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Dec 31, 2019
Primis Q4 2019 Earnings Report
Net income increased driven by operational improvements.
Key Takeaways
Southern National Bancorp of Virginia, Inc. reported a net income of $9.0 million for the quarter ended December 31, 2019, compared to $7.7 million for the quarter ended December 31, 2018. Earnings per share for the three months ended December 31, 2019 were $0.37 basic and diluted compared to $0.32 basic and diluted for the three months ended December 31, 2018.
Net income for the quarter ended December 31, 2019, increased to $9.0 million compared to $7.7 million for the same period in 2018.
Earnings per share for the three months ended December 31, 2019 were $0.37 basic and diluted, up from $0.32 in 2018.
Net loan growth in the fourth quarter of 2019 was $44.7 million on $94.3 million of new loan originations.
Noninterest income benefited from $477 thousand of recoveries of legacy investment securities and loans charged off by EVBS premerger.
Forward Guidance
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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