Primis Financial (FRST) shares soared 6.2% in the last trading session to close at $13.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.8% gain over the past four weeks.Primis Financial retained its rally for the second straight day, driven by its strength in combining efficient community banking with digital scalability. The bank has successfully expanded its presence across Virginia and Maryland, maintaining high branch d ...

Core Financial Performance - Primis Financial Corp. reported a net income of $7 million, or $0.28 per diluted share, for Q3 2025, a significant increase from $1 million, or $0.05 per diluted share, in Q3 2024 [1] - For the nine months ended September 30, 2025, net income available to common shareholders was $32 million, or $1.29 per diluted share, compared to $7 million, or $0.29 per diluted share, for the same period in 2024 [1] - The company's net interest income for Q3 2025 was $29 million, up from $28 million in Q3 2024, with a net interest margin of 3.18%, an increase from 2.97% year-over-year [11][34] Operational Highlights - The core community bank's 24 banking offices in Virginia and Maryland accounted for nearly two-thirds of the company's total balance sheet, with 20% of deposits being noninterest-bearing [4] - Primis Mortgage closed mortgage volume of $308 million in Q3 2025, a 34% increase compared to the same quarter in 2024, with pre-tax earnings rising to approximately $1.9 million [5] - Panacea Financial's loans outstanding reached $548 million, a 40% increase from Q3 2024, with customer deposits totaling $133 million, up 47% year-over-year [6] Strategic Developments - The company is enhancing its proprietary V1BE service, which supports over $200 million in commercial clients, and is working on licensing this technology to other banks [4] - The digital platform has over $1.0 billion in deposits with a cost of deposits of 4.07% in September 2025, compared to $0.9 billion at the same time in 2024 [10] - Primis has focused on divesting from consumer loans and life premium finance, while building scale and revenues in mortgage warehouse lending, which averaged $210 million in loans during Q3 2025 [12] Asset Quality and Loan Portfolio - Loans held for investment increased to $3.2 billion as of September 30, 2025, compared to $3.0 billion a year earlier, with nonperforming assets at 2.07% of total assets [19][20] - The company recorded a recovery of credit losses of $49 thousand for Q3 2025, a significant improvement from a provision for credit losses of $8 million in the same quarter of 2024 [21] - Core bank loans totaled $2.1 billion at September 30, 2025, down from $2.2 billion a year prior, while mortgage warehouse outstandings improved to $327 million [20] Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.10 per share, marking the company's fifty-sixth consecutive quarterly dividend [23] - Tangible book value per common share increased to $11.71, a 12% rise from December 31, 2024 [23]