Primis Bank

Headquarters

307 Church Lane
Tappahannock, VA 22560
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.85% →
2-Year CD N.A. 0.87% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.81% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

Primis Bank is an FDIC insured institution located in Tappahannock, VA. It was founded in 2005 and has approximately $3.45 billion in assets. Customers can open an account at one of its 50 branches.

FDIC Insured Yes
FDIC Certificate # 57968
Date Established 2005
Assets $ 3.45 billion
Loans $ 2.28 billion
Deposits $ 2.84 billion
Capital $ 473.01 million
 

For a more detailed analysis of Primis Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - January 24, 2022

Your Current Location: Virginia, VA 20146

 

Loan Rates - January 24, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Primis Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
New American Funding
NMLS ID: 6606

points
fees
Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to Primis Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Primis Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Primis Bank Locations



Climate Initiatives

Primis Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Primis Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Primis Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Primis Bank U.S. Bank Average
3.91% 4.33%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2021, Primis Bank had $18,352,000 in non-current loans and $1,312,000 in owned real estate. To cover these potential losses it had $473,012,000 in equity and $30,386,000 in loans loss reserves. That gives it a Texas Ratio of 3.91%.

Return on Equity
Primis Bank U.S. Bank Average
7.97% 11.13%

Primis Bank has a Return on Equity of 7.97% versus the BestCashCow average of 11.13%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Primis Bank U.S. Bank Average
13.7% 11.79%

Primis Bank has a Capitalization of 13.7% versus the BestCashCow average of 11.79. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Primis Bank Balance Sheet Analysis

As of September 30, 2021, Primis Bank had assets of $3,452,990,000, loans of $2,284,198,000, and deposits of $2,838,201,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2021
ASSETS
Cash & Balances due from depository institutions $ 651.92 million
Interest-bearing balances $ 631.44 million
Total securities $ 233.23 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.28 billion
Loan loss allowance $ 30.39 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.31 million
Goodwill and other intangibles $ 106.76 million
All other assets $ 138.55 million
     Total Assets $ 2.98 billion
LIABILITIES
Total deposits $ 2.84 billion
      Interest-bearing deposits $ 2.19 billion
      Deposits held in domestic offices $ 2.84 billion
      % insured (estimated) 58.69%
Federal funds purchased and repurchase agreements $ 13.35 million
Trading liabilities N.A.
Other borrowed funds $ 100.00 million
Subordinated debt N.A.
All other liabilities $ 28.43 million
      Total Liabilities $ 2.98 billion
      Shareholders’ Equity $ 473.01 million

Summary Income Statement

September 30, 2021
INCOME AND EXPENSES
Total Interest Income $ 84.74 million
Total Interest Expense $ 10.70 million
Net interest income $ 74.04 million
Provision for loan and lease losses N.A.
Total non interest income $ 7.79 million
Total non interest expense $ 51.50 million
Pre-tax Net Operating Income $ 34.82 million

Bank Loan Profile?

The top three loan types in Primis Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Primis Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 26.59
Multifamily
Mortgages
6.71
Credit Card Loans 0.01
Consumer Auto Loans 0.09
Small Business Loans 6.17
Construction and Development Loans 4.81
Commercial Real Estate 46.12
Commercial and Industrial Loans 12.86
Farm Loans 0.21

Customer Reviews for Primis Bank


  • June 10, 2021 |

    Worst bank I have ever felt with in my life. They have unlawfully been holding money of mine for 13 days and counting. They said they are closing my account for no real reason. If you want your money held up so you can’t pay rent or a vehicle lease this is your bank.

  • November 21, 2018 |

    Sonabank acquired a small local bank in our area and since then I have closed all accounts and safety deposit boxes. I have been with the local bank and Sona acquired for 25 years. Unfortunately they hold the mortgage on my home. They stated I had not made payments for more than six months stating I defaulted on the loan. I was able to pull every check that had been sent and cashed by them. To resolve the matter I had to hire an attorney. After proving this issue they started holding my payments and not applying them at all. For the past 18 months Sona has been trying to take my home there tactics are unethical and boarder on criminal.

Add Your Review

Rate it here →