Business Context and Reporting Period
This Form 8-K is a current report filed by Southern National Bancorp of Virginia, Inc. (trading symbol: SONA) on April 8, 2020. The report discloses a corporate governance event regarding the departure of a director. Note: The request metadata references "Primis Financial Corp.," but the filing text explicitly identifies the registrant as Southern National Bancorp of Virginia, Inc.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a disclosure of personnel changes and contains no financial performance data.
Material Changes
The material change reported is the resignation of Mr. Daniel H. Burch from the Boards of Directors of Southern National Bancorp of Virginia, Inc. and Sonabank. His resignation is effective as of the close of business on April 10, 2020.
Management Commentary and Risks
- Reason for Departure: Mr. Burch cited "personal reasons" for his resignation.
- Disagreement Status: The Company explicitly states that the resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
- Outlook: No forward-looking guidance or financial outlook is provided in this filing.
Key Facts for Investor Verification
- Verify the effective date of the director resignation (April 10, 2020).
- Confirm whether a replacement director has been appointed or if the board is currently operating with a vacancy.
- Review subsequent filings to ensure no undisclosed disagreements or operational impacts related to this departure.