Primis Bank is headquartered in TAPPAHANNOCK and is the 9th largest bank in the state of Virginia. It is also the 355th largest bank in the nation. It was established in 2005 and as of March of 2025, it had grown to 573 employees at 28 locations. Primis Bank's savings rates are 8X the national average, and it has an A health rating.
Evil And Primis
People may wonder why I bother with him, and I'll explain. I just had a big class reunion, and there were several from the "i'm so damn smart" crowd who just have to explain to you how stupid you are and how successful they are. Ok maybe not several but certainly One.
This is Evil in a nutshell who completely dismisses any and all criticism of Primis and tells us we are just haters and liars and stupid. He can't deal with the fact that Primis is now almost middle of the road, ok top third, as far as internet bank saving rates for individual non business savers, has no answer when I point out you can do better with treasuries and has no answer to any legitimate criticism as well, such as one hour plus holds. Nope. He's too in love. And probably on the payroll.
My wife and I are simple people living in Columbus snow birding in Myrtle Beach and going on our 38th year of marriage. We both have financial backgrounds but I certainly can learn much more, and that's why I come to this board looking for some ideas. My wife does as well but won't say boo. There are some good ideas, and then there is Evil who is that bloody mouth at the class reunion you want to punch.
And that's why I cant stand Evil Capitalist. I just wanted to explain myself. My wife is already mortified by this post :). He brings the worst out of me. If need be delete. As Evil would say, I couldn't care less. He needs to tone it down, and so do I, and will.
Links To External Institutions
Currently Primis disabled the ability to link to external institutions using account and routing number, must be done via Plaid. CSR says IT is working on adding that feature back in. She says they are temporarily disabling this feature while accepting new applicants and they do not have a time frame when it's going to be available again! Anyone else run into this issue?
Impossible To Contact
I began on 2/13/23 by opening a MM account based of the exceptional rate offered at 5.03%. In the process of setting up said account, there was no communication, except a "hold" on the initial transfer. I rang both phone numbers (one for a stolen of missing card), and BOTH were not functioning. Both numbers just rang until an automatic hang up. This is very disconcerting, but, from my experience in the past, I had a similar issue initially with CFG Bank when they were offering a good rate.
There were TWO of the same transfers in the "hold" account, and I even sent an internal email asking about it. I just received notification today that the transfer went through, but that I was charged a $70 fee.
I am currently on hold, and the wait time is 22 minutes. At least they've ramped up on customer service.
The long and the short of this is - WHY are the banks so lame in offering competitive rates when they are charging high rates to borrowers? This leaves those of us who happen to have some savings, to flock over to a little morsel of an offer to us, in order to have a decent rate - that is still low.
It never seems to work both ways.
At least there is this site, where we can access up to date information.
Forever To Open Account No Communication Interest Rate Was A Hook
Opened account with ALL required information on 2/7. "Under review" for two weeks. No reply to my inquires about delay. When account was finally opened, Primis adjusted my interest rated from the promised 5.03% APY (when I opened the account on 2/7/2023 to 4.27% on 2/23/2023. Calling today to close the account. I have a higher interest rate through Raisin Save Better, and I had NO trouble at all opening the account a couple of months ago.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57968 |
| Year Established | 2005 |
| Employees | 573 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.55% |
| Return on Equity - YTD | 4.8% |
| Annual Interest Income | $47.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $3.67B$3.91B |
| Loans | Q1 2025vs Q1 2024 | $3.07B$3.25B |
| Deposits | Q1 2025vs Q1 2024 | $3.19B$3.35B |
| Equity Capital | Q1 2025vs Q1 2024 | $419.9MM$466.2MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $44MM$42.6MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $10.4MM$8.8MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |
