Primis Financial Corp
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $380.2M
- Price
- $15.33
- % Change (Daily % change from the live per-ticker quote feed.)
- +0.52%
- Volume
- 103.7K
About
Primis Financial Corp. operates as the bank holding company for Primis Bank that provides various financial services to individuals, and small and medium sized businesses in the United States. The company offers deposit products, including checking, NOW, savings, and money market accounts, as well as certificates of deposits; and commercial deposit products comprising investment/sweep accounts, wire transfer services, employer services/payroll processing services, zero balance accounts, night depository services, depository transfers, merchant services, ACH originations, business debit cards, controlled disbursement accounts, and remote deposit capture services. It also provides commercial lending products, such as loans consist of lines of credit, revolving credit facilities, demand loans, term loans, equipment loans, SBA loans, stand-by letters of credit, and unsecured loans; loans for permanent financing; construction loans for commercial, multi-family, assisted living and other non-residential properties, and builder/developer lines; second asset based lending; SBA lending; financing for medical, dental, and veterinary businesses; and warehouse lending lines of credit to residential mortgage originators. In addition, the company provides consumer lending products comprising residential mortgage, home equity lines of credit, secured and unsecured personal loans, life insurance premium financing, and Panacea consumer loans. Further, it offers debit cards, ATM services, notary services, and mobile and online banking. The company was formerly known as Southern National Bancorp of Virginia, Inc. and changed its name to Primis Financial Corp. Primis Financial Corp. was founded in 2004 and is headquartered in McLean, Virginia.
Quick stats
Shares outstanding24.8M
Computed float20.7M
Float / shares83.5%
Cash runway (months)-2.6
Key info
SectorFinancial Services
IndustryBanks - Regional
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001325670
Websitehttps://www.primisbank.com
AI Summary
AI-generated1/14
majorbullishearnings
Primis Financial Corp. Reports Strong Results for the Second Quarter of 2026
Primis Financial reported Q2 net income of $9.4 million, or $0.38 per diluted share, a significant increase from $2.4 million, or $0.10 per share, in the prior year. The growth was driven by a 34% rise in net interest income to $33.8 million and noninterest income gains, partially offset by a $5.5 million provision for credit losses largely tied to one nonaccrual credit.
Asset quality improved markedly during the quarter, with nonperforming assets decreasing 37% to $63 million and the allowance for NPAs increasing to 73%. The Board declared a quarterly dividend of $0.10 per share, marking the fifty-ninth consecutive dividend payment.
Management announced that its core consolidation initiative is expected to deliver $6.1 million in annual earnings improvements, split between revenue and expense savings, starting in late 2026. Tangible book value per share rose 19.5% year-over-year to $13.72.
Red flags
- Provision for credit losses increased to $5.5 million, up from $1.5 million in the prior quarter, largely due to one nonaccrual credit
- $0.9 million settlement expense related to a mortgage recruiting nuisance lawsuit