SONABANK in Mclean, Virginia (VA), MD
Overview, Financial Summary, Detailed Financial Reports, Branches


SONABANK - Overview

  • General
  • FDIC Certificate #: 57968
    Status: Active
    Federal Reserve ID: 3325759
    Bank Holding Company (Regulatory Top Holder): Southern National Bancorp Of Virginia, Inc. (RSSDID: 3325740, Location: Mclean, VA)
    Date Established: April 14, 2005
    WWW: http://www.sonabank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 13 (Domestic: 13, Interstate: Yes)
    FDIC's unique #: 432804
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 14, 2005
    Last Structure Change Effective Date: December 04, 2009
    Last Structure Change Process Date: December 07, 2009
    Last Data Update: December 07, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 6830 Old Dominion Drive, Mclean, VA 22101
    County: Fairfax
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
    Corrections
  • Financial Summary
  • Total assets: $611.5 mil
    Equity capital: $95.6 mil
    Deposits held in domestic offices: $464.7 mil
    Return on assets (ROA): 0.93% ($5.7 mil)
    Quarterly return on assets: 1.19% ($7.3 mil)
    Return on Equity (ROE): 5.77% ($5.5 mil)
    Quarterly return on equity: 7.42% ($7.1 mil)
    Net income: $5.6 mil
    Quarterly Net income: $1.8 mil
    Pretax return on assets: 1.32% ($8,071.9 mil)
    Quarterly Pretax return on assets: 1.78% ($10,884.8 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 112Total employees (full-time equivalent)
  • $611,507Total assets
  • $5,042Cash and due from depository institutions
  • $2,603Interest-bearing balances
  • $44,980Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $486,675Net loans & leases
  • $6,295Loan loss allowance
  • $0Trading account assets
  • $6,350Bank premises and fixed assets
  • $14,256Other real estate owned
  • $11,335Goodwill and other intangibles
  • $611,507Life insurance assets
  • $42,869All other assets
  • $515,932Total liabilities and capital
  • $464,714Total liabilities
  • $428,513Total deposits
  • $464,714Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 14236.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $33,500Trading liabilities
  • $0Other borrowed funds
  • $3,482Subordinated debt
  • $95,575All other liabilities
  • $95,575Total equity capital
  • $95,575Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $92,901Surplus
  • $2,674Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,049Income earned, not collected on loans
  • $2,462Earning assets
  • $2,118Long-term assets (5+ years)
  • $534,258Average Assets, year-to-date
  • $148,134Average Assets, quarterly
  • $599,776Volatile liabilities
  • $608,339Insider loans
  • $468,987FHLB advances
  • $607,955Loans and leases held for sale
  • $17,575Unused loan commitments
  • $17,575Tier 1 (core) risk-based capital
  • $87,241Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $107,253Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $33,423Total interest income
  • $6,087Total interest expense
  • $27,336Net interest income
  • $6,790Provision for loan and lease losses
  • $2,474Total noninterest income
  • $0Fiduciary activities
  • $327Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,147Additional noninterest income
  • $14,771Total noninterest expense
  • $6,787Salaries and employee benefits
  • $2,796Premises and equipment expense
  • $5,188Additional noninterest expense
  • $8,249Pre-tax net operating income
  • -$329Securities gains (losses)
  • $2,316Applicable income taxes
  • $5,604Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,604Net income attributable to bank
  • $0Net charge-offs
  • $5,604Cash dividends
  • $6,094Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.39%Yield on earning assets
  • 1.16%Cost of funding earning assets
  • 5.23%Net interest margin
  • 0.47%Noninterest income to earning assets
  • 2.83%Noninterest expense to earning assets
  • 0.97%Net operating income to assets
  • 0.93%Return on assets (ROA)
  • 1.32%Pretax return on assets
  • 5.77%Return on equity (ROE)
  • 5.77%Retained earnings to average equity (YTD only)
  • 1.29%Net charge-offs to loans
  • 111.42%Credit loss provision to net charge-offs
  • 2.47%Efficiency ratio
  • 46,468Assets per employee
  • 5.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.28%Loss allowance to noncurrent loans
  • 78.21%Noncurrent assets plus other real estate owned to assets
  • 3.65%Noncurrent loans to loans
  • 1.63%Net loans and leases to deposits
  • 104.73%Net loans and leases to core deposits
  • 116.04%Equity capital to assets
  • 15.63%Core capital (leverage) ratio
  • 14.35%Tier 1 risk-based capital ratio
  • 18.60%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $599,776Average earning assets
  • $97,197Average equity
  • $522,747Average loans

List of branches

  • 1 Maryland Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    9288391Rockville Branch11834 Rockville Pike, Rockville, MD 20852May 04, 1998Full Service Brick and Mortar
  • 12 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0432804Sonabank6830 Old Dominion Drive, Mclean, VA 22101April 14, 2005Full Service Brick and Mortar
    1363900Clifton Forge Branch511 Main Street, Clifton Forge, VA 24422December 07, 2001Full Service Brick and Mortar
    3464057Warrenton Branch550 Broadview Avenue, Warrenton, VA 20186April 19, 2007Full Service Brick and Mortar
    4466315Reston Branch11527 Sunrise Valley Drive, Reston, VA 20191December 05, 2006Full Service Brick and Mortar
    5466316Fairfax Branch10855 Fairfax Boulevard, Fairfax, VA 22030December 05, 2006Full Service Brick and Mortar
    6474374Leesburg Branch1 East Market Street, Leesburg, VA 20176Febuary 11, 2008Full Service Brick and Mortar
    7495017Forest Lakes Branch1770 Timberwood Boulevard, Suite 100, Charlottesville, VA 22911January 01, 2009Full Service Brick and Mortar
    1044282Front Royal Branch1 South Royal Avenue, Front Royal, VA 22630July 20, 1964Full Service Brick and Mortar
    11284907New Market Branch9484 Congress St, New Market, VA 22844June 30, 1989Full Service Brick and Mortar
    13464157South Riding Branch43086 Peacock Market Plaza, South Riding, VA 20152October 01, 2000Full Service Brick and Mortar
    14443461Old Town Warrenton Branch11a Main Street, Warrenton, VA 20186September 15, 2004Full Service Brick and Mortar
    15521520Middleburg Branch10 West Washington Street, Middleburg, VA 20118May 09, 2011Full Service Brick and Mortar

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