Community Reinvestment Act (CRA) Public Notice

Sonabank’s Community Reinvestment Act website contains information about Sonabank’s performance under the requirements of the Community Reinvestment Act. We have provided website access so that you may review this information at your convenience and print the information that you may wish to retain. Federal regulations require that we provide you with the following information which is contained under respective tabs on this website.

Comments or questions about this site or about Sonabank's CRA performance may be addressed to:

Sonabank                                                                                                                                                                                           Attn: CRA Officer
P.O. Box 6030
Glen Allen, VA 23058

CRA Resources

Consumer Services

Deposit Accounts and Related Services

Consumer checking accounts feature: $25 minimum opening deposit; free Visa® Debit Card

  • Kasasa Cash® is free checking with no monthly service fees. Customers can earn a competitive interest rate and refunds on ATM fees, nationwide. Customers can link Kasasa Saver® for additional for high-paying, automatic savings. 
  • For customers who like to buy music, movies, apps, and more, Kasasa Tunes® is the free checking account with no minimum balance requirement and no monthly service charge. Each month, customers can earn refunds up to $10 in iTunes®,® or Google Play™ purchases. 
  • Kasasa Cash Back® offers cash rewards with up to $7.50 in cash back each month on everyday debit card purchases. Unlike other cash back programs, Kasasa Cash Back doesn’t restrict refunds to certain categories like gas or groceries.
    • Kasasa accounts also offer refunds of ATM fees nationwide. See account agreements for rules and limitations.
  • Free Checking offers an account with no check writing limits, no monthly service fees, and ATM access. 
  • Sonabank's Premier Club checking, exclusively available to customers age 50 or better, offers a checking account that earns both interest and perks — including free check printing, financial seminars, special travel packages, and even more!
    • Sonabank is proud to be a partner in Go Direct®, a national campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve Banks, to encourage people who receive Social Security or other federal benefit payments by check to switch to direct deposit. Customers may designate the account into which federal deposits will be made.

Time and Savings Deposits for Consumers

  • Time Certificates of Deposit provide customers with higher rates of interest for funds left on deposit for a specific lengths of time. By locking in terms, customers can look forward to guaranteed yields when the account matures. Sonabank offers a variety of CD terms, ranging from 90 days to 60 months.  
  • Sonabank's Money Market Account earns competitive interest on a sliding scale. There's no monthly service fee on balances of $2,500 or more. Plus, access your assets with up to 6 free withdrawals per month.
  • Statement Savings Accounts require a daily balance of $100 or more with no quarterly service fee. Accounts pay competitive interest quarterly. Minimum balance requirements are weave for account holders under 18.
  • Sonabank believes that saving should be simple. Each month, the rewards from your Kasasa® checking account are automatically transferred to your Kasasa Saver® account, where customers can earn interest on cash rewards and other personal savings.
  • Individual Retirement Accounts offer customers the opportunity to save for retirement in tax-exempt or tax-deferred accounts. Sonabank offers both Traditional and Roth IRAs with various competitive interest rates and/or maturity dates.
  • Sonabank's CDARS program offers customers whose balances may exceed FDIC insurance limitations a way to insure that their deposits are always protected.

Loan Services

Sonabank offers a wide variety of consumer loans to credit worthy applicants without regard to race, color, religion, national origin, sex, marital status, age, or income from public assistance, familial statutes or handicap (disability).

  • Installment Loans and Personal Loans may be used to meet a variety of credit needs- motor vehicle purchase, home improvement, college financing — almost any credit need. Installment loans are offered with a wide-range of maturity dates and may be secured or unsecured. Sonabank also offers personal lines of credit to cover overdrafts on checking accounts for approved borrowers. 
  • From first homes to investment properties, Sonabank offers a wide array of mortgage loan options, with fast service and low interest rates to help make buying a home a reality. Sonabank's experienced and dedicated home loan experts assist customers in choosing the best mortgage loan for individual needs. Sonabank partners with its affiliate, Southern Trust Mortgage, to offer a variety of Qualified and non-qualified mortgages to customers who can demonstrate the ability to repay their home loans.
  • Sonabank offers personalized service and a variety of boat loan options to fit customer’s needs. Sonabank finances new or used, power or sail. With quick approvals, flexible loan options, fixed rate terms up to 20 years.
  • Equity Loans and Equity Lines of Credit secured by a residence are available to qualified borrowers.
  • Credit Cards are available to qualified applicants through a third party provider.

Other Consumer Financial Services

  • Consumer customers may access their account records 24 hours a day through free Online Banking and Bill Pay service which allows customer to view account records, check balances, transfers funds among Sonabank accounts and pay third party bills. Customers may also access their account records and perform banking transactions through Sonabank's Mobile Banking
  • Sonabank offers funds transfer services through traditional wire transfer services and through Popmoney, a funds transfer service using mobile phones to send money to a third party.
  • Insurance and Investment Services are offered through third party providers. Insurance and investment services are not insured by the FDIC or any other agency of the United States; are not deposits or other obligations insured by any bank or bank affiliate and are subject to risk including the possible loss of principal

Services to Businesses

Deposit Accounts

  • Sonabank offers a variety of Commercial Checking and Money Market Accounts for commercial customers. Depending upon the choice of account, service charges, interest rates and limitations on transactions may apply. Accounts may be accessed through a Sonabank Visa® Debit Card.
  • Non-profit organizations may select the Community Believer Non-Profit Checking Account, which pays a competitive rate of interest and offers unlimited check writing.
  • Businesses that accept credit cards may deposit those items through a Merchant Services Account which offers competitive rates and low cost equipment.

Loan Services are offered to credit worthy applicants without regard to race, color, religion, national origin, sex, marital status, age, or income from public assistance, familial statutes or handicap (disability).

  • Sonabank is able to meet the credit needs of its qualified customers through Commercial Loans and through Commercial Lines of Credit. These credit facilities offer a variety of rates and terms to meet such needs as equipment purchases, inventory financing and other business needs.
  • Commercial Mortgages are available for the building needs and capital improvements.
  • SBA Loans with lower rates and longer repayment terms are available for business start ups and small business expansion programs.
  • Visa® Business Credit Cards, issued by a third party, are available in single and multiple issuances to qualified customers.

Other Services

  • Sonabank offers an array of Cash Management Services including ACH Origination, Remote Deposit Capture. Positive Pay® and Sweep Account Services — assisting businesses of all sizes with prompt and accurate funds management.
  • Business customers may select free Business Online Banking and Bill Pay which provides account information and the ability to transfer funds among Sonabank accounts and to pay bills online. Sonabank also offers a more comprehensive Business Online Banking Service that provides in-depth record keeping, ACH services and ability to request records and other services online.
  • Commercial Insurance Services are offered through a third party provider.


Sonabank designed and introduced a multi-faceted program to meet the unique needs of women business owners throughout Virginia. With personalized service and a wide array of financial products exclusively for entrepreneurial women, the P.O.W.E.R. program provides all the tools to succeed and flourish.

Home Mortgage Disclosure Act Notice

The Home Mortgage Disclosure Act (HMDA) data about our residential mortgage lending are available online for review. The data shows geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. These data are available online at the Consumer Financial Protection Bureau's website ( HMDA data for any other financial institutions are also available at this website.

Additional Info

Community Service & Investments

Sonabank is a full service community bank operating in central and southeastern Virginia. Our service area includes census tracts within two Metropolitan Statistical Areas (Richmond, Virginia and Virginia Beach-Norfolk-Newport News, VA) and census tracts outside the MSAs. The service area includes upper, middle and low-to- moderate income neighborhoods.

Sonabank as a company and through the efforts of its employees donates a substantial amount of time and resources to community events, financial literacy education and fund raising efforts. Every Sonabank employee has the opportunity to use 8 hours of company time for community service, as well as participate in bank-sponsored events which raise funds for charities in Sonabank's communities.

The success of a loan program associated with recent tornadoes reflects Sonabank's investment in its customers. The loan program offered low-interest loans for those whose property losses resulted from the tornadoes. This loan program remains available for disaster recovery. 

On an annual basis, Sonabank donates to various causes across its 45-branch network. Bank employees and regional boards are instrumental in making recommendations for corporate donations. In addition the company and its employees participate fully in the Relay for Life, a philanthropic event that raises funds to support Relay for Life, a national event sponsored by the American Cancer Society.

Sonabank ensures that its investments portfolio contains investments for the benefit of the communities it serves. Sonabank has invested in community development funds, low-income housing developments and public school improvement bonds. These investments signify Sonabank's commitment to the improvement of housing and education in the communities served by the Bank.