Primis Financial Corp.

Primis Financial Corp. is a holding company, which engages in the provision of financial services through its subsidiary Sonabank. The firm focuses on making loans secured primarily by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in a number of industries, as well as loans to individuals for a variety of purposes. It also invests in real estate related securities, including collateralized mortgage obligations and agency mortgage backed securities. The company was founded by Georgia S. Derrico and R. Roderick Porter in July 28, 2004 and is headquartered in McLean, VA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Primis Financial Corp. reports strong Q4 performance and eyes growth

Primis Financial Corp. delivered a strong performance in Q4 2022 with notable loan growth and strategic investments in growth areas.
While facing challenges such as increased credit loss provisions and expense management, the company is well-positioned to capitalize on opportunities in new business lines and digital banking.
Management's proactive approach to credit quality and risk management underscores a commitment to sustainable growth and profitability in the coming year.

Primis Financial Corp. reports $5.7M net income, focuses on digital growth

Primis Financial Corp. showcased resilience in net income despite one-time costs, with Core Bank and Digital Platform driving positive performance.
Strong pipelines in Panacea and Life Premium Finance units, along with successful deposit-raising efforts, position the company for growth.
Challenges in cost management and effective communication of safety measures present areas for improvement, while opportunities in digital expansion and customer trust are key focus areas.

Primis Financial Corp. reports robust Q2 performance amid challenges

Primis Financial Corp. showcased strong performance in Q2 with a focus on cost savings, credit quality, and digital success amidst challenges.
Management's strategic strengths in branch consolidations, gain-on-sale strategy, and profitability goals position the company for future growth.
Challenges from COVID impact, employee fraud incidents, and analyst inquiries highlight areas for improvement and risk management.
Opportunities in leveraging digital platforms, mortgage business profitability, and customer-centric strategies can drive sustained growth and success.

Primis Financial Corp. reports stellar Q3 performance and growth prospects

Primis Financial Corp. demonstrated robust performance across its core banking, digital, and lending divisions, with a focus on profitability and efficiency.
The company's strengths lie in its liquidity, low nonperforming assets, and strong customer retention, presenting a solid foundation for future growth.
While challenges exist in maintaining growth momentum, opportunities in digital expansion and strategic partnerships offer avenues for continued success and profitability.

Primis Financial Corp. reports mixed Q4 results, eyes growth opportunities

Primis Financial Corp. navigated challenges in the mortgage division but showcased overall improvements in key financial metrics. With a focus on core deposit growth and strong divisional performances, the company remains optimistic about future profitability and growth opportunities.

Primis Financial Corp. reports strong Q1 performance and growth opportunities

Primis Financial Corp. demonstrated resilience and growth in Q1 2024, with improvements in core earnings and total assets. While facing challenges in net interest income and credit risk exposure, the company has opportunities to optimize margins and enhance credit quality. Strategic focus on key divisions and capital allocation can drive future success.

Primis Financial Corp. (FRST) reports robust Q2 earnings growth

Primis Financial Corp. (FRST) delivered a strong performance in Q2 2024, marked by improved earnings, solid margins, and a focus on growth strategies. While challenges in achieving targeted loan growth exist, the company's emphasis on core profitability and value creation presents promising opportunities for future success.

Primis Financial Corp. reports solid Q3 earnings amidst accounting challenges

Primis Financial Corp. delivered solid Q3 performance with core earnings of $10 million, driven by consumer program contributions and growth in the Panacea division. The company faces challenges in managing accounting corrections and controlling expenses but sees opportunities in new commercial relationships and cost optimization. Transparency through forward-looking statements and a focus on core bank performance are key strengths for Primis Financial Corp.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Primis Financial (FRST) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.19 per share a year ago.

Primis Financial (FRST) Misses Q1 Earnings Estimates

Successfully Deployed New Digital Platform at Scale Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , April 27, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income of $5.8 million for the quarter ended March 31, 2023, compared to $3.1 million for the quarter ended December 31, 2022 and $4.6 million for the quarter ended March 31, 2022.

Primis Financial Corp. Reports Basic and Diluted Earnings per Share for the First Quarter of 2023

MCLEAN, Va. , April 14, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release first quarter 2023 results after the market closes on Thursday, April 27, 2023.

Primis Financial Corp. Announces Date for First Quarter 2023 Earnings Release and Conference Call

MCLEAN, Va. , March 13, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported several mid-quarter results associated driven by various deposit growth strategies.

Primis Financial Corp. First Quarter of 2023 -- Update as to Mid-Quarter Results

Panacea to offer its full suite of banking products to eligible PAMED physician members   LITTLE ROCK, Ark. , Jan. 31, 2023 /PRNewswire/ -- Panacea Financial (Panacea), which provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the Pennsylvania Medical Society (PAMED), the only statewide organization dedicated to representing all physicians in the Commonwealth, with over 11,000 members across all specialties and employment settings, to provide preferred physician-centric banking services to PAMED members.

Panacea Financial Announces its Partnership with Pennsylvania Medical Society (PAMED)

Primis Financial Corp. (NASDAQ:FRST ) Q4 2022 Earnings Conference Call January 27, 2023 10:00 AM ET Company Participants Matthew Switzer - Executive Vice President and Chief Financial Officer Dennis Zember - President and Chief Executive Officer Conference Call Participants Casey Whitman - Piper Sandler Christopher Marinac - Janney Montgomery Scott Operator Hello and thank you for standing by. My name is Regina and I will be your conference operator today.

Primis Financial Corp. (FRST) Q4 2022 Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of -89.66% and 19.52%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Q4 Earnings Miss Estimates

Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , Jan. 26, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income from continuing operations of $3.1 million for the quarter ended December 31, 2022, compared to $5.1 million for the quarter ended September 30, 2022 and $7.7 million for the quarter ended December 31, 2021.

Primis Financial Corp. Reports Basic and Diluted Earnings per Share from Continuing Operations for the Fourth Quarter of 2022

Investors need to pay close attention to Primis Financial (FRST) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Primis Financial (FRST) Stock?

MCLEAN, Va., Jan. 13, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release fourth quarter 2022 results after the market closes on Thursday, January 26, 2023.

Primis Financial Corp. Announces Date for Fourth Quarter 2022 Earnings Release and Conference Call

Primis Financial Corp. (NASDAQ:FRST ) Q3 2022 Results Conference Call October 28, 2022 10:00 AM ET Company Participants Matthew Switzer - Chief Financial Officer Dennis Zember - President and CEO Conference Call Participants Freddie Strickland - Janney Montgomery Scott Operator Good day and welcome to today's Primis Financial Corporation Third Quarter Earnings Call. All lines have been placed on mute to prevent any background noise.

Primis Financial Corp. (FRST) Q3 2022 Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of -22.22% and 15.23%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Q3 Earnings Lag Estimates

Adoption of Stock Repurchase Program Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , Oct. 27, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income from continuing operations of $5.1 million for the quarter ended September 30, 2022, compared to $5.0 million for the quarter ended June 30, 2022 and $6.2 million for the quarter ended September 30, 2021.

Primis Financial Corp. Reports Basic and Diluted Earnings per Share from Continuing Operations for the Third Quarter of 2022

MCLEAN, Va. , Oct. 7, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release third quarter 2022 results after the market closes on Thursday, October 27, 2022.

Primis Financial Corp. Announces Date for Third Quarter 2022 Earnings Release and Conference Call

Panacea to offer its PRN Personal Loan to eligible PDA dentist and dental student members  LITTLE ROCK, Ark. , Sept. 15, 2022 /PRNewswire/ -- Panacea Financial (Panacea), which provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the Pennsylvania Dental Association (PDA) to provide its PRN Personal Loans to PDA members, which includes ~5,200 dentist members.

Panacea Financial Announces its Endorsed Partnership with Pennsylvania Dental Association (PDA)

Primis Financial (FRST) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Down 7.2% in 4 Weeks, Here's Why You Should You Buy the Dip in Primis Financial (FRST)

Panacea to offer banking and lending services to eligible AAP members LITTLE ROCK, Ark. , Aug. 29, 2022 /PRNewswire/ -- Panacea Financial (Panacea), which provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the American Academy of Periodontology (AAP), the largest professional society of Periodontists in the nation, with over 7,500 members, to provide preferred doctor-centric banking services to AAP members nationwide.

Panacea Financial Announces Partnership with American Academy of Periodontology (AAP)

Panacea to offer banking and lending services to eligible GDA members LITTLE ROCK, Ark. , Aug. 15, 2022 /PRNewswire/ -- Panacea Financial (Panacea), which provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the Georgia Dental Association (GDA), the premier dental association in the state, with over 3,600 members, to provide preferred dental-specific student loan refinancing to GDA members.

Panacea Financial Announces Partnership with Georgia Dental Association (GDA)

Primis Financial Corp. (NASDAQ:FRST ) Q2 2022 Earnings Conference Call July 29, 2022 10:00 AM ET Company Participants Matt Switzer - CFO Dennis Zember - President and CEO Conference Call Participants Andrew Terrell - Stephens Christopher Marinac - Janney Montgomery Scott Operator Good day, and welcome to the Primis Financial Corp. 2022 Second Quarter Earnings Call. All participants will be in listen-only mode.

Primis Financial Corp. (FRST) CEO Dennis Zember on Q2 2022 Results - Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of 14.29% and 3.56%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Q2 Earnings and Revenues Top Estimates

Completed the Previously Announced Acquisition of SeaTrust Mortgage Company Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , July 28, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income from continuing operations of $5.0 million for the quarter ended June 30, 2022, compared to $4.6 million for the quarter ended March 31, 2022 and $8.8 million for the quarter ended June 30, 2021.

Primis Financial Corp. Reports Basic and Diluted Earnings per Share from Continuing Operations for the Second Quarter of 2022

MCLEAN, Va. , July 11, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release second quarter 2022 results after the market closes on Thursday, July 28, 2022.

Primis Financial Corp. Announces Date for Second Quarter 2022 Earnings Release and Conference Call

Panacea to offer banking and lending services to eligible PCSO members   LITTLE ROCK, Ark. , July 6, 2022 /PRNewswire/ -- Panacea Financial (Panacea), which provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the Pacific Coast Society of Orthodontists (PCSO) to provide preferred doctor-centric banking and lending services to PCSO members.

Panacea Financial Announces Partnership with Pacific Coast Society of Orthodontists (PCSO)

Primis Financial (FRST) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in Primis Financial (FRST): Can Its 5.8% Jump Turn into More Strength?

GLEN ALLEN, Va. , June 1, 2022 /PRNewswire/ -- Primis Bank (the "Bank"), the wholly-owned subsidiary of Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), has completed its acquisition, effective May 31, 2022, of SeaTrust Mortgage Company ("SeaTrust").

News for Primis Financial Corp. Stock (FRST)