Monarch is one of only 49 banks in the country to be named to the Bank Honor Roll out of nearly 400 banks screened by KBW. Monarch is one of only two Virginia-based banks that won the award three years in a row, and is the only Hampton Roads-based banking company to win the award for the past three years.
"We are delighted to make KBW's honor roll for a third year in a row based on our strong financial performance," said Brad E. Schwartz, Chief Executive Officer. "This accomplishment is the result of the continued dedication and focused work of our employees and boards of directors."
Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet KBW's criteria for superior performance. In their news release, KBW said it selected banking companies for the Bank Honor Roll to acknowledge companies that have achieved positive earnings per share growth over the last decade, regardless of the economic environment. In terms of stock price performance, Bank Honor Roll companies significantly outperformed the banking industry between 2007 and 2012. KBW also found the Honor Roll members to have better-than-industry performance ratios and growth.