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Monarch Financial Holdings (MNRK) Leaped To A New High After Merger

Monarch Financial Holdings (MNRK) announced Thursday morning that it has agreed to be acquired by TowneBank (TOWN). Shareholders of Monarch will receive 0.8830 shares of TowneBank common stock for each share of Monarch.

Monarch Financial gapped open sharply higher Thursday, but moved in a narrow range throughout the session. Shares finished up by 4.85 at $17.01 on the highest volume of the year. The stock jumped to a new high for the year.

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