MCLEAN, Va.–(PRNewswire)–Southern National Bancorp of Virginia, Inc. (NASDAQ: SONA) (the “Company”) today announced that Tyler Stafford has joined the executive team as President of Panacea Financial, a newly created division of the Company. Concurrently with Mr. Stafford’s hiring, the Company announced that it has agreed to an exclusive marketing and licensing agreement with Panacea Financial, LLC which will focus on national lending, deposit gathering, wealth, and insurance needs with unique products and services for the medical community. Mr. Stafford is the CEO and Co-Founder of Panacea Financial, LLC, which is headquartered in Little Rock, AR and more information can be found at www.panaceafinancial.com.
SONA CEO, Dennis Zember noted, “I am very excited about the opportunity with Panacea and excited about having Tyler on our team. Panacea will enhance the overall growth outlook of the bank, providing strong credit quality metrics and core deposit opportunities with a highly sought after group of professionals. Zember further noted that, “Tyler’s career has been focused on evaluating the strengths and weaknesses of the industry and its strategies and I know that his insight and perspective will make us a better organization on several levels.”
Mr. Stafford was most recently a Managing Director and Senior Research Analyst at Stephens, Inc. where he covered Southeast and West Coast financial institutions for nearly a decade with a focus on small and mid-cap regional banks. Prior to Stephens, Mr. Stafford began his career at Regions Financial in commercial banking. Mr. Stafford is a Chartered Financial Analyst (CFA) charterholder.
Mr. Stafford noted, “I am excited to join the Southern National team and lead the Panacea Financial Division. I’ve always appreciated Dennis’s forward thinking view and am excited for Panacea to partner with such a strong leader and bank.”