Primis Financial Corp. Announces Reauthorization of Stock Repurchase Program
Rhea-AI Summary
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.
Positive
- Board authorized repurchase of 750,000 common shares
- Program active from Dec 18, 2025 to Dec 18, 2026
Negative
- No obligation to repurchase any shares under the program
- Repurchases dependent on availability of funds and market conditions
News Market Reaction
On the day this news was published, FRST declined 0.59%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Key regional bank peers (NECB, PKBK, WSBF, FDBC, FINW) showed modest gains between 0.16% and 2.78%, but no momentum-cluster was flagged, suggesting FRST’s buyback news is more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Sale-leaseback deal | Positive | +4.6% | Sale-leaseback of 18 branches boosting capital, earnings and tangible book value. |
| Oct 23 | Quarterly earnings | Positive | -1.7% | Q3 2025 earnings growth with higher YTD net income and digital platform metrics. |
| Oct 06 | Earnings call notice | Neutral | -0.2% | Announcement of Q3 2025 earnings release date and investor conference call details. |
| Jul 24 | Quarterly earnings | Positive | +0.3% | Q2 2025 earnings with higher net income, Panacea gain and expense reductions. |
| Jul 08 | Earnings call notice | Neutral | -0.9% | Scheduling of Q2 2025 earnings release and call plus balance sheet snapshot. |
FRST’s shares have typically reacted in line with fundamentally positive news, with only one notable divergence following an earnings report.
Over the last six months, Primis reported several value-accretive and earnings-related developments. A sale-leaseback on Dec 08, 2025 generated roughly $58M in proceeds and lifted tangible book value projections, with shares rising 4.62%. Q3 2025 earnings on Oct 23, 2025 showed net income of $7.0M and diluted EPS of $0.28, though the stock slipped 1.72%. Earlier 2025 results highlighted rising net income, asset growth, and expanding specialty lending platforms. Against this backdrop, the new repurchase authorization extends the company’s pattern of capital actions alongside earnings growth.
Market Pulse Summary
This announcement reauthorized a Stock Repurchase Program for up to 750,000 shares, following a prior plan under which 79,549 shares were bought at an average of $10.00. FRST entered the news trading near its $13.53 52-week high and above its $10.39 200-day MA. Investors may track actual repurchase activity, future earnings reports, and broader regional bank conditions to gauge how effectively the program supports shareholder value.
Key Terms
stock repurchase program financial
rule 10b-18 regulatory
rule 10b5-1 regulatory
trading blackout periods technical
open market purchases financial
privately negotiated transactions financial
AI-generated analysis. Not financial advice.
Under the Stock Repurchase Program, the Company may repurchase shares of common stock from time to time in open market purchases or privately negotiated transactions. Any open market repurchases will be conducted in accordance with the limitations set forth in Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and other applicable legal requirements. Repurchases under the Stock Repurchase Program may also be made pursuant to a trading plan under Rule 10b5-1 under the Exchange Act, which would permit shares to be repurchased by the Company when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including the performance of the Company's stock price, general market and economic conditions, regulatory requirements, availability of funds, and other relevant considerations, as determined by the Company. The Company may, in its discretion, begin or terminate repurchases at any time prior to the Stock Repurchase Program's expiration, without any prior notice. The Stock Repurchase Program does not obligate the Company to repurchase any particular number or amount of shares of common stock.
About Primis Financial Corp.
As of September 30, 2025, Primis had
Contacts: | Address: |
Dennis J. Zember, Jr., President and CEO | Primis Financial Corp. |
Matthew A. Switzer, EVP and CFO | 1676 International Drive, Suite 900 |
Phone: (703) 893-7400 | |
Primis Financial Corp., NASDAQ Symbol FRST | |
Website: www.primisbank.com | |
Forward-Looking Statements
This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Such statements can generally be identified by such words as "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," "will," and other similar words or expressions of the future or otherwise regarding the outlook for the Company's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, but are not limited to, our expectations regarding our future operating and financial performance, including the preliminary estimated financial and operating information presented herein, which is subject to adjustment; our outlook and long-term goals for future growth and new offerings and services; our expectations regarding net interest margin; expectations on our growth strategy, expense management, capital management and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, the Company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. Factors that might cause such differences include, but are not limited to: instability in global economic conditions and geopolitical matters; the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within our primary market areas; changes in interest rates, inflation, loan demand, real estate values, or competition, as well as labor shortages and supply chain disruptions; the impact of tariffs, trade policies, and trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for
Forward-looking statements speak only as of the date on which such statements are made. These forward-looking statements are based upon information presently known to the Company's management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in the Company's filings with the Securities and Exchange Commission, the Company's Annual Report on Form 10-K for the year ended December 31, 2024, under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors," and in the Company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on these forward-looking statements.
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SOURCE Primis Financial Corp.
FAQ
How many shares did Primis Financial (FRST) authorize to buy back on December 18, 2025?
When does the Primis (FRST) repurchase program start and end?
How did Primis (FRST) execute repurchases under its prior plan?
Will Primis (FRST) use Rule 10b5-1 trading plans for buybacks?
Do Primis (FRST) shareholders have any guarantee of repurchases under the new program?
