Primis Financial (FRST) Company Report

Primis Bank, a wholly-owned subsidiary of Primis Financial Corp. (FRST), completed a sale-leaseback transaction for 18 branch properties on December 5, 2025, for an aggregate purchase price of approximately $58 million.
The transaction is expected to generate a pre-tax gain of $50 million and an after-tax gain of $38 million or $1.54 per share.
The company anticipates the transaction to be accretive to tangible book value (TBV) by 13.2% and recurring earnings by 15.0%.
Primis Bank will lease back the properties for an initial term of 20 years at an initial annual base rent of $4.7 million, which will increase by 2% per annum.

5 days ago

Primis Financial Corp. Reports Strong Q3 2025 Earnings with Improved Profitability and Loan Growth

FRST

Earnings

Guidance Update

Revenue Acceleration/Inflection

Primis Financial Corp. reported net earnings of $6.8 million and $0.28 per share for Q3 2025, with a reported Return on Assets (ROA) of 70 basis points and an adjusted ROA of approximately 90 basis points.
The company's Net Interest Margin (NIM) improved to 3.18% in Q3 2025, up from 2.86% in the prior quarter, driven by a 16% year-over-year growth in non-interest-bearing checking accounts and a nearly 20% reduction in the cost of deposits.
Gross loans held for investment increased almost 9% annualized, or approximately 15% annualized including reclassified Panacea loans, while average earning assets grew 10% annualized in Q3 2025.
Key growth drivers include the Mortgage Warehouse division, with average balances of $210 million and $1.6 million in pre-tax earnings, and the Panacea Financial Division, which saw loan balances rise to $530 million and deposits increase 50% year-over-year to $132 million.
Management aims for a 1% ROA and expects the net interest margin to reach 3.30% by early 2026, with a medium-term goal of non-interest-bearing deposits comprising 20% of total deposits.

Oct 24, 2025, 2:00 PM

Primis Financial Corp. Reports Strong Q3 2025 Earnings and Margin Expansion

FRST

Earnings

Revenue Acceleration/Inflection

Guidance Update

Primis Financial Corp. reported net earnings of $6.8 million and $0.28 per share for Q3 2025, with a reported Return on Assets (ROA) of 70 basis points, which would be approximately 90 basis points on an adjusted basis.
The net interest margin improved to 3.18% in Q3 2025, up from 2.86% in the prior quarter, supported by a 16% year-over-year growth in non-interest-bearing checking accounts and a core bank cost of deposits at 173 basis points.
Gross loans held for investment increased almost 9% annualized in Q3 2025, or approximately 15% annualized including Panacea loans reclassified to held for sale, while average earning assets grew 10% annualized.
The Mortgage division achieved $1.9 million in pre-tax earnings (excluding legal fees), and the Panacea Financial Division saw loan balances average $530 million and deposits reach $132 million with a cost of deposits at 1.37%.
Management anticipates reaching a 1% ROA goal with pre-tax earnings over $13 million in the near term, projecting the net interest margin to approach 3.30% by early 2026 and targeting 10% to 12% loan growth for the next year.

Oct 24, 2025, 2:00 PM

Premise Financial Corp. Reports Strong Q3 2025 Earnings and Margin Expansion

FRST

Earnings

Guidance Update

New Projects/Investments

Premise Financial Corp. reported net earnings of $6.8 million or $0.28 per share for Q3 2025, a substantial increase from the prior year, with ROA improving to 70 basis points and an adjusted core ROA closer to 90 basis points.
The Net Interest Margin (NIM) expanded to 3.18% in Q3 2025, up from 2.86% in Q2 2025, driven by new loan yields near 7% and a lower cost of deposits, with management expecting to reach 3.3% by Q1 2026.
The company saw robust balance sheet growth, with gross loans held for investment increasing almost 9% annualized and non-interest bearing deposits growing 10% annualized in Q3 2025.
Strategic segments contributed significantly, with the mortgage division generating $1.9 million in pretax earnings and the mortgage warehouse group adding $1.6 million in pretax earnings. Panacea's loan balances grew to $530 million and deposits to $132 million, with a cost of deposits at 1.37%.

Oct 24, 2025, 2:00 PM

Primis Financial Corp Reports Strong Q3 2025 Earnings and Margin Expansion

FRST

Earnings

Guidance Update

New Projects/Investments

Primis Financial Corp reported net earnings of $6.8 million and $0.28 per share for Q3 2025, a significant increase from $2 million and $0.08 per share in Q3 2024. The reported Return on Assets (ROA) improved to 70 basis points, with an adjusted core ROA closer to 90 basis points.
The net interest margin (NIM) was 3.18% in Q3 2025, up from 2.86% in the prior quarter and 2.97% in the year-ago period. The company anticipates reaching a 3.30% margin by the end of 2025 or early 2026.
Gross loans held for investment increased almost 9% annualized in Q3 2025, or approximately 15% annualized when including Panacea loans reclassified to held for sale. Non-interest-bearing deposits increased 10% annualized in the quarter, contributing to a nearly 20% reduction in the cost of deposits compared to a year ago.
Key divisions demonstrated strong performance, with the Mortgage division funding 59% more loans in September 2025 compared to September 2024, and Panacea's average loan balances growing to $530 million.