Monarch Bank, a Virginia-based subsidiary of Monarch Financial Holdings Inc., announced Andrew Proctor has joined the company as senior vice president in its new Richmond, Va., office.
Proctor has 25 years of experience specializing in supporting commercial real estate developers and investors, and will work to facilitate commercial loans for Monarch.
“We are so pleased someone of Andy’s caliber has joined Monarch Bank to further our reach into Richmond as we continue to grow our company. His relationship with Atlantic Mortgage and Investment Company will also allow us to better serve our existing clients with long-term fixed-rate financing of commercial properties,” said E. Neal Crawford, Jr., president of Monarch. “We have decided to enter the Richmond market with a targeted approach to loan and fee income growth.”
Monarch has three mortgage offices located in Richmond, and the company plans to hire additional bankers to serve the Richmond market.
A graduate of the McIntire School of Commerce at the University of Virginia, Proctor previously worked for First Union, Jefferson National, Wachovia Securities and GE Real Estate. Since 2012, Proctor has served as principal, owner and manager of Atlantic Mortgage and Investment Company (AMIC) in Richmond. AMIC serves commercial clients throughout the mid-Atlantic.
“I joined Monarch because their culture and way of taking care of clients, especially the more sophisticated professional real estate investor, was similar to how I do business at Atlantic and have done throughout my career,” Proctor said. “We will continue to place commercial loans in the permanent market, but can now book balance sheet construction, bridge and mini-perm loans for the central Virginia market.”