Overview / Commentary
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 336th largest bank in the nation. It was established in 2005 and as of September of 2020, it had grown to 361 employees at 45 locations. Sonabank has an A+ health rating.

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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

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Reviews (1)

Sonabank Problems

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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 Grade Components

FDIC Certificate #57968
Year Established2005
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD5.28%
Annual Interest Income$85.9MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$3.16B$2.70B
LoansQ3 2020vs Q3 2019$2.50B$2.13B
DepositsQ3 2020vs Q3 2019$2.28B$2.19B
Equity CapitalQ3 2020vs Q3 2019$440.4MM$416.0MM
Loan Loss AllowanceQ3 2020vs Q3 2019$25.8MM$11.2MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$11.2MM$333.00K
Real Estate OwnedQ3 2020vs Q3 2019$5.4MM$5.8MM
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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

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

Sonabank Money Market Rates

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

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


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