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Primis Financial (FRST) investor relations material
Primis Financial Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Oct, 2025
Executive summary
Net income for Q3 2025 was $7 million ($0.28 per share), up from $1 million ($0.05 per share) in Q3 2024, a 600% year-over-year increase, with nine-month net income at $32 million ($1.29 per share), up from $7 million ($0.29 per share) year-over-year.
Profitability improvement was driven by higher net interest margin, operating leverage, and momentum across all business lines, including mortgage warehouse and Panacea divisions.
Tangible book value per share increased to $11.71, up 12% since year-end 2024.
Non-interest-bearing checking accounts grew 16% year-over-year, improving deposit mix and reducing cost of deposits.
Quarterly cash dividend of $0.10 per share declared, marking the 56th consecutive quarterly dividend.
Financial highlights
Net interest income for Q3 2025 was $29 million, up from $28 million in Q3 2024; net interest margin rose to 3.18% from 2.97% year-over-year.
Noninterest income increased to $12 million, up 29% year-over-year, driven by mortgage banking and gains on PFH investment.
Noninterest expense was $32 million, up from $31 million, with higher legal fees and mortgage-related costs.
Return on average assets for Q3 2025 was 0.70%, and return on average tangible common equity was 9.45%.
Allowance for credit losses to total loans was 1.40% at quarter-end, down from 1.72% a year ago.
Outlook and guidance
Management expects further improvement in net interest margin and profitability in Q4 2025 and into 2026, supported by scalable business strategies and recent rate cuts.
Margin is expected to approach 3.30% by year-end or early next year, driven by asset repricing and deposit mix improvements.
Loan growth for next year anticipated at 10%-12%, with Panacea and Mortgage Warehouse divisions as key contributors.
Legal and data processing expenses are expected to normalize or decline in coming quarters.
Continued focus on increasing non-interest-bearing deposits to 20% of total deposits by 2026.
Panacea's 2026 loan growth and strategy
Drivers for achieving 3.30% net interest margin
Digital deposit stickiness despite rate cuts
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Next Primis Financial earnings date
Q4 202528 Jan, 2026
Next Primis Financial earnings date
Q4 202528 Jan, 2026
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Frequently asked questions
Primis Financial Corp operates as a bank holding company providing a range of financial services through its subsidiary, Primis Bank. It offers personal and commercial banking products including checking and savings accounts, loans, mortgages, and treasury services. The company serves individuals, small to mid-sized businesses, and professionals primarily in the Mid-Atlantic region. The company is headquartered in McLean, Virginia, and its shares are listed on the NASDAQ.
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