Southern National Bancorp of Virginia Inc SONA Income Statement

Southern national bancorp of virginia inc (SONA)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income:
Interest and fees on loans
26,741	27,489	28,340	28,378	27,974	28,659	27,952	27,697	25,905	25,945	26,726	13,332	11,761	11,558	11,792	11,241	10,757	10,484	10,099	9,970	9,551	9,574	9,181	8,100	7,756	7,993	8,168	7,765	8,343	8,859	9,008	8,768	8,611	8,023	8,165	7,559	7,531	7,578	7,829
Interest and dividends on taxable securities
1,244	1,364	1,375	1,475	1,425	1,432	1,438	1,400	1,482	1,457	1,464	618	538	560	581	797	681	623	587	531	654	605	551	570	513	494	504	507	530	-	490	509	-	419	457	482	556	630	684
Interest and dividends on tax exempt securities
117	132	145	152	156	157	158	160	159	159	159	90	84	84	84	84	84	109	100	101	101	100	101	96	92	78	71	50	38	-	-	-	402	-	-	-	-	-	-
Interest and dividends on other earning assets
379	367	614	388	748	884	493	412	467	402	458	209	162	162	162	169	151	170	362	130	129	261	151	160	280	132	104	227	112	112	102	84	61	62	66	51	52	47	48
Interest on federal funds sold
-	-	-	-	-	18	13	14	7	-	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total interest and dividend income
28,481	29,354	30,474	30,393	30,303	31,150	30,054	29,683	28,020	27,965	28,811	14,249	12,545	12,364	12,619	12,291	11,673	11,386	11,148	10,732	10,435	10,540	9,984	8,926	8,641	8,697	8,847	8,549	9,023	9,526	9,600	9,361	9,074	8,504	8,688	8,092	8,139	8,255	8,561
Interest expense:
Interest on deposits
6,503	7,485	8,001	7,654	7,462	6,162	4,993	3,810	3,270	3,184	3,391	2,258	2,160	2,183	2,128	1,978	1,812	1,773	1,796	1,525	1,339	1,197	986	897	896	961	966	1,020	1,100	1,234	1,304	1,301	1,197	1,237	1,217	1,249	1,277	1,825	1,790
Interest on repurchase agreements
19	22	20	22	23	27	24	24	22	-	12	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on junior subordinated debt
139	131	158	150	150	150	150	147	128	-	120	9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on senior subordinated notes
712	712	711	712	712	711	713	712	711	711	712	442	329	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
593	335	569	891	1,004	-	1,586	1,816	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
-	-	-	-	-	-	-	-	1,389	-	726	334	165	107	118	139	150	20	169	183	169	183	186	170	158	156	157	155	153	163	165	227	237	250	272	267	318	343	330
Total interest expense
7,966	8,685	9,459	9,429	9,351	8,346	7,466	6,509	5,520	4,994	4,961	3,044	2,654	2,308	2,246	2,117	1,962	1,896	1,965	1,708	1,508	1,380	1,172	1,067	1,054	1,117	1,123	1,175	1,253	1,397	1,469	1,528	1,434	1,487	1,489	1,516	1,595	2,168	2,120
Net interest income
20,515	20,669	21,015	20,964	20,952	22,804	22,588	23,174	22,500	22,971	23,850	11,205	9,891	10,056	10,373	10,174	9,711	9,490	9,183	9,024	8,927	9,160	8,812	7,859	7,587	7,580	7,724	7,374	7,770	8,129	8,131	7,833	7,640	7,017	7,199	6,576	6,544	6,087	6,441
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	1,025	1,450
Net interest income after provision for loan losses
17,065	20,669	20,865	20,964	20,752	22,304	21,538	22,124	20,900	21,196	18,600	10,155	9,341	9,206	8,323	8,787	9,086	9,194	8,333	7,524	8,402	8,060	7,837	7,665	6,412	6,980	6,527	6,649	6,677	6,539	6,301	6,508	6,190	3,665	5,649	4,326	5,204	5,062	4,991
Noninterest income:
Account maintenance and deposit service fees
1,698	1,847	1,837	1,788	1,687	-	1,398	1,375	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Account maintenance and deposit service fees
-	-	-	-	-	-	-	-	1,408	-	1,518	367	213	220	225	228	223	249	243	239	222	233	220	195	178	199	198	203	193	208	222	206	196	197	218	218	200	210	235
Income from bank-owned life insurance
386	399	392	385	523	520	593	563	307	298	305	163	163	176	175	175	174	172	160	154	150	161	159	157	140	148	147	148	149	149	148	347	153	139	129	933	135	140	137
Equity gain from mortgage affiliate
231	16	599	558	18	-696	-72	191	-317	105	-83	112	-479	-272	749	552	80	190	492	793	-16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity income from mortgage affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	176	331	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of SBA loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	657	395	0	0	0	-	-
Bargain purchase gain on acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,484	-	-	0	0	-	-	-
Net gain on other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	-	0	0	0	202	-	-	13	-	-	-	-	-	-	-	-	-	-	-
Gain on other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	-	0	0	0	-	-
Gain on sales of investment securities
-	-	-	-	-	-	-	-	-	-	-2	257	-	-	-	-	-	-	-	520	-	-	-	-	-	0	0	0	142	-	287	-13	-	-	0	0	-	142	0
Recoveries related to acquired charged-off loans and investment securities
184	477	145	324	591	210	667	250	1,483	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other-than-temporary impairment losses (OTTI)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	25	16	0	0	0	3	0	480	235	6	216	43	38	32	127	4
Portion of OTTI recognized in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	-4	-	0	0	0	-	-
Portion of OTTI recognized in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net credit related OTTI recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	25	16	0	0	0	3	0	480	235	2	216	43	38	32	127	4
Other
321	620	1	136	243	117	52	174	198	-311	561	-17	36	28	26	37	24	42	69	46	49	56	54	55	37	47	30	84	55	57	63	81	53	57	62	44	44	20	148
Total noninterest income
2,820	3,359	2,974	3,191	3,062	1,929	2,638	2,553	3,079	2,315	2,299	882	-67	152	1,175	992	501	653	964	1,759	405	501	609	713	541	394	375	448	536	613	240	3,870	872	719	366	1,049	308	-50	535
Noninterest expenses:
Salaries and benefits
12,309	6,738	6,567	7,144	5,812	6,847	7,080	7,007	6,772	6,535	7,746	3,106	2,898	2,922	2,699	2,926	3,128	3,329	2,892	2,836	2,803	2,738	2,671	2,427	2,389	2,303	2,338	2,176	2,246	2,125	2,073	1,970	1,825	1,720	1,759	1,705	1,603	1,634	-
Salaries and benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,523
Occupancy expenses
1,939	1,632	968	1,801	1,803	1,662	1,660	1,656	1,650	1,471	1,703	844	791	778	783	785	809	765	807	826	871	830	804	759	772	782	768	753	760	738	753	705	582	574	573	554	539	520	527
Furniture and equipment expenses
619	757	514	738	710	666	620	712	797	827	907	247	247	255	283	248	189	187	194	224	210	217	195	188	187	200	197	171	156	173	149	143	156	149	140	131	136	142	151
Amortization of core deposit intangible
341	341	352	362	363	362	360	361	362	361	360	75	49	51	44	62	62	65	66	65	65	69	61	45	45	98	123	123	123	199	236	228	230	229	230	230	230	236	236
Virginia franchise tax expense
570	562	563	563	563	492	491	492	364	364	364	130	111	97	96	97	97	88	88	88	88	113	113	113	116	114	115	115	127	147	145	145	145	173	171	171	171	184	184
FDIC assessment
-	-	-	-	-	-	-	-	335	-	186	68	137	64	165	168	146	162	174	156	172	168	149	127	125	147	218	224	234	148	146	142	129	124	125	119	154	139	212
Data processing expense
707	676	622	571	512	480	475	464	466	282	440	210	208	211	184	177	172	170	164	170	164	163	146	134	126	129	131	154	148	160	175	162	137	146	126	132	142	139	159
Telephone and communication expense
368	357	477	406	375	475	465	501	594	510	567	183	162	159	201	198	187	182	197	201	206	195	198	180	178	177	166	163	178	185	183	133	102	103	101	100	88	100	101
Amortization of FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	173	176	191	187	187	203	216	279	105	117	129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	403	311	124	-	113	107	130	170	242	253	-14	-13	-13	-57	-16	-	-
Net (gain) loss on other real estate owned
-71	0	0	36	2	-299	99	40	-200	-307	106	-266	-53	-101	9	38	-120	69	-97	57	-320	0	194	-180	419	-392	698	-62	-56	-256	24	-2,201	-199	-150	0	-108	-39	-435	19
Professional fees
1,193	465	673	1,381	1,093	-	370	839	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger expenses
-	-	-	-	-	-	-	-	-	-	168	8,603	323	-	-	-	-	-	-	-	-	0	65	209	213	-	-	-	-	-	11	349	-	-	0	0	-	-	-
Change in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-193	406
Other operating expenses
1,735	2,268	1,878	962	5,061	2,026	1,693	1,625	2,079	1,963	1,928	933	883	573	725	771	907	1,139	787	963	793	763	678	972	663	772	790	750	793	720	665	732	1,020	538	702	550	557	489	528
Total noninterest expenses
19,852	13,796	12,614	13,892	16,290	13,409	13,115	13,617	13,619	13,819	14,436	14,841	6,053	5,827	5,358	5,597	6,033	6,297	5,571	5,589	5,821	5,648	5,289	5,645	4,519	5,282	4,261	4,798	4,951	5,220	4,754	7,163	4,312	4,040	3,914	3,635	3,604	3,390	4,027
Income before income taxes
33	10,232	11,225	10,263	7,524	10,824	11,061	11,060	10,360	9,692	6,463	-3,804	3,221	3,531	4,140	4,182	3,554	3,550	3,726	3,694	2,986	2,913	3,157	2,733	2,434	2,092	2,641	2,299	2,262	1,932	1,787	3,215	2,750	344	2,101	1,740	1,908	1,622	-
Income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,499
Income tax expense
6	1,268	2,361	944	1,504	3,120	2,200	2,193	2,101	10,853	2,089	-962	1,167	1,338	1,375	1,393	989	1,212	1,245	1,228	982	952	1,049	961	792	695	861	744	736	629	579	1,000	907	89	692	293	618	517	474
Net income
-	-	-	-	-	-	-	-	-	-	4,374	-2,842	2,054	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,105	1,025
Net income
27	8,964	8,864	9,319	6,020	7,704	8,861	8,867	8,259	-	-	-	-	2,193	2,765	2,789	2,565	2,338	2,481	2,466	2,004	1,961	2,108	1,772	1,642	1,397	1,780	1,555	1,526	1,303	1,208	2,215	1,843	255	1,409	1,447	1,290	-	-
Other comprehensive income:
Unrealized gain on available for sale securities
3,014	-412	740	2,844	1,084	2,011	-846	-837	-1,876	-632	242	-241	322	12	188	-147	-337	87	-7	-241	23	16	66	74	143	-25	-12	-194	-1	21	-107	65	29	-64	-30	101	96	-42	-161
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	-2	257	-	-	-	-	-	-	-	520	-	-	-	-	-	0	0	0	142	-	287	-	-	-	-	-	-	-	-
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-
Non-credit component of other-than-temporary impairment on held-to-maturity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-4,278	0	0	0	-14	-21	0	0	0	-97	0	-475	-205	4	-107	70	-41	-55	-	-
Accretion of amounts previously recorded upon transfer to held to maturity from available for sale
-4	-3	-4	-3	-3	-6	-4	-2	-4	-22	3	3	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	-2	257	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	142	0
Non-credit component of other-than-temporary impairment on held-to-maturity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20	33
Accretion of amounts previously recorded upon transfer to held-to-maturity from available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	4	-3	-	-3	-3	-22	-	17	22	20	-	12	12	8	28	17	28	32	-39	27	6	11	-36	-31
Net unrealized gain
3,018	-409	744	2,847	1,087	2,017	-842	-835	-1,872	-628	247	-495	325	14	191	-143	-334	91	-4	3,520	45	-2	49	66	144	-32	-24	-206	-54	6	64	242	-7	82	-127	136	140	-	-
Tax effect
634	-86	157	597	229	422	-177	-175	-394	-214	84	-168	110	5	64	-48	-114	31	-1	1,196	16	-1	17	22	49	-11	-8	-70	-18	3	21	82	-2	29	-44	46	48	-	-
Other comprehensive income
2,384	-323	587	2,250	858	1,595	-665	-660	-1,478	-414	163	-327	215	9	127	-95	-220	60	-3	2,324	29	-1	32	44	95	-21	-16	-136	-36	3	43	160	-5	53	-83	90	92	-	-
Comprehensive income
2,411	8,641	9,451	11,569	6,878	9,299	8,196	8,207	6,781	-1,575	4,537	-3,169	2,269	2,202	2,892	2,694	2,345	2,398	2,478	4,790	2,033	1,960	2,140	1,816	1,737	1,376	1,764	1,419	1,490	1,306	1,251	2,375	1,838	308	1,326	1,537	1,382	-	1,133
Earnings per share, basic (in dollars per share)
0.00	0.37	0.37	0.39	0.25	0.32	0.37	0.37	0.34	-0.01	0.18	-0.21	0.17	0.17	0.23	0.23	0.21	-	0.20	0.20	-	-	0.18	0.15	-	-	0.15	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share, diluted (in dollars per share)
0.00	0.37	0.36	0.38	0.25	0.32	0.36	0.37	0.34	0.00	0.18	-0.21	0.16	0.17	0.22	0.23	0.21	-	0.20	0.20	-	-	0.17	0.15	-	-	0.15	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized gain (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-116	163
Tax effect
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-38	55
Other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-78	108
Comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,027	-
Earnings per share, basic and diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.16	-	-	-	0.14	-	-	0.13	0.13	0.12	0.10	0.19	0.16	0.03	0.12	0.12	0.11	0.10	0.09