Primis Financial Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 02:01 am IST
Share
Primis Financial Corp. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 26.16 million compared to USD 24.58 million a year ago. Net loss was USD 0.188 million compared to net income of USD 4.95 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.2 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.2 a year ago.
For the six months, net interest income was USD 54.52 million compared to USD 47.41 million a year ago. Net income was USD 5.77 million compared to USD 9.48 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.39 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.38 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.