August 26, 2015
By Sarah Kleiner Varble, The Virginian-Pilot
Monarch Financial Holdings Inc., parent company of Monarch Bank, said Monday it plans to open its first bank branch in Newport News and relocate one of its branches in Virginia Beach.
The Chesapeake-based company's existing mortgage office in Newport News will move in 2015 to Tech Center at Oyster Point, a mixed-use development, where it will be joined by a bank branch, according to a Monarch news release.
The bank also signed a lease to move its Willis Wayside office in Virginia Beach to Town Center, the city's burgeoning business district. The new location will open later this year.
In Suffolk, Monarch is searching for a new location after closing its lone branch there in July.