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 |
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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
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.
- 1ONLINE SAVINGSBank-$50,000N.A.4.35%31.99x (National Avg. - 0.14%)$1-SCENARIO
Year Rate
4.35%Annual
InterestAnnual 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 - 2LOCAL SAVINGSOnline Bank-$50,000N.A.3.60%26.47x (National Avg. - 0.14%)$0-SCENARIO
Year Rate
3.60%Annual
InterestAnnual 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
TedY
February 21, 2023 |
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.