Primis Financial Stock Price, News & Analysis

Primis Financial Corp. (NASDAQ: FRST) is a financial holding company for Primis Bank, a commercial bank that provides financial services to individuals and small- and medium-sized businesses. According to company disclosures, Primis Bank delivers a range of commercial banking services and deposit products through a network of twenty-four full-service branches in Virginia and Maryland, as well as through online and mobile applications.

The company focuses on originating loans secured mainly by commercial real estate and other secured and unsecured commercial loans to small and medium-sized businesses across several industries, along with loans to individuals for a variety of purposes. On the funding side, Primis Bank offers checking (including NOW accounts), savings, money market accounts and certificates of deposit, supporting its lending activities with a diversified deposit base.

Business segments and lines of business

Primis Financial Corp. reports operating segments that include Primis Bank, Primis Mortgage and Other. Primis Mortgage is a mortgage banking platform that originates residential mortgage loans, including construction-to-permanent products, and contributes fee-based income and loan production to the broader organization. The Primis Bank segment encompasses the core community banking franchise, national lending strategies and related deposit-gathering activities.

Within its banking subsidiary, management highlights several strategic lines of business. The core community bank operates the 24 banking offices in Virginia and Maryland and represents a substantial portion of the company’s balance sheet. This core franchise is supported by what the company describes as an enviable base of core deposits and noninterest-bearing checking accounts. Primis also emphasizes national strategies such as mortgage warehouse lending and the Panacea division, which are funded through a digital deposit platform.

Geographic footprint and delivery channels

Primis Bank’s physical presence is centered in Virginia and Maryland through its full-service branches. Beyond its branch network, the bank provides services through certain online and mobile applications and describes a fully digital banking platform that supports customers nationwide through various lines of business. This digital platform is used to fund national strategies and is positioned by the company as scalable, with deposits gathered outside the traditional branch footprint.

For commercial customers, the bank references a proprietary banking app for commercial depositors that is designed to drive new sales independently of traditional lending efforts in its region. The company also highlights its proprietary V1BE service, which supports commercial clients in its footprint and is associated with a meaningful level of commercial checking balances. Primis has indicated that it is enhancing V1BE to make it easier to license to other banks.

Loan portfolio focus and asset mix

Primis Financial Corp. states that its lending activities are concentrated in loans secured mainly by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses. It also extends loans to individuals for various purposes. The company’s disclosures show that loans held for investment constitute a significant portion of total assets, with the core community bank, mortgage warehouse lending and the Panacea division all contributing to loan growth.

The mortgage warehouse line of business provides short-term funding to mortgage originators, with balances and committed facilities that have grown meaningfully over recent reporting periods. The Panacea division focuses on lending and deposit relationships in the healthcare sector, and company materials note that Primis Bank remains the exclusive banking partner for loans and deposits originated through this division.

Deposit base and digital platform

Primis describes a deposit base that includes both branch-based and digital deposits. The core community bank in Virginia and Maryland maintains a mix of interest-bearing and noninterest-bearing accounts, with management emphasizing low-cost core deposits and the absence of brokered deposits in certain periods discussed in its earnings releases. The company also operates a digital deposit platform that funds national strategies such as mortgage warehouse lending and Panacea-related activities.

Company disclosures indicate that this digital platform holds a substantial volume of deposits and is characterized by management as one of the safest and most functional deposit accounts in the nation. The bank notes that a significant portion of digital accounts have been open for multiple years and that many new accounts are sourced through customer referrals, underscoring the importance of this channel in Primis’s funding strategy.

Corporate structure and governance

Primis Financial Corp. is incorporated in Virginia and its common stock is listed on the NASDAQ under the symbol FRST, as reflected in its SEC filings. The company has amended its Articles of Incorporation and bylaws to declassify its board of directors beginning with the 2026 annual meeting of stockholders, and it has adopted an Omnibus Incentive Plan following stockholder approval. These governance-related changes are detailed in the company’s Form 8-K filings.

Primis Financial Corp. has also reported on matters submitted to a vote of stockholders, including the election of directors, approval of amendments to its Articles of Incorporation, approval of the Omnibus Incentive Plan, ratification of its independent registered public accounting firm and advisory votes on executive compensation. These items illustrate the company’s ongoing public company governance and reporting obligations.

Capital management and strategic transactions

The company has disclosed several capital management actions and strategic transactions in recent periods. Through a Form 8-K and related press release, Primis announced a stock repurchase program authorizing the repurchase of up to 750,000 shares of its common stock over a defined period, with repurchases permitted in open market or privately negotiated transactions subject to applicable laws and regulations. The program may be suspended, modified or terminated at the company’s discretion and does not obligate Primis to repurchase a specific number of shares.

Primis has also reported the deconsolidation of its investment in Panacea Financial Holdings, recognizing a pre-tax gain and revaluing its retained investment based on an independent third-party valuation. Subsequent disclosures describe a signed non-binding term sheet to sell a portion of its Panacea shares, with expected proceeds and gains. In addition, Primis Bank has entered into a sale-leaseback transaction covering multiple branch properties, recognizing a pre-tax gain and using the proceeds to restructure parts of the balance sheet, including securities portfolio actions and subordinated debt strategies.

Earnings reporting and investor communications

Primis Financial Corp. regularly reports its financial results and other material events through press releases and Form 8-K filings. The company announces quarterly earnings release dates and associated conference calls and webcasts for analysts and investors. These communications typically include information on net income, earnings per share, loan and deposit balances, net interest margin, noninterest income and noninterest expense, as well as commentary from management on strategic initiatives and operating performance.

The company also prepares investor presentations that are furnished as exhibits to its Form 8-K filings. These materials provide additional detail on segment performance, balance sheet composition, capital ratios and strategic priorities. Primis’s filings note that such presentations may be used in meetings with current and potential investors, analysts, lenders, business partners and other stakeholders.

Position within the commercial banking sector

Within the commercial banking industry, Primis Financial Corp. positions itself as a bank holding company focused on serving individuals and small- and medium-sized businesses through a combination of community banking, specialized lines of business and a digital platform. Its operations span traditional branch-based banking in Virginia and Maryland, mortgage banking through Primis Mortgage, mortgage warehouse lending and healthcare-focused banking through the Panacea division.

For investors researching FRST stock, key themes in the company’s disclosures include its emphasis on core community banking, the development of national lending and deposit strategies, the use of technology such as proprietary commercial banking applications and V1BE, and active capital management through transactions and stock repurchase programs. All of these elements are documented in Primis’s public news releases and SEC filings and form the basis of its profile as a publicly traded commercial banking organization.