Primis Financial Q3 net income $5.1M, EPS $0.21; NPA jumps; authorizes 3% share buyback

Primis Financial Corp.

2023-Q3 EPS reported $0.59

Q3 2022 net income from continuing ops $5.1M ($0.21 basic EPS) vs $6.2M a year ago; total revenue $33.0M up 29.4% YoY.
Net interest margin of 3.57% (up 70 bps YoY) driven by low deposit beta; loan yield ex-PPP rose to 4.51%.
Nonperforming assets (ex-SBA) increased to $37.2M from $19.9M at June 30 due to one assisted living relationship; no impairment.
Board authorized repurchase of up to 739,500 shares (~3% of outstanding) over one year; quarterly dividend of $0.10/share declared.
Expects $4.1M pre-tax gain in Q4 from Infinex acquisition; mortgage teams recruited with ~$700M annual production potential.

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 the three months ended September 30, 2022 results: revenue $33.0 million, net income $5.1 million, EPS $0.21 on a basic and $0.20 on diluted basis.

Period: the three months ended September 30, 2022
Revenue: $33.0 million
Net income: $5.1 million
EPS: $0.21 on a basic and $0.20 on diluted basis
Result: reported results

Exact text from the filing

non-interest bearing checking deposits of $687.3 million, representing 25.4% of total deposits at September 30, 2022, compared to 19.1% at September 30, 2021. Total revenue of $33.0 million in the current quarter of 2022, up 29.4% from the same period in 2021. Tangible common equity to tangible assets and leverage ratio of 8.73% and 9.96%, respectively, are 114

View on SEC.gov

Browse all earnings releases →

Primis Financial Corp. filing history →

Source: SEC EDGAR

accession 0001564590-22-035485

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.