Banks | Primis Bank

Primis Bank


Primis Bank is an FDIC insured institution headquartered at 307 N Church Ln, Tappahannock, VA 22560.
It was founded in 2005 and has approximately $3 billion in assets. Customers can open an account at one of its 50 branches.

Deposit Rates - March 25, 2023

SAVINGS RATES APY MIN
SAV
4.35% $1 Compare

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 57968
Date Established 2005
Assets $ 3.23 billion
Loans $ 2.72 billion
Deposits $ 2.72 billion
Capital $ 469.50 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 100.32 million
Interest-bearing balances $ 83.34 million
Total securities $ 253.28 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.72 billion
Loan loss allowance $ 31.96 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.04 million
Goodwill and other intangibles $ 108.15 million
All other assets $ 132.18 million
     Total Assets $ 2.88 billion

LIABILITIES
Total deposits $ 2.72 billion
      Interest-bearing deposits $ 2.21 billion
      Deposits held in domestic offices $ 2.72 billion
      % insured (estimated) 60.82%
Federal funds purchased and repurchase agreements $ 9.89 million
Trading liabilities N.A.
Other borrowed funds $ 25.00 million
Subordinated debt N.A.
All other liabilities $ 23.72 millionn
      Total Liabilities $ 2.88 billion
      Shareholders’ Equity $ 350.52 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 87.33 million
Total Interest Expense $ 8.47 million
Net interest income $ 78.86 million
Provision for loan and lease losses $ 3.41 million
Total non interest income $ 9.72 million
Total non interest expense $ 61.63 million
Pre-tax Net Operating Income $ 15.39 million

Customer Reviews for Primis Bank (1)

Rated 1.00 stars out of 5 - based on 1 reviews

  • 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
    Primis Bank
    Bank
    -
    $50,000
    N.A.
    4.35%
    31.99x (National Avg. - 0.14%)
    $1
    -
    SCENARIO
    Year Rate
    4.35%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,175 1,523
    2 52,175 2,270 1,589
    3 54,445 2,368 1,658
    4 56,813 2,471 1,730
    5 59,284 2,579 1,805
    6 61,863 2,691 1,884
    7 64,554 2,808 1,966
    8 67,362 2,930 2,051
    9 70,293 3,058 2,140
    10 73,350 3,191 2,234
    11 76,541 3,330 2,331
    12 79,871 3,474 2,432
    13 83,345 3,626 2,538
    14 86,970 3,783 2,648
    15 90,754 3,948 2,763
    16 94,701 4,120 2,884
    17 98,821 4,299 3,009
    18 103,120 4,486 3,140
    19 107,605 4,681 3,277
    20 112,286 4,884 3,419
    TOTAL $67,171 $47,019
  • 2
    LOCAL SAVINGS
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    N.A.
    3.60%
    26.47x (National Avg. - 0.14%)
    $0
    -
    SCENARIO
    Year Rate
    3.60%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,800 1,260
    2 51,800 1,865 1,305
    3 53,665 1,932 1,352
    4 55,597 2,001 1,401
    5 57,598 2,074 1,451
    6 59,672 2,148 1,504
    7 61,820 2,226 1,558
    8 64,045 2,306 1,614
    9 66,351 2,389 1,672
    10 68,740 2,475 1,732
    11 71,214 2,564 1,795
    12 73,778 2,656 1,859
    13 76,434 2,752 1,926
    14 79,186 2,851 1,995
    15 82,036 2,953 2,067
    16 84,990 3,060 2,142
    17 88,049 3,170 2,219
    18 91,219 3,284 2,299
    19 94,503 3,402 2,381
    20 97,905 3,525 2,467
    TOTAL $51,430 $36,001


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