Monarch Bank, a subsidiary of US-listed firm Monarch Financial, said it has appointed Craig Reilly to president of the bank's Virginia Beach region.

Prior to Monarch Bank, Mr Reilly worked for SunTrust Banks, Inc. Mid Atlantic Region and spent six years with the Branch Banking & Trust of Virginia. He joined Monarch Bank in May 2005 working in the Norfolk commercial banking division. Recently, Mr Reilly served as managing director of Monarch Bank's Norfolk Private Banking, where he led and managed a team of private bankers responsible for deposit growth.

"Craig is well-positioned to lead the Virginia Beach region and its private banking, business banking and four banking offices. Among his accomplishments, Craig has achieved Monarch top honors for new deposit growth and loan growth leader in 2006 and 2007," said William Rountree, president and chief executive of Monarch Bank.