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  • maine1964 maine1964 Mar 9, 2013 9:41 AM Flag

    Larger Banks Looking to Get into the Norfolk/VA. Beach Area Will Look at MNRK!

    Full year 2012 highlights are:

    Record annual net income of $12,824,869, up 80%
    Net income available to common shareholders up 105%
    Basic earnings per share of $1.54, up 97%
    Total assets reach $1.21 billion mark
    Non-performing assets drop to 0.30% of total assets
    $2.7 billion in mortgage loans closed

    Non-performing assets were 0.30%, which remains significantly below that of our local, state, and national peer group.

    Deposits increased $162 million year over year (Impressive!!!!!!)

    Monarch was again awarded the highest 5-Star "Superior" rating by Bauer Financial, an independent third-party bank rating agency that rates banks on safety and soundness.

    Total risk-based capital to risk weighted assets at Monarch Bank equaled 12.73%, significantly higher than the required level to meet the highest rating of "Well Capitalized" by federal banking regulators.

    Preferred shares are a thing of the past...

    While announced earlier, we are proud of being recognized as the second largest community bank based on deposits in the Greater Hampton Roads Metropolitan Area."

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21.000.00(0.00%)Feb 1 10:35 AMEST