secwatch.observer — SEC 8-K summary
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Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0000950170-23-015407
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000095017023015407/0000950170-23-015407-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000095017023015407/frst-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-015407

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