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    Nicholas Lorenzoni • D.A. Davidson & Co.

    Nicholas Lorenzoni is an Equity Research Associate specializing in regional bank analysis, with a primary focus on institutions located in the Southeast and Mid-Atlantic regions. He has developed expertise in tracking performance metrics for banks and delivers detailed financial insights for companies in these geographic areas. Lorenzoni began his analyst career after earning his BSBA and joined Stephens in June 2023, with prior academic experience forming the core of his professional foundation. He is building his credentials within equity research and specializes in rigorous financial assessments and company-specific coverage.

    Nicholas Lorenzoni's questions to Primis Financial Corp (FRST) leadership

    Nicholas Lorenzoni's questions to Primis Financial Corp (FRST) leadership • Q3 2024

    Question

    Nicholas Lorenzoni of D.A. Davidson & Co. inquired about the core expense outlook following the Life Premium Finance sale, plans for segmenting mortgage warehouse loans, the expected growth trajectory for that new portfolio, and the timeline for achieving the company's 1% return on assets (ROA) target.

    Answer

    Executive Matthew Switzer stated that core expenses should remain relatively flat and that mortgage warehouse loans will be broken out for reporting as they become material in 2025. President and CEO Dennis Zember detailed the plan to replace the Life Premium portfolio with mortgage warehouse loans, targeting an average balance of $400 million for 2025. Both executives outlined a path to a 1% ROA by the second half of 2025, driven by the profitable portfolio swap, cost controls, and expected margin expansion.

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