Primis Bank


Overview / Commentary
804-443-6353
307 Church Lane
Tappahannock, VA 22560

Primis Bank is headquartered in TAPPAHANNOCK and is the 7th largest bank in the state of Virginia. It is also the 331st largest bank in the nation. It was established in 2005 and as of December of 2023, it had grown to 511 employees at 31 locations. Primis Bank's savings rates are 10X the national average, and it boasts an A+ health rating.

Related Posts

Checking Promo 6% For 6 Months - 1/22/2024

I don't think this is anything special but will post it just in case others are interested. From Primis: "Does your checking account pay 6.00% annual percentage yield (APY)? Why not park your checking account at Primis and earn more with Primis Novus. It's the account that pays you 6.00% APY for 6 months when you establish direct deposit and a direct deposit of at least $1,200 hits your account within 60 days of opening it. 6.00% APY. For 6 months. On up to $50,000. After 6 months, you'll still earn a variable base rate on your entire balance (currently 4.00% APY!). PRIMIS NOVUS CHECKING BOOST your earnings to 6.00% APY on up to $50,000 for 6 months. FREE checking - no account fees, no overdraft fees. FREE incoming wires plus wire refunds from fees originating banks charge to wire money to Primis. FREE ATM use, nationwide. EARLY direct deposit. NO limits on the number of transactions

Primis Bank Now Limiting External Accounts To 3 - 10/11/2023

This morning I read at the Doctor of Credit (DoC) website (https://www.doctorofcredit.com/primis-bank-5-03-checking-savings-accounts/) that Primis Bank is now limiting the number of external accounts that you can link to your Primis account to just 3. Per the posts at DoC, the previous limit was 10 external accounts. I checked my own Primis savings account and my 7 external account links are still intact so I must be "grandfathered" to keep my current 7 external links. I assume that I will not be able to add any new/additional external accounts unless I bring my total to less than 3 beforehand. It sure would have been nice if Primis notified their current account holders of this new restrictive policy!

Wires Now Free At Primis - 9/1/2023

I know there's a lot of Primis hate around here but for what it's worth, got an email from them saying basically that because their ACH limits are so low (to prevent fraud... hm...) well anyway, that wires will now be free from their end -- and they'll even refund you up to $10 to help defray the cost from the sending bank. Still not as convenient as ACH but thought the info would be useful to know...

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Reviews (111)

Evil And Primis

Posted by: |

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?

Need Money

Posted by: |

Don't put Your money here. When you try to transfer out you get 'Connection failed'
There was a problem validating your credentials with ******. Please try again later.

You just can't get your money back. Customer service may answer in 50-57 minutes or they may just hang up on you. It doesn't matter which because customer service can't help with the problem.

Solution. Open an account somewhere else and transfer your fund into the new account.

Forever To Open Account No Communication Interest Rate Was A Hook

Posted by: |

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.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #57968
Year Established2005
Employees511
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD3.66%
Annual Interest Income$205.7MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$3.87B$3.56B
LoansQ4 2023vs Q4 2022$3.24B$2.94B
DepositsQ4 2023vs Q4 2022$3.32B$2.74B
Equity CapitalQ4 2023vs Q4 2022$459.7MM$460.7MM
Loan Loss AllowanceQ4 2023vs Q4 2022$34MM$34.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$7.7MM$34.9MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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Primis Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.07%--Primis Savings Account - Online Only
4.00%--Business Primis Savings

Primis Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.07%--Primis Premium Checking - Online Only
Locations

Availability

Richmond Area

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