Mr. McNaught, an Indianapolis resident, is President of Denison Properties, Inc., a position he has held since 1991. Denison Properties, Inc., is the developer of Airwest Business Park, Franklin Tech Park, Saratoga and other mixed-use developments in the metropolitan Indianapolis market. Prior to joining Denison Properties, Inc., he was a practicing real estate and land use attorney in the Indianapolis office of Baker & Daniels. Mr. McNaught graduated magna cum laude from Wabash College in 1976, and received his law degree from Duke University in 1979.

"The recruitment of directors from our newer markets is a key element of the Company's expansion plan, which began in 2001 with our entry into Hendricks County," said Mark D. Bradford, President and Chief Executive Officer of Monroe Bancorp. "I look forward to the benefits that Mr. McNaught's market experience and insights will bring as we continue to expand the Bank's central Indiana operations."

Mr. McNaught's professional affiliations include his role as vice chairman of the Board of Directors of The Indy Partnership and as a member of the Board of Directors of Benicorp Insurance Company.

Monroe Bancorp, headquartered in Bloomington, Indiana, is an Indiana bank holding company with offices in Monroe, Jackson, Lawrence and Hendricks counties. Its wholly owned subsidiary, Monroe Bank, was established in Bloomington, Indiana in 1892 and holds more than $530 million in assets. Monroe Bank offers a full range of financial, trust and investment services to its more than 20,000 retail and commercial customers. The Company's common stock is traded on the NASDAQ ® National Stock Market under the symbol MROE.