Primis Financial Q1 net income $5.8M ($0.23 EPS); digital deposits surge to $980M

Primis Financial Corp.

2024-Q1 EPS reported $0.34

Net income $5.8M, EPS $0.23 basic/diluted vs $0.19 a year ago; revenue including noninterest income $11.5M
Digital platform deposits reached $980M from ~11,500 customers; cost of deposits 4.88%, near Fed Funds
Gross loans-to-deposits ratio improved to 83% from 108% at Dec 31; repaid $340M of short-term borrowings
Cash and equivalents $607M at March 31, up from $78M at year-end 2022; uninsured deposits now 26% of total
Declared quarterly dividend of $0.10/share payable May 26, 2023 to holders of record May 12, 2023

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Primis Financial Corp. reported three months ended March 31, 2023 results: net income $5.8 million, EPS $0.23.

Period: three months ended March 31, 2023
Net income: $5.8 million
EPS: $0.23
Result: reported results

Exact text from the filing

Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income of $5.8 million for the quarter ended March 31, 2023, compared to $3.1 million for the quarter ended December 31, 2022 and $4.6 million for the quarter ended March 31, 2022. Earnings per share ("EPS") for the three months ended March 31, 2023 were $0.23 on a basic and diluted basis, compared to $0.13 on a basic and $0.12 on a diluted basis for the three months ended December 31, 2022 and $0.19 on both a basic and diluted basis for the three months ended March 31, 2022.

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Source: SEC EDGAR

accession 0000950170-23-015407

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