Primis deposits surge $908M, loan-to-deposit ratio drops to 83%; mobile bank adds 10,600 accounts

Primis Financial Corp.

Core deposits grew ~$908M through March 9, 2023; bank now 97% core customer funded.
Loan-to-deposit ratio fell to 83% from 108% at Dec 31, 2022; cash balance $600M.
Retired $325M of maturing FHLB borrowings; has $855M additional borrowing capacity.
Mobile banking platform opened 10,600 new accounts since Q4 2022 with $921M in deposits.
No exposure to crypto or venture capital; average account balance $44,000.

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