Welcome to our dedicated page for Primis Financial news (Ticker: FRST), a resource for investors and traders seeking the latest updates and insights on Primis Financial stock.
Primis Financial Corp. (NASDAQ: FRST) is the bank holding company for Primis Bank, providing a comprehensive suite of financial services to individuals and small- to medium-sized businesses. With 24 full-service branches in Virginia and Maryland, Primis Bank caters to a wide range of commercial banking needs, including loans secured by commercial real estate, unsecured commercial loans across various industries, and personal loans for diverse purposes.
The bank also offers a variety of deposit products: checking accounts (NOW), savings accounts, money market accounts, and certificates of deposit. As of September 30, 2023, Primis Financial Corp. boasts $3.8 billion in total assets, $3.1 billion in total loans, and $3.3 billion in total deposits.
Recently, the company announced a new stock repurchase program, allowing the repurchase of up to 740,600 shares of its common stock by December 21, 2024. Financial performance is strong, with a reported net income of $8.1 million for Q4 2023, showing a significant increase from the previous year. Furthermore, Primis is actively pursuing innovative growth strategies through its Panacea Financial and Life Premium Finance Divisions and a new digital banking platform.
Primis Financial Corp. is also committed to corporate social responsibility, evident in their Panacea Financial Foundation, which aims to increase diversity in the medical field.
The bank's latest earnings report highlights a successful capital raise for Panacea Financial Holdings, Inc. and an ongoing partnership that promises significant future growth. Despite challenges, including a delay in filing its Annual Report on Form 10-K for 2023 and an ongoing pre-clearance process with the SEC, the company remains resilient and poised for continued success.
For more information, visit their official website. Stay updated with the latest news and events by following their regular quarterly earnings calls.
Panacea Financial has announced a partnership with the American Student Dental Association (ASDA) to offer tailored financial services to ASDA's 23,000 dental student members in the U.S. and Puerto Rico. The services include personal loans, checking accounts, and savings accounts specifically designed for the unique needs of dental students. This partnership aims to support dental students through their education and into their professional careers. Panacea Financial, founded by medical professionals, understands the financial challenges faced by dental students, such as high debt and frequent relocations, and aims to provide comprehensive banking solutions. More information is available at the Panacea Financial website.
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