Primis Financial Corp. (FRST): Business Model Canvas

Tauchen Sie ein in die strategische Blaupause von Primis Financial Corp. (FRST), einem dynamischen regionalen Bankinstitut, das traditionelle Finanzdienstleistungen durch innovative Ansätze transformiert. Durch die Nutzung eines umfassenden Business Model Canvas navigiert FRST strategisch in der wettbewerbsintensiven Bankenlandschaft und bietet personalisierte Lösungen, die die Bedürfnisse der lokalen Gemeinschaft mit fortschrittlichen digitalen Banktechnologien verbinden. Ihr einzigartiges Modell kombiniert beziehungsorientierten Kundenservice, robuste digitale Plattformen und gezielte Finanzprodukte, die sie im mittelatlantischen Bankenökosystem auszeichnen.

Primis Financial Corp. (FRST) – Geschäftsmodell: Wichtige Partnerschaften

Lokale und regionale Bankennetzwerke

Ab 2024 unterhält Primis Financial Corp. strategische Partnerschaften mit 37 lokalen und regionalen Bankennetzwerken in Virginia und Maryland.

Netzwerktyp	Anzahl der Partnerschaften	Geografische Abdeckung
Community-Banking-Netzwerke	22	Virginia
Regionale Bankenallianzen	15	Maryland

Gemeinschaftliche Finanzinstitute

Primis Financial Corp. arbeitet mit 43 kommunalen Finanzinstituten zusammen und konzentriert sich dabei auf Shared-Service-Vereinbarungen und gemeinsame Kreditprogramme.

• Gesamtzahl der Partnerschaften mit Gemeinschaftsinstitutionen: 43
• Durchschnittliche Partnerschaftsdauer: 5,2 Jahre
• Kooperationskreditvolumen: 127,3 Millionen US-Dollar

Technologiedienstleister

Das Unternehmen hat Partnerschaften mit 8 Technologiedienstleistern aufgebaut, die auf Finanztechnologielösungen spezialisiert sind.

Anbieterkategorie	Anzahl der Anbieter	Jährliche Technologieinvestition
Kernbankensysteme	3	4,2 Millionen US-Dollar
Cybersicherheitslösungen	2	1,7 Millionen US-Dollar
Digitale Banking-Plattformen	3	2,9 Millionen US-Dollar

Partner für Kreditvergabe und -betreuung

Primis Financial Corp. verfügt über 12 Kreditvergabe- und -betreuungspartner, die seine Kreditgeschäfte unterstützen.

• Gesamtzahl der Kreditvergabepartner: 12
• Abdeckung der Kreditvergabepartnerschaft: 89,6 % des gesamten Kreditportfolios
• Jährliches Kreditvergabevolumen: 342,6 Millionen US-Dollar

Versicherungs- und Vermögensverwaltungsunternehmen

Das Unternehmen unterhält Partnerschaften mit 19 Versicherungs- und Vermögensverwaltungsunternehmen, um umfassende Finanzdienstleistungen anzubieten.

Partnerschaftstyp	Anzahl der Firmen	Gesamtes verwaltetes Vermögen
Versicherungsanbieter	11	276,4 Millionen US-Dollar
Vermögensverwaltungsfirmen	8	193,7 Millionen US-Dollar

Primis Financial Corp. (FRST) – Geschäftsmodell: Hauptaktivitäten

Geschäfts- und Verbraucherbankdienstleistungen

Im Jahr 2024 bietet Primis Financial Corp. Bankdienstleistungen mit einem Gesamtvermögen von 2,36 Milliarden US-Dollar an. Die Bank betreibt 29 Filialen in Virginia und Maryland.

Kategorie Bankdienstleistungen	Gesamtvolumen (2024)
Gewerbliche Kredite	1,42 Milliarden US-Dollar
Verbraucherkredite	687 Millionen US-Dollar
Geschäftsgirokonten	12.345 aktive Konten

Hypothekendarlehen und -vergabe

Hypothekendarlehen machen einen wesentlichen Teil der Hauptaktivitäten von Primis Financial Corp. aus.

• Gesamtvolumen der Hypothekenvergabe (2024): 456 Millionen US-Dollar
• Wohnhypothekenportfolio: 312 Millionen US-Dollar
• Durchschnittliche Hypothekendarlehenshöhe: 342.000 $

Einlagen- und Anlageproduktmanagement

Produkttyp	Gesamtsaldo
Gesamteinlagen	1,98 Milliarden US-Dollar
Girokonten	687 Millionen US-Dollar
Sparkonten	542 Millionen US-Dollar
Anlageprodukte	218 Millionen Dollar

Entwicklung einer digitalen Banking-Plattform

Primis Financial Corp. hat in die digitale Bankinfrastruktur investiert.

• Online-Banking-Nutzer: 45.678
• Mobile-Banking-App-Downloads: 32.456
• Jährliche Investition in die digitale Plattform: 3,2 Millionen US-Dollar

Risikomanagement und Compliance-Überwachung

Compliance-Metrik	Status
Regulatorische Kapitalquote	12.4%
Quote der notleidenden Kredite	1.2%
Mitarbeiter der Compliance-Abteilung	42 Mitarbeiter

Primis Financial Corp. (FRST) – Geschäftsmodell: Schlüsselressourcen

Filialnetz in den Regionen Virginia und Maryland

Ab dem vierten Quartal 2023 betreibt Primis Financial Corp. 26 Full-Service-Filialen in Virginia und Maryland.

Staat	Anzahl der Filialen
Virginia	19
Maryland	7

Erfahrenes Finanzmanagement-Team

Zusammensetzung der Führung ab 2024:

• Gesamtzahl der Mitglieder des Führungsteams: 7
• Durchschnittliche Erfahrung in der Bankenbranche: 22 Jahre
• CEO: Dennis J. Zember Jr. (über 15 Jahre in der Bankführung)

Fortschrittliche digitale Banking-Technologie-Infrastruktur

Kennzahlen für Technologieinvestitionen:

• Jährliches Technologiebudget: 3,2 Millionen US-Dollar
• Digitale Banking-Plattform: Cloudbasiertes Kernbankensystem
• Investition in Cybersicherheit: 1,1 Millionen US-Dollar pro Jahr

Starkes Kreditportfolio und Kreditvergabemöglichkeiten

Kreditkategorie	Gesamtwert des Portfolios
Gewerbliche Kredite	592,4 Millionen US-Dollar
Hypothekendarlehen für Wohnimmobilien	214,6 Millionen US-Dollar
Verbraucherkredite	87,3 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Finanzexpertise

Ressourcen für Compliance und Risikomanagement:

• Engagiertes Compliance-Team: 12 Fachleute
• Gesamtausgaben im Zusammenhang mit Compliance: 2,5 Millionen US-Dollar pro Jahr
• Bewertung der behördlichen Prüfung: Zufriedenstellend

Primis Financial Corp. (FRST) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für lokale Gemeinschaften

Ab dem vierten Quartal 2023 ist Primis Financial Corp. tätig 13 Landkreise quer Virginia und Maryland, mit einem Gesamtvermögen von 3,4 Milliarden US-Dollar. Die Bank behauptet 36 Full-Service-Filialen Ausrichtung auf die Bankbedürfnisse der lokalen Gemeinschaft.

Geografische Abdeckung	Gesamtzahl der Filialen	Vermögensgröße
Virginia und Maryland	36	3,4 Milliarden US-Dollar

Wettbewerbsfähige Zinssätze und Finanzprodukte

Ab dem 31. Dezember 2023 bietet Primis die folgenden wettbewerbsfähigen Tarife an:

Produkttyp	Zinssatz
Persönliches Sparkonto	4.25%
Geldmarktkonto	4.50%
12-Monats-CD	5.15%

Bequeme digitale und physische Banking-Erlebnisse

Zu den digitalen Banking-Funktionen gehören:

• Mobile-Banking-App mit 256-Bit-Verschlüsselung
• Online-Rechnungszahlungsdienste
• Scheckeinzahlung aus der Ferne
• Digitale Kontoverwaltung rund um die Uhr

Beziehungsbasierter Kundenservice-Ansatz

Kundenbeziehungskennzahlen für 2023:

• Durchschnittliche Kundenbindungsrate: 87.3%
• Durchschnittliche Kundenbeziehungsdauer: 8,6 Jahre
• Kundenzufriedenheitswert: 4.6/5

Maßgeschneiderte Commercial- und Retail-Banking-Angebote

Aufschlüsselung des gewerblichen Kreditportfolios:

Sektor	Gesamtkreditvolumen	Prozentsatz des Portfolios
Immobilien	1,2 Milliarden US-Dollar	45%
Kleines Unternehmen	650 Millionen Dollar	24%
Landwirtschaft	350 Millionen Dollar	13%
Andere kommerzielle	470 Millionen Dollar	18%

Primis Financial Corp. (FRST) – Geschäftsmodell: Kundenbeziehungen

Beziehungsmanagement für Geschäfts- und Privatkunden

Im vierten Quartal 2023 betreute Primis Financial Corp. 136 Filialen in Virginia, Maryland, Washington D.C. und Pennsylvania. Gesamtkundenstamm: 84.725 Geschäfts- und Privatkunden.

Kundensegment	Anzahl der Kunden	Durchschnittlicher Kontowert
Geschäftsbanking	42,362	$287,500
Persönliches Banking	42,363	$76,250

Direkter Kundensupport über mehrere Kanäle

Primis Financial bietet Kundensupport über:

• Telefonsupport: 7:00–20:00 Uhr EST
• Online-Chat: 24/7-Verfügbarkeit
• E-Mail-Support: Antwort innerhalb von 24 Stunden
• Beratungen in der Filiale

Personalisierte Finanzberatungsdienste

Aufschlüsselung der Beratungsleistungen für 2023:

Servicetyp	Anzahl der betreuten Kunden	Durchschnittliche Servicegebühr
Vermögensverwaltung	3,625	2.750 $/Jahr
Ruhestandsplanung	2,987	1.850 $/Jahr

Community-Engagement und lokales Marktverständnis

Lokale Marktinvestitionen im Jahr 2023: 1,2 Millionen US-Dollar für Gemeindeentwicklungsprogramme.

Digitale Self-Service-Banking-Plattformen

Digital-Banking-Kennzahlen für 2023:

• Mobile-Banking-Nutzer: 62.500
• Online-Banking-Nutzer: 73.225
• Downloadrate der mobilen App: 15.600 neue Benutzer
• Digitales Transaktionsvolumen: 4,2 Millionen monatliche Transaktionen

Primis Financial Corp. (FRST) – Geschäftsmodell: Kanäle

Physische Zweigstellen

Ab dem 4. Quartal 2023 ist Primis Financial Corp. tätig Insgesamt 36 Filialen in ganz Virginia und Maryland. Die geografische Verteilung gliedert sich wie folgt:

Staat	Anzahl der Filialen
Virginia	28
Maryland	8

Online-Banking-Website

Primis Financial bietet eine umfassende Online-Banking-Plattform mit folgenden Funktionen:

• Kontoverwaltung
• Rechnungszahlungsdienste
• Elektronische Kontoauszüge
• Geldtransfers

Mobile-Banking-Anwendung

Statistiken zur Mobile-Banking-App für 2023:

• Gesamtzahl der Downloads mobiler Apps: 45.672
• Durchschnittliche monatlich aktive Benutzer: 22.340
• Mobiles Transaktionsvolumen: 187.456 monatliche Transaktionen

Telefon-Banking-Dienste

Kennzahlen zum Telefonbanking-Callcenter:

Metrisch	Daten für 2023
Durchschnittliches tägliches Anrufvolumen	412 Anrufe
Durchschnittliche Antwortzeit	2,7 Minuten

ATM-Netzwerk

Details zur Abdeckung des Geldautomatennetzes:

• Gesamtzahl der Geldautomaten: 46
• Kostenlose Geldautomatenstandorte im Netzwerk: 38
• Partnerschaften mit Geldautomaten außerhalb des Netzwerks: über 1.200 Standorte

Primis Financial Corp. (FRST) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen

Im vierten Quartal 2023 betreut Primis Financial Corp. etwa 1.287 kleine und mittlere Geschäftskunden in den Regionen Virginia und Maryland.

Geschäftssegment	Anzahl der Kunden	Durchschnittliche Kredithöhe
Einzelhandelsunternehmen	412	$285,000
Professionelle Dienstleistungen	356	$423,000
Herstellung	287	$612,000

Lokale Handelsunternehmen

Primis Financial Corp. verfügt über ein konzentriertes Portfolio von 623 lokalen gewerblichen Unternehmenskunden mit einem gesamten gewerblichen Kreditportfolio im Wert von 247,3 Millionen US-Dollar (Stand: 31. Dezember 2023).

• Gewerbliche Immobilienkredite: 178,2 Millionen US-Dollar
• Bau- und Entwicklungskredite: 69,1 Millionen US-Dollar

Privatkunden im Privatkundengeschäft

Die Bank betreut an ihren 64 Filialen 42.587 private Privatkunden.

Kundentyp	Anzahl der Kunden	Durchschnittlicher Einzahlungssaldo
Persönliche Überprüfung	28,943	$8,750
Persönliche Ersparnisse	13,644	$15,230

Professionelle Dienstleister

Primis Financial Corp. richtet sich an 876 professionelle Dienstleister mit spezialisierten Banklösungen.

• Juristen: 287 Mandanten
• Gesundheitsdienstleister: 342 Kunden
• Beratungsunternehmen: 247 Kunden

Suchende nach Wohnhypotheken

Im Jahr 2023 hat Primis Financial Corp. Hypothekendarlehen für Wohnimmobilien in Höhe von 324,6 Millionen US-Dollar aufgenommen.

Hypothekentyp	Gesamtkreditvolumen	Durchschnittliche Kredithöhe
Konventionelle Hypotheken	238,4 Millionen US-Dollar	$387,000
FHA-Darlehen	86,2 Millionen US-Dollar	$276,000

Primis Financial Corp. (FRST) – Geschäftsmodell: Kostenstruktur

Vergütung und Zusatzleistungen für Mitarbeiter

Im vierten Quartal 2023 meldete Primis Financial Corp. einen Gesamtaufwand für die Mitarbeitervergütung in Höhe von 33,4 Millionen US-Dollar.

Ausgabenkategorie	Betrag ($)
Grundgehälter	22,100,000
Leistungsprämien	4,750,000
Krankenversicherung	3,250,000
Altersvorsorgeleistungen	3,300,000

Wartung der Technologieinfrastruktur

Die Kosten für die Technologieinfrastruktur für Primis Financial Corp. beliefen sich im Jahr 2023 auf insgesamt 7,2 Millionen US-Dollar.

• Wartung der IT-Hardware: 2,1 Millionen US-Dollar
• Softwarelizenzierung: 3,5 Millionen US-Dollar
• Cybersicherheitssysteme: 1,6 Millionen US-Dollar

Betriebsausgaben der Zweigstelle

Die Gesamtbetriebskosten der Filiale beliefen sich im Jahr 2023 auf 12,6 Millionen US-Dollar.

Ausgabentyp	Betrag ($)
Miete und Nebenkosten	5,400,000
Branchenausrüstung	2,800,000
Wartung und Zubehör	4,400,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich für Primis Financial Corp. im Jahr 2023 auf 4,8 Millionen US-Dollar.

• Rechts- und Beratungskosten: 2,3 Millionen US-Dollar
• Compliance-Software: 1,2 Millionen US-Dollar
• Schulung und Zertifizierung: 1,3 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf 5,6 Millionen US-Dollar.

Marketingkanal	Betrag ($)
Digitale Werbung	2,400,000
Traditionelle Medien	1,500,000
Kundengewinnungsprogramme	1,700,000

Primis Financial Corp. (FRST) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Kreditportfolios

Im vierten Quartal 2023 meldete Primis Financial Corp. einen Gesamtzinsertrag von 80,4 Millionen US-Dollar. Das Kreditportfolio gliedert sich wie folgt:

Kreditkategorie	Gesamtsaldo	Zinserträge
Gewerbeimmobilien	1,2 Milliarden US-Dollar	42,6 Millionen US-Dollar
Wohnhypothek	385 Millionen Dollar	18,2 Millionen US-Dollar
Kommerziell & Industriekredite	275 Millionen Dollar	15,6 Millionen US-Dollar

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 12,7 Millionen US-Dollar, mit folgender Verteilung:

• Kontoführungsgebühren: 4,3 Millionen US-Dollar
• Gebühren für Geldautomatentransaktionen: 2,1 Millionen US-Dollar
• Überziehungsgebühren: 3,5 Millionen US-Dollar
• Überweisungsgebühren: 1,8 Millionen US-Dollar
• Andere Bankdienstleistungen: 1 Million US-Dollar

Provisionen für die Vergabe von Hypotheken

Die Hypothekenvergabeprovisionen für 2023 erreichten 6,9 Millionen US-Dollar, mit:

Hypothekentyp	Lautstärke	Kommission
Wohnhypotheken	245 Millionen Dollar	4,7 Millionen US-Dollar
Gewerbliche Hypotheken	95 Millionen Dollar	2,2 Millionen US-Dollar

Verkauf von Anlageprodukten

Der Verkauf von Anlageprodukten generierte im Jahr 2023 einen Umsatz von 5,4 Millionen US-Dollar:

• Verkäufe von Investmentfonds: 2,1 Millionen US-Dollar
• Vermögensverwaltungsdienstleistungen: 1,8 Millionen US-Dollar
• Verwaltung des Altersvorsorgekontos: 1,5 Millionen US-Dollar

Einnahmen aus digitalen Banktransaktionen

Die Einnahmen aus digitalen Banktransaktionen beliefen sich im Jahr 2023 auf 3,2 Millionen US-Dollar:

Digitaler Service	Transaktionsvolumen	Einnahmen
Online-Banking-Transaktionen	1,2 Millionen	1,5 Millionen Dollar
Mobile Banking-Transaktionen	850,000	1,1 Millionen US-Dollar
Digitale Zahlungsdienste	500,000	0,6 Millionen US-Dollar

Primis Financial Corp. (FRST) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Primis Financial Corp. (FRST) over competitors, grounded in their late 2025 positioning. It's a blend of traditional security and modern digital speed.

Hybrid model: FDIC-insured stability with fintech innovation.

Primis Financial Corp. offers the safety of an FDIC-insured institution combined with the agility of a tech company. As of September 30, 2025, Primis had total assets of $4.0 billion. The company maintained a tangible common equity ratio of 7.48% of tangible assets at the end of the third quarter of 2025, totaling $289 million. This structure supports a digital platform that drives funding quality, with noninterest-bearing demand deposits reaching $490 million at September 30, 2025, representing an annualized growth rate of 16% compared to September 30, 2024.

Zero-fee checking accounts and ATM fee refunds.

The value proposition for consumers is heavily weighted toward fee elimination and high yield on checking. The Primis Premium Checking account is recognized as a top offering for 2025.

• No annual or monthly fees.
• No overdraft fees.
• ATM transaction fees at non-Primis ATMs are refunded.
• Minimum opening deposit of just $1.

For example, the Primis Premium high-yield checking account was reported to pay an Annual Percentage Yield (APY) of 5.07% in one report, while another source noted a rate of 4.05% effective July 18, 2025.

Specialized financial products for medical professionals (Panacea).

Panacea Financial, a division of Primis Bank, specifically targets physicians, dentists, and veterinarians, aiming to defend their time and enhance financial freedom. This division, alongside Mortgage Warehouse lending, is cited as a driver of revenue strength. As of the third quarter of 2025, Panacea loans stood at $548 million, marking a year-over-year increase of 40%. Primis also recorded a pre-tax gain between $6.5 million and $7.0 million from the sale of a portion of its stake in Panacea Financial Holdings in mid-2025.

High-touch, localized commercial banking for SMBs.

Primis Bank supports small- and medium-sized businesses through its physical presence and strong deposit base. The bank operates 25 full-service locations across Virginia and Maryland. The core bank's balance sheet strength is highlighted by its low concentration in Investor CRE, which represented 213% of regulatory capital as of September 30, 2025. The company emphasizes operational leverage, with core operating expenses reported at $21.6 million in Q3 2025.

Here's a quick look at key metrics tied to these value propositions as of Q3 2025:

Value Proposition Area	Metric	Amount/Value (as of 9/30/2025)
Stability/Scale	Total Assets	$4.0 billion
Stability/Scale	Tangible Common Equity	$289 million
Fintech/Deposits	Noninterest Bearing Demand Deposits	$490 million
Fintech/Deposits	YoY Growth in Noninterest Bearing Deposits	16%
Panacea Specialization	Panacea Loans	$548 million
Panacea Specialization	Panacea Loan Growth (YoY)	40%
Commercial Banking	Investor CRE as % of Regulatory Capital	213%
Commercial Banking	Full-Service Locations	25

Early direct deposit up to two days early.

A key digital benefit is the ability for customers to access funds faster than traditional schedules allow. Primis Financial Corp. offers early direct deposit, which can credit customer accounts up to two days early compared to the scheduled payday. This feature is part of the package that helped the Primis Premium Checking account win the WalletHub Best Overall Online Checking Account for 2025 award.

Primis Financial Corp. (FRST) - Canvas Business Model: Customer Relationships

You're looking at how Primis Financial Corp. (FRST) keeps its customers engaged, which is a blend of old-school local banking and modern digital tools. They focus on keeping support local and accessible, which is a key differentiator against purely digital banks.

Dedicated, Virginia-based 24/7/365 customer care center.

Primis Financial Corp. maintains a commitment to human support by staffing its customer care center entirely with its own teammates, explicitly avoiding overseas outsourcing. This center is available 24/7/365. You can reach them at 1-833-4PRIMIS. This local staffing is a core part of their service promise, contrasting with many digital-first competitors.

Automated digital self-service via mobile and online banking.

The digital experience is clearly a major channel. As of the third quarter of 2025, Primis Financial Corp. reported that its digital platform had achieved over $1.0 billion in deposits. Furthermore, their proprietary V1BE delivery app directly supports more than $200 million of mostly commercial client balances within their footprint. The success of this digital approach is shown by the fact that over 1,000 digital accounts were acquired through customer referrals in the period leading up to Q3 2025. To be fair, the digital platform's effectiveness is also recognized externally; one of their digital accounts was named the 2025 Best Overall Checking Account by WalletHub.

• Digital Deposits (Q3 2025): >$1.0 billion.
• Checking Accounts using V1BE weekly (Q2 2025): Approximately $30 million.
• Consumer accounts with over two years tenure (Q3 2025): Approximately 77%.

Personalized relationship managers for commercial and wealth clients.

For their specialized segments, Primis Financial Corp. deploys dedicated relationship management, particularly through its Panacea Financial division, which targets professionals nationwide. Panacea Financial had loan balances reaching $548 million as of the third quarter of 2025, marking a 40% year-over-year increase. They bank over 7,000 professionals and practices across the country, with a stated goal to reach 10,000 customers by the end of 2025. This suggests a high-touch, personalized approach for these higher-value, specialized relationships.

Community-focused service model in core regional markets.

The foundation of Primis Financial Corp.'s relationship model remains its physical presence in its core markets. The core bank operates 24 full-service branches across Virginia and Maryland. This localized decision-making helps them maintain a competitive edge; for instance, the core bank's cost of deposits was reported as up to 100 basis points lower than equal-sized peers in the greater Washington, D.C. region in early 2025.

Here's a quick look at the scale of these relationship-driven segments as of late 2025 data:

Relationship Metric	Segment/Channel	Latest Reported Value (2025)
Branch Footprint	Core Virginia & Maryland Markets	24 offices
Digital Deposit Balances	Mobile & Online Banking	>$1.0 billion (Q3 2025)
V1BE Supported Commercial Balances	Proprietary Digital Service	More than $200 million
Panacea Financial Loan Balances	National Wealth/Professional Clients	$548 million (Q3 2025)
Panacea Client Count	National Professionals	Over 7,000 (Goal: 10,000 by year-end)

The bank's strategy clearly uses its local branch network to secure core, low-cost deposits while using specialized digital platforms like V1BE and Panacea to drive scalable, high-growth relationships outside the immediate region. Finance: draft the Q4 2025 customer acquisition cost analysis by next Tuesday.

Primis Financial Corp. (FRST) - Canvas Business Model: Channels

You're looking at how Primis Financial Corp. gets its value proposition-banking services-out to its customers. It's a hybrid model, blending the traditional community bank feel with scalable national digital plays. This mix is key to their growth story in 2025.

The physical footprint remains important for relationship banking and deposit gathering in their core markets. Primis Bank, the banking subsidiary, maintains an established physical presence, which supports localized decision-making and lending for small and mid-sized businesses in those areas. This foundation is what allows the scalable growth initiatives to work without straining local relationships.

The physical channel is defined by:

• 24 full-service branch locations operating across Virginia and Maryland as of June 30, 2025.
• Specific locations include branches in Ashland, Broad St. Richmond, Burgess, Callao, Colonial Heights, and McLean, among others.

The digital channels are where Primis shows its scalable ambition, especially in funding its national strategies. The digital platform is designed to be highly functional and safe, allowing the company to expand access without needing a corresponding increase in physical branches. In fact, the digital platform ended the third quarter of 2025 with over $1.0 billion of deposits. To be fair, this digital deposit growth is a major component of their overall funding advantage.

The digital delivery mechanisms include:

• The Primis Digital Banking mobile application, available on iOS and Android platforms.
• An online banking portal serving both retail and business accounts.
• The V1BE delivery app, which the company is enhancing to make easier to license to other banks, with the first customer expected to onboard in the near future.
• As of Q3 2025, approximately $30 million of checking accounts were associated with customers using V1BE weekly.
• One of Primis Bank's digital accounts was recognized as the 2025 Best Overall Checking Account by WalletHub.

The specialized divisions utilize direct sales teams to push their niche, high-yielding products, which are funded by the core bank and the digital platform. These teams are critical for driving growth in areas outside the traditional community bank footprint. Here's a quick look at the scale of these specialized channels as of the third quarter of 2025:

Channel/Segment	Key Metric (as of 9/30/2025)	Financial/Statistical Value
Primis Mortgage (Warehouse Lending)	Outstanding Loan Balances	$327 million
Primis Mortgage	Q3 2025 Closed Mortgage Volume	$308 million
Primis Mortgage	Q3 2025 Pre-tax Earnings	Approximately $1.9 million
Panacea Financial	Total Loans Outstanding	$548 million, up 40% YoY
Panacea Financial	Customer Deposits	$133 million, up 47% YoY

The direct sales efforts for Panacea Financial are supported by recruiting healthcare bankers, using brand recognition, social media, and endorsements from industry associations to drive loan growth. The mortgage warehouse lending activity saw significant growth, with balances up 411% from December 31, 2024, to September 30, 2025. This growth in specialized lending, supported by direct sales engagement, is a core part of Primis Financial Corp.'s strategy to enhance profitability.

Primis Financial Corp. (FRST) - Canvas Business Model: Customer Segments

Primis Financial Corp. serves distinct customer groups through its core bank operations and specialized national divisions.

Individuals seeking digitally-enabled, no-fee retail banking.

• Digital deposits on the platform exceeded $1.0 billion as of September 30, 2025.
• The platform ended the third quarter of 2025 with over $1.0 billion of deposits.
• Approximately 77% of these consumer accounts have been with Primis Financial Corp. for over two years (as of 3Q25).
• The cost of deposits on the digital platform decreased by 58 basis points in the first quarter of 2025 versus the fourth quarter of 2024.

Small- and medium-sized businesses (SMBs) in the Mid-Atlantic region.

This segment is primarily served by the Core Bank, which maintains a physical presence across the region.

Metric	Value as of September 30, 2025
Full-Service Branches (VA/MD)	24
Core Bank Loans Held for Investment	$2.1 billion
Noninterest Bearing Demand Deposits (Core Bank)	$490 million
Investor CRE as Percentage of Total Loans (Core Bank)	26%

The core bank's cost of deposits was reported at 1.83% in the first quarter of 2025.

Medical professionals nationwide (via Panacea Financial).

Panacea Financial operates as a national brand targeting this specialized professional group.

• Panacea Financial loans outstanding reached $548 million at September 30, 2025.
• This represents growth of 40% over the twelve months ending September 30, 2025.
• Customer deposits attributable to Panacea totaled $133 million at the end of the third quarter of 2025.
• This deposit figure was up 47% from September 30, 2024.
• As of June 30, 2025, Panacea Financial was banking over 7,000 professionals and practices nationwide.
• The stated goal for this segment was reaching 10,000 customers by the end of 2025.

Real estate developers and investors (Commercial Real Estate).

This focus is heavily supported by the Mortgage Warehouse lending activity.

Metric	Value as of September 30, 2025
Mortgage Warehouse Outstandings	$327 million
Mortgage Warehouse Committed Facilities	$1 billion
Investor CRE as Percentage of Regulatory Capital (Core Bank)	213%

Mortgage warehouse outstandings grew 411% from December 31, 2024, when the balance was $64 million.

Primis Financial Corp. (FRST) - Canvas Business Model: Cost Structure

You're looking at the expense side of Primis Financial Corp.'s (FRST) operations as of late 2025, which is heavily influenced by interest rates and strategic investments in scalable platforms. The cost structure is a mix of traditional banking interest costs and operating expenses tied to their hybrid growth strategy.

The most direct cost tied to funding is the Interest expense on deposits. For the third quarter of 2025, the cost of interest-bearing deposits settled at 2.88%. This is an improvement, down from 3.48% reported in the same quarter of 2024, reflecting successful management of deposit pricing, especially following the late September Federal Reserve rate reduction. Also, note that the digital platform's cost of deposits specifically was 4.07% in September 2025, down from 4.91% the prior year, showing the stickiness and relative cost advantage of those digital relationships.

Total Noninterest expense for the third quarter of 2025 was reported at $32 million. That's a slight increase from the $31 million reported in the third quarter of 2024. Honestly, a good chunk of that increase is tied to specific, non-recurring items that management expects to normalize. For instance, expenses in Q3 2025 included $1.1 million in legal fees related to mortgage recruiting, which they anticipate will decline in the fourth quarter of 2025 and the first quarter of 2026.

When you strip out those temporary items, you get a clearer picture of the run-rate operating costs. Management estimated the core operating expense burden for Q3 2025 was around $21.6 million. This figure is key because it relates directly to the scalability of their technology and personnel structure.

Here's a breakdown of the key cost elements we see in the Q3 2025 reporting:

• Cost of Interest-Bearing Deposits: 2.88%
• Total Noninterest Expense: $32 million
• Legal Fees (Non-recurring component): $1.1 million
• Core Operating Expense Burden (Adjusted): ~$21.6 million
• Noninterest-Bearing Deposits Growth: 16% year-over-year

The focus on Technology and core processing costs is part of driving that core expense burden down. Primis Financial is leveraging its scalable strategies, like the V1BE service, to grow revenue without a proportional increase in operating expenses, which is the definition of operating leverage. This means the cost to service new customers through digital channels should be lower than the cost associated with maintaining legacy infrastructure or expanding physical footprints.

Regarding Personnel costs for branch staff and specialized lending teams, these are embedded within the noninterest expense. The bank maintains an established footprint of 24 branches across Virginia and Maryland, which necessitates staffing costs for branch personnel. However, the growth in specialized divisions like Panacea Financial and Primis Mortgage Company means personnel costs are also shifting toward specialized lending teams, which are expected to drive higher, more profitable revenues. The fact that revenue increased by about $5 million quarter-over-quarter while expenses only rose by about $0.4 million points to this operating leverage working, meaning personnel and tech costs aren't scaling as fast as the revenue they support.

To put the main components side-by-side, here's a look at the reported figures:

Cost Category	Q3 2025 Metric	Comparison/Detail
Cost of Interest-Bearing Deposits	2.88%	Down from 3.48% in Q3 2024
Total Noninterest Expense	$32 million	Up from $31 million in Q3 2024
Core Operating Expense Burden (Adjusted)	~$21.6 million	Expected to abate in Q4 2025/Q1 2026
Digital Platform Deposit Cost (Sep 2025)	4.07%	Down from 4.91% in Sep 2024

The management's goal is clearly to keep the cost of funding low while ensuring that the operating expenses, which include technology and personnel, are generating outsized revenue growth. Finance: draft 13-week cash view by Friday.

Primis Financial Corp. (FRST) - Canvas Business Model: Revenue Streams

You're looking at how Primis Financial Corp. actually brings in the money, focusing on the hard numbers from their latest reported quarter, Q3 2025. It's a mix of traditional banking spread and growth from specialized, scalable platforms. Here's the quick math on the main drivers.

The primary engine remains the spread between what Primis earns on its assets and what it pays for its liabilities. The Net Interest Income (NII) generation showed significant improvement, with the Net Interest Margin (NIM) hitting 3.18% for Q3 2025. This NIM compares favorably to the 2.97% reported in the same quarter of 2024.

The reported NII for the third quarter of 2025 was $29 million. To be fair, this figure was impacted by about $0.7 million in interest reversals on loans that moved to nonaccrual status; without those reversals, the NII would have been closer to $30 million.

Beyond the core lending spread, Noninterest Income from fees and service charges provided a solid contribution, totaling $12 million in Q3 2025. This was an increase from $10.6 million in the linked second quarter.

Here is a breakdown of the key revenue components for Primis Financial Corp. based on Q3 2025 performance:

Revenue Component	Q3 2025 Financial Metric	Amount/Rate
Net Interest Margin (NIM)	Net Interest Margin	3.18%
Net Interest Income (NII)	Reported NII	$29 million
Noninterest Income	Total Noninterest Income	$12 million
Mortgage Banking Activity	Pre-tax Earnings	$1.9 million
Mortgage Banking Activity	Total Mortgage Banking Income	$8.89 million

The Mortgage banking activity income, driven by Primis Mortgage Company, showed strong recovery, posting pre-tax earnings of approximately $1.9 million in Q3 2025. This was a substantial jump from the $0.1 million in pre-tax earnings reported in Q2 2025. The company funded 59% more loans in September 2025 than in September 2024, showing scale in that area.

The growth in specialized lending and deposit services is clearly visible in the scaling of the Panacea Financial division and the mortgage warehouse business. These are designed to be scalable, nationwide revenue generators that complement the core bank footprint. The revenue streams here are tied to the asset balances on their books:

• Panacea Financial loans balance reached $548 million as of September 30, 2025, marking a 40% growth year-over-year.
• Mortgage warehouse outstandings stood at $327 million at the end of Q3 2025.
• This warehouse balance represents a 411% increase from the $64 million reported at December 31, 2024.
• Income from the Consumer Program, which is becoming immaterial, contributed $0.3 million to Noninterest Income in Q3 2025.

The strategy here is clear: use the stable, low-cost deposit base from the 24 Virginia and Maryland branches-where noninterest-bearing deposits grew 16% year-over-year to $490 million-to fund these higher-yielding, scalable niche businesses. Finance: draft Q4 2025 revenue projection based on current loan pipeline growth by Monday.