History - Sonabank

Volume Six
Issue One
1st Quarter 2014
In this
Issue:
Page 1
Sonabank Acquires
Prince George’s
Federal Savings
Bank
Page 2
Prince George’s
FSB
Page 3
Sonabank Holiday
Party
Page 4
Earnings
Page 4
Locations
“We are extremely
pleased that Bob
Clagett, the grandson
of the founder of the
Prince George’s FSB
and current
Chairman of the
Board, has agreed to
serve on the Board of
Southern National
after the merger.”
-Georgia Derrico
CEO/Chairman
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UPPER MARLBORO, MD
January 8, 2014
On
January
8th,
Southern National Bancorp of
Virginia, Inc. (NASDAQ: SONA) (“Southern National”),
the holding company of
Sonabank,
and Prince
George’s Federal Savings
Bank
(“Prince
George’s
FSB”) jointly announced the
signing of a definitive merger
agreement,
under
which
Southern National has agreed
to acquire Prince George’s
FSB in a cash and stock transaction with a total current value of approximately $11.5
million or $12.75 per share,
subject to the terms of the definitive merger agreement.
Upon completion of the trans-
action, the combined company
will have approximately $805
million in total assets, $700
million in total deposits, and
$600 million in total loans.
The transaction will add four
new banking locations for
Sonabank within the Washington, D.C. metropolitan statistical area, two in Prince
George’s County, Maryland
and two in Calvert County,
Maryland.
This will give
Sonabank a total of 24 locations, 20 of which, with over
$500 million in deposits, will
be in the Washington, D.C.
metropolitan statistical area.
The merger agreement has been
approved by the Board of Directors of each company. Closing of the transaction, which is
Headquarters building in
Upper Marlboro, MD
expected to occur late in the
second quarter of 2014, is
subject to customary conditions, including regulatory
approval and approval by the
shareholders
of
Prince
George’s FSB. The above is
an excerpt from our press release on 01/08/14. For the
full text please visit our website - www.sonabank.com
History
Prince George’s FSB
was founded over 80 years
ago and is headquartered in
Upper Marlboro, which is the
county
seat
of
Prince
George’s County, Maryland.
In 1931 a group of local businessmen founded Prince
George’s County Suburban
Home Building Association,
Inc. The Association’s first
president was T. Van Clagett,
followed by T. Van Clagett
Jr., Samuel A. Wyvill, Robert
Y. Clagett, and the current
president Hal C. Rich III.
Sonabank New sletter
L to R: Grandson of the founder of the Prince George’s FSB
and current Chairman of the Board Robert Clagett & Prince
George’s FSB President Hal C. Rich III
866.336.4600
www.sonabank.co m
Prince George’s County
The merger with Prince
George’s Federal Savings Bank
gives Sonabank a serious financial
presence in Southern Maryland.
Prince George’s County will definitely be a county on the move over
the next coming years, with promising economic plans including the
expansion at National Harbor
bringing a brand new MGM Resorts casino and the Tanger Outlets
Sonabank’s Devon Porter & Cody
Sheflett with Prince George’s FSB
President Hal Rich III & Operations
Officer Kim Freeland
mall. A new regional hospital, the
Prince George’s County Regional
Medical Center in Largo as well as
a contending location for the new
FBI headquarters could bring many
opportunities of employment to the
County. The final decision for the
FBI headquarters location is set to
be announced this Spring. Another
major development involves the
construction of the Westphalia
Town Center including over 10,000
homes, offices, and shops. Expanding Sonabank’s presence into this
area will provide the opportunity
for many new prospects. Prince
George's Federal Savings Bank has
had a dynamic influence on the
economy of Southern Maryland
and will strive to continue this in
future years in partnering with
Sonabank.
Upper Marlboro Branch
Staff L to R:
Lashayia Kent, Sheniece Widman,
Katrina Jones, Leslie Stanley
Huntingtown Branch Staff
L to R: Accounts
Representative Sharnika
Young & Branch Manager
Penny Willis
Administrative Staff L to R:
Deborah Green, Lynn Payne, Ruth
King, Autumn Garner
Sonabank’s Devon Porter & the
Prince George’s FSB mascot
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Sonabank New sletter
Dunkirk Accounts Representative
Erin Hooper
Board Meeting at Prince George’s FSB
Headquarters in Upper Marlboro
Brandywine Branch Staff
L to R: Accounts
Representative
Latonya Bryant & Branch
Manager Kim Sole
866.336.4600
www.sonabank.co m
SONABANK HOLIDAY PARTY 2013
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Sonabank New sletter
866.336.4600
www.sonabank.co m
MCLEAN, VA
January 23, 2014
Southern National Bancorp of
Virginia, Inc. ("Southern National")
(Nasdaq:SONA) announced today that
net income for the year ended
December 31, 2013 was $6.3 million
compared to $6.6 million for the year
ended December 31, 2012. In addition,
Southern National declared a regular
quarterly dividend of $.07 per share
payable on February 21, 2014 to
shareholders of record on February 10,
2014. Net income for the year ended
December 31, 2013 was $6.3 million,
down slightly from $6.6 million for the
prior year.
Southern National's efficiency
ratio was 60.78% for the year ended
December 31, 2013, compared to
56.25% for the year ended December
31, 2012. Fourth quarter 2013 earn-
ings were $1.4 million up from $1.3
million in the fourth quarter of 2012.
Total assets of Southern National
Bancorp of Virginia were $716.2
million as of December 31, 2013,
down slightly from $723.8 million as
of December 31, 2012. The above is
an excerpt from our press release on
01/23/14. For complete details please
visit our website -www.sonabank.com.
Locations
BETHESDA BRANCH
7700 Wisconsin Ave.
Bethesda, MD 20814
301.215.6322
CLIFTON FORGE
BRANCH
511 Main Street
Clifton Forge, VA 24422
540.862.4251
FAIRFAX BRANCH
10855 Fairfax Boulevard
Fairfax, VA 22030
703.273.0050
HAYMARKET
BRANCH
6719 Lea Berry Way
Haymarket, VA 20169
571.248.6459
LEESBURG BRANCH
1 East Market Street
Leesburg, VA 20176
703.777.2424
LEESBURG DRIVE
THRU
10 West Market Street
Leesburg, VA 20176
703.443.8770
FOREST LAKES BRANCH
1770 Timberwood Blvd.,
Suite 100
Charlottesville, VA 22911
434.973.5242
MIDDLEBURG BRANCH
10 West Washington Street
PO Box 423
*Prince George’s FSB locations indicated in green
Middleburg, VA 20118
540.687.3893
OLD TOWN WARRENTON SHADY GROVE BRANCH
FREDERICK BRANCH
9707 Medical Center Drive
BRANCH
37 North Market Street
MIDLOTHIAN BRANCH 11A Main Street
Suite 150
Frederick, MD 21701
13804 Hull Street Road
Warrenton, VA 20186
Rockville, MD 20850
301.662.5086
Midlothian, VA 23112
540.428.3435
301.838.2307
804.521.6585
FRONT ROYAL BRANCH
RESTON BRANCH
SOUTH RIDING BRANCH
1 South Royal Avenue
MCLEAN BRANCH &
11527 Sunrise Valley Drive
43086 Peacock Market Plaza
Front Royal, VA 22630
HEADQUARTERS
Reston, VA 20191
South Riding, VA 20152
540.631.1185
6830 Old Dominion Drive
703.860.8088
703.327.1700
McLean, VA 22101
GERMANTOWN BRANCH 703.893.7400
ROCKVILLE BRANCH
WARRENTON BRANCH
12800 Middlebrook Road
11200 Rockville Pike
& LOAN PRODUCTION
Germantown, MD 20874
NEW MARKET BRANCH Suite 105
OFFICE
301.601.4452
9484 Congress Street
Rockville, MD 20852
550 Broadview Ave., Suite LL
New Market, VA 22844
301.881.1900
Warrenton, VA 20186
540.740.3898
540.347.4521
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Sonabank New sletter
866.336.4600
www.sonabank.co m