Form 8-K Monarch Financial Holdin For: May 13

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 13, 2015

 

 

MONARCH FINANCIAL HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Virginia		001-34565		20-4985388
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1435 Crossways Boulevard Chesapeake, Virginia		23320
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (757) 389-5111

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

---

Item 8.01 – Other Events

On May 13, 2015, Monarch Financial Holdings, Inc. (the “Company”) issued a press release announcing the Board of Directors’ declaration of a quarterly cash dividend of $0.09 for each share of common stock outstanding. The dividend is payable June 12, 2015 to shareholders of record on May 25, 2015. A copy of the Company’s press release is attached as Exhibit 99.1 hereto and is hereby incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

 

(d)

Exhibits.

 

99.1

Monarch Financial Holdings, Inc. press release.

 

2

---

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

				MONARCH FINANCIAL HOLDINGS, INC.
Date: May 13, 2015				/s/ Brad E. Schwartz
				Brad E. Schwartz
				Chief Executive Officer

 

3

Exhibit 99.1

 

Monarch Financial Holdings Announces 12.5%

Increase in Quarterly Cash Dividend

CHESAPEAKE, VIRGINIA (May 13, 2015) – Monarch Financial Holdings, Inc. (NASDAQ: MNRK), the holding company for Monarch Bank, announced a 12.5% increase in the quarterly common stock cash dividend at its annual shareholders meeting held on May 12, 2015. The Board of Directors declared a quarterly cash dividend of $0.09 per common share, payable on June 12, 2015, to shareholders of record on May 25, 2015. The amount and declaration of future cash dividends is subject to Board of Director’s approval in addition to regulatory restrictions.

“One of our goals is to grow and enhance shareholder value, and since we began paying cash dividends to our common stockholders five years ago we have increased the payout each and every year.” stated Brad E. Schwartz, Chief Executive Officer. “With our better than budgeted first quarter, and our forecasts for the future, the Board of Directors felt it was appropriate to increase the dividend by 12.5% which equals a 2.8% dividend yield based on our current stock price.”

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with ten banking offices in Chesapeake, Virginia Beach, Norfolk, and Williamsburg, Virginia. OBX Bank, a division of Monarch Bank, operates offices in Kitty Hawk and Nags Head, North Carolina. Monarch Mortgage and our affiliated mortgage companies have over thirty-five offices with locations in Virginia, North Carolina, Maryland, and South Carolina. Our subsidiaries/divisions include Monarch Bank, OBX Bank, Monarch Mortgage (secondary mortgage origination), OBX Bank Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Monarch Bank Private Wealth (investment, trust, planning and private banking), Monarch Investments (investment and insurance solutions), Real Estate Security Agency, LLC (title agency) and Monarch Capital, LLC (commercial mortgage brokerage). The shares of common stock of Monarch Financial Holdings, Inc. are publicly traded on the Nasdaq Capital Market under the symbol “MNRK”.

This press release may contain “forward-looking statements,” within the meaning of federal securities laws that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company and are factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in the Company’s most recent Form 10-K and 10-Q reports and other documents filed with the Securities and Exchange Commission. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

#

Contact:    Brad E. Schwartz – (757) 389-5111, www.monarchbank.com

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Chicardgo School Releases 2026 Elite College Placement Index Featuring Expanded Data and Methodological Enhancements
• TEADIT Introduces iQuote™ to Simplify Industrial Gasket Purchasing
• Davidson Kempner Capital Management LP : Form 8.3 - Tate & Lyle plc