Primis Financial Corp. (NASDAQ:FRST) Q4 2022 Earnings Call Transcript

Matthew Switzer: The other thing I would add and we’ve talked about this or highlighted it in our investor presentations previously, we’re — with the digital platform, we’ve been growing in the fourth quarter with one hand on our back. It’s only got consumer accounts so far. In the first quarter, business counts will go live. And at the same time, we have an upgrade of the mobile experience for both consumer and business, that will take place. That’s a meaningful improvement, and for business accounts, a meaningfully improved user experience and functionality for small business customers. So, we’re very excited about that. We’re — I mean, our CIO will tell you we are pounding in every day on updates on when we’re going to have all that live because we think that’s — I mean, consumer’s important, because you can market broadly and move the needle with a lot of accounts.

But we really need this business piece live, because we can then move the needle with some larger balances and fewer accounts. And we haven’t had that delivered yet.

Christopher Marinac: Good. I follow you there and I thank you for that. And it sounds like the digital bank is going to influence both total deposits as well as core deposits. Just back to kind of the way that you explained it on the slide 20. So, that’s good. Thanks again for taking the question this morning.

Dennis Zember: All right. Thanks Chris.

Operator: I’d now like to hand the conference back over to management for any closing remarks.

End of Q&A:

Dennis Zember: We have no closing remarks, but we are available if you have questions or comments or want to call us directly. Matt and I are both around. Thank you and have a good weekend.

Operator: That will conclude today’s meeting. Thank you all for joining. You may now disconnect.