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Jun 30, 2022
Primis Q2 2022 Earnings Report
Net income from continuing operations increased, driven by loan growth and improved asset mix
Key Takeaways
Primis Financial Corp. reported net income from continuing operations of $5.0 million, with earnings per share of $0.20. The company completed the acquisition of SeaTrust Mortgage Company and saw revenue growth outpacing expenses.
Net income from continuing operations was $5.0 million.
Earnings per share from continuing operations were $0.20 on a basic and diluted basis.
Total revenue increased 12.5% to $27.2 million compared to the same quarter last year.
Completed the acquisition of SeaTrust Mortgage Company.
Forward Guidance
The Company expects loan growth will continue at a similar pace as the first half of 2022 for the rest of the year and could reduce the operating efficiency to below 63% by year end.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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