Primis Financial (Primis Financial) LT-Debt-to-Total-Asset : 0.03 (As of Sep. 2023)

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What is Primis Financial LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Primis Financial's long-term debt to total assests ratio for the quarter that ended in Sep. 2023 was 0.03.

Primis Financial's long-term debt to total assets ratio declined from Sep. 2022 (0.07) to Sep. 2023 (0.03). It may suggest that Primis Financial is progressively becoming less dependent on debt to grow their business.

Primis Financial LT-Debt-to-Total-Asset Historical Data

The historical data trend for Primis Financial's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Primis Financial LT-Debt-to-Total-Asset Chart

Primis Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.02

0.07

0.06

0.12

0.04

Primis Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.12	0.03	0.03	0.03	0.04

Primis Financial LT-Debt-to-Total-Asset Calculation

Primis Financial's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2022 is calculated as

LT Debt to Total Assets (A: Dec. 2022 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2022 )	/	Total Assets (A: Dec. 2022 )
	=	426.079	/	3571.537
	=	0.12

Primis Financial's Long-Term Debt to Total Asset Ratio for the quarter that ended in Sep. 2023 is calculated as

LT Debt to Total Assets (Q: Sep. 2023 )	=	Long-Term Debt & Capital Lease Obligation (Q: Sep. 2023 )	/	Total Assets (Q: Sep. 2023 )
	=	95.524	/	3813.775
	=	0.03

Primis Financial (NAS:FRST) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Primis Financial LT-Debt-to-Total-Asset Related Terms

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Primis Financial (Primis Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Primis Financial Corp (NAS:FRST) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

7H80:Germany

Address

6830 Old Dominion Drive, McLean, VA, USA, 22101

Website

https://www.primisbank.com

Primis Financial Corp is the bank holding company for Primis Bank, providing financial services to individuals and small and medium-sized businesses. Primis Bank offers a wide range of commercial banking services, it focuses on making loans secured majorly by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in a number of industries, as well as loans to individuals for a variety of purposes. Primis Bank offers a broad range of deposit products, including checking (NOW), savings, money market accounts and certificates of deposit.

Executives

Rickey Allen Fulk	officer: EVP, President	1194 ELSOM MASCOT ROAD, MATTAPONI VA 23110
Charles A Kabbash	director	308 EAST MARKET ST., CHARLOTTESVILLE VA 22902
Clinton Tyler Stafford	officer: Pres Panacea Financial	4612 CLUB ROAD, LITTLE ROCK AR 72207
Susan B Williamson	officer: EVP, Director of Reg Relations	32482 JENKINS MILL ROAD, FRANKLIN VA 23851
William Rand Cook	director	4459 CROWN HILL ROAD, MECHANICSVILLE VA 23111
Robert Yates Clagett	director	17017 RIVER AIRPORT ROAD, BRANDYWINE MD 20613
Eric Alan Johnson	director	P O BOX 517, URBANNA VA 23175
Matthew Alan Switzer	officer: EVP, CFO	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Jones Allen R Jr.	director	304 MARCELLA ROAD, SUITE E, HAMPTON VA 23666
Garrett F L Iii	director	268 CATHCHPENNY LANE, BOWLERS WHARF VA 22560
John Fitzgerald Biagas	director	627 36TH STREET, NEWPORT NEWS VA 23607
Ann-stanton C Gore	officer: EVP, Chief Marketing Officer	1700 WOODLAKE DRIVE, COLUMBIA SC 29206
Barry P Almond	officer: EVP, Head of Retail/Marketing	14319 NICOLAY WAY, MIDLOTHIAN VA 23114
Deborah Diaz	director	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Julia E Fredricks	officer: EVP, Chief Risk Officer	11032 SLENDERLEAF DRIVE, GLEN ALLEN VA 23060