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Company:
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MONROE BANCORP (MROE)
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Form Type:
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8-K
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Filing Date:
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4/30/2009
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CIK:
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0000745456
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Address:
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210 E KIRKWOOD AVE
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City, State, Zip:
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BLOOMINGTON, Indiana 47401
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Telephone:
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(812) 336-0201
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Fiscal Year:
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12/09
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Last Trade
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Last Trade:
$6.50
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Change:
-0.25 (-3.70%)
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Trade Time:
Feb 09
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Market Cap:
$40.48M
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Description of Business
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Monroe Bancorp (the "Company") is a one-bank holding company formed as a general
corporation under Indiana law in 1984. At December 31, 2007, on a consolidated
basis the Company had total assets of $778,080,000, total loans of $584,831,000
and total deposits of $619,717,000. The Company holds all of the outstanding
stock of Monroe Bank (the "Bank"), which was formed in 1892. The Bank is the
primary business activity of the Company.
The Bank, headquartered in Bloomington, Indiana, conducts business from 16
locations in Monroe, Hendricks, Jackson and Lawrence counties in Indiana.
Approximately 70 percent of the Bank's business is in Monroe County and is
concentrated in and around the city of Bloomington. However, the Company's
anticipated continued development of additional banking business in Hendricks
County, and other counties in the greater Indianapolis area, is expected to
gradually reduce this concentration.
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