Primis Bank

Headquarters

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

Notable Rates APY Vs.Others
Savings N.A. 0.65% →
1-Year CD N.A. 0.67% →
2-Year CD N.A. 0.75% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Primis Bank is an FDIC insured institution located in Tappahannock, VA. It was founded in 2005 and has approximately $3.09 billion in assets. Customers can open an account at one of its 50 branches.

FDIC Insured Yes
FDIC Certificate # 57968
Date Established 2005
Assets $ 3.09 billion
Loans $ 2.40 billion
Deposits $ 2.49 billion
Capital $ 445.81 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 - May 6, 2021

Your Current Location: Connecticut, CT 06828

 

Loan Rates - May 6, 2021

Your Current Location: Connecticut, CT 06828

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 - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Morty, Inc.
NMLS ID: 1429243
2.581% 2.500%
0.63 points
$2,668 fees
$988 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.677% 2.625%
0.63 points
$1,708 fees
$1,005 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

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
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Primis Bank
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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:
Fairfield,Connecticut


Primis Bank Locations


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
3.64% 5.49%

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 December 31, 2020, Primis Bank had $14,462,000 in non-current loans and $3,078,000 in owned real estate. To cover these potential losses it had $445,806,000 in equity and $36,345,000 in loans loss reserves. That gives it a Texas Ratio of 3.64%.

Return on Equity
Primis Bank U.S. Bank Average
6.33% 9.24%

Primis Bank has a Return on Equity of 6.33% versus the BestCashCow average of 9.24%. 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
14.43% 11.96%

Primis Bank has a Capitalization of 14.43% versus the BestCashCow average of 11.96. 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 December 31, 2020, Primis Bank had assets of $3,090,131,000, loans of $2,404,151,000, and deposits of $2,493,769,000. 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

December 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 198.03 million
Interest-bearing balances $ 176.63 million
Total securities $ 193.95 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.40 billion
Loan loss allowance $ 36.35 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.08 million
Goodwill and other intangibles $ 107.78 million
All other assets $ 145.32 million
     Total Assets $ 2.64 billion
LIABILITIES
Total deposits $ 2.49 billion
      Interest-bearing deposits $ 1,969.00 million
      Deposits held in domestic offices $ 2.49 billion
      % insured (estimated) 61.62%
Federal funds purchased and repurchase agreements $ 16.07 million
Trading liabilities N.A.
Other borrowed funds $ 100.00 million
Subordinated debt N.A.
All other liabilities $ 34.49 million
      Total Liabilities $ 2.64 billion
      Shareholders’ Equity $ 445.81 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 117.78 million
Total Interest Expense $ 21.80 million
Net interest income $ 95.98 million
Provision for loan and lease losses $ 19.45 million
Total non interest income $ 24.49 million
Total non interest expense $ 65.94 million
Pre-tax Net Operating Income $ 35.08 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 in Virginia, Primis Bank has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

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 27.05
Multifamily
Mortgages
4.46
Credit Card Loans 0.01
Consumer Auto Loans 0.05
Small Business Loans 6.14
Construction and Development Loans 4.30
Commercial Real Estate 43.26
Commercial and Industrial Loans 19.03
Farm Loans 0.23

Frequently Asked Questions About Primis Bank

Branches and Savings

Is Primis Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57968.

Why does Primis Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Primis Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Primis Bank a commercial bank?

Yes

Where are Primis Bank locations?

See branch locations nearby.

Is Primis Bank open on Saturdays?

Is Primis Bank open on Sundays?

What time does Primis Bank open?

What time does Primis Bank close?

Are Primis Bank ATMs Open 24/7?

Do Primis Bank ATMs accept cash deposits?

Can Primis Bank customers use other ATMs?

Do Primis Bank branches have notaries?

Will Primis Bank notarize my document?

What address for Primis Bank should I put for incoming ACH transfers?

Will the Primis Bank branch print checks?

Do Primis Bank checks expire?

Does Primis Bank require US citizenship to open account?

Can Primis Bank close my account?

Does Primis Bank Report to credit bureaus?

Does Primis Bank Use Equifax?

What is Primis Bank's ACH Routing Number?

What is Primis Bank's SWIFT code?

Products

Does Primis Bank offer mortgages?

Compare mortgage rates here.

Does Primis Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Primis Bank offer personal loans?

Compare personal loan rates here.

Does Primis Bank offer student loans?

Will Primis Bank cash a check?

Will Primis Bank redeem a savings bond?

Does Primis Bank cash savings bonds?

Will Primis Bank cash money orders?

Can Primis Bank issue a money order?

Does Primis Bank do currency exchange?

Background on The Bank

Who owns Primis Bank?

How long has Primis Bank been around?

Can Primis Bank transfer to other banks?

Does Primis Bank have quick pay?

Does Primis Bank accept rolled coins?

Will Primis Bank accept loose change?

Where is Primis Bank headquarters?

Customer Reviews for Primis 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.

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