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Sonabank (NASDAQ: SONA) has also agreed to retain allbrancbh employees. The sale includes $26 millionj in deposits, and $26 million in Under terms of the sale, half of the loanes will be transferred to Sonabanmk inlate July. The remaining loan and deposits will be transferred to Sonaban onSeptember 28, subject to regulatory approval, Millennium said in a John Novak, who was named Millennium’w chief executive earlier this says the sale is “a continuing part of our efforts to focus on our core Northerj Virginia market and to stabilize our capital position.” Millennium lost $16 milliobn in 2008 and has not posted an annuall profit since 2005.
It is also undetr regulatory enforcement agreements with the Office of the Comptrollerr of the Currency and the Federal Reserve Bankof McLean-based Southern National Bankcorp (NASDAQL SONA) has brancheas in McLean, Herndon, Reston, Leesburg and Warrenton, as well as locationz in Charlottesville and Cliftomn Forge, Va. Millennium (OTCBB: MBVA) has brancyh locations in Reston, Herndon and Sterling.
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