Primis Financial Corp. (FRST) Form 8-K — Oct 23, 2026
Primis Financial Corp. (NASDAQ: FRST) reported Q3 2026 net income of $8.7 million, or $0.35 per diluted share, up from $6.8 million, or $0.28, a year earlier, with net interest income up 25% YoY to $36.3 million and net interest margin expanding to 3.66%. Operating net income for the nine months was $22.3 million ($0.90 diluted EPS), up 211% from the prior year period, though reported nine-month net income of $25.4 million trailed 2025's $31.9 million, which had benefited from a $32.0 million investment gain. Management noted retail mortgage headwinds cut the pipeline 37% and revenue by $2.3 million versus Q2, and said the company would have hit its 1.00% ROAA target absent those headwinds.
Key figures
- Eps
- 0.35
- Revenue
- Q3 2026 net interest income $36.3 million; noninterest income $12.9 million
- Net Income
- 8700000
- Total Debt
- FHLB advances $220 million; subordinated debt and notes $69.4 million
- Revenue Yoy
- Net interest income up 25% YoY (23% adjusted for interest recoveries)
- Total Assets
- 4299526000
- Cash Position
- 165085000
- Roaa
- 0.80% vs 0.70% year-ago
- Tce to ta
- 8.14%
- Total deposits
- $3.47 billion, up 4% YoY
- Gross loans hfi
- $3.5 billion, up 9% YoY
- Dividend per share
- $0.10, 60th consecutive quarterly dividend
- Net interest margin
- 3.66% (3.59% core) vs 3.18% year-ago
- Cet1 ratio estimated
- 9.62%
- Core net charge offs
- 0.17% annualized
- Nine month net income
- $25.4 million vs $31.9 million prior year
- Mortgage funded volume
- $347 million, up 12.5% YoY
- Operating eps nine month
- $0.90 vs $0.29, up 211%
- Diluted eps prior year q3
- 0.28
- Mortgage pipeline reduction
- 37% vs Q2, ~$2.3 million revenue headwind
- Tangible book value per share
- $13.81, up 18% YoY
- Nonperforming assets pct assets
- 1.43% vs 1.45% in Q2 2026
AI analysis
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