Primis Financial Corp. Reports Strong Q4 2025 Earnings with Margin Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 30 2026
0mins
Source: seekingalpha
- Earnings Performance: Primis Financial reported a net income of $29.5 million for Q4 2025, translating to $1.20 per share, indicating a stable asset management performance with an 80 basis point ROA despite virtually no improvement post-restructuring.
- Deposit Growth: The company’s noninterest-bearing deposits reached $554 million by year-end, accounting for 16% of total deposits, up from 14% in 2024, showcasing successful customer acquisition through its proprietary app and enhancing market competitiveness.
- Mortgage Performance: Primis Mortgage closed $1.2 billion in loans during Q4, a 50% increase over 2024, with $143 million closed in December alone, reflecting strong market demand and improved profitability.
- Future Outlook: Management anticipates achieving a 1% ROA in 2026, although the first quarter may fall short, with expectations for recovery in the second half, demonstrating confidence in future profitability.
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Analyst Views on FRST
About FRST
Primis Financial Corp. is the bank holding company for Primis Bank (the Bank), a Virginia state-chartered bank. The Bank provides a range of financial services to individuals and small- and medium-sized businesses through approximately 24 full-service branches in Virginia and Maryland and provides services to customers through certain online and mobile applications. The Company's segments include Primis Bank and Primis Mortgage. The Primis Bank segment specializes in providing financing services to businesses in various industries and deposit-related services to businesses, consumers and other customers. The Primis Mortgage segment specializes in originating mortgages in a majority of the United States. The Bank invests in real estate-related securities, including collateralized mortgage obligations and agency mortgage-backed securities. The Bank offers a broad range of deposit products, including checking (NOW), savings, money market accounts and certificates of deposit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Primis Financial Corp. Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors during the annual shareholders' meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's insights into commercial and retail banking.
- Diverse Background: J. Brock Saunders, Managing Partner at Mattock Capital, has extensive financial services experience, including serving as President and CIO at James River Capital, and his expertise in capital markets and investing is anticipated to provide valuable perspectives to the Primis Board.
- Asset Scale: As of March 31, 2026, Primis Financial Corp. reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in the financial services sector that can support future business expansion.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their service, emphasizing their contributions during their tenure, ensuring that the new members' addition will continue to drive the company's growth.
See More
Primis Financial Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors at the annual shareholder meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's commercial and retail banking management.
- Diverse Background: Saunders, as Managing Partner at Mattock Capital, previously served as President and CIO at James River Capital, and his extensive experience in capital markets and investing will provide valuable insights to Primis' Board, aiding in strategic decision-making.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their contributions during their tenure, with Gamble and Saunders filling their respective seats, ensuring continuity and professionalism within the board.
- Financial Overview: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, reflecting a solid foundation in the financial services sector, and plans to expand market reach through 24 full-service branches and online services.
See More
Primis Financial Corp. Reports Q1 2026 Earnings Insights
- Earnings Performance: Primis Financial reported a profit of $7.3 million for Q1 2026, translating to $0.30 per share, with an operating basis EPS of $0.33, demonstrating effective control over operating expenses despite a significant gain from the deconsolidation of Panacea in Q1 2025.
- Net Interest Margin Improvement: The net interest margin increased to 3.43% in Q1, up from 3.28% in the previous quarter, with net interest income around $32 million, indicating successful funding and balance sheet management, with expectations for continued margin expansion throughout 2026.
- Mortgage Business Growth: The retail mortgage segment had a standout quarter with pretax income reaching $2.1 million, showcasing strong growth potential in the mortgage market, with aspirations to rank among the top 50 mortgage companies nationwide by 2026.
- AI Strategic Deployment: Management views AI as a critical catalyst for driving operational results and fraud prevention, projecting that within a year, Primis Financial will become the undisputed leader among banks under $10 billion, enhancing its competitive edge in the market.
See More
Primis Financial Declares Quarterly Dividend of $0.10 per Share
- Quarterly Dividend Announcement: Primis Financial has declared a quarterly dividend of $0.10 per share, consistent with previous distributions, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Yield Analysis: The forward yield of 2.87% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Shareholder Record Dates: The dividend will be payable on May 22, with a record date of May 8 and an ex-dividend date also on May 8, ensuring shareholders receive their payouts promptly.
- Future Outlook: Primis Financial aims to achieve a 1% return on assets (ROA) by 2026, driven by margin expansion and core deposit growth, indicating the company's confidence in future performance improvements.
See More
Primis Financial Q1 Earnings Beat Expectations
- Earnings Beat: Primis Financial reported a Q1 GAAP EPS of $0.30, exceeding expectations by $0.02, indicating stable profitability and enhanced market confidence in the company.
- Strong Revenue Performance: Despite a year-over-year decline of 21.1%, the company achieved Q1 revenue of $46.1 million, surpassing expectations by $13.72 million, demonstrating resilience in revenue generation even in challenging conditions.
- Positive Future Outlook: Primis Financial aims to achieve a 1% return on assets (ROA) by 2026, focusing on margin expansion and core deposit growth, reflecting the company's confidence and strategic planning for future performance.
- Market Reaction: Following the earnings release, the market reacted positively to Primis Financial, with investors expressing optimism about the company's growth potential, which may drive stock price appreciation.
See More
Primis Financial Corp. Declares Quarterly Cash Dividend of $0.10 Per Share
- Quarterly Performance Review: In Q1 2026, Primis Financial Corp. reported a net income of $7.3 million, or $0.30 per diluted share, a significant decline from $22.6 million and $0.92 in Q1 2025, indicating challenges in profitability.
- Operating Net Income Growth: Despite the overall net income drop, operating net income rose from $3.6 million in 2025 to $8.1 million, with operating earnings per share increasing to $0.33, demonstrating resilience and improvement in core operations.
- Loan and Deposit Growth: As of March 31, 2026, Primis's total assets reached $4.257 billion, a 15% increase from 2025, with total loans and deposits at $3.4 billion, reflecting a 12% and 8% growth respectively, indicating sustained competitiveness in the market.
- Dividend Policy Continuation: The Board declared a cash dividend of $0.10 per share, marking the company's 58th consecutive quarterly dividend, showcasing its commitment to shareholder returns despite profitability fluctuations.
See More
Primis Financial Corp. Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors during the annual shareholders' meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's insights into commercial and retail banking.
- Diverse Background: J. Brock Saunders, Managing Partner at Mattock Capital, has extensive financial services experience, including serving as President and CIO at James River Capital, and his expertise in capital markets and investing is anticipated to provide valuable perspectives to the Primis Board.
- Asset Scale: As of March 31, 2026, Primis Financial Corp. reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in the financial services sector that can support future business expansion.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their service, emphasizing their contributions during their tenure, ensuring that the new members' addition will continue to drive the company's growth.
See More
Primis Financial Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors at the annual shareholder meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's commercial and retail banking management.
- Diverse Background: Saunders, as Managing Partner at Mattock Capital, previously served as President and CIO at James River Capital, and his extensive experience in capital markets and investing will provide valuable insights to Primis' Board, aiding in strategic decision-making.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their contributions during their tenure, with Gamble and Saunders filling their respective seats, ensuring continuity and professionalism within the board.
- Financial Overview: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, reflecting a solid foundation in the financial services sector, and plans to expand market reach through 24 full-service branches and online services.
See More
Primis Financial Corp. Reports Q1 2026 Earnings Insights
- Earnings Performance: Primis Financial reported a profit of $7.3 million for Q1 2026, translating to $0.30 per share, with an operating basis EPS of $0.33, demonstrating effective control over operating expenses despite a significant gain from the deconsolidation of Panacea in Q1 2025.
- Net Interest Margin Improvement: The net interest margin increased to 3.43% in Q1, up from 3.28% in the previous quarter, with net interest income around $32 million, indicating successful funding and balance sheet management, with expectations for continued margin expansion throughout 2026.
- Mortgage Business Growth: The retail mortgage segment had a standout quarter with pretax income reaching $2.1 million, showcasing strong growth potential in the mortgage market, with aspirations to rank among the top 50 mortgage companies nationwide by 2026.
- AI Strategic Deployment: Management views AI as a critical catalyst for driving operational results and fraud prevention, projecting that within a year, Primis Financial will become the undisputed leader among banks under $10 billion, enhancing its competitive edge in the market.
See More
Primis Financial Declares Quarterly Dividend of $0.10 per Share
- Quarterly Dividend Announcement: Primis Financial has declared a quarterly dividend of $0.10 per share, consistent with previous distributions, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Yield Analysis: The forward yield of 2.87% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Shareholder Record Dates: The dividend will be payable on May 22, with a record date of May 8 and an ex-dividend date also on May 8, ensuring shareholders receive their payouts promptly.
- Future Outlook: Primis Financial aims to achieve a 1% return on assets (ROA) by 2026, driven by margin expansion and core deposit growth, indicating the company's confidence in future performance improvements.
See More
Primis Financial Q1 Earnings Beat Expectations
- Earnings Beat: Primis Financial reported a Q1 GAAP EPS of $0.30, exceeding expectations by $0.02, indicating stable profitability and enhanced market confidence in the company.
- Strong Revenue Performance: Despite a year-over-year decline of 21.1%, the company achieved Q1 revenue of $46.1 million, surpassing expectations by $13.72 million, demonstrating resilience in revenue generation even in challenging conditions.
- Positive Future Outlook: Primis Financial aims to achieve a 1% return on assets (ROA) by 2026, focusing on margin expansion and core deposit growth, reflecting the company's confidence and strategic planning for future performance.
- Market Reaction: Following the earnings release, the market reacted positively to Primis Financial, with investors expressing optimism about the company's growth potential, which may drive stock price appreciation.
See More
Primis Financial Corp. Declares Quarterly Cash Dividend of $0.10 Per Share
- Quarterly Performance Review: In Q1 2026, Primis Financial Corp. reported a net income of $7.3 million, or $0.30 per diluted share, a significant decline from $22.6 million and $0.92 in Q1 2025, indicating challenges in profitability.
- Operating Net Income Growth: Despite the overall net income drop, operating net income rose from $3.6 million in 2025 to $8.1 million, with operating earnings per share increasing to $0.33, demonstrating resilience and improvement in core operations.
- Loan and Deposit Growth: As of March 31, 2026, Primis's total assets reached $4.257 billion, a 15% increase from 2025, with total loans and deposits at $3.4 billion, reflecting a 12% and 8% growth respectively, indicating sustained competitiveness in the market.
- Dividend Policy Continuation: The Board declared a cash dividend of $0.10 per share, marking the company's 58th consecutive quarterly dividend, showcasing its commitment to shareholder returns despite profitability fluctuations.
See More
