Earnings Call Summary | Primis Financial(FRST.US) Q1 2024 Earnings Conference
Earnings Call Summary | Primis Financial(FRST.US) Q1 2024 Earnings Conference
The following is a summary of the Primis Financial Corp. (FRST) Q1 2024 Earnings Call Transcript:
Financial Performance:
Primis Financial reported Q1 2024 earnings available to common, amounting to $6.3 million or $0.26 per diluted share. Core earnings were $7.2 million or $0.29 per share, which showed a significant increase from $0.23 in the same period last year.
Total assets stood at $3.9 billion as of March 31, displaying growth from the end of December.
Despite a decrease in core net interest income to $27.0 million in Q1, the core provision for credit losses was notably only $1.6 million in Q1.
Business Progress:
The bank reported improvements, including enhancement in pre-tax pre-provision by about $3.2 million compared to a year ago.
Despite consolidating 25% of its bank branch infrastructure, about 95% of the associated deposits were retained.
Primis Financial Corp. expects to achieve about 10% growth in terms of net loan from its life premium finance and loan volumes from Panacea.
The company is aiming to achieve a 1% return on assets (ROA) by the latter half of 2024 and is also considering share buyback opportunities.
More details: Primis Financial IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
The following is a summary of the Primis Financial Corp. (FRST) Q1 2024 Earnings Call Transcript:
以下是Primis Financial Corp.（FRST）2024年第一季度業績電話會議記錄的摘要：
Financial Performance:
財務業績：
Primis Financial reported Q1 2024 earnings available to common, amounting to $6.3 million or $0.26 per diluted share. Core earnings were $7.2 million or $0.29 per share, which showed a significant increase from $0.23 in the same period last year.
Total assets stood at $3.9 billion as of March 31, displaying growth from the end of December.
Despite a decrease in core net interest income to $27.0 million in Q1, the core provision for credit losses was notably only $1.6 million in Q1.
Primis Financial公佈的2024年第一季度普通股收益爲630萬美元，攤薄後每股收益爲0.26美元。核心收益爲720萬美元，合每股收益0.29美元，較去年同期的0.23美元大幅增長。
截至3月31日，總資產爲39億美元，與12月底相比有所增長。
儘管第一季度核心淨利息收入下降至2,700萬美元，但第一季度的核心信貸損失準備金僅爲160萬美元。
Business Progress:
業務進展：
The bank reported improvements, including enhancement in pre-tax pre-provision by about $3.2 million compared to a year ago.
Despite consolidating 25% of its bank branch infrastructure, about 95% of the associated deposits were retained.
Primis Financial Corp. expects to achieve about 10% growth in terms of net loan from its life premium finance and loan volumes from Panacea.
The company is aiming to achieve a 1% return on assets (ROA) by the latter half of 2024 and is also considering share buyback opportunities.
該銀行報告了改善，包括稅前準備金與去年同期相比增加了約320萬美元。
儘管整合了25％的銀行分行基礎設施，但仍保留了約95％的相關存款。
Primis Financial Corp. 預計，其人壽保費融資的淨貸款和Panacea的貸款量將實現約10％的增長。
該公司的目標是到2024年下半年實現1％的資產回報率（ROA），並且還在考慮股票回購機會。
More details: Primis Financial IR
更多詳情： Primis 金融投資者
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。
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