Southern national bancorp of virginia inc (SONA)
CashFlow / Quarterly
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'11Mar'11
Operating activities:
Net income

27

8,964

8,864

9,319

6,020

7,704

8,861

8,867

8,259

-1,161

4,374

-2,842

2,054

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,765

2,790

2,565

-

2,481

2,466

2,004

1,961

2,108

1,772

1,642

1,396

1,781

1,555

1,526

1,303

1,208

2,215

1,843

255

1,409

1,447

1,290

Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation and amortization

1,364

1,106

1,115

1,670

1,741

1,877

1,794

2,891

841

3,345

856

247

179

185

198

207

208

208

217

224

227

215

198

179

172

170

166

162

167

161

141

142

147

147

140

127

126

Amortization of operating lease right-of-use assets

1,038

645

626

689

586

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other amortization, net

-

-

-

-

-

-

-

-

677

-

523

56

54

-

-

-

-

30

57

71

-9

43

73

23

47

69

75

95

105

104

96

70

44

34

22

14

-37

Accretion of loan discount

597

1,170

901

972

816

861

1,220

1,241

1,212

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of loan discount

-

-

-

-

-

-

-

-

-

-

-1,473

-499

-349

-

-472

-491

-502

-569

-529

-700

-712

-311

-831

-768

-706

-782

-1,148

-802

-775

-

-

-

-

-

-

-

-

Amortization of FDIC indemnification asset

-

118

177

177

177

177

177

177

173

172

173

176

191

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of core deposit intangible

341

341

352

362

363

362

360

361

362

362

360

74

49

51

44

62

62

65

66

65

65

69

61

45

45

99

122

123

123

199

236

228

230

229

230

230

230

Accretion of loan discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

917

888

1,472

720

807

775

970

Amortization of FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

187

203

216

-

105

117

129

-

402

311

124

-

113

107

130

170

242

253

-14

-

-

-

-

Increase (decrease) in FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16

Provision for loan losses

3,450

0

150

0

200

500

1,050

1,050

1,600

1,775

5,250

1,050

550

850

2,050

1,387

625

296

850

1,500

525

1,100

975

194

1,175

600

1,197

725

1,093

1,590

1,830

1,325

1,450

3,352

1,550

2,250

1,340

Earnings on bank-owned life insurance

386

265

392

385

523

520

407

399

307

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings on bank-owned life insurance

-

-

-

-

-

-

-

-

-

-

-

163

163

-

175

175

174

172

160

154

150

162

158

157

140

147

148

148

149

148

149

347

153

140

129

932

135

Equity (gain) loss on mortgage affiliate

231

16

599

558

18

-696

-72

191

-317

105

-83

112

-479

-272

749

552

80

189

492

794

-16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

1,404

80

85

163

104

-47

158

94

75

66

84

41

60

62

62

57

79

79

83

84

85

84

82

74

77

79

79

62

64

49

49

47

50

47

47

47

26

Net gain on sale of available for sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

142

-

-

-

-

-

-

-

-

Gain on sale of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

657

395

0

0

0

Impairment on securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

480

235

2

216

43

38

32

Impairment on securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

25

16

-

0

0

3

-

-

-

-

-

-

-

-

(Gain) loss on other real estate owned

-71

0

0

36

2

-299

99

40

-200

-307

106

-266

-53

-100

9

37

-120

69

-97

57

-320

0

194

-180

419

-392

698

-62

-56

-256

24

-2,201

-199

-150

0

-108

-39

Net (increase) decrease in other assets

-464

-1,439

-568

-210

4,420

766

251

123

-1,353

-3,832

-2,527

1,010

-720

-4,618

-26

171

1,549

5,028

-3,538

-850

-255

71

-602

-509

-121

2,626

-1,640

-335

-286

-1,525

660

-9

-195

-1,160

-1,144

441

202

Net increase (decrease) in other liabilities

3,687

-4,152

2,348

-5,279

8,641

-2,502

1,762

-4,233

2,064

-2,836

-361

-3,126

2,636

-2,003

2,634

-44

734

862

357

-1,193

573

421

506

208

146

-824

-129

-136

-492

1,973

327

-505

577

468

249

-714

1,014

Net cash and cash equivalents provided by operating activities

10,291

9,232

12,041

3,801

11,690

9,678

11,711

5,649

14,402

12,186

11,987

-6,099

6,513

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash and cash equivalents provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,597

3,139

2,304

-

6,670

1,959

3,328

3,273

3,648

2,264

2,300

-1,339

3,050

2,140

1,995

4,310

2,572

1,514

2,441

4,389

4,686

1,342

2,737

Investing activities:
Proceeds from sales of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

159

-

-

-

-

-

-

-

-

Purchases of held to maturity investment securities

15,200

-

-

-

-

-

-

-

-

0

0

0

9,950

0

20,992

14,069

10,994

-

-

-

-

6,041

6,565

678

5,000

3,421

0

5,104

6,241

7,279

22,410

0

5,000

-

0

0

0

Purchases of available for sale investment securities

10,000

10,000

10,000

9,787

15,313

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from paydowns, maturities and calls of available for sale investment securities

8,907

8,132

10,440

4,539

3,172

3,287

3,710

3,949

3,414

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

372

236

710

452

274

224

265

Proceeds from paydowns, maturities and calls of held to maturity investment securities

28,271

11,321

18,222

3,685

1,778

1,254

2,203

1,308

1,190

1,285

2,611

937

6,204

1,646

26,297

20,620

9,059

3,781

3,425

4,347

2,054

1,955

1,352

1,944

1,320

1,781

2,483

3,661

8,353

3,654

3,598

2,866

2,509

3,279

1,576

1,570

3,486

Net (increase) decrease of FRB and FHLB stock

-3,564

-3,230

2,762

1,063

1,095

3,348

3,149

782

-26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (increase) decrease in loans

26,883

44,942

-30,987

14,919

-21,815

16,224

5,893

48,283

43,445

52,950

-12,164

19,283

43,940

17,885

12,801

36,862

41,212

37,335

29,805

34,956

25,238

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan originations and payments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-50,747

2,397

-

-3,216

-17,603

17,823

6,063

8,218

6,859

-3,839

-20,070

-4,191

-17,848

-7,075

Purchase of bank-owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,000

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from bank-owned life insurance death benefit

-

1

0

-1

344

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales of other real estate owned, net of improvements

277

121

19

36

38

213

70

1,805

52

-

-

-

-

624

124

685

357

1,140

2,427

333

148

247

605

-354

2,778

285

1,324

565

2,013

329

30

596

511

1,221

83

383

388

Net (increase) decrease in stock in Federal Reserve Bank and Federal Home Loan Bank

-

-

-

-

-

-

-

-

-

-

10,268

-1,843

988

425

-106

21

660

1,094

-297

465

-14

-450

-870

2,115

-1,122

675

0

225

-1,197

-

-

-

-

-

-

-

-

Payments received on FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

298

-

-

-

-

0

0

0

3

19

14

366

638

1

845

154

17

180

66

87

2

55

1

103

696

Proceeds from sales of bank premise and equipment and assets held for sale

-

-

-

-

-

0

0

0

2,136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of bank premises and equipment

383

597

431

66

7

-72

240

182

1,623

675

411

304

35

23

27

23

70

27

84

67

129

233

394

158

112

233

140

45

19

236

485

36

36

88

149

268

17

Proceeds from sale of SBA loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,713

4,252

0

0

0

Net cash and cash equivalents provided by (used in) investing activities

-18,552

-44,274

41,794

-15,460

12,922

-7,346

4,096

-52,144

-38,302

-32,002

6,347

12,060

-48,411

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash and cash equivalents used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,051

-29,274

-43,520

-

-32,913

-34,632

-23,148

-41,916

7,803

-56,785

1,143

-17,812

1,296

-18,597

23,302

380

-2,271

78,904

570

27,204

-3,790

-15,458

-2,257

Financing activities:
Net increase (decrease) in deposits

-49,364

-54,020

28,312

39,373

13,464

73,107

43,411

85,838

29,315

-47,682

-108,377

-23,977

-16,765

-2,289

12,521

34,831

32,244

-5,409

13,673

56,535

18,070

44,340

39,626

12,940

15,932

-5,595

316

-13,735

8,396

13,726

-6,751

-49,145

-8,432

10,601

-26,009

1,633

1,384

Cash dividends paid on common stock

2,428

2,176

2,173

2,171

2,170

1,924

1,925

1,922

1,917

1,913

1,913

987

985

981

981

980

979

3,422

979

981

977

4,642

974

812

811

812

811

695

580

2,202

289

174

175

-

0

0

0

Issuance of common stock for warrants exercised

-

-

-

-

-

-

-

-

-

0

0

0

449

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock under Stock Incentive Plan

194

66

475

7

122

118

-35

6

354

184

36

184

151

17

14

29

75

276

6

415

10

197

542

117

30

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of subordinated notes, net of cost

-

-

-

-

-

-

-

-

-

0

0

0

26,075

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease (increase) in short-term borrowings

83,796

74,528

-64,965

-24,303

-32,798

-79,485

-74,958

-13,889

-690

71,370

70,640

28,000

21,000

5,000

-2,500

4,836

13,664

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in securities sold under agreement to repurchase and other short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,091

-15,178

-814

8,735

29,073

-47,125

20,068

-14,064

49

-4,919

17,800

-698

-1,684

-7,683

-5,610

1,716

516

-87

4,027

Net increase (decrease) in securities sold under agreement to repurchase and other short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

516

-87

4,027

Net cash and cash equivalents (used in) provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,155

33,716

45,004

-

3,253

70,782

17,917

31,160

10,121

59,370

-4,917

7,657

-541

-9,511

-9,984

12,222

-5,356

-58,124

-2,997

-33,615

2,475

10,220

-2,643

Net cash and cash equivalents provided by (used in) financing activities

32,198

18,398

-38,351

12,906

-21,382

-8,184

-33,507

70,033

27,062

21,959

-39,614

3,220

29,925

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash and cash equivalents

23,937

-16,644

15,484

1,247

3,230

-5,852

-17,700

23,538

3,162

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-21,280

9,181

-11,973

-

8,701

7,581

3,788

-21,200

-22,990

38,109

-1,903

-7,483

21,572

4,849

-1,474

-11,494

3,805

-25,968

15,313

16,912

-5,055

22,294

14

-2,022

3,371

-3,896

-2,163

Supplemental disclosure of cash flow information
Cash payments for:
Interest

7,848

8,905

8,454

9,654

8,989

7,989

6,477

6,765

4,898

5,340

4,598

2,343

2,290

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes

-

-

-

-

-

0

2,156

4,045

471

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,101

2,186

1,903

-

1,842

1,570

1,486

1,310

1,102

1,007

1,035

1,167

1,093

1,125

1,201

1,469

1,479

1,565

1,420

1,433

1,456

1,610

1,640

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

825

1,958

700

656

27

1,700

610

1,045

115

1,205

918

1,485

875

875

1,363

920

588

1,075

125

580

30

825

0

Supplemental schedule of noncash investing and financing activities
Initial recognition of operating lease right-of-use assets

-

0

0

319

8,296

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Initial recognition of operating lease liabilities

-

0

0

-206

9,305

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfer from non-covered loans to other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,409

0

1,439

1,293

312

-

-

-

-

2,530

3,567

2,151

3,759

Transfer from covered loans to other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

144

-

-

-

-

-

-

-

-

0

127

2,200

1,831

-

-

-

-

-

-

-

-