Southern National in Virginia to rebrand as Primis Financial

Southern National Bancorp of Virginia in Charlottesville, Va., is taking on a new identity.

The $3 billion-asset company said it will rebrand as Primis Financial on March 31. Its Sonabank unit will become Primis Bank, while its stock symbol will change from SONA to FRST.

"Over the last year, we have focused hard on our culture,” Dennis Zember, Southern National’s president and CEO, said in a press release Thursday.

“Our efforts have centered on building the foundation for a company with higher expectations around innovation and technology,” Zember added. “We want to deliver a better return for our shareholders and an experience for our customers that prompts them to brag about us. … This kind of effort and commitment deserves a first-class brand."

The announcement comes a year after Southern National coaxed Zember to return to banking after a year away from the industry. Zember abruptly resigned as the leader of Ameris Bancorp in July 2019 to address undisclosed “family and personal matters.”

Southern National also said its fourth-quarter earnings fell 6.5% from a quarter earlier to $9 million. Its loan-loss provision increased by 55% to $3.1 million.