MIDDLEBURG, Va., March 3, 2011 (GLOBE NEWSWIRE) -- Sonabank will open its first branch in Middleburg at 10 West Washington St, Middleburg, VA. Approvals from the Federal Reserve of Richmond and the State Corporation Commission of Virginia have been received for Sonabank. The lease has been signed and construction will begin shortly. The Middleburg branch is expected to open mid April or the beginning of May. This is to be Sonabank's 14 th branch, and its third in Loudoun County, along with its existing branches located in Leesburg and South Riding. Sonabank believes that the Middleburg and Loudoun County markets present extraordinary opportunities for a locally owned community bank.
Georgia Derrico, CEO of Sonabank, commented: "It's going to be so great to again have a branch in Middleburg with all of our old business friends!"
Sonabank opened for business in April 2005 with a branch in Charlottesville. In December 2005 Sonabank purchased a branch in Clifton Forge, Virginia. In December 2006 Sonabank acquired 1 st Service Bank of McLean, Virginia which had branches in McLean, Reston and Fairfax. In April 2007 it opened a branch in Warrenton, Virginia adjacent to its administrative center. Sonabank purchased the Leesburg branch and drive through in February 2008. In June 2009 it purchased the Old Town Warrenton branch. December 2009 saw the purchase of Greater Atlantic Bank, which brought the additions of Virginia branches in New Market, South Riding, and Front Royal, and a branch in Rockville, Maryland.Sonabank specializes in middle market and small business lending and retail banking except for residential mortgages and Home Equity Lines of Credit. The Bank will entertain all types of middle market lending, including SBA, commercial real estate and construction lending. Sonabank also prides itself on its flexible and cutting edge deposit products, which have very competitive rates. Sonabank is a middle market business lender and understands the problems of small and middle market businesses, we believe better than any other bank. Ask our customers!
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