Monarch Bank in Chesapeake, Va., will launch a new wealth management unit as it looks to expand in Virginia.

Monarch Bank Private Wealth will provide private banking, financial planning, trust and investment services in the Williamsburg and Peninsula markets, the $937 million-asset Monarch, a unit of Monarch Financial Holdings (MNRK), said Monday. Bernard H. Ngo will serve as market president and managing director of the new unit.

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