Primis Financial Q4 EPS $0.33 vs $0.12 YoY; declares $0.10 dividend; invests in Panacea Financial

Primis Financial Corp.

2024-FY EPS reported -$0.32

Net income $8.1M ($0.33 diluted) for Q4 2023, up from $3.0M ($0.12) in Q4 2022.
Net interest margin improved to 3.36% (3.09% excl. accretion) from 3.01% in Q3 2023; core expense burden fell to $18.7M.
Primis acquired ~19% of Panacea Financial Holdings (implied value ~$20M) for immaterial price; PFH completed $24.5M Series B.
Quarterly dividend $0.10 declared, payable Feb 23, 2024 to shareholders of record Feb 9, 2024.
Nonperforming assets (ex SBA) dropped 61% to $7.7M; tangible common equity ratio 7.99%.

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 0.9

Primis Financial Corp. reported the quarter ended December 31, 2023 results: net income $8.1 million, EPS $0.33 per diluted share.

Period: the quarter ended December 31, 2023
Net income: $8.1 million
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

net income available to common shareholders of $8.1 million or $0.33 per diluted share for the quarter ended December 31, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Primis Financial Corp. reported the year-to-date period in 2023 results: net income $9.9 million, EPS $0.40.

Period: the year-to-date period in 2023
Net income: $9.9 million
EPS: $0.40
Result: reported results

Exact text from the filing

For the year-to-date period in 2023, the Company reported earnings available to common and diluted earnings per share of $9.9 million and $0.40, respectively

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Primis Financial Corp. filing history →

Source: SEC EDGAR

accession 0001104659-24-006845

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