Primis Financial Corp Stock Price, News & Analysis

Primis Financial Corp (NASDAQ: FRST) announced a stock repurchase program authorizing the repurchase of up to 750,000 shares of common stock.

The program runs from December 18, 2025 through December 18, 2026, subject to earlier termination or exhaustion of the authorized shares. The company previously repurchased 79,549 shares at an average cost of $10.00 per share under its prior plan.

Repurchases may occur in open market or privately negotiated transactions and may follow Rule 10b-18 or a Rule 10b5-1 trading plan. The timing and amount of repurchases depend on stock performance, market and economic conditions, regulatory requirements, availability of funds, and other considerations; the program does not obligate the company to buy any specific number of shares.

Primis Financial (NASDAQ: FRST) announced a sale-leaseback covering 18 branch properties that generated approximately $58 million of proceeds and a pretax gain of $48–50 million. After restructuring charges and taxes the company expects a $38 million after-tax gain or $1.54 per share, and projects a 13.2% increase in tangible book value to $13.25 per share.

The company expects recurring earnings to rise 15.0%, net interest margin to expand to 3.46%, CET1 to increase by 0.70 points (to 9.32% consolidated), and annual pre-tax earnings tailwinds from securities, debt and BOLI actions totaling roughly $8.5 million.

Primis Financial (NASDAQ: FRST) reported 3Q25 net income $7.0M or $0.28 diluted EPS and declared a quarterly cash dividend of $0.10 per share. Year-to-date through Sept 30, 2025 net income was $32M or $1.29 EPS versus $7M YTD a year ago.

Key operating highlights: net interest margin 3.18% (core 3.15%), digital deposits >$1.0B, mortgage warehouse balances $327M (up 411% vs 12/31/24), Panacea loans $548M (+40% YoY), and core operating expense burden of $21.6M in 3Q25.

Primis Financial Corp (NASDAQ: FRST) will release its third quarter 2025 results after market close on Thursday, October 23, 2025.

The company will host a conference call and audio webcast for analysts and investors at 10:00 a.m. Eastern Time on Friday, October 24, 2025. The webcast is available at https://events.q4inc.com/attendee/859535228. Dial-in details: toll-free (888) 330-3573; toll (646) 960-0677; Conference ID 4440924. Participants are encouraged to dial in 15 minutes early. A replay will be available for seven days: toll-free (800) 770-2030; toll (609) 800-9909; Replay Access Code 4440924.

As of June 30, 2025, Primis reported $3.9 billion in total assets, $3.1 billion in total loans held for investment, and $3.3 billion in total deposits. Primis Bank operates 24 full-service branches in Virginia and Maryland.

Primis Financial Corp. (NASDAQ: FRST) reported Q2 2025 net income of $8.4 million, or $0.34 per diluted share, compared to $3.4 million ($0.14/share) in Q2 2024. For H1 2025, net income reached $31.1 million ($1.26/share), up from $5.9 million ($0.24/share) in H1 2024.

Key highlights include the sale of partial ownership in Panacea Financial Holdings generating $22.1 million in proceeds and a $7.5 million pre-tax gain. Primis Mortgage closed $323 million in loans, up 52% YoY. The company declared a quarterly cash dividend of $0.10 per share and expects to reduce quarterly expenses by approximately $1.5 million through technology cost reductions and core deposit amortization ending.

The bank's core operations showed strength with a cost of deposits of 1.79% in Q2 2025, down from 2.20% YoY, and mortgage warehouse lending grew 189% since December 2024 to $185 million.

Primis Financial Corp. (NASDAQ: FRST) has scheduled its second quarter 2025 earnings release for Thursday, July 24, 2025, after market close. The company will host a conference call and webcast for analysts and investors on Friday, July 25, 2025, at 10:00 a.m. Eastern Time.

As of March 31, 2025, Primis Financial Corp. reported total assets of $3.7 billion, total loans held for investment of $3.0 billion, and total deposits of $3.2 billion. The company operates through Primis Bank, serving Virginia and Maryland with twenty-four full-service branches.

Primis Bank (FRST) has selected Lenders Cooperative to power its small business and commercial lending operations. The partnership includes implementation of Lenders Cooperative's loan origination and servicing platform, along with their LSP (Loan Service Provider) service to enhance the bank's underwriting, processing, and closing capabilities.

The collaboration aims to automate the entire workflow for both SBA and conventional commercial loans, streamlining origination processes while maintaining regulatory compliance. This strategic move reinforces Primis Bank's commitment to delivering efficient lending solutions and accelerating capital access for small business clients.

Primis Financial Corp. (NASDAQ: FRST) has announced a signed non-binding term sheet to sell a portion of its ownership in Panacea Financial Holdings, Inc. The sale is expected to generate approximately $22 million in proceeds and result in an additional pre-tax gain of $6.5-7.0 million, as the sales price exceeds the March 31, 2025 carrying value. CEO Dennis Zember indicated that the proceeds could be used for share repurchases or accelerating company growth. Despite this partial divestment, Primis remains committed to Panacea's long-term potential and mission. As of March 31, 2025, Primis had $3.7 billion in total assets, $2.9 billion in total loans, and $3.2 billion in total deposits, operating through twenty-four branches in Virginia and Maryland.

Primis Financial Corp. (NASDAQ: FRST) has announced the deconsolidation of Panacea Financial Holdings (PFH) effective March 31, 2025. The company will record a significant pre-tax gain of $24.6 million, with an after-tax gain of approximately $20.0 million ($0.81 per share). An independent valuation determined the company's investment in PFH was worth $21.2 million, and Primis expects to recoup consolidated operating losses of $3.4 million.

The deconsolidation will improve Primis's financial metrics, including a 10 basis point increase in ROA and a 14-point decrease in operating efficiency ratio. Primis Bank will maintain its exclusive banking partnership with Panacea for loans and deposits through its Panacea division.