I've been looking for beat up banks but came across one that has fallen from its 52-week high and offers investors wanting both growth and an easy night sleep a great option. That bank is Monarch Financial (NASDAQ:MNRK), a $117 million bank holding company that operates through its wholly-owned subsidiaries, Monarch Bank, Monarch Investments and Monarch Capital in Virginia and North Carolina (mostly in Virginia).
Before getting into the specifics, let's review the territory Monarch is working in.
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GDP growth last year was on par with the weakest states in the U.S but median family income in the state is above the national average ($77K vs $64.4K) and unemployment is lower at 5.3% compared to...
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