---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-015407"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:18:29.736336+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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

## SEC filing metadata
- accession: 0000950170-23-015407
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000095017023015407/0000950170-23-015407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000095017023015407/frst-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-015407
- JSON: https://secwatch.observer/filing/0000950170-23-015407.json
- Plain text: https://secwatch.observer/filing/0000950170-23-015407.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325670/000095017023015407/0000950170-23-015407-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.