Exhibit 99.1

MONARCH FINANCIAL REPORTS FIRST

QUARTER FINANCIAL PERFORMANCE

Chesapeake, VA, April 24, 2014 - Monarch Financial Holdings, Inc. (Nasdaq: MNRK), the bank holding company for Monarch Bank, reported first quarter profitability and continued strong performance. First quarter 2014 highlights are:

• 1^st quarter net income of $2,537,265

• Return on Equity of 10.46%

• Return on Assets of 1.06%

• Basic earnings per share of $0.24

• Non-performing assets at 0.27% of total assets

• $271 million in mortgage loans closed

“We are extremely pleased with our first quarter results. Efforts to manage our expenses and structure the company for the future resulted in improved profitability from the previous two quarters with slightly less top line revenue, a nice accomplishment. Solid bank and mortgage loan closings, non-existent credit costs, expense control, and a strong net interest margin continued to drive our bottom line results.” stated Brad E. Schwartz, Chief Executive Officer. “In April we celebrate Monarch’s 15^th anniversary, in May we open our new Williamsburg banking, mortgage and private wealth office, and we are working on several other initiatives that will further our goal of remaining the top performing community bank in our market.”

Net income was $2,537,265 for the first quarter of 2014, up from the previous two quarters but down from the record first quarter of 2013. The quarterly annualized return on average equity (ROE) was 10.46%, and the quarterly return on average assets (ROA) was 1.06%. Quarterly diluted earnings per share were $0.24, compared to $0.21 in the previous quarter and $0.33 in the same quarter in 2013.

Total assets at March 31, 2014 were $1.0 billion, with both loans and deposits showing nominal net growth since year-end 2013. Declines in our loans held for sale portfolio due to lower mortgage loan closings were offset on a quarterly and annual basis by growth in loans held for investment, investment securities, interest bearing bank balances, and federal funds balances. We anticipate much of this excess liquidity will be utilized to fund the spring and summer residential mortgage closing season based on growing mortgage loan applications, improvements in the weather, and continued favorable market loan

Page 1

rates. Funding continues to shift to a higher level of demand deposits and money market accounts, with 31% of our total deposits now in demand deposits. Our funding mix should enhance the net interest margin when rates are predicted to rise in the next 12-24 months.

“We continue to attract top quality clients with loan growth over the past year in commercial, construction, commercial real estate, and mortgage loans. Our loan pipeline is robust and we are excited about the growth prospects at our new Williamsburg and Newport News locations.” stated Neal Crawford, President of Monarch Bank.

Non-performing assets to total assets were 0.27%, which remains significantly below that of our local, state, and national peer group. Non-performing assets were $2.8 million which was down from $3.5 million or 0.33% of total assets one year prior. Non-performing assets were comprised of $1.7 million in non-accrual loans, $759 thousand in loans more than 90 days past due, and $302 thousand in one foreclosed property. Net recoveries for the quarter were $152 thousand and the allowance for loan losses represents 1.29% of loans held for investment and 372% of non-performing loans.

Capital strength continues to grow by all measures. Average equity to average assets improved to 10.13%, up from 8.00% one year prior. Total risk-based capital to risk weighted assets at Monarch Bank equaled 14.27%, significantly higher than the required level to meet the highest rating of “Well Capitalized” by federal banking regulators. Monarch was again awarded the highest 5-Star “Superior” rating by Bauer Financial, an independent third-party bank rating agency that rates banks on safety and soundness.

Net interest income, our number one driver of profitability, declined 9.1% or $953 thousand during the first quarter of 2014 compared to the same quarter in 2013 driven by reduced balances of mortgage loans held for sale. Mortgage loans held for sale interest income declined $1.9 million compared to the first quarter of 2013, which was partially offset by growth in loans held for investment interest income and a reduction in funding costs. The net interest margin increased to 4.25% for the first quarter, which was up from the previous quarter of 4.13% and from the first quarter of 2013 of 4.12%. The lower average volume of mortgage loans held for sale and the repayment of a discounted loan were the primary reason for the increased net interest margin.

Non-interest income declined 22.5% or $3.9 million from the previous year driven by reduced revenues from mortgage loans sold and related title insurance fees. Investment revenue more than doubled compared to the previous year due to the recent formation of Monarch Bank Private Wealth. Mortgage revenue continues to be the number one driver of non-interest income. We closed $271 million in mortgage loans (81% purchase) during the first quarter of 2014 compared to $542 million (43% purchase) in the first quarter of 2013, and $350 million (80% purchase) in the fourth quarter of 2013.

Page 2

“All of our efforts over the past several months paid off in the first quarter, despite the multitude of snow storms that hit Washington, Richmond, Hampton Roads and even Charlotte. Our long-term focus has always been on purchase mortgage lending, with 81% of the loans closed in the first quarter of 2014 used to purchase homes.” stated William T. Morrison, CEO of Monarch Mortgage. “Our pipeline is strong and we expect the traditional spring and summer sales cycle to return this year. Based on our application volume we anticipate an increase in loan closings going forward.”

Total non-interest expenses declined 14.2% or $3.1 million during the first quarter due to reduced commissions and loan expenses. Net overhead, the difference between non-interest income and non-interest expense, increased $758 thousand driven by higher occupancy expenses and technology costs. The company is currently reviewing all physical locations to determine if any enhancements need to be made to improve operating efficiency.

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, Virginia Beach, Norfolk, Suffolk, 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, OBX Bank, Monarch Mortgage (secondary mortgage origination), OBX Bank Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Regional 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

Page 3

Consolidated Balance Sheets

Monarch Financial Holdings, Inc. and Subsidiaries

(In thousands)

Unaudited

	March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013			March 31, 2013
ASSETS:
Cash and due from banks	$	18,510		$	18,971		$	21,016		$	19,050		$	17,414
Interest bearing bank balances		37,033			31,955			24,504			15,195			14,099
Federal funds sold		84,232			53,985			83,454			56,972			21,937
Investment securities, at fair value		23,197			48,822			16,973			16,573			16,493
Loans held for sale		92,839			99,718			120,435			166,586			242,457
Loans held for investment, net of unearned income		715,088			712,671			697,541			697,376			692,410
Less: allowance for loan losses		(9,213	)		(9,061	)		(11,228	)		(11,320	)		(10,788	)
Net loans		705,875			703,610			686,313			686,056			681,622
Bank premises and equipment, net		29,902			28,882			28,454			28,101			27,507
Restricted equity securities, at cost		3,156			3,683			3,666			3,792			3,781
Bank owned life insurance		7,467			7,409			7,351			7,290			7,231
Goodwill		775			775			775			775			775
Intangible assets, net		60			104			149			194			238
Accrued interest receivable and other assets		19,673			18,786			18,857			20,815			21,421
Total assets	$	1,022,719		$	1,016,700		$	1,011,947		$	1,021,399		$	1,054,975
LIABILITIES:
Demand deposits - non-interest bearing	$	221,357		$	206,891		$	222,079		$	218,880		$	201,346
Demand deposits - interest bearing		55,949			55,528			48,244			52,101			57,074
Money market deposits		367,590			374,462			364,488			341,042			332,305
Savings deposits		24,327			22,137			22,665			22,172			23,579
Time deposits		224,947			234,100			228,652			264,491			317,181
Total deposits		894,170			893,118			886,128			898,686			931,485
FHLB borrowings		1,150			1,175			1,200			1,225			1,250
Short Term borrowings		—			—			—			—			5,000
Trust preferred subordinated debt		10,000			10,000			10,000			10,000			10,000
Accrued interest payable and other liabilities		17,422			14,661			17,855			16,733			14,894
Total liabilities		922,742			918,954			915,183			926,644			962,629
STOCKHOLDERS’ EQUITY:
Common stock		51,584			51,432			51,230			50,873			50,821
Capital in excess of par value		7,357			7,069			6,755			6,521			6,300
Retained earnings		41,232			39,437			38,014			36,233			33,790
Accumulated other comprehensive loss		(314	)		(419	)		(406	)		(480	)		(174	)
Total Monarch Financial Holdings, Inc. stockholders’ equity		99,859			97,519			95,593			93,147			90,737
Noncontrolling interest		118			227			1,171			1,608			1,609
Total equity		99,977			97,746			96,764			94,755			92,346
Total liabilities and stockholders’ equity	$	1,022,719		$	1,016,700		$	1,011,947		$	1,021,399		$	1,054,975
Preferred shares outstanding at period end		—			—			—			—			—
Common shares outstanding at period end		10,619,444			10,502,323			10,480,023			10,408,544			10,398,073
Nonvested shares of common stock included in commons shares outstanding		302,710			215,960			233,960			233,960			233,960
Book value per common share at period end (1)	$	9.40		$	9.29		$	9.12		$	8.95		$	8.73
Tangible book value per common share at period end (2)	$	9.33		$	9.20		$	9.03		$	8.86		$	8.63
Closing market price	$	12.26		$	12.31		$	11.72		$	10.83		$	10.61
Total risk based capital - Consolidated company		14.30	%		13.91	%		13.68	%		13.46	%		13.21	%
Total risk based capital - Bank		14.27	%		13.95	%		13.83	%		13.66	%		13.94	%

(1) Book value per common share is defined as stockholders’ equity divided by common shares outstanding.

(2) Tangible book value per common share is defined as stockholders’ equity less goodwill and other intangibles divided by commons shares outstanding

Page 4

Consolidated Statements of Income

Monarch Financial Holdings, Inc. and Subsidiaries

Unaudited

	Three Months Ended March 31,
	2014			2013
INTEREST INCOME:
Interest on federal funds sold	$	40,378		$	5,158
Interest on other bank accounts		36,032			8,142
Dividends on equity securities		30,000			74,435
Interest on investment securities		76,049			57,569
Interest on loans held for sale		772,732			2,733,572
Interest and fees on loans held for investment		9,478,892			8,974,994
Total interest income		10,434,083			11,853,870
INTEREST EXPENSE:
Interest on deposits		834,413			1,029,462
Interest on trust preferred subordinated debt		122,337			119,042
Interest on other borrowings		14,362			289,178
Total interest expense		971,112			1,437,682
NET INTEREST INCOME		9,462,971			10,416,188
PROVISION FOR LOAN LOSSES		—			—
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		9,462,971			10,416,188
NON-INTEREST INCOME:
Mortgage banking income		12,202,162			16,165,936
Service charges and fees		470,212			451,154
Title income		105,034			254,351
Investment and insurance income		445,472			206,936
Other income		85,771			102,641
Total non-interest income		13,308,651			17,181,018
NON-INTEREST EXPENSE:
Salaries and employee benefits		8,271,561			8,205,075
Commissions and incentives		4,010,965			7,065,476
Occupancy and equipment		2,276,703			1,866,518
Loan expense		1,363,141			1,830,437
Marketing expense		521,841			512,958
Data processing		479,278			400,958
Telephone		311,137			254,924
Other expenses		1,512,007			1,724,275
Total non-interest expense		18,746,633			21,860,621
INCOME BEFORE TAXES		4,024,989			5,736,585
Income tax provision		(1,471,240	)		(1,993,553	)
NET INCOME		2,553,749			3,743,032
Less: Net income attributable to noncontrolling interest		(16,484	)		(284,903	)
NET INCOME ATTRIBUTABLE TO MONARCH FINANCIAL HOLDINGS, INC	$	2,537,265		$	3,458,129
NET INCOME PER COMMON SHARE:
Basic	$	0.24		$	0.37
Diluted	$	0.24		$	0.33
Weighted average basic shares outstanding		10,572,435			9,300,760
Weighted average diluted shares outstanding		10,613,452			10,451,897
Return on average assets		1.06	%		1.27	%
Return on average stockholders’ equity		10.46	%		15.86	%

Page 5

Financial Highlights

Monarch Financial Holdings, Inc. and Subsidiaries

	For the Quarter Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands, except per share data)	2014			2013			2013			2013			2013
EARNINGS
Interest income	$	10,434		$	10,677		$	10,842		$	10,976		$	11,854
Interest expense		(971	)		(1,044	)		(1,121	)		(1,184	)		(1,438	)
Net interest income		9,463			9,633			9,721			9,792			10,416
Provision for loan losses		—			—			—			—			—
Noninterest income - mortgage banking income		12,202			13,277			15,657			20,572			16,166
Noninterest income - other		1,106			1,075			1,018			1,102			1,015
Noninterest expense		(18,747	)		(20,562	)		(22,315	)		(26,173	)		(21,861	)
Pre-tax net income		4,024			3,423			4,081			5,293			5,736
Minority interest in net income		(16	)		(87	)		(255	)		(428	)		(285	)
Income taxes		(1,471	)		(1,179	)		(1,416	)		(1,798	)		(1,993	)
Net income	$	2,537		$	2,157		$	2,410		$	3,067		$	3,458
PER COMMON SHARE
Earnings per share - basic	$	0.24		$	0.21		$	0.23		$	0.29		$	0.37
Earnings per share - diluted		0.24			0.20			0.23			0.29			0.33
Common stock - per share dividends		0.07			0.07			0.06			0.06			0.05
Average Basic Shares Outstanding		10,600,766			10,486,056			10,464,992			10,401,992			9,300,760
Average Diluted Shares Outstanding		10,641,782			10,535,313			10,519,472			10,483,420			10,451,897
ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	9,061		$	11,228		$	11,320		$	10,788		$	10,910
Provision for loan losses		—			—			—			—			—
Charge-offs		(12	)		(2,252	)		(137	)		(279	)		(554	)
Recoveries		164			85			45			811			432
Net charge-offs		152			(2,167	)		(92	)		532			(122	)
Ending balance	$	9,213		$	9,061		$	11,228		$	11,320		$	10,788
COMPOSITION OF RISK ASSETS
Nonperforming loans:
90 days past due	$	759		$	472		$	82		$	—		$	351
Nonaccrual loans		1,718			1,740			2,814			2,889			3,070
OREO		302			302			95			95			95
Nonperforming assets		2,779			2,514			2,991			2,984			3,516
ASSET QUALITY RATIOS
Nonperforming assets to total assets		0.27	%		0.25	%		0.30	%		0.29	%		0.33	%
Nonperforming loans to total loans		0.35			0.31			0.42			0.41			0.49
Allowance for loan losses to total loans held for investment		1.29			1.27			1.61			1.62			1.56
Allowance for loan losses to nonperforming loans		371.94			409.63			387.71			391.83			315.35
Annualized net charge-offs to average loans held for investment		-0.09			1.25			0.05			-0.31			0.07
FINANCIAL RATIOS
Return on average assets		1.06	%		0.86	%		0.94	%		1.19	%		1.27	%
Return on average stockholders’ equity		10.46			8.88			10.18			13.42			15.86
Net interest margin (FTE)		4.25			4.13			4.11			4.11			4.12
Non-interest revenue/Total revenue		56.1			57.3			60.4			66.4			59.2
Efficiency - Consolidated		82.1			85.5			84.8			83.0			79.1
Efficiency - Bank only		59.9			60.4			59.1			58.2			53.1
Average equity to average assets		10.13			9.73			9.27			8.88			8.00
PERIOD END BALANCES (Amounts in thousands)
Total loans held for sale	$	92,839		$	99,718		$	120,435		$	166,586		$	242,457
Total loans held for investment		715,088			712,671			697,541			697,376			692,410
Interest-earning assets		956,160			952,981			950,760			960,481			994,946
Assets		1,022,719			1,016,700			1,011,947			1,021,399			1,054,975
Total deposits		894,170			893,118			886,128			898,686			931,485
Other borrowings		11,150			11,175			11,200			11,225			16,250
Stockholders’ equity		99,859			97,519			95,593			93,147			90,737
AVERAGE BALANCES (Amounts in thousands)
Total loans held for sale	$	70,856		$	104,104		$	136,660		$	200,733		$	316,189
Total loans held for investment		704,917			695,074			692,731			680,037			665,542
Interest-earning assets		910,929			935,059			946,575			964,872			1,033,838
Assets		970,815			990,734			1,013,932			1,032,345			1,105,933
Total deposits		848,969			869,113			882,553			908,229			865,146
Other borrowings		11,174			11,199			11,257			11,250			123,291
Stockholders’ equity		98,374			96,415			93,958			91,638			88,430
MORTGAGE PRODUCTION (Amounts in thousands)
Dollar volume of mortgage loans closed	$	271,233		$	349,695		$	478,304		$	607,189		$	542,235
Percentage of refinance based on dollar volume		19.1	%		20.3	%		22.6	%		39.2	%		56.8	%

Page 6