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Jun 30, 2024
Primis Q2 2024 Earnings Report
Primis reported preliminary earnings for Q2 2024 and declared a quarterly cash dividend of $0.10 per share.
Key Takeaways
Primis Financial Corp. reported preliminary results for the second quarter of 2024. Pre-tax income included pre-tax losses attributable to PFH and expenses related to accounting advisory and other projects. The Board of Directors declared a dividend of $0.10 per share.
Preliminary results for the second quarter of 2024 were reported.
A consultation process with the SEC is ongoing regarding the accounting for a consumer loan portfolio.
The Board of Directors declared a dividend of $0.10 per share.
As of June 30, 2024, Primis had $4.0 billion in total assets.
Forward Guidance
The press release contains forward-looking statements regarding future operating and financial performance, growth initiatives, net interest margin, expense management, capital management, future profitability, and credit quality. These statements are subject to risks and uncertainties.
Positive Outlook
- Expectations regarding future operating and financial performance.
- Outlook and long-term goals for future growth and new offerings and services.
- Expectations regarding net interest margin.
- Expectations on growth strategy, expense management, capital management and future profitability.
- Expectations on credit quality and performance.
Challenges Ahead
- The result of the “pre-clearance” process with the Office of the Chief Accountant of the SEC and the impact on the Company’s financial statements.
- The Company’s ability to implement its various strategic and growth initiatives.
- Competitive pressures among financial institutions increasing significantly.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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