Southern National Bancorp of Virginia Inc SONA Income Statement

Southern national bancorp of virginia inc (SONA)

Income statement / TTM

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
110,948	112,181	113,351	112,963	112,282	110,213	107,499	106,273	91,908	77,764	63,377	48,443	46,352	45,348	44,274	42,581	41,310	40,104	39,194	38,276	36,406	34,611	33,030	32,017	31,682	32,269	33,135	33,975	34,978	35,246	34,410	33,567	32,358	31,278	30,833	30,497	0	0	0
Interest and dividends on taxable securities
5,458	5,639	5,707	5,770	5,695	5,752	5,777	5,803	5,021	4,077	3,180	2,297	2,476	2,619	2,682	2,688	2,422	2,395	2,377	2,341	2,380	2,239	2,128	2,081	2,018	2,035	2,031	2,036	0	-	0	0	-	1,914	2,125	2,352	0	0	0
Interest and dividends on tax exempt securities
546	585	610	623	631	634	636	637	567	492	417	342	336	336	361	377	394	411	402	403	398	389	367	337	291	237	0	0	0	-	-	-	0	-	-	-	-	-	-
Interest and dividends on other earning assets
1,748	2,117	2,634	2,513	2,537	2,256	1,774	1,739	1,536	1,231	991	695	655	644	652	852	813	791	882	671	701	852	723	676	743	575	555	553	410	359	309	273	240	231	216	198	0	0	0
Interest on federal funds sold
-	-	-	-	-	52	38	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total interest and dividend income
118,702	120,524	122,320	121,900	121,190	118,907	115,722	114,479	99,045	83,570	67,969	51,777	49,819	48,947	47,969	46,498	44,939	43,701	42,855	41,691	39,885	38,091	36,248	35,111	34,734	35,116	35,945	36,698	37,510	37,561	36,539	35,627	34,358	33,423	33,174	33,047	0	0	0
Interest expense:
Interest on deposits
29,643	30,602	29,279	26,271	22,427	18,235	15,257	13,655	12,103	10,993	9,992	8,729	8,449	8,101	7,691	7,359	6,906	6,433	5,857	5,047	4,419	3,976	3,740	3,720	3,843	4,047	4,320	4,658	4,939	5,036	5,039	4,952	4,900	4,980	5,568	6,141	0	0	0
Interest on repurchase agreements
83	87	92	96	98	97	82	59	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on junior subordinated debt
578	589	608	600	597	575	545	404	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on senior subordinated notes
2,847	2,847	2,846	2,848	2,848	2,847	2,847	2,846	2,576	2,194	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
2,388	2,799	4,050	5,297	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
-	-	-	-	-	-	-	-	3,401	-	1,332	724	529	514	427	478	522	541	704	721	708	697	670	641	626	621	628	636	708	792	879	986	1,026	1,107	1,200	1,258	0	0	0
Total interest expense
35,539	36,924	36,585	34,592	31,672	27,841	24,489	21,984	18,519	15,653	12,967	10,252	9,325	8,633	8,221	7,940	7,531	7,077	6,561	5,768	5,127	4,673	4,410	4,361	4,469	4,668	4,948	5,294	5,647	5,828	5,918	5,938	5,926	6,087	6,768	7,399	0	0	0
Net interest income
83,163	83,600	85,735	87,308	89,518	91,066	91,233	92,495	80,526	67,917	55,002	41,525	40,494	40,314	39,748	38,558	37,408	36,624	36,294	35,923	34,758	33,418	31,838	30,750	30,265	30,448	30,997	31,404	31,863	31,733	30,621	29,689	28,432	27,336	26,406	25,648	0	0	0
Provision for loan losses
3,600	350	850	1,750	2,800	4,200	5,475	9,675	9,675	8,625	7,700	4,500	4,837	4,912	4,358	3,158	3,271	3,171	3,975	4,100	2,794	3,444	2,944	3,166	3,697	3,615	4,605	5,238	5,838	6,195	7,957	7,677	8,602	8,492	6,165	6,065	0	0	0
Net interest income after provision for loan losses
79,563	83,250	84,885	85,558	86,718	86,866	85,758	82,820	70,851	59,292	47,302	37,025	35,657	35,402	35,390	35,400	34,137	33,453	32,319	31,823	31,964	29,974	28,894	27,584	26,568	26,833	26,392	26,166	26,025	25,538	22,664	22,012	19,830	18,844	20,241	19,583	0	0	0
Noninterest income:
Account maintenance and deposit service fees
7,170	7,159	6,710	6,248	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Account maintenance and deposit service fees
-	-	-	-	-	-	-	-	4,759	-	2,318	1,025	886	896	925	943	954	953	937	914	870	826	792	770	778	793	802	826	829	832	821	817	829	833	846	863	0	0	0
Income from bank-owned life insurance
1,562	1,699	1,820	2,021	2,199	1,983	1,761	1,473	1,073	929	807	677	689	700	696	681	660	636	625	624	627	617	604	592	583	592	593	594	793	797	787	768	1,354	1,336	1,337	1,345	0	0	0
Equity gain from mortgage affiliate
1,404	1,191	479	-192	-559	-894	-93	-104	-183	-345	-722	110	550	1,109	1,571	1,314	1,555	1,459	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity income from mortgage affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of SBA loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	657	1,052	1,052	1,052	395	0	0	0	-	-
Bargain purchase gain on acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-	-	-
Net gain on other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	202	215	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Gain on other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-
Gain on sales of investment securities
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	142	429	416	0	-	0	0	-	-	0	0	-	0	0
Recoveries related to acquired charged-off loans and investment securities
1,130	1,537	1,270	1,792	1,718	2,610	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other-than-temporary impairment losses (OTTI)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41	41	41	16	3	3	483	718	721	937	500	303	329	240	201	0	0	0
Portion of OTTI recognized in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	-4	0	0	0	-	0	0	0	-	-
Portion of OTTI recognized in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net credit related OTTI recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41	41	41	16	3	3	483	718	717	933	496	299	329	240	201	0	0	0
Other
1,078	1,000	497	548	586	541	113	622	431	269	608	73	127	115	129	172	181	206	220	205	214	202	193	169	198	216	226	259	256	254	254	253	216	207	170	256	0	0	0
Total noninterest income
12,344	12,586	11,156	10,820	10,182	10,199	10,585	10,246	8,575	5,429	3,266	2,142	2,252	2,820	3,321	3,110	3,877	3,781	3,629	3,274	2,228	2,364	2,257	2,023	1,758	1,753	1,972	1,837	5,259	5,595	5,701	5,827	3,006	2,442	1,673	1,842	0	0	0
Noninterest expenses:
Salaries and benefits
32,758	26,261	26,370	26,883	26,746	27,706	27,394	28,060	24,159	20,285	16,672	11,625	11,445	11,675	12,082	12,275	12,185	11,860	11,269	11,048	10,639	10,225	9,790	9,457	9,206	9,063	8,885	8,620	8,414	7,993	7,588	7,274	7,009	6,787	6,701	0	0	0	-
Salaries and benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Occupancy expenses
6,340	6,204	6,234	6,926	6,781	6,628	6,437	6,480	5,668	4,809	4,116	3,196	3,137	3,155	3,142	3,166	3,207	3,269	3,334	3,331	3,264	3,165	3,117	3,081	3,075	3,063	3,019	3,004	2,956	2,778	2,614	2,434	2,283	2,240	2,186	2,140	0	0	0
Furniture and equipment expenses
2,628	2,719	2,628	2,734	2,708	2,795	2,956	3,243	2,778	2,228	1,656	1,032	1,033	975	907	818	794	815	845	846	810	787	770	772	755	724	697	649	621	621	597	588	576	556	549	560	0	0	0
Amortization of core deposit intangible
1,396	1,418	1,439	1,447	1,446	1,445	1,444	1,444	1,158	845	535	219	206	219	233	255	258	261	265	260	240	220	249	311	389	467	568	681	786	893	923	917	919	919	926	932	0	0	0
Virginia franchise tax expense
2,258	2,251	2,181	2,109	2,038	1,839	1,711	1,584	1,222	969	702	434	401	387	378	370	361	352	377	402	427	455	456	458	460	471	504	534	564	582	608	634	660	686	697	710	0	0	0
FDIC assessment
-	-	-	-	-	-	-	-	1,000	-	455	434	534	543	641	650	638	664	670	645	616	569	548	617	714	823	824	752	670	565	541	520	497	522	537	624	0	0	0
Data processing expense
2,576	2,381	2,185	2,038	1,931	1,885	1,687	1,652	1,398	1,140	1,069	813	780	744	703	683	676	668	661	643	607	569	535	520	540	562	593	637	645	634	620	571	541	546	539	572	0	0	0
Telephone and communication expense
1,608	1,615	1,733	1,721	1,816	2,035	2,070	2,172	1,854	1,422	1,071	705	720	745	768	764	767	786	799	800	779	751	733	701	684	684	692	709	679	603	521	439	406	392	389	389	0	0	0
Amortization of FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	727	741	768	793	885	803	717	630	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	520	649	795	651	468	213	-97	-99	0	0	0	-	-
Net (gain) loss on other real estate owned
-35	38	-261	-162	-158	-360	-368	-361	-667	-520	-314	-411	-107	-174	-4	-110	-91	-291	-360	-69	-306	433	41	545	663	188	324	-350	-2,489	-2,632	-2,526	-2,550	-457	-297	-582	-563	0	0	0
Professional fees
3,712	3,612	3,517	3,683	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger expenses
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	487	0	0	0	-	-	-	-	-	0	0	-	-	0	0	-	-	-
Change in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other operating expenses
6,843	10,169	9,927	9,742	10,405	7,423	7,360	7,595	6,903	5,707	4,317	3,114	2,952	2,976	3,542	3,604	3,796	3,682	3,306	3,197	3,206	3,076	3,085	3,197	2,975	3,105	3,053	2,928	2,910	3,137	2,955	2,992	2,810	2,347	2,298	2,124	0	0	0
Total noninterest expenses
60,154	56,592	56,205	56,706	56,431	53,760	54,170	55,491	56,715	49,149	41,157	32,079	22,835	22,815	23,285	23,498	23,490	23,278	22,629	22,347	22,403	21,101	20,735	19,707	18,860	19,292	19,230	19,723	22,088	21,449	20,269	19,429	15,901	15,193	14,543	14,656	0	0	0
Income before income taxes
31,753	39,244	39,836	39,672	40,469	43,305	42,173	37,575	22,711	15,572	9,411	7,088	15,074	15,407	15,426	15,012	14,524	13,956	13,319	12,750	11,789	11,237	10,416	9,900	9,466	9,294	9,134	8,280	9,196	9,684	8,096	8,410	6,935	6,093	7,371	0	0	0	-
Income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Income tax expense
4,579	6,077	7,929	7,768	9,017	9,614	17,347	17,236	14,081	13,147	3,632	2,918	5,273	5,095	4,969	4,839	4,674	4,667	4,407	4,211	3,944	3,754	3,497	3,309	3,092	3,036	2,970	2,688	2,944	3,115	2,575	2,688	1,981	1,692	2,120	1,902	0	0	0
Net income
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net income
27,174	33,167	31,907	31,904	31,452	33,691	0	0	0	-	-	-	-	10,312	10,457	10,173	9,850	9,289	8,912	8,539	7,845	7,483	6,919	6,591	6,374	6,258	6,164	5,592	6,252	6,569	5,521	5,722	4,954	4,401	0	0	0	-	-
Other comprehensive income:
Unrealized gain on available for sale securities
6,186	4,256	6,679	5,093	1,412	-1,548	-4,191	-3,103	-2,507	-309	335	281	375	-284	-209	-404	-498	-138	-209	-136	179	299	258	180	-88	-232	-186	-281	-22	8	-77	0	36	103	125	-6	0	0	0
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	142	429	0	0	-	0	-	-	-	-	-	-	-	-
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-
Non-credit component of other-than-temporary impairment on held-to-maturity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,278	-4,278	-4,278	-4,278	-14	-35	-35	-35	-21	-97	-97	-572	-777	-676	-783	-238	-74	-133	0	0	0	-	-
Accretion of amounts previously recorded upon transfer to held to maturity from available for sale
-14	-13	-16	-16	-15	-16	-32	-25	-20	-13	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized amount on securities sold, net
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Non-credit component of other-than-temporary impairment on held-to-maturity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Accretion of amounts previously recorded upon transfer to held-to-maturity from available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	60	65	81	105	38	48	26	5	8	-50	0	0	0
Net unrealized gain
6,200	4,269	6,695	5,109	1,427	-1,532	-4,177	-3,088	-2,748	-551	91	35	387	-272	-195	-390	3,273	3,652	3,559	3,612	158	257	227	154	-118	-316	-278	-190	258	305	381	190	84	231	0	0	0	-	-
Tax effect
1,302	897	1,405	1,071	299	-324	-960	-699	-692	-188	31	11	131	-93	-67	-132	1,112	1,242	1,210	1,228	54	87	77	52	-40	-107	-93	-64	88	104	130	65	29	79	0	0	0	-	-
Other comprehensive income
4,898	3,372	5,290	4,038	1,128	-1,208	-3,217	-2,389	-2,056	-363	60	24	256	-179	-128	-258	2,161	2,410	2,349	2,384	104	170	150	102	-78	-209	-185	-126	170	201	251	125	55	152	0	0	0	-	-
Comprehensive income
32,072	36,539	37,197	35,942	32,580	32,483	21,609	17,950	6,574	2,062	5,839	4,194	10,057	10,133	10,329	9,915	12,011	11,699	11,261	10,923	7,949	7,653	7,069	6,693	6,296	6,049	5,979	5,466	6,422	6,770	5,772	5,847	5,009	4,553	0	0	0	-	0
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)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Tax effect
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
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