Monarch Bank in Chesapeake, Virginia (VA), NC
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Monarch Bank in Chesapeake, Virginia (VA), NC
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Monarch Bank - Overview

  • General
  • FDIC Certificate #: 34945
    Status: Active
    Federal Reserve ID: 2718345
    Bank Holding Company (Regulatory Top Holder): Monarch Financial Holdings, Inc (RSSDID: 3435386, Location: Chesapeake, VA)
    Date Established: April 14, 1999
    WWW: http://www.monarchbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 12 (Domestic: 12, Interstate: Yes)
    FDIC's unique #: 62119
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 14, 1999
    Last Structure Change Effective Date: May 01, 2006
    Last Structure Change Process Date: March 01, 2007
    Last Data Update: March 01, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 750 Volvo Parkway, Chesapeake, VA 23320
    County: Chesapeake City
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $909.3 mil
    Equity capital: $82.5 mil
    Deposits held in domestic offices: $744.8 mil
    Return on assets (ROA): 0.90% ($8.2 mil)
    Quarterly return on assets: 0.95% ($8.6 mil)
    Return on Equity (ROE): 9.51% ($7.9 mil)
    Quarterly return on equity: 10.12% ($8.4 mil)
    Net income: $7.6 mil
    Quarterly Net income: $2.1 mil
    Pretax return on assets: 1.31% ($11,911.3 mil)
    Quarterly Pretax return on assets: 1.30% ($11,820.4 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 551Total employees (full-time equivalent)
  • $909,258Total assets
  • $22,295Cash and due from depository institutions
  • $7,534Interest-bearing balances
  • $9,187Securities
  • $10,188Federal funds sold & reverse repurchase agreements
  • $809,264Net loans & leases
  • $9,930Loan loss allowance
  • $0Trading account assets
  • $23,094Bank premises and fixed assets
  • $3,369Other real estate owned
  • $1,236Goodwill and other intangibles
  • $909,258Life insurance assets
  • $30,625All other assets
  • $826,107Total liabilities and capital
  • $744,797Total liabilities
  • $606,237Total deposits
  • $744,797Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $70,928Trading liabilities
  • $0Other borrowed funds
  • $10,382Subordinated debt
  • $83,151All other liabilities
  • $82,537Total equity capital
  • $82,537Total bank equity capital
  • $0Perpetual preferred stock
  • $29,582Common stock
  • $32,149Surplus
  • $20,806Undivided profits
  • Memoranda
  • $614Noncurrent loans and leases
  • $211,555Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,292Income earned, not collected on loans
  • $0Earning assets
  • $2,024Long-term assets (5+ years)
  • $836,173Average Assets, year-to-date
  • $26,410Average Assets, quarterly
  • $842,106Volatile liabilities
  • $874,597Insider loans
  • $763,154FHLB advances
  • $863,565Loans and leases held for sale
  • $6,946Unused loan commitments
  • $5,467Tier 1 (core) risk-based capital
  • $81,826Tier 2 risk-based capital
  • $1,479Total risk weighted assets
  • $0Total unused commitments
  • $256,529Restructured Loans and leases
  • $33,326Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $40,420Total interest income
  • $6,304Total interest expense
  • $34,116Net interest income
  • $6,320Provision for loan and lease losses
  • $54,226Total noninterest income
  • $0Fiduciary activities
  • $1,262Service charges on deposit accounts
  • $0Trading account gains & fees
  • $52,964Additional noninterest income
  • $70,525Total noninterest expense
  • $48,329Salaries and employee benefits
  • $5,912Premises and equipment expense
  • $16,284Additional noninterest expense
  • $11,497Pre-tax net operating income
  • $0Securities gains (losses)
  • $3,419Applicable income taxes
  • $8,078Income before extraordinary items
  • $0Extraordinary gains - net
  • $7,618Net income attributable to bank
  • $460Net charge-offs
  • $8,078Cash dividends
  • $5,429Sale, conversion, retirement of capital stock, net
  • $3,006Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.23%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 4.41%Net interest margin
  • 7.02%Noninterest income to earning assets
  • 9.12%Noninterest expense to earning assets
  • 0.96%Net operating income to assets
  • 0.90%Return on assets (ROA)
  • 1.31%Pretax return on assets
  • 9.51%Return on equity (ROE)
  • 5.76%Retained earnings to average equity (YTD only)
  • 0.74%Net charge-offs to loans
  • 116.41%Credit loss provision to net charge-offs
  • 3.28%Efficiency ratio
  • 79,629Assets per employee
  • 1.65%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 39.46%Loss allowance to loans
  • 1.21%Loss allowance to noncurrent loans
  • 231.36%Noncurrent assets plus other real estate owned to assets
  • 0.84%Noncurrent loans to loans
  • 0.52%Net loans and leases to deposits
  • 108.66%Net loans and leases to core deposits
  • 130.12%Equity capital to assets
  • 9.08%Core capital (leverage) ratio
  • 9.48%Tier 1 risk-based capital ratio
  • 10.72%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $842,106Average earning assets
  • $80,121Average equity
  • $772,987Average loans

List of branches

  • 2 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    8467267Obx Branch3708 N. Croatan Highway, Kitty Hawk, NC 27949May 01, 2007Full Service Cyber
    11500305Obx Branch2525 S. Croatan Hwy, Nags Head, NC 27959December 14, 2009Full Service Brick and Mortar
  • 10 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    062119Monarch Bank750 Volvo Parkway, Chesapeake, VA 23320April 14, 1999Full Service Brick and Mortar
    1290859Great Bridge Branch1034 Battlefield Boulevard South, Chesapeake, VA 23322January 24, 2000Full Service Brick and Mortar
    2361527Lynnhaven Branch100 Lynnhaven Parkway, Virginia Beach, VA 23452Febuary 07, 2001Full Service Brick and Mortar
    3419500Oceanfront Branch3701 Pacific Avenue, Suite 100, Virginia Beach, VA 23451August 26, 2002Full Service Brick and Mortar
    4430632Norfolk - Ghent318 W. 21st Street, Norfolk, VA 23517March 31, 2004Full Service Brick and Mortar
    5442217Norfolk Main Branch150 Boush Street Suite 201, Norfolk, VA 23510Febuary 01, 2005Full Service Retail
    6452498Town Center Branch4216 Virginia Beach Blvd, Virginia Beach, VA 23452September 15, 2005Full Service Cyber
    7467266Kempsville Branch5225 Providence Road, Virginia Beach, VA 23464Febuary 01, 2007Full Service Cyber
    10468974Greenbrier Corporate Branch1101 Executive Blvd, Chesapeake, VA 23320October 17, 2007Limited Service Administrative
    12510622Hilltop Office Branch1635 Laskin Road, Virginia Beach, VA 23451June 01, 2010Full Service Retail

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