Noninterest income rose USD 4 million to USD 22.03 million on a USD 5.96 million gain from liquidating an insurance agency investment.
Loans held for investment climbed 6% to USD 3.5 billion, while deposits rose 1% to USD 3.45 billion and mortgage warehouse balances jumped 71% to USD 544 million.
Primis swings to quarterly profit as margins widen
Primis Financial swung to a GAAP quarterly profit, posting USD 9 million in net income, or USD 0.38 per share.
Net interest margin widened 59 basis points to 3.45%, lifting net interest income by USD 8.58 million versus the year-earlier quarter.
Provision for credit losses fell USD 2.85 million, reflecting improved Consumer Program delinquencies and a shift toward loan categories with lower reserve needs.
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