Sonabank


Overview / Commentary
804-443-6353
307 Church Lane
Tappahannock, VA 22560

Sonabank is headquartered in Tappahannock and is the 11th largest bank in the state of Virginia. It is also the 337th largest bank in the nation. It was established in 2005 and as of June of 2020, it had grown to 348 employees at 45 locations. Sonabank has an A+ health rating.

Related Posts

Kasasa Rate Drop On Checking To 1.75% - 4/8/2020

it used to be 2.25% upto 25k, but no notice and drop to 1.75% sigh https://www.sonabank.com/personal/personal-checking/free-checking-kasasa-cash.html

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Reviews (1)

Sonabank Problems

Posted by: |

This bank is probably ripe for an audit from state and federal regulators, the FBI and the IRS. The problems I have had with them are serious and their arrogance is alarming. I am of the opinion that they do not play by the rules and I hope that some agency notices - sooner rather than later.



Health
A+

Health Grade Components

Overall
FDIC Certificate #57968
Year Established2005
Employees348
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.45%
Return on Equity - YTD3%
Annual Interest Income$57.2MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$3.07B$2.73B
LoansQ2 2020vs Q2 2019$2.49B$2.16B
DepositsQ2 2020vs Q2 2019$2.16B$2.16B
Equity CapitalQ2 2020vs Q2 2019$429.8MM$408.0MM
Loan Loss AllowanceQ2 2020vs Q2 2019$23.6MM$11.6MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$11.4MM$1.2MM
Real Estate OwnedQ2 2020vs Q2 2019$6.0MM$5.0MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Sonabank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*-$50kKasasa Saver
OTHER TIERS: 0.25% $50k+
0.10%--Statement Savings
0.10%--Business Statement Savings

Sonabank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$250k*-Business Money Market
OTHER TIERS: 0.15% Up to $25k | 0.25% $25k - $100k | 0.35% $100k - $250k

Sonabank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%*-$25kKasasa Cash
OTHER TIERS: 0.25% $25k+
0.50%*$75k*-Community Believers Non-Profit Checking
OTHER TIERS: 0.20% Up to $10k | 0.40% $10k - $75k
0.40%*$100k*-Sona Gold Checking
OTHER TIERS: 0.25% Up to $25k | 0.35% $25k - $100k
Locations

Availability



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