SEC Filing Summary: Southern National Bancorp of Virginia, Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed on October 4, 2011, covering events occurring on October 3, 2011. The registrant, Southern National Bancorp of Virginia, Inc., is the holding company for Sonabank. The filing reports the completion of an asset acquisition.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, or debt levels for the reporting period. The only specific financial metric disclosed relates to the transaction:
- Acquisition Value: Approximately $46 million in deposits and certain assets.
Material Changes
On October 3, 2011, Sonabank completed the purchase of the Midlothian branch office of The Bank of Hampton Roads. This transaction involves the acquisition of all deposits (approximately $46 million) and certain assets associated with that branch.
Guidance, Outlook, and Risks
The filing contains no management guidance, forward-looking outlook, or discussion of risks and contingencies beyond the completion of the stated acquisition. No unusual items were reported.
Investor Verification Checklist
- Verify the exact composition of "certain assets" acquired alongside the $46 million in deposits.
- Review the press release filed as Exhibit 99.1 for details on integration plans or immediate financial impact.
- Confirm the regulatory approval status of the acquisition if not explicitly detailed in the press release.