BLOOMINGTON, IN — Monroe Bancorp (OTC BB: MROE) announced that it has received approval from Nasdaq to begin trading under the same symbol (MROE) on the Nasdaq National Stock Market effective May 30, 2001.

"We believe that having Monroe Bancorp listed on the Nasdaq National Market may generate broader interest in our common stock," said Mark D. Bradford, President and Chief Executive Officer. "We believe that being listed on NASDAQ will enhance our efforts to tell our story to a national audience of institutional and private investors. We have a great story to tell and we look forward to bringing it to the attention of this broad market."

Bradford said that the NASDAQ listing may provide increased liquidity of the Company's common stock, which should provide current and potential Monroe Bancorp shareholders an ease of trading that was not possible when the stock was traded over the counter.

Monroe Bancorp is a Bloomington-based bank holding company with assets totaling $441,782,000 as of March 31, 2001. For the first quarter of 2001, the Company reported $1,447,000 in net income, a 13% increase over the first quarter of 2000. The Company also realized a 13% increase in earnings from December 31, 1999 to December 31, 2000, with $5,333,000 in net income reported for the year ended December 31, 2000.

The Company recently received State approval to change the name of its bank from Monroe Bank to Monroe Bank. The new bank name retains a reference to the bank's strong ties and 109-year history in Monroe County, Indiana, while no longer branding the bank as an outsider in markets outside its home base.

Monroe Bank currently has three banking centers outside of Monroe County in Indiana—in Bedford, Brownstown and Freetown—and plans to establish new banking centers in Hendricks County, just west of Indianapolis. The first banking center, in Avon, Indiana, is expected to open in July 2001 and will focus on commercial banking services and large retail accounts. Two other banking centers in Hendricks County are planned to be open by March 2002.

Established in 1892, Monroe Bank offers a full range of financial, trust and investment services through its fourteen banking centers in Monroe, Jackson and Lawrence Counties. The Bank also delivers services through five ATM locations beyond those at its banking centers, and through the Internet at www.monroebank.com. The bank serves more than 19,000 commercial and retail customers.