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Sonabank (NASDAQ: SONA) has also agreerd to retain allbranch employees. The sale includes $26 million in and $26 million in loans. Under termx of the sale, half of the loanw will be transferred to Sonabank in late The remaining loans and deposits will be transferredx to Sonabank onSeptember 28, subjecty to regulatory approval, Millennium said in a John Novak, who was namee Millennium’s chief executive earlier this year, says the sale is “aq continuing part of our efforts to focux on our core Northern Virginia market and to stabilize our capital position.” Millennium lost $16 million in 2008 and has not postedc an annual profit sincew 2005.
It is also under regulator enforcement agreements with the Office of the Comptrolleer of the Currency and the Federal Reserve Bankof McLean-based Southern National Bankcorp (NASDAQLk SONA) has branches in McLean, Herndon, Leesburg and Warrenton, as well as locationz in Charlottesville and Clifton Forge, Va. Millennium (OTCBB: has branch locations in Reston, Herndo and Sterling.
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