BLOOMINGTON, IN — Monroe Bancorp (NASDAQ: MROE) announced 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 December 29, 2006 to shareholders of record on December 15, 2006. This is unchanged from the cash dividend paid in the third quarter of 2006, and represents an annualized yield of 2.9% based on the December 19, 2006 market value of $16.68 per share. The annual dividend paid per share for 2006 is $0.4800 compared to $0.4745 for 2005.
Monroe Bancorp, headquartered in Bloomington, Indiana, is an Indiana bank holding company with assets over $725 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