SEC Filing Summary: Southern National Bancorp of Virginia, Inc.
Business Context and Reporting Period
This Form 8-K was filed by Southern National Bancorp of Virginia, Inc. on February 8, 2008, reporting an event that occurred on February 6, 2008. The registrant is a Virginia-based bank holding company.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes.
Material Changes
On February 6, 2008, Michael A. Gaffney resigned as a Class II Director of the Company and as a director of its subsidiary, Sonabank, N.A., effective immediately. Mr. Gaffney was a member of the Audit Committee. The Company stated that Mr. Gaffney did not advise of any disagreement regarding operations, policies, or practices.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the director departure.
Key Facts for Investor Verification
- Michael A. Gaffney's resignation from the Board and Audit Committee was effective immediately.
- The Company confirmed no disagreement exists between the departing director and management.
- Investors should verify if a replacement director has been appointed to fill the Class II vacancy.