BLOOMINGTON, Ind. – Monroe Bancorp (NASDAQ:MROE) announced today that its Board of Directors recently declared a quarterly dividend of $0.12 per share on the Company's Common Stock. The dividend is payable June 30, 2006 to shareholders of record on June 16, 2006.

This quarterly dividend is unchanged from the $0.12 per share dividend paid in the first quarter of 2006.

Monroe Bancorp, headquartered in Bloomington, Indiana, is an Indiana bank holding company with assets over $700 million and with Monroe Bank as its wholly owned subsidiary. Monroe Bank was established in Bloomington in 1892 and offers a full range of financial, trust and investment services through its locations in Central and South Central Indiana. The Company's common stock is traded on the NASDAQ® National Stock Market under the symbol MROE.

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