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Southern National Bancorp of Virginia Q3 net income $8.9 million

Staff Writer | October 26, 2018
Southern National Bancorp of Virginia and its wholly-owned subsidiary Sonabank announced net income of $8.9 million and $26.0 million for the three and nine months ended September 30, 2018, respectively.
Sonabank
Southern National Bancorp of Virginia   Earnings per share was $0.37 basic and $0.36 diluted
That compares to net income of $4.4 million and $3.6 million for the three and nine months ended September 30, 2017, respectively.

Earnings per share for the three and nine months ended September 30, 2018 was $0.37 basic and $0.36 diluted, and $1.08 basic and $1.07 diluted, respectively, compared to $0.18 basic and diluted, and $0.22 basic and $0.21 diluted per share for the same periods in 2017, respectively.

Third quarter of 2018 net income was benefited by $736 thousand of other income from the recovery of loans previously charged off by Eastern Virginia Bankshares, Inc. ("EVBS").

The Board of Directors declared a dividend of $0.08 per share payable on November 23, 2018 to shareholders of record on November 12, 2018. This is Southern National's twenty-eighth consecutive quarterly dividend.


 

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