Primis Financial Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:30 pm EDT
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Primis Financial Corp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 27.13 million compared to USD 27.42 million a year ago. Net income was USD 7.58 million compared to USD 5.03 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.2 a year ago.
For the nine months, net interest income was USD 81.65 million compared to USD 74.82 million a year ago. Net income was USD 13.35 million compared to USD 14.51 million a year ago. Basic earnings per share from continuing operations was USD 0.54 compared to USD 0.6 a year ago. Diluted earnings per share from continuing operations was USD 0.54 compared to USD 0.59 a year ago.
Primis Financial Corp. is a bank holding company for Primis Bank (the Bank). The Bank is a state-chartered bank. The Bank provides a range of financial services to individuals and small and medium-sized businesses through approximately 32 full-service branches in Virginia and Maryland. The Company operates through two segments: Primis Mortgage and Primis Bank. The Primis Bank segment specializes in providing financing services to businesses in various industries and deposit-related services to businesses, consumers and other customers. The Primis Mortgage segment specializes in originating mortgages in a majority of the United States. The Company earns non-interest income and the origination and sale of mortgage loans through the Primis Mortgage segment. The Company offers a range of deposit products, including checking, savings, and money market accounts and certificates of deposit, and others.