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Complete financial analysis of Primis Financial Corp. (FRST) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Primis Financial Corp., a leading company in the Banks – Regional industry within the Financial Services sector.
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Primis Financial Corp. (FRST)
About Primis Financial Corp.
Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits. The company also offers commercial business and real estate, construction, secured asset based, small business administration, mortgage warehouse lending products, as well as financing for medical, dental, and veterinary businesses; residential mortgage, trust mortgage, home equity lines of credit, secured and unsecured personal, and consumer loans, as well as life insurance premium financing and demand loans. It also offers cash management services comprising investment/sweep, zero balance, and controlled disbursement accounts; and wire transfer, employer/payroll processing, night depository, depository transfer, merchant, ACH origination, and remote deposit capture services. In addition, the company provides debit cards, ATM services, notary services, and mobile and online banking. As of December 31, 2021, it operated forty full-service branches in Virginia and Maryland. The company was formerly known as Southern National Bancorp of Virginia, Inc. and changed its name to Primis Financial Corp. Primis Financial Corp. was founded in 2004 and is based in McLean, Virginia.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 143.96M | 125.82M | 103.93M | 99.80M | 93.46M | 102.16M | 73.69M | 42.03M | 38.95M | 35.22M | 32.20M | 33.84M | 29.48M | 26.32M | 17.03M | 12.29M | 11.02M | 6.19M | 492.34K | 362.12K |
| Cost of Revenue | 8.17M | 10.40M | 9.62M | 8.02M | 10.17M | 7.24M | 5.99M | 2.98M | 3.68M | 3.08M | 3.11M | 2.35M | 2.35M | 1.98M | 1.30M | 1.32M | 1.29M | 1.17M | 0.00 | 0.00 |
| Gross Profit | 135.79M | 115.42M | 94.31M | 91.79M | 83.29M | 94.92M | 67.70M | 39.05M | 35.26M | 32.15M | 29.10M | 31.50M | 27.13M | 24.34M | 15.73M | 10.97M | 9.73M | 5.02M | 492.34K | 362.12K |
| Gross Profit Ratio | 94.33% | 91.73% | 90.74% | 91.97% | 89.12% | 92.92% | 91.87% | 92.92% | 90.55% | 91.27% | 90.36% | 93.07% | 92.04% | 92.48% | 92.36% | 89.23% | 88.28% | 81.07% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 61.69M | 49.01M | 42.28M | 41.35M | 30.26M | 28.77M | 21.09M | 12.22M | 13.15M | 12.02M | 10.37M | 9.21M | 8.25M | 7.91M | 5.65M | 4.02M | 3.35M | 2.28M | 1.47M | 1.22M |
| Selling & Marketing | 1.82M | 3.07M | 1.73M | 1.77M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 63.51M | 49.01M | 42.28M | 41.35M | 30.26M | 28.77M | 21.09M | 12.22M | 13.15M | 12.02M | 10.37M | 9.21M | 8.25M | 7.91M | 5.65M | 4.02M | 3.35M | 2.28M | 1.47M | 1.22M |
| Other Expenses | 80.45M | -28.39M | -106.24M | -111.25M | -84.47M | -53.83M | -53.78M | -27.23M | -27.39M | 41.00K | -25.50M | -3.48M | -23.20M | 288.00K | -3.87M | -1.48M | -144.00K | -1.43M | 1.19M | 415.52K |
| Operating Expenses | 143.96M | 7.85M | -63.96M | -69.90M | -54.21M | -25.06M | -32.69M | -15.01M | -14.23M | 12.07M | -15.13M | 5.73M | -14.95M | 8.20M | 1.78M | 2.54M | 3.20M | 853.00K | 2.66M | 1.64M |
| Cost & Expenses | 143.96M | 18.25M | -63.96M | -69.90M | -54.21M | -25.06M | 5.99M | 2.98M | 3.68M | 15.14M | 3.11M | 8.07M | 2.35M | 10.18M | 3.08M | 1.32M | 1.29M | 1.17M | 2.66M | 1.64M |
| Interest Income | 192.62M | 126.07M | 113.24M | 117.78M | 120.52M | 118.91M | 83.57M | 48.95M | 43.70M | 38.09M | 35.12M | 37.56M | 33.42M | 32.97M | 23.24M | 24.33M | 21.75M | 10.78M | 6.29M | 4.31M |
| Interest Expense | 93.91M | 21.59M | 19.04M | 26.14M | 36.92M | 27.84M | 15.65M | 8.63M | 7.08M | 4.67M | 4.67M | 5.83M | 6.09M | 8.51M | 8.08M | 11.98M | 11.09M | 4.86M | 2.96M | 1.62M |
| Depreciation & Amortization | 0.00 | 3.83M | 2.40M | 6.27M | 9.60M | 4.72M | 3.02M | 1.02M | 1.29M | 1.17M | 1.48M | 1.80M | 1.49M | 1.48M | 1.29M | 1.10M | 1.02M | 767.00K | 129.66K | 104.63K |
| EBITDA | -10.11M | 0.00 | 47.78M | 38.10M | 47.42M | 50.71M | 20.20M | 16.39M | 15.24M | 12.41M | 10.77M | 11.48M | 8.69M | 8.86M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Ratio | -7.02% | 40.77% | 39.77% | 31.33% | 43.51% | 76.89% | 48.65% | 59.54% | 57.31% | 48.49% | 47.94% | 51.15% | 46.38% | 47.46% | 74.40% | 118.88% | 126.54% | 107.26% | 667.19% | 580.56% |
| Operating Income | -10.11M | 49.97M | 39.97M | 29.90M | 39.24M | 77.10M | 35.01M | 24.04M | 21.03M | 15.91M | 13.96M | 15.51M | 12.18M | 11.01M | 11.38M | 13.51M | 12.93M | 5.87M | 3.16M | 2.00M |
| Operating Income Ratio | -7.02% | 39.72% | 38.46% | 29.96% | 41.99% | 75.47% | 47.51% | 57.20% | 54.01% | 45.17% | 43.36% | 45.83% | 41.31% | 41.83% | 66.81% | 109.90% | 117.33% | 94.86% | 640.86% | 551.66% |
| Total Other Income/Expenses | -1.07M | -1.40M | 8.72M | 8.47M | -189.00K | -1.81M | -10.79M | -1.36M | -1.21M | -641.00K | -1.12M | -952.00K | -626.00K | -3.99M | -7.36M | 0.00 | 0.00 | 1.00 | -2.26M | -1.73M |
| Income Before Tax | -11.18M | 22.28M | 39.74M | 29.90M | 39.24M | 43.31M | 15.57M | 15.41M | 13.96M | 11.24M | 9.29M | 9.68M | 6.09M | 2.50M | 3.30M | 1.52M | 1.84M | 1.01M | 614.58K | 271.84K |
| Income Before Tax Ratio | -7.77% | 17.71% | 38.24% | 29.96% | 41.99% | 42.39% | 21.13% | 36.66% | 35.83% | 31.90% | 28.86% | 28.61% | 20.67% | 9.49% | 19.39% | 12.39% | 16.73% | 16.31% | 124.83% | 75.07% |
| Income Tax Expense | -1.07M | 4.54M | 8.72M | 6.61M | 6.08M | 9.61M | 13.15M | 5.10M | 4.67M | 3.75M | 3.04M | 3.12M | 1.69M | 698.00K | 947.00K | 315.00K | 108.00K | 0.00 | 417.33K | -101.94K |
| Net Income | -7.83M | 17.74M | 31.25M | 23.29M | 33.17M | 33.69M | 2.43M | 10.31M | 9.29M | 7.48M | 6.26M | 6.57M | 4.40M | 1.80M | 2.36M | 1.21M | 1.74M | 1.01M | 197.25K | 373.78K |
| Net Income Ratio | -5.44% | 14.10% | 30.07% | 23.33% | 35.49% | 32.98% | 3.29% | 24.54% | 23.85% | 21.24% | 19.43% | 19.41% | 14.93% | 6.84% | 13.83% | 9.83% | 15.75% | 16.31% | 40.06% | 103.22% |
| EPS | -0.32 | 0.72 | 1.28 | 0.96 | 1.38 | 1.40 | 0.13 | 0.84 | 0.76 | 0.63 | 0.54 | 0.57 | 0.38 | 0.35 | -0.62 | 0.18 | 0.26 | 0.22 | -0.54 | 0.40 |
| EPS Diluted | -0.32 | 0.72 | 1.26 | 0.96 | 1.36 | 1.39 | 0.13 | 0.83 | 0.75 | 0.63 | 0.54 | 0.57 | 0.38 | 0.35 | -0.62 | 0.18 | 0.25 | 0.21 | -0.54 | 0.40 |
| Weighted Avg Shares Out | 24.85M | 24.56M | 24.44M | 24.24M | 24.05M | 24.01M | 18.39M | 12.25M | 12.22M | 11.85M | 11.59M | 11.59M | 11.59M | 11.59M | 7.56M | 6.80M | 6.80M | 4.24M | 4.21M | 943.21K |
| Weighted Avg Shares Out (Dil) | 24.69M | 24.67M | 24.60M | 24.36M | 24.33M | 24.27M | 18.69M | 12.42M | 12.33M | 11.93M | 11.63M | 11.60M | 11.59M | 11.59M | 7.56M | 6.80M | 6.88M | 4.83M | 4.21M | 943.21K |
Primis Financial Corp. Receives Nasdaq Notice Regarding Delayed 10-Q Filing
MCLEAN, Va. , Nov. 27, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company") announced today that, as expected, it received a notice (the "Additional Notice") from Nasdaq indicating that the Company remains noncompliant with Nasdaq Listing...
Primis Financial Corp. (FRST) Q3 2024 Earnings Call Transcript
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MCLEAN, Va. , Oct. 24, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company") today announced it received a notice from Nasdaq indicating that the temporary stay of delisting of the Company's common stock has been extended...
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MCLEAN, Va. , Aug. 12, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today provided an update on its consultation process with the Office of the Chief Accountant...
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