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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Primis Financial
Primis Financial (FRST) investor relations material
Primis Financial Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary23 Oct, 2026
Executive summary
Q3 net income available to common shareholders was $8.67 million, or $0.35 per diluted share, versus $6.83 million and $0.28 a year ago; pre-tax, pre-provision earnings were $11.96 million.
Net interest margin expanded 21 bps QoQ to 3.66%; excluding a $0.7 million interest recovery, NIM was 3.59%, up 14 bps QoQ.
Core Bank adjusted ROA was 1.42%; mortgage market headwinds continued to weigh on consolidated results.
Total assets were $4.30 billion, loans held for investment were $3.50 billion and deposits were $3.47 billion at quarter-end.
Financial highlights
Net interest income was $36.3 million versus $29.0 million YoY; excluding the $0.7 million recovery, NII was $35.6 million, up 23% YoY.
Noninterest income was $12.9 million versus $12.0 million YoY and $22.0 million in Q2; Q2 included a $5.9 million investment gain.
Noninterest expense was $37.2 million versus $32.3 million YoY; core operating expense burden was $24.2 million, versus $24.9 million in Q2 and $21.6 million a year ago.
Reported 9M net income was $25.41 million versus $31.90 million; adjusted 9M operating net income was $22.3 million, up 211% YoY, excluding investment gains and other nonrecurring items.
Outlook and guidance
Management expects incremental margin expansion of ~4–5 bps over time as loans reprice over the next 2–3 quarters; gains are expected to be less pronounced than in Q3.
Loan growth is expected near 8% for 2026 and mid-to-high single digits in 2027; core bank growth guidance is 5%–7% annually.
Deposit growth is expected at 3%–5% for 2026, with stronger growth anticipated next year; large deposit opportunities are expected to lift year-end balances at attractive rates.
Core expenses are expected near $22.5 million per quarter in Q4, then lower from Q1 2027; vendor consolidation and statement services are expected to generate $3.0 million in annualized savings beginning early 2027.
Management sees 1% ROA in sight; mortgage net-overhead breakeven would have lifted Q3 ROAA to ~1.00%.
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Latest events from Primis Financial
- Q2 2026 net income surged on strong loan growth, margin gains, and improved asset quality.FRST
Q2 2026 - Registering up to $150M in securities, the bank targets growth via commercial and SBA lending.FRSTRegistration filing
- Shelf registration enables up to $150M in flexible securities offerings for a regional bank.FRSTRegistration filing
- Operating net income surged 242% QoQ, fueled by robust loan and deposit growth.FRSTQ1 2026
- Annual meeting to vote on directors, auditor, and executive pay, with strong ESG and governance focus.FRSTProxy filing
- Q4 2025 saw record profitability, margin gains, and robust growth across all segments.FRSTQ4 2025
- Q3 net income hit $1.2M, with margin gains and a $4.5M gain expected from a division sale.FRSTQ3 2024
- Earnings rebounded, margins held steady, and results remain preliminary pending SEC review.FRSTQ2 2024
- Q1 2025 net income soared on PFH deconsolidation, with margin and segment growth gains.FRSTQ1 2025
Next Primis Financial earnings date
Q4 202629 Jan, 2027
Primis Financial
Next Primis Financial earnings date
Q4 202629 Jan, 2027
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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.