Primis Bank


Primis Bank is an FDIC insured institution headquartered at 307 N Church Ln, Tappahannock, VA 22560.
It was founded in 0000 and has approximately $4 billion in assets. Customers can open an account at one of its 50 branches.

Deposit Rates - October 4, 2023

SAVINGS RATES APY MIN

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 57968
Date Established 0000
Assets $ 3.84 billion
Loans $ 3.19 billion
Deposits $ 3.33 billion
Capital $ 467.23 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 102.23 million
Interest-bearing balances $ 86.35 million
Total securities $ 235.47 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.19 billion
Loan loss allowance $ 38.41 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 107.22 million
All other assets $ 132.18 million
     Total Assets $ 3.37 billion

LIABILITIES
Total deposits $ 3.33 billion
      Interest-bearing deposits $ 2.93 billion
      Deposits held in domestic offices $ 3.33 billion
      % insured (estimated) 65.43%
Federal funds purchased and repurchase agreements $ 3.92 million
Trading liabilities N.A.
Other borrowed funds $ 25.00 million
Subordinated debt N.A.
All other liabilities $ 23.72 millionn
      Total Liabilities $ 3.37 billion
      Shareholders’ Equity $ 467.23 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 99.67 million
Total Interest Expense $ 41.92 million
Net interest income $ 57.74 million
Provision for loan and lease losses $ 9.49 million
Total non interest income $ 20.02 million
Total non interest expense $ 57.30 million
Pre-tax Net Operating Income $ 15.39 million

Customer Reviews for Primis Bank (2)

Rated 1.00 stars out of 5 - based on 2 reviews
  • Primis's online savings account is a half-baked product that isn't ready for market. They brought this live and expect their customers to be these beta testers. I'd choose something else.

  • A bank that lowers its rate a week after launching in an environment where every bank is raising cannot be trusted, ever. Customer service sucks as well. Stay far away.


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Branches

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Primis Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    ONLINE SAVINGS
    Bank
    -
    $50,000
    N.A.
    5.07%
    30.36x (National Avg. - 0.17%)
    $1
    -
    SCENARIO
    Year Rate
    5.07%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,535 1,775
    2 52,535 2,664 1,864
    3 55,199 2,799 1,959
    4 57,997 2,940 2,058
    5 60,938 3,090 2,163
    6 64,027 3,246 2,272
    7 67,273 3,411 2,388
    8 70,684 3,584 2,509
    9 74,268 3,765 2,636
    10 78,033 3,956 2,769
    11 81,989 4,157 2,910
    12 86,146 4,368 3,057
    13 90,514 4,589 3,212
    14 95,103 4,822 3,375
    15 99,925 5,066 3,546
    16 104,991 5,323 3,726
    17 110,314 5,593 3,915
    18 115,907 5,876 4,114
    19 121,783 6,174 4,322
    20 127,958 6,487 4,541
    TOTAL $84,445 $59,111
  • 2
    LOCAL SAVINGS
    Online Bank
    -
    $50,000
    N.A.
    4.30%
    25.75x (National Avg. - 0.17%)
    $0
    -
    SCENARIO
    Year Rate
    4.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237