private Banking is exclusive partnering with a concierge service. When a new client
joins our private banking group, they immediately can take advantage of those concierge
services. Our employees are also offered the same concierge service. We have drycleaners
coming to the bank, and picking up peoples laundry and then bringing it back.”
Pointing to what the Bank has done to enhance its position during recent economic
turbulence, states, Mr. Rountree, “During
the last two or three years, we have been working to develop sources of “other income”
such as our residential mortgage company, Monarch Home Funding. We now have our own
investment company called Monarch Investments. We have an insurance company, Bankers
Insurance, that we own with 28 Virginia community banks. We have just acquired a
commercial mortgage company.” Addressing investors Mr.
Rountree says, “Investors should know that we are well
positioned for interest rates when they start to rise. The balance sheet is very asset
sensitive with almost 60% of our outstanding loans rate-sensitive. The other thing that
investors do not know about Monarch is that we were posed for the future as far as “other
income”. Starting our bank at a time when rates were at historic lows has helped us
because I feel that if we can make money in this environment, then we can succeed in just
about any environment. The last thing is that we are fanatical about loan quality; we have
no loans that are ninety days past due, no-non accruals and no charge-offs. Since our
inception of April of 1999, we have only had one charge off and that was $500 dollars!” Monarch Bank is committed to providing quality
service to businesses and individuals. They offer a full range of banking services for
both consumers and businesses. With the latest in bank technology, they offer on-line
internet banking, check imaging, 24-hour telephone banking, commercial courier service,
customized loan and deposit products, debit cards, merchant bankcard services, safe
deposit boxes, automated teller machines and many other traditional banking products and
services. When it comes to banking services for
your business, Monarch Bank understands that "one size doesn't really fit all."
Your business has different goals and financial needs than other companies. So whether
you're large or small, just getting established, or have been in business for many years,
Monarch Bank has custom products to help you reach your goals. All services are designed
to grow as your business grows. Monarch Bank offers a variety of personal banking deposit
accounts to meet your individual needs: regular and interest checking accounts, statement
and money market savings, certificates of deposit, and IRA's. All deposit accounts are
insured up to $100,000 by the FDIC. |
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