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Primis Financial Corp. Company profile

About Primis Financial Corp

Primis Financial Corp., formerly Southern National Bancorp of Virginia, Inc., is a holding company for Primis Bank. Primis Bank is a state-chartered bank. Primis Bank provides a range of financial services to individuals and small- and medium-sized businesses through approximately forty-two full-service branches in Virginia and Maryland and through certain Internet and mobile applications. Primis Bank offers both personal and business banking solutions. Its personal banking services include free checking with no fees and free automated teller machine use, online banking and loans. Its business banking services include business checking, savings, cards and business loans to meet the customers business needs. Primis Bank's personal loans include auto loans, boat loans, home equity line of credit and mortgage. Its business loans include business term loans, equipment and vehicle loans, commercial real estate loans, small business loans, secured asset based lending and letters of credit.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Primis Financial Corp interest income decreased 4% to $113.2M. Net interest income after loan loss provision increased 39% to $100M. Net income before extraordinary items increased from $14.9M to $31M. Net interest income after loan loss provision reflects Single segment increase of 39% to $100M. Net income benefited from Single segment income increase of 34% to $31.2M. Dividend per share remained flat at $0.40.