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.

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Earnings data Q4 2023

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Earnings data Q2 2024

Earnings data Q3 2024

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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.

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Primis Financial Corp. (NASDAQ:FRST ) Q1 2022 Earnings Conference Call April 29, 2022 10:00 AM ET Company Participants Matt Switzer - CFO Dennis Zember - President and CEO Conference Call Participants Casey Whitman - Piper Sandler Feddie Strickland - Janney Montgomery Scott Broderick Preston - Stephens Inc. Operator Good day, and welcome to the Primis Financial Corporation First Quarter Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

Primis Financial Corp. (FRST) CEO Dennis Zember on Q1 2022 Results - Earnings Call Transcript

Announces Signing of a Definitive Agreement to Acquire SeaTrust Mortgage Company Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va. , April 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 of $4.6 million for the quarter ended March 31, 2022, compared to $7.7 million for the quarter ended December 31, 2021.

Primis Financial Corp. Reports Basic and Diluted Earnings per Share from Continuing Operations of $0.19 for the First Quarter of 2022

MCLEAN, Va. , April 18, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release first quarter 2022 results after the market closes on Thursday, April 28, 2022.

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

Panacea to offer banking and lending services to eligible MMS members   LITTLE ROCK, Ark. , April 12, 2022 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Financial Corp. that provides financial services for physicians, dentists, and veterinarians through all stages of their training and practice, has partnered with the Massachusetts Medical Society (MMS), the largest organization of physicians in Massachusetts, with over 25,000 members across all specialties and employment settings, to provide preferred physician-centric banking services to MMS members.

Panacea Financial Announces Partnership with Massachusetts Medical Society (MMS)

The average of price targets set by Wall Street analysts indicates a potential upside of 25.5% in Primis Financial (FRST). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

How Much Upside is Left in Primis Financial (FRST)? Wall Street Analysts Think 25%

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Primis Financial Corp. (FRST) CEO Dennis Zember on Q4 2021 Results - Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of 11.54% and 6.11%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Q4 Earnings and Revenues Surpass Estimates

MCLEAN, Va., Jan. 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 of $7.7 million for the quarter ended December 31, 2021, compared to $3.9 million for the quarter ended September 30, 2021.

Reports Diluted Earnings per Share from Continuing Operations of $0.31 for the Fourth Quarter of 2021

MCLEAN, Va., Jan. 11, 2022 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release fourth quarter 2021 results after the market closes on Thursday, January 27, 2022.

Primis Financial Corp. Announces Date for Fourth Quarter 2021 Earnings Release and Conference Call

LITTLE ROCK, Ark., Nov. 16, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Financial Corp. focused on providing financial services for doctors at all stages of their career, announces a significant expansion of its Practice Solutions ("PPS") division with the hiring of several industry veterans.

Panacea Financial Significantly Expands its Practice Solutions Division

Primis Financial Corp. (FRST) CEO Dennis Zember on Q3 2021 Results - Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of 0.00% and -3.50%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Meets Q3 Earnings Estimates

MCLEAN, Va., Oct. 28, 2021 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary Primis Bank (the "Bank"), today reported net income of $3.9 million for the quarter ended September 30, 2021, compared to $10.3 million for the quarter ended June 30, 2021.

Primis Financial Corp. Reports Diluted Earnings per Share from Continuing Operations of $0.25 for the Third Quarter of 2021

Primis Financial (FRST) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Primis Financial (FRST) to Report a Decline in Earnings: What to Look Out for

LITTLE ROCK, Ark., Oct. 15, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Financial Corp. that provides financial services for physicians and dentists through all stages of their training and practice, has partnered with the Colorado Medical Society (CMS), the premier professional organization for Colorado physicians, with over 7,500 members across all specialties and employment settings, to provide preferred physician-centric banking services to CMS members.

Panacea Financial Announces Partnership with Colorado Medical Society (CMS)

MCLEAN, Va., Oct. 14, 2021 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) (the "Company") today announced that it will release third quarter 2021 results after the market closes on Thursday, October 28, 2021.

Primis Financial Corp. Announces Date for Third Quarter 2021 Earnings Release and Conference Call

GLEN ALLEN, Va., Sept. 23, 2021 /PRNewswire/ -- Primis Bank (the "Bank"), the wholly-owned subsidiary of Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), announced today that it has entered into an agreement with Southern Trust Mortgage, LLC ("STM"), a regional mortgage banking company and an affiliate of the Bank, whereby STM will repurchase all of the Bank's common membership interests and a portion of the Bank's preferred interests in STM.

Primis Financial Corp. Announces Sale of Minority Interest in Southern Trust Mortgage, LLC

Primis Financial (FRST) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Down 9.4% in 4 Weeks, Here's Why Primis Financial (FRST) Looks Ripe for a Turnaround

LITTLE ROCK, Ark., Sept. 10, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Financial Corp. that provides financial services for physicians and dentists through all stages of their training and practice, has joined the American Association of Orthopaedic Surgeons' (AAOS) Member Advantage Program, an exclusive AAOS member-only program that offers a wide range of discounts and member savings on the most reliable and relevant products and services.

Panacea Financial Joins the American Academy of Orthopaedic Surgeons' (AAOS) Member Advantage Program

LITTLE ROCK, Ark., Aug. 5, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Bank that provides financial services to doctors and doctors-in-training, today announced a partnership with the American Academy of Otolaryngology–Head and Neck Surgery (AAO-HNS), one of the world's largest organizations representing specialists who treat the ears, nose, throat, and related structures of the head and neck.

Panacea Financial Announces Partnership with the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS)

Primis Financial Corp. (FRST) CEO Dennis Zember on Q2 2021 Results - Earnings Call Transcript

Primis Financial (FRST) delivered earnings and revenue surprises of 61.54% and 2.49%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Primis Financial (FRST) Q2 Earnings and Revenues Beat Estimates

MCLEAN, Va., July 29, 2021 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary Primis Bank (the "Bank"), today reported net income of $10.3 million for the quarter ended June 30, 2021, compared to $9.4 million for the quarter ended March 31, 2021.

Primis Financial Corp. Reports Diluted Earnings per Share of $0.42 for the Second Quarter of 2021

LITTLE ROCK, Ark., July 27, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis that provides financial services for doctors-in-training and practicing doctors, today announced the launch of Panacea Practice Solutions ("PPS") as the commercial division of Panacea.

News for Primis Financial Corp. Stock (FRST)