Welcome to our dedicated page for SONA news (Ticker: SONA), a resource for investors and traders seeking the latest updates and insights on SONA stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SONA's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SONA's position in the market.
Primis Financial Corp., formerly known as Southern National Bancorp of Virginia, has officially changed its name and trading symbol. Effective March 31, 2021, the company trades under the new symbol FRST on NASDAQ. The change reflects a strategic rebranding aimed at enhancing customer and shareholder engagement. As of December 31, 2020, the company reported total assets of $3.09 billion, total loans of $2.44 billion, and total deposits of $2.43 billion. The transition aims to create a more innovative brand identity.
Southern National Bancorp of Virginia reported a net income of $9.0 million for Q4 2020, matching the previous year, and an annual earnings drop to $23.3 million from $33.2 million in 2019. EPS remained unchanged at $0.37 for the quarter, but declined to $0.96 for the year from $1.38. The company declared a $0.10 dividend and announced a name change to Primis Financial Corp. beginning March 31, 2021. Adjusted earnings for Q4 were $6.39 million, reflecting ongoing expenses and credit loss provisions due to the pandemic.
Southern National Bancorp of Virginia (NASDAQ: SONA) announced the appointment of Matthew A. Switzer as Executive Vice President and Chief Financial Officer, succeeding Jeff Karafa, who will continue as Chief Accounting Officer. Switzer brings over 15 years of investment banking experience, focusing on community banks in mergers, acquisitions, and capital strategy. Southern National reported assets of $3.15 billion, loans of $2.52 billion, and deposits of $2.22 billion as of September 30, 2020.
Southern National Bancorp of Virginia (NASDAQ: SONA) reported net income of $9.6 million for Q3 2020, up from $8.9 million in Q3 2019. The earnings per share rose to $0.40 basic. However, earnings for the first nine months of 2020 decreased to $14.3 million from $24.2 million year-over-year. Total revenue was $29.3 million, marking a 22% increase from last year. The dividend declared is $0.10 per share, indicating the 36th consecutive quarterly dividend. The company achieved a significant reduction in deferred loans, illustrating improved credit quality.
Southern National Bancorp of Virginia (NASDAQ: SONA) has appointed Deborah Diaz to its Board of Directors. With over 30 years of experience, including prior roles at NASA and the Department of Homeland Security, Diaz brings expertise in financial stewardship, technology, and cybersecurity. Her addition aims to enhance the board's capabilities as the company continues to grow. As of June 30, 2020, Southern National reported total assets of $3.1 billion, with $2.5 billion in loans and $2.2 billion in deposits.
Southern National Bancorp of Virginia (NASDAQ: SONA) has successfully completed its underwritten offering of $60 million in 5.40% Fixed-to-Floating Rate Subordinated Notes, due in 2030. The proceeds will support general corporate purposes, including working capital, debt repayment, and increasing regulatory capital for Sonabank. As of June 30, 2020, the company reported total assets of $3.1 billion, total loans of $2.5 billion, and total deposits amounting to $2.2 billion. Janney Montgomery Scott and Piper Sandler managed the offering.
Southern National Bancorp of Virginia (NASDAQ: SONA) announced a public offering of $60 million in 5.40% fixed-to-floating subordinated notes due 2030. Interest accrues at 5.40% until September 1, 2025, switching to a floating rate thereafter. Proceeds will support general corporate purposes, working capital, and regulatory capital for Sonabank. The offering is expected to close on August 25, 2020. Janney Montgomery Scott and Piper Sandler are the lead managers for the offering, with a registration statement filed with the SEC.
Southern National Bancorp of Virginia (NASDAQ: SONA) reported a net income of $4.7 million for Q2 2020, down from $9.3 million in Q2 2019. Earnings per share were $0.19 diluted compared to $0.39 the previous year. Despite challenges from the pandemic, the company originated approximately 3,800 PPP loans totaling $335.6 million. The bank experienced record non-interest income of $8.4 million, attributed to increased activity from Southern Trust Mortgage. The total assets rose to $3.1 billion, while the tangible book value increased by 6.9% year-over-year.
