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Monarch Financial Holdings Q1 Profit Down

Monarch Financial Holdings, Inc. (MNRK) Thursday reported first-quarter profit of $2.54 million or $0.24 per share, down from $3.46 million or $0.33 per share in the same period last year.

Net-interest income dropped to $9.46 million from $10.42 million last year. Non-interest income totaled $13.31 million, down from $17.18 million last year.

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