Southern National Bancorp of Virginia to Acquire Prince George's Federal Savings Bank for $12.75/Share in Cash, Stock Deal

Southern National Bancorp of Virginia

jointly announced today the signing of a definitive merger agreement, under which Southern National has agreed to acquire Prince George's FSB

in a cash and stock transaction with a total current value of approximately $11.5 million or $12.75 per share, subject to the terms of the definitive merger agreement. Upon completion of the transaction, the combined company will have approximately $805 million in total assets, $700 million in total deposits, and $600 million in total loans.