← Primis Financial Corp.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total interest and dividend income | $48.9m |
$83.6m
+70.74%
|
$118.9m
+42.28%
|
$120.5m
+1.36%
|
$117.8m
-2.28%
|
$113.2m
-3.85%
|
$126.1m
+11.33%
|
$192.6m
+52.78%
|
$211.0m
+9.53%
|
$200.4m
-4.99%
|
— | |
| Loss on sales of investment securities | — | $255k | — | — | ($620k) | — | — | — | — | ($14.8m) | — | |
| Noninterest income: | ||||||||||||
| Other noninterest income | $115k | $1.0m | $541k | $1.0m | $703k | $730k | $1.3m | $1.5m | $1.6m | $948k | — | |
| Total noninterest income | $2.8m | $5.4m | $10.2m | $12.6m | $25.5m | $11.1m | $21.3m | $45.2m | $43.1m | $112.3m | — | |
| Net interest income | $40.3m |
$67.9m
+68.47%
|
$91.1m
+34.08%
|
$83.6m
-8.20%
|
$91.6m
+9.62%
|
$94.2m
+2.80%
|
$104.5m
+10.92%
|
$98.7m
-5.53%
|
$104.2m
+5.58%
|
$111.4m
+6.91%
|
$125.7m
+12.82%
|
|
| Interest Income (Expense), Net | $40.3m |
$67.9m
+68.47%
|
$91.1m
+34.08%
|
$83.6m
-8.20%
|
$91.6m
+9.62%
|
$94.2m
+2.80%
|
$101.7m
+7.96%
|
$98.7m
-2.94%
|
$104.2m
+5.58%
|
$111.4m
+6.91%
|
$214.9m
+92.90%
|
|
| Labor and Related Expense | $11.7m | $20.3m | $27.7m | $26.3m | $36.7m | $36.7m | $49.0m | $58.8m | $66.6m | $79.1m | — | |
| Amortization of Intangible Assets | $219k | $845k | $1.4m | $1.4m | $1.4m | $1.4m | $1.3m | $1.3m | $1.3m | $602k | — | |
| Operating Lease, Expense | — | — | — | — | — | — | — | $600k | $300k | — | — | |
| Noninterest expense: | ||||||||||||
| Other operating expenses | $3.0m | $6.0m | $7.2m | $10.2m | $8.0m | $9.6m | $10.4m | $8.2m | $10.9m | $10.9m | — | |
| Total noninterest expenses | $22.8m | $49.1m | $53.8m | $56.6m | $67.7m | $71.4m | $92.3m | $122.6m | $125.6m | $138.9m | — | |
| Interest expense: | ||||||||||||
| Total interest expense | $8.6m | $15.7m | $27.8m | $36.9m | $26.1m | $19.0m | $21.6m | $93.9m | $106.7m | $89.0m | — | |
| Interest income: | ||||||||||||
| Interest Income, Operating | — | — | — | — | — | — | — | — | $211.0m | $200.4m | $214.9m | |
| Net interest income after provision for credit losses | $35.4m |
$59.3m
+67.48%
|
$86.9m
+46.51%
|
$83.2m
-4.16%
|
$72.2m
-13.29%
|
$100.0m
+38.53%
|
$93.2m
-6.79%
|
$66.2m
-29.01%
|
$53.6m
-19.00%
|
$99.1m
+84.96%
|
$125.7m
+26.80%
|
|
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $15.4m | $15.6m | $43.3m | $39.2m | $29.9m | $39.7m | $17.3m | ($11.2m) | ($28.9m) | $72.6m | $67.5m | |
| Virginia franchise tax expense | $387k | $969k | $1.8m | $2.3m | $2.5m | $2.9m | $3.3m | $3.4m | $2.5m | $2.3m | — | |
| Current Income Tax Expense (Benefit) | $5.1m | $3.5m | $6.5m | $4.7m | $8.2m | $2.7m | $6.5m | $2.6m | $30k | $8.2m | $14.3m | |
| Income tax expense related to other comprehensive income | ($93k) | ($188k) | ($324k) | $897k | $719k | ($669k) | ($7.2m) | $1.2m | $197k | $5.3m | $14.3m | |
| Income Tax Expense (Benefit) | $5.1m | $13.1m | $9.6m | $6.1m | $6.6m | $8.7m | $3.2m | ($1.1m) | ($4.2m) | $14.7m | $14.3m | |
| Less: reclassification adjustment for losses on available-for-sale securities included in net income | — | ($255k) | — | — | $620k | — | — | — | — | $14.7m | — | |
| Net Income (Loss) Attributable to Parent | $10.3m |
$2.4m
-76.48%
|
$33.7m
+1289.32%
|
$33.2m
-1.56%
|
$23.3m
-29.79%
|
$31.2m
+34.19%
|
$14.1m
-54.72%
|
($7.8m)
-155.36%
|
($16.2m)
-106.91%
|
$61.4m
+479.16%
|
$53.1m
-13.57%
|
|
| Net loss attributable to noncontrolling interests | — | — | — | — | — | — | — | $2.3m | $8.5m | $3.6m | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | ($2.3m) | ($8.5m) | ($3.6m) | $53.1m | |
| Income (Loss) from Continuing Operations, Per Basic Share | $0.84 | $0.13 | $1.40 | $1.38 | $0.96 | $1 | $1 | ($0) | ($1) | $2.49 | — | |
| Income (Loss) from Continuing Operations, Per Diluted Share | $0.83 | $0.13 | $1.39 | $1.36 | $0.96 | $1 | $1 | ($0) | ($1) | $2.49 | — | |
| Earnings Per Share, Basic | $0.84 | $0.13 | $1.40 | $1.38 | $0.96 | $1 | $0.58 | ($0.32) | ($0.66) | $2.49 | $2.16 | |
| Earnings Per Share, Diluted | $0.83 | $0.13 | $1.39 | $1.36 | $0.96 | $1 | $0.57 | ($0.32) | ($0.66) | $2.49 | $2.16 | |
| Weighted Average Number of Shares Outstanding, Basic | 12k | 18.4m | 24.0m | 24.1m | 24.2m | 24.4m | 24.6m | 24.6m | 24.7m | 24.7m | 24.7m | |
| Weighted Average Number of Shares Outstanding, Diluted | 12k | 18.7m | 24.3m | 24.3m | 24.4m | 24.6m | 24.7m | 24.6m | 24.7m | 24.7m | 24.7m | |
| Additional Financial Items | ||||||||||||
| Other Interest and Dividend Income | $644k | $1.2m | $2.3m | $2.1m | $1.4m | $1.8m | $2.2m | $13.5m | $3.8m | $4.0m | — | |
| Bank Owned Life Insurance Income | $700k | $929k | $2.0m | $1.7m | $1.6m | $1.7m | $2.0m | $2.0m | $2.4m | $1.8m | — | |
| Equipment Expense | $975k | $2.2m | $2.8m | $2.7m | $2.7m | $3.6m | $5.2m | $6.4m | $7.3m | $7.5m | — | |
| Business Combination, Acquisition Related Costs | — | $9.4m | — | — | — | — | $400k | — | — | — | — | |
| Depreciation, Depletion and Amortization, Nonproduction | — | — | — | $2.3m | $2.0m | $2.4m | $2.5m | $2.4m | $2.2m | $2.0m | $1.2m | |
| Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal | — | — | $4.2m | $350k | $19.4m | ($5.8m) | $11.3m | $32.5m | $50.6m | $12.3m | — | |
| Goodwill, Impairment Loss | — | — | — | — | $0 | $0 | $0 | $11.2m | — | — | $0 | |
| Other Cost and Expense, Operating | — | — | — | — | — | — | — | — | $48.5m | $49.2m | — | |
| Interest and fees on loans | $45.3m | $77.8m | $110.2m | $112.2m | $111.6m | $107.0m | $117.9m | $172.8m | $199.9m | $188.9m | — | |
| Interest and dividends on taxable securities | $3 | $4 | $6 | $6 | $4 | $4 | $6 | $6 | $7 | $7 | — | |
| Interest and dividends on tax exempt securities | $0 | $0 | $1 | $1 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Interest and dividends on other earning assets | $1 | $1 | $2 | $2 | $1 | $2 | $2 | $13 | $4 | $4 | — | |
| Interest on deposits | $8.1m | $11.0m | $18.2m | $30.6m | $20.3m | $13.1m | $13.3m | $83.7m | $95.7m | $79.4m | — | |
| Interest on other borrowings | — | $2.2m | $6.1m | $2.8m | $952k | $360k | $8.3m | $10.2m | $11.1m | $9.6m | — | |
| Provision for credit losses | — | — | $4.2m | $350k | $19.4m | ($5.8m) | $11.3m | $32.5m | $50.6m | $12.3m | — | |
| Account maintenance and deposit service fees | $896k | $3.6m | $6.0m | $7.2m | $6.5m | $7.3m | $5.7m | $5.7m | $5.8m | $5.7m | — | |
| Income from bank-owned life insurance | $700k | $929k | $2.0m | $1.7m | $1.6m | $1.7m | $2.0m | $2.0m | $2.4m | $1.8m | — | |
| Mortgage banking income | — | — | — | — | — | — | $5.1m | $17.6m | $23.9m | $32.4m | — | |
| Gains on sale of loans | — | — | — | — | — | — | — | $583k | $303k | $1.9m | — | |
| Gains on other investments | — | — | — | — | — | — | $4.1m | $184k | $408k | $159k | — | |
| Consumer Program derivative income | — | — | — | — | — | $3k | $65k | $18.1m | $4.3m | $1.3m | — | |
| Salaries and benefits | $11.7m | $20.3m | $27.7m | $26.3m | $36.7m | $36.7m | $49.0m | $58.8m | $66.6m | $79.1m | — | |
| Occupancy expenses | $3.2m | $4.8m | $6.6m | $6.2m | $6.1m | $6.0m | $5.6m | $6.2m | $5.4m | $6.9m | — | |
| FDIC insurance assessment | $543k | $802k | $1.1m | — | — | $804k | $890k | $2.9m | $2.5m | $3.7m | — | |
| Data processing expense | $744k | $1.1m | $1.9m | $2.4m | $3.2m | $3.9m | $6.0m | $9.5m | $10.6m | $10.7m | — | |
| Marketing expense | — | — | — | — | $1.8m | $1.7m | $3.1m | $1.8m | $1.9m | $2.2m | — | |
| Telephone and communication expense | $745k | $1.4m | $2.0m | $1.6m | $1.5m | $1.8m | $1.4m | $1.5m | $1.3m | $1.3m | — | |
| Loss (gain) on bank premises and equipment and assets held for sale | — | — | — | — | — | — | $684k | $476k | ($463k) | ($191k) | — | |
| Professional fees | — | $1.8m | $1.6m | $3.6m | $4.7m | $5.5m | $4.8m | $4.6m | $10.4m | $10.9m | — | |
| Goodwill impairment | — | — | — | — | — | $0 | $0 | $11.2m | — | — | $0 | |
| Fraud losses | — | — | — | — | — | $75k | $108k | $3.3m | $2.0m | $232k | — | |
| Miscellaneous lending expenses | — | — | — | — | — | $1.1m | $1.7m | $3.0m | $3.3m | $2.6m | — | |
| Unrealized gain on available-for-sale securities | ($284k) | ($309k) | ($1.5m) | $4.3m | $2.8m | ($3.2m) | ($34.1m) | $5.2m | $742k | $9.2m | — | |
| Other comprehensive income, before tax | ($272k) | ($551k) | ($1.5m) | $4.3m | $3.4m | ($3.0m) | ($34.1m) | $5.2m | $742k | $23.9m | — | |
| Other comprehensive income, net of tax | ($179k) | ($363k) | ($1.2m) | $3.4m | $2.7m | ($2.4m) | ($27.0m) | $4.1m | $545k | $18.6m | — | |
| Comprehensive income (loss) | $10.1m | $2.1m | $32.5m | $36.5m | $26.0m | $28.9m | ($9.2m) | ($3.8m) | ($15.7m) | $80.0m | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $10.3m | $2.4m | — | — | — | — | — | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $31.0m | $14.1m | ($10.1m) | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $230k | — | — | — | — | — |