IN THIS ISSUE 2018 MIDDLEBURG RACES BUY YOUR FIRST HOME WITH CONFIDENCE NEW FACES AT SONABANK GET MORE FOR YOUR MONEY
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K AlferÍo Glen Allen Cultural Arts Center A Sonabank Community Believer
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Sonabank Quarterly Earnings Update Quarter Ended March 31, 2018 Net Income of $8.3 million Earnings Per Share $0.34 Sonabank’s results for the quarter ended March 31, 2018, showed a strong net interest income of $22.5 million, compared to $9.9 million of net interest income for the first quarter of 2017, which was prior to the Eastern Virginia Bankshares merger. Shareholders received a dividend of $0.08 per share payable on May 25, 2018. This is Sonabank’s 26th consecutive quarterly dividend.
Year Ended December 31, 2017 Net Income of $2.4 million Earnings Per Share $0.13
The Simple Way to Stay Connected – Follow Us on Social Media! In today’s fast-paced world, it can be hard to keep up with everything. Stay up to speed with what’s going on at Sonabank when you follow us on social media! /Sonabank /company/sonabank /sonabank – Search for “Sonabank”
SUMMER 2018
THE big believer
2018 Middleburg Races Sonabank was a proud sponsor of this year’s Middleburg Spring Races! Each year this historic event, first organized in 1911, brings the community together to enjoy and celebrate this honored tradition.
THE BIG BELIEVER BULLETIN is the quarterly newsletter of Sonabank. 1.888.464.BANK (2265) sonabank.com
Committed to Helping You Help Others At Sonabank, we believe in empowering non-profit organizations. We believe in the hard work they do for our communities – so we created Community Believers, a program that offers banking solutions, marketing services and more to make their work easier. Non-profits operate differently than other organizations – and that means their banking needs are different, too. We’ve created a full line of financial products specifically designed to meet these needs: Community Believers Checking – Free checking that pays non-profits interest and provides flexibility to make every dollar count Community Believers Loan Program – Driven by a lending philosophy that understands how non-profits work Kasasa@Work in the Community – An easy, free program to add to your benefits package that provides free checking plus rewards for your employees Community Believers Merchant Services – Acquiring donations has never been easier, with equipment and services to save you money. Plus, Community Believers members enjoy FREE opportunities to promote their organization, network with other non-profit professionals, recruit volunteers and more. The Community Believers resource website at communitybelievers.com provides: Members-only directory for non-profits to market themselves Places to post volunteer opportunities and event details Client testimonials and profile highlights Ability to cross-promote volunteer opportunities with bank employees Use of conference rooms for meetings (during bank hours) Promotional tabling opportunities with Sonabank sponsorships Become a part of something greater – and enjoy all the benefits of Community Believers. Learn more and register your non-profit organization today at communitybelievers.com.
Meet Our Customers K AlferÍo, Glen Allen Cultural Arts Center The Cultural Arts Center at Glen Allen is a true gem of our community, offering a wealth of inspiring and enriching performances, exhibits and classes. Within the 50,000-square-foot space, the Center boasts a 350-seat theater, ballroom, four art galleries, six studio spaces and much, much more. “There’s just a lot going on,” says K Alferío, President of the Center. “Our theater is actually used about 50 weeks of the year! We are home to the Henrico Theater Company, the Latin Ballet of Virginia performs here, and many different musical and art series are shown here. Plus, we offer an abundance of classes – from photography and painting to Lego art and robotics.” The Center, which opened in 1999, also rents its space out for private events and meetings. As a non-profit organization, these rentals along with community support and smart business management allow the Center to continue its role as a vital community resource for creativity and education. Sonabank has proven to be a supportive partner of its financial and business management needs. “Sonabank was interested in working with the Center as a non-profit,” says K. “The Community Believers program has proven to be very helpful. We’re not big business, so there are some things we need others’ expertise with, and that is something Sonabank has been really willing to do. “They took the time to ask what we needed as a non-profit and really listened. So far, I’ve really enjoyed some of the workshops and learning experiences they provide,” continues K. “We have a fairly small staff so I don’t have an HR person, and the Sonabank HR representative was at one of our meetings and told us to give her a call whenever we needed assistance and she would lend us her expertise. It’s incredible.” “Community Believers is a great thing to be involved with. I’m looking forward to us doing even more.”
Buy Your First Home with Confidence Owning a home is an exciting step in your financial journey. And with so many options and programs available, you’ll want the right team of professionals by your side during the process. Sonabank customers have access to friendly, licensed home lending experts through our partnership with Southern Trust Mortgage. First-time homebuyers have access to the FNMA HomeReady® Program, designed specifically to help you get into your first home. A HomeReady loan features: Loan amounts up to $450,000 Job Loss Protection Coverage up to two years from closing – at no cost to you Only 3% down Competitive fixed rate 30-year term Let us help you make the move to homeownership. To learn more and discuss your options, visit a Sonabank branch today, visit sonabank.com/mortgage or call 1.800.356.3936.
Southern Trust Mortgage NMLS #2921 (www.nmlsconsumeraccess.org). Southern Trust Mortgage, LLC lending in the following states: DC (Lic. #MLB-2921), DE, FL, GA (Lic. #16579), MD, NC, NJ, OH, PA, SC (Lic. #LB-2921), TN, WV, VA. Southern Trust Mortgage is proud to be an Equal Housing Lender and Equal Opportunity Lender. Sonabank is an affiliate of Southern Trust Mortgage. Offer subject to credit approval.
as rates rise, let us watch your money. Open a Premium Yield Money Market Account today! Unlike a traditional, uninsured money market fund account with a limited- time introductory rate, our Premium Yield Money Market Account* is FDIC insured and tied to the national iMoneyNet index, the seven-day average of all U.S. money market funds – and our rate pays .50 basis points over that! Premium Yield Money Market Account features: New deposit of $50,000 or more All accounts are FDIC insured Access your money at any time Unlimited deposits and ATM withdrawals Up to six additional transactions per statement cycle Give yourself a bright future – start saving with Sonabank today! To learn more, visit sonabank.com or call 1.888.464.BANK (2265).
Meet Our New employees! Sonabank is excited to introduce to you our new leaders, Jeffrey Culver, President and Chief Operations Officer, and Joe Pennington, Chief Financial Officer. Jeffrey Culver, President and COO Mr. Culver has more than 25 years of experience in the banking industry and most recently served as Executive Vice President and Chief Operating Officer of Access National Bank. He holds a Bachelor of Arts degree from Ursinus College and a Master of Arts degree in economics from American University. “I am thrilled to be joining the Southern National team and excited to help it continue its mission of not just building a bigger bank – but a better one for its customers, employees, shareholders and communities,” says Mr. Culver. Joe Pennington, CFO Mr. Pennington comes to Sonabank with more than 20 years’ financial experience in both the banking industry and accounting. He most recently served as Vice President and Director of Financial Reporting for Sonabank, and prior to that was CFO, Treasurer and Secretary of New Peoples Bankshares, Inc. Mr. Pennington holds a Bachelor of Science degree in accounting from West Virginia University and is a certified public accountant. “I’m committed to helping Southern National build on its growth and look forward to putting my background and skills to work to help the company achieve greater results for our employees and shareholders,” says Mr. Pennington.
New accounts only. APY=Annual Percentage Yield. The advertised APY is effective 03/13/18 and subject to change thereafter. Transfers from existing accounts do not qualify. The minimum to open the Premium Yield Money Market Account is $50,000. Fees may reduce earnings. Offer is subject to change without notice and may be withdrawn at any time. Certain types of withdrawals are limited by law. Withdrawals over the limits are excess activity and incur a $10 excess transaction fee.