Primis Financial Corp. (FRST)

In Q1 2025, Primis Financial reported a net income of $2.7 million, improving from a previous net loss. Nasdaq scheduled a hearing regarding the company's delisting process, which was stayed. Q2 2025 saw a net income of $8.4 million, driven by the sale of partial ownership in Panacea Financial Holdings. Q3 2025 reported a net income of $7.0 million, missing the Zacks Consensus Estimate, but revenues surpassed expectations, and a quarterly cash dividend of $0.10 per share was declared. Over the past six months, FRST stock has increased, but year-to-date and over the last year, it has decreased.

The banking industry experiences seasonal trends in demand, with loan demand typically low in late January and February, surging from March through May or later, and then remaining relatively flat through the summer before increasing again from October through early January. Investment services see increased demand in December and early January. Primis Financial Corp. acknowledges mortgage warehouse seasonality and highlights strong retention of its core bank deposit base.

Primis Financial Corp. operates as the bank holding company for Primis Bank, offering financial services to individuals and small to medium-sized businesses in the United States. The company is in the Finance sector, specifically Major Banks or Regional Banks, providing traditional banking services with digital solutions. Its major products and services include deposit products like checking, savings, and money market accounts, and lending products such as consumer and commercial loans, along with other services like debit cards and online banking.

Primis Financial Corp. operates primarily through Primis Bank, with approximately 24 full-service branches in Virginia and Maryland. The company also serves customers through online and mobile applications, and its mortgage segment originates mortgages across a majority of the United States.

Primis Financial Corp. emphasizes community values, customer focus, and integrity. The company actively engages in community involvement, prioritizing initiatives such as empowering women and girls, advancing STEM opportunities, and educating on elder financial abuse. Its flagship program, "Primis Works," received an ABA Diversity, Equity and Inclusion award. Customer reviews on WalletHub show a rating of 3.4 out of 5 stars, highlighting attractive interest rates and an easy application process, but also mentioning difficulties with customer service and database issues.

Primis Financial Corp. has significant institutional ownership, ranging from 68.81% to 88.49% of the company's shares. Major institutional owners include BlackRock, Inc., Banc Funds Co Llc, and Mendon Capital Advisors Corp. The largest individual shareholder is Castle Creek Capital Partners IV LP, owning 9.03% of the company.