COLDWATER, Mich., Sept. 10, 2012 (GLOBE NEWSWIRE) -- Monarch Community Bancorp, Inc. (the "Company"), the Michigan bank holding company of Monarch Community Bank, Coldwater, MI ("The Bank"), announced that it will transfer the primary trading market of its common stock from NASDAQ National Market to the NASDAQ OTCQB on September 19, 2012. The Company's board of directors has determined that the Company would benefit from such action by eliminating costs while being able to maintain the liquidity of the stock at comparable historical levels. "Companies of our size derive very little advantage in stock liquidity from being listed on the NASDAQ National Market," stated Richard J. DeVries, President & CEO of Monarch Community Bancorp and Monarch Community Bank. "We feel an ongoing obligation to justify every expense," added DeVries, "and determined that the cost of this listing could not be justified."
Monarch Community Bancorp is headquartered in Coldwater, Michigan, with branches in Coldwater, Marshall, Hillsdale and Union City. The bank also operates eight residential loan production offices in St. Joseph, Kalamazoo, Grand Rapids, Battle Creek, Jackson, East Lansing, and Brighton, Michigan, along with one in Angola, Indiana. A ninth loan production office will be opened in Lenawee County in September. The Bank is located at 375 North Willowbrook Road, Coldwater, Michigan 49036 and its phone number is (517) 278-4566.
Additional information about the Company and The Bank is available at www.MonarchCB.com.