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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Cash and cash equivalents:    
Cash and due from financial institutions $ 7,972 $ 8,059
Interest-bearing deposits in other financial institutions 49,072 56,446
Total cash and cash equivalents 57,044 64,505
Securities available-for-sale, at fair value (amortized cost of $263,795 and $262,632, respectively) 241,638 235,903
Securities held-to-maturity, at amortized cost (fair value of $8,445 and $8,602, respectively) 9,153 9,448
Loans held for sale, at fair value 74,439 83,276
Loans held for sale, at lower of cost or market 0 163,832
Total loans held for sale 74,439 247,108
Loans held for investment, collateralizing secured borrowings 16,811 17,287
Loans held for investment 3,026,537 2,870,160
Less: allowance for credit losses (44,021) (53,724)
Net loans 2,999,327 2,833,723
Stock in Federal Reserve Bank (FRB) and Federal Home Loan Bank (FHLB) 12,983 13,037
Bank premises and equipment, net 19,210 19,432
Assets held for sale 2,420 5,497
Operating lease right-of-use assets 10,352 10,279
Cloud computing arrangement assets, net 7,485 8,065
Goodwill 93,459 93,459
Intangible assets, net 345 665
Bank-owned life insurance 67,609 67,184
Deferred tax assets, net 21,399 26,466
Consumer Program derivative asset 1,597 4,511
Investment in Panacea Financial Holdings, Inc. common stock 21,227 0
Other assets 57,623 50,833
Total assets 3,697,310 3,690,115
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing demand deposits 455,768 438,917
Interest-bearing deposits:    
NOW accounts 819,606 817,715
Money market accounts 785,552 798,506
Savings accounts 777,736 775,719
Time deposits 330,210 340,178
Total interest-bearing deposits 2,713,104 2,732,118
Total deposits 3,168,872 3,171,035
Securities sold under agreements to repurchase 4,019 3,918
Secured borrowings 16,729 17,195
Junior subordinated debt 9,892 9,880
Senior subordinated notes 86,057 85,998
Operating lease liabilities 11,639 11,566
Other liabilities 24,539 25,541
Total liabilities 3,321,747 3,325,133
Commitments and contingencies (See Note 15)
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; 24,722,734 and 24,722,734 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 247 247
Additional paid in capital 314,725 314,694
Retained earnings 78,211 58,047
Accumulated other comprehensive loss (17,620) (21,232)
Total Primis stockholders' equity 375,563 351,756
Noncontrolling interests 0 13,226
Total stockholders' equity 375,563 364,982
Total liabilities and stockholders' equity $ 3,697,310 $ 3,690,115