MIDDLEBURG, Va., March 3, 2011 (GLOBE NEWSWIRE) -- Sonabank will open its first branch in Middleburg at 10 West Washington St, Middleburg, VA. Approvals from the Federal Reserve of Richmond and the State Corporation Commission of Virginia have been received for Sonabank. The lease has been signed and construction will begin shortly. The Middleburg branch is expected to open mid April or the beginning of May. This is to be Sonabank's 14th branch, and its third in Loudoun County, along with its existing branches located in Leesburg and South Riding. Sonabank believes that the Middleburg and Loudoun County markets present extraordinary opportunities for a locally owned community bank.
Georgia Derrico, CEO of Sonabank, commented: "It's going to be so great to again have a branch in Middleburg with all of our old business friends!"
Sonabank opened for business in April 2005 with a branch in Charlottesville. In December 2005 Sonabank purchased a branch in Clifton Forge, Virginia. In December 2006 Sonabank acquired 1st Service Bank of McLean, Virginia which had branches in McLean, Reston and Fairfax. In April 2007 it opened a branch in Warrenton, Virginia adjacent to its administrative center. Sonabank purchased the Leesburg branch and drive through in February 2008. In June 2009 it purchased the Old Town Warrenton branch. December 2009 saw the purchase of Greater Atlantic Bank, which brought the additions of Virginia branches in New Market, South Riding, and Front Royal, and a branch in Rockville, Maryland.
Sonabank specializes in middle market and small business lending and retail banking except for residential mortgages and Home Equity Lines of Credit. The Bank will entertain all types of middle market lending, including SBA, commercial real estate and construction lending. Sonabank also prides itself on its flexible and cutting edge deposit products, which have very competitive rates. Sonabank is a middle market business lender and understands the problems of small and middle market businesses, we believe better than any other bank. Ask our customers!
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that relate to future events or the future performance of Southern National Bancorp of Virginia, Inc. Forward-looking statements are not guarantees of performance or results. These forward-looking statements are based on the current beliefs and expectations of the respective management of Southern National Bancorp and Sonabank and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond their respective control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed or implied in these forward-looking statements because of numerous possible uncertainties. Words like "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," "will," and similar expressions, should be considered as identifying forward-looking statements, although other phrasing may be used. Such forward-looking statements involve risks and uncertainties and may not be realized due to a variety of factors. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q) filed by Southern National Bancorp. You should consider such factors and not place undue reliance on such forward-looking statements. No obligation is undertaken by Southern National Bancorp to update such forward-looking statements to reflect events or circumstances occurring after the issuance of this press release.
CONTACT: Devon Porter, Senior Vice President Phone: 703-929-7392 Southern National Bancorp, NASDAQ Symbol SONA Website: www.sonabank.com