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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Cash and cash equivalents:    
Cash and due from financial institutions $ 5,817 $ 1,863
Interest-bearing deposits in other financial institutions 82,900 75,690
Total cash and cash equivalents 88,717 77,553
Securities available-for-sale, at fair value (amortized cost of $260,415 and $255,891, respectively) 230,617 228,420
Securities held-to-maturity, at amortized cost (fair value of $10,052 and $10,389, respectively) 10,992 11,650
Loans held for sale, at fair value 72,217 57,691
Loans held for investment, collateralizing secured borrowings 21,406 20,505
Loans held for investment 3,206,259 3,198,909
Less: allowance for credit losses (53,456) (52,209)
Net loans 3,174,209 3,167,205
Stock in Federal Reserve Bank (FRB) and Federal Home Loan Bank (FHLB) 14,225 14,246
Bank premises and equipment, net 20,412 20,611
Assets held for sale 6,359 6,735
Operating lease right-of-use assets 10,206 10,646
Cloud computing arrangement assets, net 9,953 10,699
Goodwill 93,459 93,459
Intangible assets, net 1,633 1,958
Bank-owned life insurance 67,685 67,588
Deferred tax assets, net 24,513 22,395
Consumer Program derivative asset 10,685 10,806
Other assets 54,097 54,884
Total assets 3,889,979 3,856,546
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing demand deposits 463,190 472,941
Interest-bearing deposits:    
NOW accounts 771,116 773,028
Money market accounts 834,514 794,530
Savings accounts 823,325 783,758
Time deposits 422,778 445,898
Total interest-bearing deposits 2,851,733 2,797,214
Total deposits 3,314,923 3,270,155
Securities sold under agreements to repurchase 3,038 3,044
Secured borrowings 21,298 20,393
FHLB advances 25,000 30,000
Junior subordinated debt 9,843 9,830
Senior subordinated notes 85,823 85,765
Operating lease liabilities 11,353 11,686
Other liabilities 24,102 28,080
Total liabilities 3,495,380 3,458,953
Commitments and contingencies (See Note 9)
Stockholders' equity:    
Preferred stock, $0.01 par value. Authorized 5,000,000 shares; no shares issued and outstanding
Common stock, $0.01 par value. Authorized 45,000,000 shares; 24,696,672 and 24,693,172 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 247 247
Additional paid in capital 313,812 313,548
Retained earnings 84,133 84,143
Accumulated other comprehensive loss (23,615) (21,777)
Total Primis stockholders' equity 374,577 376,161
Noncontrolling interests 20,022 21,432
Total stockholders' equity 394,599 397,593
Total liabilities and stockholders' equity $ 3,889,979 $ 3,856,546