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.
Key figures
- Eps
- 0.38
- Guidance
- Total earnings impact of $6.1 million expected from core consolidation, beginning late 2026
- Net income
- 9400000
- Dividend per share
- 0.1
- Net interest income
- 33800000
- Non interest income
- 22000000
- Npas reduction percentage
- 37%
- Tangible book value per share
- 13.72
AI analysis
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