FOR IMMEDIATE RELEASE:

For Media Inquiries: Nancy Porter, Senior Vice President - Marketing & Sales
Monarch Bank (757) 389-5107

Monarch Bank Promotes Small Business Growth and Job Creation with $75,000 "Top Flight" Award Contest Three businesses in Hampton Roads will receive Prize Packages totaling $75,000 CHESAPEAKE, Va., January 7, 2013 - Monarch knows that small businesses are the backbone of America, and that's no different in Hampton Roads, Virginia. Monarch Bank, a subsidiary of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), today announces the kick-off of its "Top Flight" Year 3. This year's contest will award three local businesses with a $50,000; $15,000; or $10,000 prize package. In addition, each entrant's company logo will be featured in the 2013 "Entry-thank you" media advertising campaign.

One $50,000 winner will be selected to receive: $10,000 cash from Monarch Bank; a professional business service package valued at $10,000 from accounting, tax and advisory firm Cherry, Bekaert & Holland, L.L.P.; a professional business package valued at $10,000 from Cox Business Communications; an advertising package, including the creation of a 30-second commercial and cable airtime, valued at $10,000 from Cox Cable Media; and an advertising contract with Pilot Media valued at $10,000. Norfolk-based law firm Vandeventer Black is also sponsoring the awards.
One $15,000 winner will be selected to receive: $5,000 cash from Monarch Bank; a professional business service package valued at $5,000 from accounting, tax and advisory firm Cherry, Bekaert & Holland, L.L.P.; and an advertising package valued at $5,000 from Cox Cable Media.
One $10,000 winner will be selected to receive: advertising cable airtime package valued at $5,000 from
Cox Cable Media and an advertising contract with Pilot Media valued at $5,000.
Companies interested in applying for the "Top Flight" Award must:

• be headquartered in Hampton Roads

• have reported gross revenue of at least $500 thousand in 2011

• have been founded prior to fiscal year 2010

• list the number of full-time staff employed over each of the past three years and are in good standing with the Virginia State Corporation Commission and properly licensed to do business in Virginia and Hampton Roads

Completed entries should be submitted via e-mail TopFlight@monarchbank.comor fax (757.389.5100) or by 5:00 PM ET on Wednesday, February 20, 2013. Three semifinalists will be chosen on or around March 1, then the community will vote for their favorite semifinalist March 17- April 31, 2013 through a text-to-vote and online poll survey. The "Top Flight" Year 3 Award winners will be announced on or around May 9, 2013. Official rules can be found at MonarchBank.com. http://www.monarchbank.com
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About Monarch Bank

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank
is a community bank with eleven banking offices in Chesapeake, Norfolk, Suffolk, Virginia Beach, 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 offices with locations in Virginia, North Carolina, Maryland, and South Carolina. Our subsidiaries/ divisions include Monarch Bank, Monarch Bank Private Wealth (Private banking, trust and investments), OBX Bank, Monarch Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Regional Home Mortgage, LLC (secondary mortgage origination), Monarch Home Funding, LLC (secondary mortgage origination), Monarch Investments (investment and insurance solutions) and Real Estate Security Agency, LLC (title agency). The shares of common stock of Monarch Financial Holdings, Inc. are publicly traded on the NASDAQ Capital Market under the symbol "MNRK," and shares of our convertible preferred stock are publicly traded on the NASDAQ Capital Market under the symbol "MNRKP."

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