Southern national bancorp of virginia inc (SONA)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Cash and cash equivalents:
Cash and due from financial institutions

10,145

7,909

5,147

6,898

6,868

6,939

8,457

7,534

6,602

7,937

7,500

6,813

3,901

4,656

4,121

4,367

3,998

3,972

3,772

5,934

4,630

5,702

5,541

4,097

3,710

2,679

4,859

3,349

2,945

4,553

4,229

4,051

2,470

2,432

2,432

2,191

2,180

Interest-bearing deposits in other financial institutions

45,720

24,019

43,425

26,190

24,973

20,877

21,786

40,834

18,293

15,815

15,820

37,787

31,518

42,736

46,285

37,338

30,126

26,364

47,764

68,592

31,787

32,618

40,262

20,134

15,672

18,177

27,491

25,196

51,568

34,647

18,059

23,292

2,579

2,603

4,625

1,495

7,565

Federal funds sold

-

-

-

-

-

795

4,220

3,795

3,730

1,711

623

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total cash and cash equivalents

55,865

31,928

48,572

33,088

31,841

28,611

34,463

52,163

28,625

25,463

23,320

44,600

35,419

47,392

50,406

41,705

34,124

30,336

51,536

74,526

36,417

38,320

45,803

24,231

19,382

20,856

32,350

28,545

54,513

39,200

22,288

27,343

5,049

5,035

7,057

3,686

9,745

Securities available for sale, at fair value

168,520

164,820

163,344

163,860

-

143,377

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Securities available for sale, at fair value

-

-

-

-

156,192

-

144,928

149,836

155,027

160,673

164,237

166,976

4,238

3,918

3,908

3,722

3,871

4,209

4,124

4,133

2,306

2,285

2,271

2,207

2,135

1,993

2,020

2,034

2,229

2,391

49

9,037

9,203

9,905

10,438

10,751

11,068

Securities held to maturity, at amortized cost (fair value of $60,426 and $72,666, respectively)

59,234

72,448

78,790

86,815

90,592

92,462

93,865

96,175

97,582

98,912

100,333

103,055

89,003

85,300

86,958

92,285

98,727

96,780

98,574

93,047

92,065

94,058

89,993

84,830

86,106

82,443

80,831

83,354

81,971

84,051

80,496

61,728

37,579

35,075

38,354

40,021

44,895

Covered loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

81,027

-

80,398

82,935

95,788

Non-covered loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

410,154

-

396,494

394,052

367,266

Total loans

2,212,538

2,186,047

2,141,385

2,172,845

2,157,215

2,178,824

2,161,406

2,154,892

2,106,743

2,062,328

2,035,181

2,033,160

974,222

930,415

912,831

906,336

870,639

829,425

789,555

760,043

729,224

703,472

665,834

590,350

539,049

546,058

526,032

524,284

510,019

530,151

537,769

546,645

491,181

491,768

476,892

-

463,054

Total loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

476,987

-

Less allowance for loan losses

12,722

10,261

11,201

11,613

11,874

12,283

11,451

11,000

10,755

9,397

9,254

9,197

8,678

8,610

8,469

8,421

8,690

8,421

8,158

7,994

7,741

7,414

7,124

7,336

7,356

7,090

7,443

7,296

7,218

7,066

6,911

6,655

6,902

6,295

6,087

6,063

5,599

Net loans

2,199,816

2,175,786

2,130,184

2,161,232

2,145,341

2,166,541

2,149,955

2,143,892

2,095,988

2,052,931

2,025,927

2,023,963

965,544

921,805

904,362

897,915

861,949

821,004

781,397

752,049

721,483

696,058

658,710

583,014

531,693

538,968

518,589

516,988

502,801

523,085

530,858

539,990

484,279

485,473

470,805

470,924

457,455

Loans held for sale

-

-

-

-

-

-

-

-

-

-

-

16,726

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock in Federal Reserve Bank and Federal Home Loan Bank

21,396

17,832

14,602

17,364

18,427

19,522

22,870

26,019

26,801

26,775

24,076

13,808

8,917

7,929

7,504

7,610

7,589

6,929

5,835

6,132

5,667

5,681

6,131

6,908

4,793

5,915

5,240

5,240

5,015

6,212

6,190

6,030

6,653

6,653

-

-

-

Equity investment in mortgage affiliate

5,251

5,020

5,003

4,405

3,847

3,829

4,525

4,597

4,406

4,723

4,617

4,700

4,150

4,629

5,212

4,695

4,539

4,459

-

-

-

3,631

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Equity investment in mortgage affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,462

4,293

3,615

-

3,745

3,570

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred investment in mortgage affiliate

3,305

3,305

3,305

3,305

3,305

3,305

3,305

3,305

3,305

3,305

3,305

3,305

2,555

2,555

2,555

2,555

2,555

2,555

2,555

2,555

1,805

1,805

1,805

1,805

-

0

-

-

-

-

-

-

-

-

-

-

-

Stock in Federal Reserve Bank and Federal Home Loan Bank

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,356

5,972

6,350

Bank premises and equipment, net

31,079

31,184

31,265

30,767

31,478

32,352

33,251

33,808

34,434

35,788

36,289

36,756

8,083

8,227

8,389

8,560

8,744

8,882

9,067

9,198

9,355

9,453

9,443

6,225

6,260

6,324

6,260

6,286

6,404

6,552

6,476

6,132

6,239

6,350

4,700

4,691

4,659

Operating lease right-of-use assets

7,700

8,013

8,400

7,900

7,865

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

101,954

101,954

101,954

101,954

101,954

101,954

101,954

101,954

100,384

100,606

96,990

99,166

10,514

10,514

10,514

10,514

10,514

10,514

10,514

10,514

10,514

10,514

12,073

9,160

9,160

9,160

9,160

9,160

9,160

9,160

9,160

9,160

9,160

9,160

8,713

8,713

8,723

Core deposit intangibles, net

6,850

7,191

7,532

7,884

8,246

8,609

8,971

9,331

9,693

10,054

10,416

11,647

825

874

925

969

1,031

1,093

1,158

1,224

1,289

1,354

1,424

-

768

813

912

1,035

1,157

1,280

1,480

1,716

1,765

1,995

2,225

2,455

2,915

FDIC indemnification asset

-

-

-

-

-

-

826

1,003

1,180

-

1,525

1,698

1,920

2,111

2,306

2,503

2,705

2,922

3,217

3,322

3,439

3,571

3,970

4,378

5,066

5,804

5,338

6,308

6,561

6,735

7,006

7,314

7,549

7,537

18,226

18,088

8,293

FDIC indemnification asset

-

-

-

-

-

-

826

1,003

1,180

-

1,525

1,698

-

2,111

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,549

-

18,226

18,088

8,293

Bank-owned life insurance

64,236

63,850

63,452

63,060

62,674

62,495

62,679

63,183

51,097

50,790

50,491

50,187

23,989

23,826

23,650

23,475

23,300

23,126

21,954

21,294

21,140

20,990

20,829

20,671

20,514

18,374

18,226

18,079

17,931

17,782

17,633

17,485

17,728

17,575

14,435

14,310

14,568

Other real estate owned

5,900

6,200

5,800

5,041

5,041

5,077

5,589

5,560

7,325

7,577

8,053

8,478

8,265

8,617

9,341

9,458

10,106

10,439

11,259

13,647

12,583

13,051

12,955

13,309

13,755

11,792

-

-

-

-

-

-

-

-

-

9,613

-

Deferred tax assets, net

11,154

11,788

14,319

14,475

13,876

14,104

-

-

-

16,903

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,699

14,955

13,910

13,836

13,452

13,458

12,950

14,256

13,097

-

4,577

Deferred tax assets, net

-

-

-

-

-

-

17,648

17,471

17,296

-

24,921

22,573

6,669

6,780

6,784

6,850

6,801

6,716

6,747

6,746

10,068

10,083

8,205

8,107

8,130

8,281

-

-

-

8,174

-

-

-

-

-

-

-

Deferred tax assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,270

8,262

8,192

-

6,153

6,175

6,257

6,255

4,440

4,128

5,937

Other assets

20,363

20,827

22,384

23,129

23,516

19,057

17,713

17,438

17,292

19,752

21,449

23,128

7,242

7,966

12,622

7,877

7,715

6,143

5,488

9,036

5,507

5,791

5,662

6,281

5,466

5,462

5,003

6,478

5,046

5,354

7,021

6,423

6,430

6,104

5,532

8,035

7,469

Total assets

2,762,563

2,722,170

2,698,915

2,724,303

2,704,195

2,701,295

2,702,542

2,725,735

2,650,435

2,614,252

2,596,572

2,630,766

1,177,333

1,142,443

1,135,436

1,120,693

1,084,270

1,036,107

1,017,887

1,011,716

937,253

916,645

883,019

774,696

713,228

716,185

707,898

706,724

714,890

723,812

708,262

711,991

610,841

611,373

605,378

601,387

586,654

LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing demand deposits

338,095

339,153

343,686

335,024

328,808

320,043

339,484

337,151

336,067

319,189

323,722

328,300

101,674

88,783

91,567

88,808

85,217

83,769

72,002

72,503

71,394

69,560

70,679

49,270

46,975

44,643

46,536

45,339

42,324

49,644

43,096

52,706

33,658

32,582

31,791

33,917

34,529

Interest-bearing deposits:
NOW accounts

380,977

391,172

368,354

361,787

361,301

345,597

314,509

322,184

334,667

329,878

326,064

328,410

26,287

26,338

31,197

32,287

27,623

28,080

24,228

23,943

24,002

25,018

23,658

22,028

22,457

24,297

-

-

-

-

-

-

-

-

-

-

-

Cash management accounts

-

-

-

-

-

-

-

-

-

-

-

10,003

10,252

9,658

9,660

10,675

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NOW accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,701

22,008

23,521

22,774

20,520

21,157

17,185

17,497

16,310

15,013

15,961

Money market accounts

477,660

466,867

458,737

444,299

426,072

355,469

307,882

314,570

333,744

355,084

364,420

380,479

127,052

129,835

129,664

126,693

126,578

131,731

145,782

136,744

138,777

137,297

138,390

118,653

127,445

130,855

136,181

146,461

156,097

163,233

167,370

165,310

150,919

148,959

140,781

141,928

169,861

Savings accounts

151,406

144,486

146,119

143,328

148,547

151,050

156,399

162,511

165,089

161,947

166,030

168,029

53,949

52,755

51,114

52,971

51,244

49,939

44,143

42,983

43,590

44,155

41,047

24,111

17,410

16,999

13,933

12,148

10,262

9,618

8,997

8,909

6,978

6,273

6,335

5,814

5,490

Time deposits

727,216

783,040

861,842

865,988

846,325

925,441

906,038

844,287

725,102

699,058

723,373

804,938

577,003

605,613

602,069

591,316

566,876

531,775

544,548

540,857

482,732

466,395

424,311

355,169

342,004

323,565

325,603

319,682

327,169

305,708

297,268

295,920

243,923

255,784

212,765

237,319

205,133

Total interest-bearing deposits

1,737,259

1,785,565

1,835,052

1,815,402

1,782,245

1,777,557

1,684,828

1,643,552

1,558,602

1,545,967

1,579,887

1,691,859

794,543

824,199

823,704

813,942

772,321

741,525

758,701

744,527

689,101

672,865

627,406

519,961

509,316

495,716

499,418

500,299

517,049

501,333

494,155

491,296

419,005

428,513

376,191

400,074

396,445

Total deposits

2,075,354

2,124,718

2,178,738

2,150,426

2,111,053

2,097,600

2,024,312

1,980,703

1,894,669

1,865,156

1,903,609

2,020,159

896,217

912,982

915,271

902,750

857,538

825,294

830,703

817,030

760,495

742,425

698,085

569,231

556,291

540,359

545,954

545,638

559,373

550,977

537,251

544,002

452,663

461,095

407,982

433,991

430,974

Securities sold under agreements to repurchase - short term

13,179

12,883

14,355

14,319

13,623

18,721

19,431

20,289

15,778

15,468

16,416

8,143

-

-

-

-

11,045

10,381

-

-

-

13,794

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Federal Home Loan Bank (FHLB) advances

205,140

121,640

45,640

110,640

135,640

163,340

242,115

316,215

334,615

335,615

272,115

201,475

116,000

95,000

75,000

77,500

72,000

59,000

-

-

-

15,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Junior subordinated debt - long term

9,600

9,600

9,620

9,608

9,596

9,600

9,571

9,559

9,547

9,534

9,522

9,460

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior subordinated notes - long term

47,041

47,051

47,061

47,070

47,080

47,100

-

-

-

47,128

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

8,509

8,469

8,830

8,400

8,856

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior subordinated notes - long term

-

-

-

-

-

-

47,099

47,109

47,118

-

47,138

47,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

26,075

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Securities sold under agreements to repurchase and other short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55,945

45,036

29,858

-

37,779

66,852

19,727

39,795

20,481

20,530

15,611

33,411

32,713

31,029

23,346

17,736

19,452

19,968

23,908

Federal Home Loan Bank (FHLB) advances-long term

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

10,000

15,000

15,000

5,000

25,000

25,000

25,000

25,000

25,000

25,000

25,000

30,250

30,250

30,250

30,250

30,250

30,250

30,000

30,000

72,500

43,500

35,000

Other liabilities

24,873

20,536

24,041

21,063

25,658

16,671

19,170

17,410

20,643

18,579

21,762

21,113

10,753

8,117

10,120

7,486

7,531

6,796

5,934

5,577

6,770

6,197

5,775

4,771

4,563

4,417

5,241

5,370

5,506

5,998

4,025

3,698

4,068

3,491

2,377

2,128

2,441

Total liabilities

2,383,741

2,344,929

2,328,285

2,361,511

2,351,506

2,353,005

2,361,698

2,391,285

2,322,370

2,291,480

2,270,562

2,307,500

1,049,045

1,016,099

1,010,391

997,736

963,114

916,471

897,582

892,643

822,123

802,666

766,639

665,854

605,581

609,571

601,926

601,788

610,740

620,636

604,239

608,979

510,077

512,322

502,311

499,587

492,323

Commitments and contingencies (See Note 6)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Stockholders' equity:
Preferred stock, $0.01 par value. Authorized 5,000,000 shares; no shares issued and outstanding

-

-

-

-

-

-

0

0

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

Common stock, $0.01 par value. Authorized 45,000,000 shares; 24,297,703 and 24,181,534 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively

242

241

241

241

241

240

240

240

240

239

239

239

123

123

123

122

122

122

122

122

122

122

122

116

116

116

-

-

-

-

-

-

-

-

116

116

116

Preferred stock, $.01 par value. Authorized 5,000,000 shares; no shares issued and outstanding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

-

-

-

Common stock, $.01 par value. Authorized 45,000,000 shares; issued and outstanding, 11,590,612 and 11,590,212 shares at December 31, 2013 and 2012, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116

116

116

116

116

116

116

116

-

-

-

Additional paid in capital

308,352

306,755

306,609

306,049

305,879

305,654

305,583

305,460

305,360

304,932

-

304,562

105,544

104,884

104,805

104,629

104,543

104,389

104,033

104,301

104,167

104,072

103,791

97,425

97,234

97,127

97,048

96,966

96,904

96,840

96,791

96,742

96,695

-

96,598

96,551

96,478

Additional paid in capital

-

-

-

-

-

-

-

-

-

-

304,682

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

96,645

-

-

-

Retained earnings

67,061

69,462

62,674

55,983

48,300

44,985

39,205

32,269

25,324

18,753

21,827

19,366

23,195

22,126

20,915

19,131

17,321

15,735

16,820

15,317

13,832

12,805

15,486

14,352

13,392

12,561

11,977

11,007

10,147

9,201

10,100

9,181

7,140

5,472

9,588

8,285

1,071

Accumulated other comprehensive income

3,167

783

1,106

519

-1,731

-2,589

-4,184

-3,519

-2,859

-1,152

-738

-901

-574

-789

-798

-925

-830

-610

-670

-667

-2,991

-3,020

-3,019

-3,051

-3,095

-3,190

-3,169

-3,153

-3,017

-2,981

-2,984

-3,027

-3,187

-3,182

-3,235

-3,152

-3,334

Total stockholders' equity

378,822

377,241

370,630

362,792

352,689

348,290

340,844

334,450

328,065

322,772

326,010

323,266

128,288

126,344

125,045

122,957

121,156

119,636

120,305

119,073

115,130

113,979

116,380

108,842

107,647

106,614

105,972

104,936

104,150

103,176

104,023

103,012

100,764

99,051

-

-

94,331

Total stockholders' equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103,067

101,800

-

Total liabilities and stockholders' equity

2,762,563

2,722,170

2,698,915

2,724,303

2,704,195

2,701,295

2,702,542

2,725,735

2,650,435

2,614,252

2,596,572

2,630,766

1,177,333

1,142,443

1,135,436

1,120,693

1,084,270

1,036,107

1,017,887

1,011,716

937,253

916,645

883,019

774,696

713,228

716,185

707,898

706,724

714,890

723,812

708,262

711,991

610,841

611,373

605,378

601,387

586,654