Primis Financial Corp. has announced its financial results for the third quarter of 2026, showcasing a notable increase in net income. The company reported a net income of $8.7 million, or $0.35 per diluted share, for the three months ending September 30, 2026, marking a significant rise from $6.8 million, or $0.28 per diluted share, during the same period in 2025. This performance underscores the company’s resilience amid challenging market conditions.
The results are particularly significant as they reflect Primis's ability to navigate a tough retail mortgage environment, which saw a 37% reduction in its mortgage pipeline. Dennis J. Zember, Jr., President and CEO, noted that the company’s core margin of 3.59% and operational strategies are driving steady growth. He stated, "Our core earnings engine delivered a solid quarter in the face of unprecedented headwinds that reduced our retail mortgage pipeline. We are already making changes to close the gap during this period of lower volumes while preserving our ability to benefit when volumes eventually recover."
Primis Financial Corp., classified under the SIC code 6022 for State Commercial Banks, operates primarily through its subsidiary, Primis Bank. The company is listed on the Nasdaq under the ticker symbol FRST and is headquartered in McLean, Virginia. Recent filings include an 8-K on October 23, 2026, which outlines the financial results and other relevant disclosures.
In addition to its financial results, Primis has declared a quarterly cash dividend of $0.10 per share, payable on November 20, 2026, to shareholders of record as of November 6, 2026. This dividend declaration is a positive signal to investors, indicating the company's commitment to returning value to its shareholders.
The filing also included an investor presentation, which management plans to use for future communications with investors, analysts, and other stakeholders. The presentation materials are accessible on the company’s website, further enhancing transparency and engagement with current and potential investors.
Looking ahead, Primis Financial Corp. is expected to continue focusing on its core banking operations while adapting to the evolving market landscape. The company’s proactive measures to address current challenges may position it favorably for future growth as market conditions improve.
Overall, the recent financial results and the dividend announcement reflect a strong performance by Primis Financial Corp. in a competitive banking environment. Investors and analysts will likely keep a close eye on the company’s strategies and performance as it navigates the complexities of the state commercial banking sector.