Primis Financial Corp. (FRST) Income Statement Analysis

See more : Capri Global Capital Limited (CGCL.BO) Income Statement Analysis – Financial Results

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)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.primisbank.com

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

Wall Street Analysts Predict a 25.4% Upside in Primis Financial (FRST): Here's What You Should Know

February 12, 2024zacks.com

The average of price targets set by Wall Street analysts indicates a potential upside of 25.4% in Primis Financial (FRST). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into...

Recent Price Trend in Primis Financial (FRST) is Your Friend, Here's Why

February 2, 2024zacks.com

If you are looking for stocks that are well positioned to maintain their recent uptrend, Primis Financial (FRST) could be a great choice. It is one of the several stocks that passed through our "Recent Price Strength" screen.

Primis Financial Corp. (FRST) Q4 2023 Earnings Call Transcript

January 26, 2024seekingalpha.com

Primis Financial Corp. (FRST) Q4 2023 Earnings Call Transcript

Primis Financial (FRST) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

January 25, 2024zacks.com

While the top- and bottom-line numbers for Primis Financial (FRST) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street...

Primis Financial (FRST) Surpasses Q4 Earnings and Revenue Estimates

January 25, 2024zacks.com

Primis Financial (FRST) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.03 per share a year ago.

Primis Financial Corp. Reports Earnings per Share for the Fourth Quarter of 2023

January 25, 2024prnewswire.com

Announces Investment in Panacea Financial Holdings, Inc. Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , Jan. 25, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"),...