MCLEAN, Va. (AP) _ Southern National Bancorp of Virginia Inc. (SONA) on Tuesday reported first-quarter net income of $27,000.
The McLean, Virginia-based bank said it had break-even earnings on a per-share basis. Earnings, adjusted for restructuring costs, came to 18 cents per share.
The holding company for Sonabank posted revenue of $31.3 million in the period. Its revenue net of interest expense was $23.3 million, falling short of Street forecasts.
Southern National Bancorp shares have declined 38% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.07, a fall of 35% in the last 12 months.