Primis Financial Corp. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
January 27, 2022 at 05:04 pm EST
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Primis Financial Corp. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported net interest income was USD 24.24 million compared to USD 25.65 million a year ago. Net income was USD 7.65 million compared to USD 8.96 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.29 a year ago. Basic earnings per share was USD 0.31 compared to USD 0.37 a year ago. Diluted earnings per share was USD 0.31 compared to USD 0.37 a year ago.
For the full year, net interest income was USD 94.2 million compared to USD 91.64 million a year ago. Net income was USD 31.25 million compared to USD 23.29 million a year ago. Basic earnings per share from continuing operations was USD 1.27 compared to USD 0.61 a year ago. Diluted earnings per share from continuing operations was USD 1.26 compared to USD 0.61 a year ago. Basic earnings per share was USD 1.28 compared to USD 0.96 a year ago. Diluted earnings per share was USD 1.27 compared to USD 0.96 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.