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Primis Financial Corp. Reports Fourth Quarter Earnings for 2025

Primis Financial Corp. (NASDAQ: FRST) has recently shared its earnings results for the fourth quarter of 2025, indicating a significant turnaround from the previous year. The company, which also operates its wholly-owned subsidiary, Primis Bank, registered a net income available to common shareholders of $30 million for the period ending December 31, 2025, translating into earnings per share (EPS) of $1.20, a stark contrast to the net loss of $23 million reported for the same quarter in 2024.

Financial Performance Highlights

The full-year financial snapshot for Primis reflects a fruitful year, with net income soaring to $61 million, yielding an EPS of $2.49 compared to a loss of $16 million in 2024. This considerable improvement in earnings is attributed to several strategic maneuvers throughout 2025, which bolstered the company’s financial standing and set a robust foundation for continued success in the upcoming year.

Yearly Improvements

Primis's total assets surged to approximately $4.0 billion, with significant growth in gross loans — up 14% to $3.28 billion — and total deposits increasing by 7% over the previous year to reach $3.4 billion. The bank also marked impressive growth in noninterest-bearing deposits, which rose by 26%, demonstrating improved client confidence and engagement.

CEO Dennis J. Zember, Jr. underscored that 2025 was a foundational year focusing on optimizing balance sheet gains, enhancing capital levels, and setting the stage for robust performance in 2026. He emphasized the company’s proactive stance, stating, “The core bank along with all our divisions had the best year in the last decade.”

Division Updates and Strategic Focus

Primis’s operational strength is underpinned by its core community bank, which is pivotal for driving stable profitability. The bank operates 24 branches across Virginia and Maryland, representing almost two-thirds of its total balance sheet. Management highlights the bank's capacity to maintain low concentrations of risk and significant pipeline growth.

Mortgages and Warehouse Lending

The mortgage division exhibited remarkable growth, closing mortgage volume at $378 million for Q4 2025, up 84% from the previous year. Additionally, the mortgage warehouse segment saw outstanding loan balances balloon to $318 million, an impressive 398% increase year-on-year.

Panacea Financial’s Growth

Panacea Financial, another strategic arm of Primis, continues to thrive, with outstanding loans rising 25% to $544 million and customer deposits up 39% over the same period in 2024. This segment is increasingly recognized as a go-to financial platform for healthcare professionals.

Digital Platform Funding

Primis’s digital platform has successfully supported national strategic objectives, ending the quarter with about $1.0 billion in deposits, showcasing significant scalability and resilience.

Future Outlook

As Primis Financial Corp. looks forward to 2026, they anticipate further advancements in profit margins and operational efficiency driven by their focus on expanding high-quality earning assets while managing costs effectively. The current strong position is expected to catalyze future growth, enabling the bank to sustain profitability and shareholder value.

Moreover, the board has declared a quarterly dividend of $0.10 per share, marking the 57th consecutive quarter of dividend payments.

Conclusion

The recent earnings announcement from Primis Financial Corp. not only highlights successful financial management and operational strategies in 2025 but also sets an optimistic outlook for 2026. With significant improvements across various financial metrics and a commitment to innovative banking solutions, Primis is poised to enhance its market position and continue its upward trajectory in the financial services sector.

For more details about their fourth quarter results and upcoming strategies, Primis will host a conference call on January 30, 2026, further illustrating their plans moving forward.