Primis Financial (Primis Financial) Credit Losses Provision : $14.3 Mil (As of Sep. 2023)

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What is Primis Financial Credit Losses Provision?

Primis Financial's credit losses provision for the three months ended in Sep. 2023 was $1.6 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Sep. 2023 was $14.3 Mil.

Primis Financial's quarterly credit losses provision declined from Mar. 2023 ($5.2 Mil) to Jun. 2023 ($4.3 Mil) and declined from Jun. 2023 ($4.3 Mil) to Sep. 2023 ($1.6 Mil).

Primis Financial's annual credit losses provision declined from Dec. 2020 ($19.5 Mil) to Dec. 2021 ($-5.8 Mil) but then increased from Dec. 2021 ($-5.8 Mil) to Dec. 2022 ($11.3 Mil).

Primis Financial Credit Losses Provision Historical Data

The historical data trend for Primis Financial's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Primis Financial Credit Losses Provision Chart

Primis Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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-1.19

19.45

-5.80

11.27

14.37

Primis Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															7.86	5.19	4.30	1.65	3.14

Primis Financial Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $14.3 Mil.

Primis Financial (Primis Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Primis Financial Corp (NAS:FRST) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

7H80:Germany

Address

6830 Old Dominion Drive, McLean, VA, USA, 22101

Website

https://www.primisbank.com

Primis Financial Corp is the bank holding company for Primis Bank, providing financial services to individuals and small and medium-sized businesses. Primis Bank offers a wide range of commercial banking services, it focuses on making loans secured majorly by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in a number of industries, as well as loans to individuals for a variety of purposes. Primis Bank offers a broad range of deposit products, including checking (NOW), savings, money market accounts and certificates of deposit.

Executives

Rickey Allen Fulk	officer: EVP, President	1194 ELSOM MASCOT ROAD, MATTAPONI VA 23110
Charles A Kabbash	director	308 EAST MARKET ST., CHARLOTTESVILLE VA 22902
Clinton Tyler Stafford	officer: Pres Panacea Financial	4612 CLUB ROAD, LITTLE ROCK AR 72207
Susan B Williamson	officer: EVP, Director of Reg Relations	32482 JENKINS MILL ROAD, FRANKLIN VA 23851
William Rand Cook	director	4459 CROWN HILL ROAD, MECHANICSVILLE VA 23111
Robert Yates Clagett	director	17017 RIVER AIRPORT ROAD, BRANDYWINE MD 20613
Eric Alan Johnson	director	P O BOX 517, URBANNA VA 23175
Matthew Alan Switzer	officer: EVP, CFO	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Jones Allen R Jr.	director	304 MARCELLA ROAD, SUITE E, HAMPTON VA 23666
Garrett F L Iii	director	268 CATHCHPENNY LANE, BOWLERS WHARF VA 22560
John Fitzgerald Biagas	director	627 36TH STREET, NEWPORT NEWS VA 23607
Ann-stanton C Gore	officer: EVP, Chief Marketing Officer	1700 WOODLAKE DRIVE, COLUMBIA SC 29206
Barry P Almond	officer: EVP, Head of Retail/Marketing	14319 NICOLAY WAY, MIDLOTHIAN VA 23114
Deborah Diaz	director	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Julia E Fredricks	officer: EVP, Chief Risk Officer	11032 SLENDERLEAF DRIVE, GLEN ALLEN VA 23060