STOCK TITAN

Primis Financial Corp. - FRST STOCK NEWS

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.

Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) announced a quarterly cash dividend of $0.10 per share and reported a net income of $3.1 million for Q4 2022, a decrease from $5.1 million in Q3 2022 and $7.7 million in Q4 2021. Earnings per share (EPS) were $0.13 basic and $0.12 diluted, down from $0.21 and $0.20 in Q3 2022, and $0.31 in Q4 2021. For the full year 2022, net income was $17.7 million, down from $31 million in 2021, with EPS also declining to $0.72 from $1.28. Despite challenges, the management emphasized ongoing restructuring and growth initiatives aimed at enhancing profitability in 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.4%
Tags
-
Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) announced that it will release its fourth quarter 2022 results on January 26, 2023, after market close. Following this, a conference call and audio webcast for analysts and investors will take place on January 27, 2023, at 10:00 a.m. ET. Participants can access the call through a toll-free number, with a replay available for seven days. As of September 30, 2022, Primis had $3.36 billion in total assets, $2.74 billion in loans, and $2.71 billion in deposits, operating primarily in Virginia and Maryland.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.66%
Tags
-
Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) reported a net income of $5.1 million for Q3 2022, slightly up from $5.0 million in Q2 2022 but down from $6.2 million in Q3 2021. EPS increased to $0.21 basic. Net interest income climbed 18.3% to $27.5 million, while total revenue rose 29.4% to $33.0 million. Deposits grew 3.8% annualized. The company also announced a $0.10 cash dividend and launched a stock repurchase program for 739,500 shares. Despite some credit quality concerns, management is optimistic about profitability growth.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.73%
Tags
Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) has announced the release date for its third quarter 2022 financial results, which will be available after market close on October 27, 2022. The Company will follow this with an earnings call and audio webcast for analysts and investors on October 28, 2022, at 10:00 a.m. ET. As of June 30, 2022, Primis held $3.24 billion in total assets and $2.63 billion in total loans. The earnings call can be accessed via the provided web link or by dialing in with specified participant numbers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.33%
Tags
-
Rhea-AI Summary

On September 15, 2022, Panacea Financial announced a partnership with the Pennsylvania Dental Association (PDA) to offer its PRN Personal Loans to PDA's ~5,200 dentist members. CEO Tyler Stafford highlighted the accessibility of funding for dentists in training and practice. Panacea, which serves the financial needs of healthcare professionals, aims to alleviate financial stress with tailored loan products. Both organizations expressed commitment to supporting the dental community in Pennsylvania, reinforcing Panacea's mission to provide specialized banking solutions for healthcare providers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.16%
Tags
partnership
-
Rhea-AI Summary

Panacea Financial has partnered with the American Academy of Periodontology (AAP), representing over 7,500 periodontists, to offer tailored financial services. This collaboration aims to provide doctor-centric banking solutions addressing the unique needs of periodontists across the nation. Panacea's offerings, including personal and practice loans, are designed specifically for healthcare professionals throughout their careers. AAP President Christopher R. Richardson emphasized the significance of this partnership in enhancing services beyond periodontology.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.13%
Tags
partnership
Rhea-AI Summary

Panacea Financial has partnered with the Georgia Dental Association (GDA) to provide exclusive dental-specific student loan refinancing options for its members. This collaboration aims to help dental professionals manage educational debt, which averages over $300,000 for new dentists. Panacea's tailored financial services are designed to cater specifically to the unique needs of dentists, veterinarians, and physicians throughout their careers. The initiative underscores Panacea’s commitment to easing the financial burdens of dental professionals in Georgia.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
Tags
partnership
-
Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) reported a net income of $5.0 million for Q2 2022, up from $4.6 million in Q1 2022. EPS rose to $0.20, compared to $0.19 in the previous quarter. The company completed its acquisition of SeaTrust Mortgage Company, now known as Primis Mortgage. Total revenue increased by 12.5% to $27.2 million, while non-interest expenses rose by 18.8% to $20.4 million. The Board announced a quarterly cash dividend of $0.10 per share. Notably, the return on average assets improved to 0.63%. Primis aims for continued growth in the second half of 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.65%
Tags
-
Rhea-AI Summary

Primis Financial Corp. (NASDAQ: FRST) will release its second quarter 2022 results after market hours on July 28, 2022. An earnings call will follow on July 29, 2022, at 10:00 a.m. ET, available via audio webcast. As of March 31, 2022, Primis holds $3.22 billion in total assets, with $2.39 billion in total loans and $2.69 billion in total deposits. This financial strength supports various services offered to individuals and businesses across Virginia and Maryland through its 40 branches and digital platforms.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.31%
Tags
Rhea-AI Summary

Panacea Financial has partnered with the Pacific Coast Society of Orthodontists (PCSO) to offer specialized banking and lending services tailored for orthodontists. This collaboration aims to address the unique financial needs of PCSO’s over 3,000 members at various stages of their careers, from education to practice ownership. Panacea, which operates in all 50 states, provides a comprehensive suite of financial products including personal loans and student loan refinancing. The partnership highlights Panacea's commitment to support medical professionals with accessible financial solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.45%
Tags
partnership

FAQ

What is the current stock price of Primis Financial (FRST)?

The current stock price of Primis Financial (FRST) is $12.13 as of November 14, 2024.

What is the market cap of Primis Financial (FRST)?

The market cap of Primis Financial (FRST) is approximately 299.6M.

What services does Primis Bank offer?

Primis Bank provides a range of financial services including loans secured by commercial real estate, unsecured commercial loans, personal loans, checking and savings accounts, money market accounts, and certificates of deposit.

What is the latest news about Primis Financial Corp.?

The latest news includes the approval of a new stock repurchase program for up to 740,600 shares of common stock by December 21, 2024.

What are Primis Financial Corp.'s recent financial results?

Primis reported a net income of $8.1 million for Q4 2023, a significant increase from the previous year. Total assets as of September 30, 2023, were $3.8 billion.

What is the Panacea Financial Division?

The Panacea Financial Division provides specialized financial services for healthcare professionals and recently completed a successful $24.5 million Series B financing round.

Where does Primis Bank operate?

Primis Bank operates 24 full-service branches in Virginia and Maryland and offers services through online and mobile applications.

How can I participate in Primis's earnings calls?

You can participate by dialing the provided toll-free number or visiting the webcast link available on their official website.

What is V1BE?

V1BE is Primis Bank’s proprietary invitation-only delivery tool aimed at improving customer convenience and growth in deposit accounts.

What recent challenges has Primis Financial Corp. faced?

Primis is currently addressing a delay in filing its Annual Report on Form 10-K for 2023 and is undergoing a pre-clearance process with the SEC.

What corporate social responsibility initiatives does Primis support?

The Panacea Financial Foundation supports increasing ethnic and racial diversity in the medical field, awarding over $200,000 in scholarships and grants since 2021.

How can I stay updated on Primis Financial Corp.'s latest developments?

Stay updated by following their quarterly earnings calls, visiting their official website, and keeping an eye on financial news platforms.

Primis Financial Corp.

Nasdaq:FRST

FRST Rankings

FRST Stock Data

299.64M
24.72M
3.6%
86.49%
0.31%
Banks - Regional
State Commercial Banks
Link
United States of America
MCLEAN