Southern National Banc. of Virginia, Inc (OQ:SONA)

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 1770 Timberwood Blvd Ste 100
Tel: N/A
IR: See website
Key People
Dennis J. Zember
President, Chief Executive Officer, Director of the Company and Bank
Jeffrey L. Karafa
Chief Financial Officer, Executive Vice President of the Company and the Bank
George Cody Sheflett
Chief Operating Officer, Executive Vice President, Chief Information Officer
Business Overview
Southern National Bancorp of Virginia, Inc. (Southern National) is the bank holding company for Sonabank (Sonabank). The Company's principal business is the acquisition of deposits from the general public through its branch offices and deposit intermediaries, as well as the use of these deposits to fund its loan and investment portfolios. Sonabank is a Virginia state chartered bank. Sonabank provides a range of financial services to individuals, and small and medium sized businesses. The Company focuses on making loans secured primarily by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in various industries, as well as loans to individuals for a variety of purposes. It focuses on serving small to medium-sized businesses in its market with a range of services, including an array of commercial mortgage and non-mortgage loans.
Financial Overview
For the three months ended 31 March 2020, Southern National Banc. of Virginia, Inc interest income decreased 6% to $28.5M. Net interest income after loan loss provision decreased 1% to $20.5M. Net income decreased 100% to $27K. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 3% to 3.32%, Net Interest Spread, Total - % decrease of 2% to 3.01%, Interest and fees on loans decrease of 4% to $26.7M.
Employees: 350 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $260.91M as of Mar 31, 2020
Annual revenue (TTM): $118.70M as of Mar 31, 2020
EBITDA (TTM): $46.61M as of Mar 31, 2020
Net annual income (TTM): $27.17M as of Mar 31, 2020
Free cash flow (TTM): $24.94M as of Mar 31, 2020
Net Debt Last Fiscal Year: $59.72M as of Mar 31, 2020
Shares outstanding: 24,297,703 as of Apr 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization