Primis Financial Corp. (NASDAQ:FRST) Q4 2022 Earnings Conference Call January 27, 2023 10:00 AM ET

Company Participants

Matthew Switzer - Executive Vice President and Chief Financial Officer

Dennis Zember - President and Chief Executive Officer

Conference Call Participants

Casey Whitman - Piper Sandler

Christopher Marinac - Janney Montgomery Scott

Operator

Hello and thank you for standing by. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to Primis Financial Corporation Fourth Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn today's conference over to Matt Switzer, Chief Financial Officer. Please go ahead.

Matthew Switzer

Good morning and thank you for joining us for Primis Financial Corps' 2022 fourth quarter webcast and conference call.

Before we begin, please note that many of our comments during this call will be forward-looking statements, which involve risk and uncertainty. There are many factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements.

Further discussion of the company's risk factors and other important information regarding our forward-looking statements are part of our recent filings with the Securities and Exchange Commission, including our recently filed earnings release, which has also been posted to the Investor Relations section of our corporate site, primisbank.com. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

In addition, some of the financial measures that we may discuss this morning are non-GAAP financial measures. A reconciliation of the non-GAAP measures to the most comparable GAAP measures can be found in our earnings release.

With that, I will now turn the call over to our President and Chief Executive Officer, Dennis Zember.

Dennis Zember

Thank you, Matt and thank you to all of you that have joined our fourth quarter conference call.

When we started 2022, we were determined to grow our new lines of business alongside the community bank to finish the work that we'd started on the digital bank, and to somehow diversify away from just spread income, wanting to build some strength and opportunity and non-interest income, which our company had not really benefited from. Looking back over the last 12 months, we've invested so hard in the bank that we envision. And the question, or one of the questions that we all have is basically, will it pay off and win? I'm going to answer that in a minute, but first, a few items to highlight in the quarter and in the year.