Exhibit 99.1

Southern National Bancorp of Virginia, Inc.

McLean, Virginia

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands)		September 30, 2009				December 31, 2008
Assets
Cash and cash equivalents		$	17,056			$	14,762
Investment securities-available for sale			5,133				15,633
Investment securities-held to maturity			51,654				59,326
Stock in Federal Reserve Bank and Federal Home Loan Bank			4,427				4,041
Loans receivable, net of unearned income			346,232				302,266
Allowance for loan losses			(4,871	)			(4,218	)
Net loans			341,361				298,048
Intangible assets			11,552				11,854
Bank premises and equipment, net			3,328				3,598
Bank-owned life insurance			13,867				13,435
Other assets			13,628				11,227
Total assets		$	462,006			$	431,924
Liabilities and stockholders’ equity
Noninterest-bearing deposits		$	27,592			$	23,219
Interest-bearing deposits			313,096				286,241
Securities sold under agreements to repurchase and other short-term borrowings			23,001				20,890
Federal Home Loan Bank advances			30,000				30,000
Other liabilities			1,986				2,798
Total liabilities			395,675				363,148
Stockholders’ equity			66,331				68,776
Total liabilities and stockholders’ equity		$	462,006			$	431,924

Condensed Consolidated Statements of Income

(Unaudited)

(in thousands)		For the Quarters Ended September 30,								For the Nine Months Ended September 30,
		2009				2008				2009				2008
Interest and dividend income		$	5,778			$	6,039			$	16,775			$	18,315
Interest expense			1,827				2,989				6,288				9,114
Net interest income			3,951				3,050				10,487				9,201
Provision for loan losses			1,178				500				2,203				1,207
Net interest income after provision for loan losses			2,773				2,550				8,284				7,994
Account maintenance and deposit service fees			171				133				441				367
Income from bank-owned life insurance			144				148				432				438
Gain on sale of loans			155				107				155				107
Net gain (loss) on other assets			479				39				596				(136	)
Net impairment losses recognized in earnings			(1,213	)			(1,345	)			(2,076	)			(1,469	)
Gain on sale of securities			148				111				371				111
Other			24				31				81				73
Noninterest income (loss)			(92	)			(776	)			—				(509	)
Salaries and benefits			1,098				1,045				3,097				2,963
Occupancy expenses			515				507				1,535				1,475
FDIC assessments			151				54				448				153
FDIC special assessment			—				—				190				—
Other			850				694				2,251				2,142
Noninterest expense			2,614				2,300				7,521				6,733
Income (loss) before income taxes			67				(526	)			763				752
Income tax expense (benefit)			(21	)			231				126				558
Net income (loss)		$	88			$	(757	)		$	637			$	194

Financial Highlights

(Unaudited)

(Dollars in thousands except per share data)		For the Quarters Ended September 30,								For the Nine Months Ended September 30,
		2009				2008				2009				2008
Per Share Data:
Earnings per share - Basic		$	0.01			$	(0.11	)		$	0.09			$	0.03
Earnings per share - Diluted		$	0.01			$	(0.11	)		$	0.09			$	0.03
Book value per share										$	9.76			$	9.95
Weighted average shares outstanding - Basic			6,798,547				6,798,547				6,798,547				6,798,547
Weighted average shares outstanding - Diluted			6,800,126				6,798,547				6,798,547				6,798,547
Shares outstanding at end of period											6,798,547				6,798,547
Selected Performance Ratios and Other Data:
Return on average assets			0.08	%			-0.71	%			0.20	%			0.06	%
Return on average equity			0.51	%			-4.37	%			1.23	%			0.37	%
Yield on earning assets			5.69	%			6.17	%			5.62	%			6.61	%
Cost of funds			2.08	%			3.54	%			2.45	%			3.85	%
Cost of funds including non-interest bearing deposits			1.96	%			3.35	%			2.30	%			3.63	%
Net interest margin			3.89	%			3.12	%			3.51	%			3.32	%
Efficiency ratio (1)			60.93	%			68.41	%			65.47	%			66.80	%
Net charge-offs (recoveries) to average loans			0.26	%			0.13	%			0.48	%			0.20	%
Amortization of intangibles		$	182			$	182			$	545			$	545

		As of
		September 30, 2009				December 31, 2008
Nonaccrual loans		$	2,913			$	1,078
Loans past due 90 days and accruing interest			—				135
Other real estate owned			3,744				3,434
Total nonperforming assets		$	6,657			$	4,647
Allowance for loan losses to total loans			1.41	%			1.40	%
Nonperforming assets to total assets			1.44	%			1.08	%
Nonperforming assets to total loans			1.92	%			1.54	%
Stockholders’ equity to total assets			14.36	%			15.92	%
Tier 1 risk-based captial ratio			14.87	%			17.46	%
Intangible assets:
Goodwill		$	8,713			$	8,713
Core deposit intangible			2,839				3,141
Total		$	11,552			$	11,854

(1) Excludes gains and write-downs on OREO, gains on sale of loans, gains/losses on sale of securities and impairment losses recognized in earnings.

Securities Portfolio Overview

At the end of the second quarter of 2009, management’s analysis deemed three of the ten securities owned were other than temporarily impaired. The cash flow analysis in the second quarter indicated that one security, ALESCO XV C1 would probably experience significant credit losses. Two others, ALESCO V C1 and ALESCO XVI C, would probably experience minor credit losses. Southern National booked second quarter OTTI charges accordingly. In the third quarter of 2009 analysis indicated that Southern National would incur OTTI charges on three additional securities: MMC Funding XVIII, TRAP 2007 – XIII D and TPREF Funding II and additional OTTI charges on three other securities: ALESCO V C1, ALESCO XV C1 and ALESCO XVI C.

As of September 30, 2009, the results were as follows (in thousands):

Security		Tranche Level		Ratings When Purchased				Current Ratings				Par Value			Book Value			Estimated Fair Value			Current Defaults and Deferrals (4)			% of Current Defaults and Deferrals to Current Collateral			Sandler O'Neill (a) Sterne Agee (b) Estimated Incremental Defaults Required to Break Yield (1)				Previously Recognized Cumulative Other Comprehensive Loss (2)
				Moody's		Fitch		Moody's		Fitch
												(in thousands)
Investment Grade:
ALESCO VII A1B		Senior		Aaa		AAA		A3		AA		$	8,792		$	7,802		$	6,506		$	132,556		21	%		$	288,348	b		$	332
MMCF II B		Senior Sub		A3		AA-		Baa2		BBB			583			533			484			34,000		26	%			16,900	a			50
MMCF III B		Senior Sub		A3		A-		Baa3		B			709			692			369			10,000		8	%			30,200	a			17
													10,084			9,027			7,359												$	399
Other:
TRAP 2007-XII C1		Mezzanine		A3		A		Ca		CC			2,012			1,422			282			118,250		24	%			40,860	b		$	590
																															Cumulative Other Comprehensive Loss (3)			Previously Recognized OTTI Related to Credit Loss (3)			Current Quarter OTTI Related to Credit Loss (3)
Other Than Temporarily Impaired:
TPREF FUNDING II		Mezzanine		A1		A-		Caa3		CC			1,500			522			522			114,000		33	%			2,200	a		$	922		$	—		$	56
TRAP 2007-XIII D		Mezzanine		NR		A-		NR		C			2,023			142			142			158,250		21	%			—	b			1,800			—			81
MMC FUNDING XVIII		Mezzanine		A3		A-		Ca		C			1,025			99			99			100,500		30	%			—	a			605			—			321
ALESCO V C1		Mezzanine		A2		A		Ca		CC			2,000			534			534			70,942		21	%			—	b			1,273			3			191	(5)
ALESCO XV C1		Mezzanine		A3		A-		Ca		CC			3,032			212			212			180,250		27	%			—	b			1,577			799			444
ALESCO XVI C		Mezzanine		A3		A-		Ca		CC			2,021			424			424			126,250		25	%			—	b			1,416			61			120
													11,601			1,933			1,933												$	7,593		$	863		$	1,213
Total												$	23,697		$	12,382		$	9,574

(1) A break in yield for a given tranche means that defaults/deferrals have reached such a level that the tranche would not receive all of its contractual cash flows (principal and interest) by maturity (so not just a temporary interest shortfall, but an actual loss in yield on the investment). In other words, the magnitude of the defaults/deferrals has depleted all of the credit enhancement (excess interest and over-collateralization) beneath the given tranche. This represents additional defaults beyond those currently existing.

(2) Pre-tax, and represents unrealized losses at date of transfer from available-for-sale to held-to-maturity

(3) Pre-tax

(4) Includes known defaults and deferrals at September 30, 2009. Subsequent to quarter end, we received notification of additional deferrals totaling $10.5 million, $5.5 million and $4.55 million on ALESCO V, ALESCO VII and ALESCO XV, respectively. The deferrals on ALESCO VII and ALESCO XV did not result in OTTI for the quarter.

(5) The deferral which resulted in the incremental OTTI occurred after September 30, 2009.