Sonabank

Overview / Commentary

www.sonabank.com

804-443-6353

307 Church Lane
Tappahannock, VA 22560

Sonabank is headquartered in Tappahannock and is the 11^th largest bank in the state of Virginia. It is also the 337^th 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.

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

View all posts from:

2020
2018
2008
Earlier

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

8/22 - Kasasa Checking Amt Increase From 10K To 25K

12/30 - 3.75% 7-Month CD & 3.85% 13-Month CD at Greater Atlantic Bank in MD & VA

6/2/07 - 5.64% 6-Month CD at a Virginia Bank (Sonabank)

Reviews (1)

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Sonabank Problems

Posted by: CRollins | Jul 12, 2016

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.

Comment

Health

A+

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	57968
Year Established	2005
Employees	348
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.45%
Return on Equity - YTD	3%
Annual Interest Income	$57.2MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$3.07B$2.73B
Loans	Q2 2020vs Q2 2019	$2.49B$2.16B
Deposits	Q2 2020vs Q2 2019	$2.16B$2.16B
Equity Capital	Q2 2020vs Q2 2019	$429.8MM$408.0MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$23.6MM$11.6MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$11.4MM$1.2MM
Real Estate Owned	Q2 2020vs Q2 2019	$6.0MM$5.0MM

Rates

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Savings
Money Market
Checking

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Always verify rates and promotions with the bank or credit union. We are not Sonabank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Sonabank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%^*	-	$50k	Kasasa Saver
OTHER TIERS: 0.25% → $50k+
0.10%	-	-	Statement Savings
0.10%	-	-	Business Statement Savings

Sonabank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW 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

APY	MIN	MAX	ACCOUNT NAME
1.75%^*	-	$25k	Kasasa 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

Washington Area

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