Quarterly ResultJul 23, 2026, 04:42 PM
Primis Financial Q2 Net Income $9.4M, EPS $0.38; Declares $0.10 Dividend
AI Summary
Primis Financial Corp. reported strong financial results for the second quarter of 2026, with net income available to common shareholders increasing to $9.4 million, or $0.38 per diluted share, significantly up from the prior year. The company also declared a quarterly cash dividend of $0.10 per share. Key performance indicators such as Return on Average Assets and Net Interest Margin showed substantial year-over-year improvements, alongside a 37% reduction in nonperforming assets. Additionally, Primis announced expected annual earnings enhancements of $6.1 million from its digital core conversion initiative.
Key Highlights
- Net income available to common shareholders was $9.4 million for Q2 2026, up from $2.4 million in Q2 2025.
- Diluted earnings per share (EPS) reached $0.38 for Q2 2026, compared to $0.10 in Q2 2025.
- A quarterly cash dividend of $0.10 per share was declared, payable August 21, 2026.
- Return on average assets (ROAA) increased to 0.90% in Q2 2026 from 0.26% in Q2 2025.
- Net Interest Margin (NIM) improved to 3.45% in Q2 2026, up from 2.86% in Q2 2025.
- Nonperforming assets (NPAs) decreased by 37% to $63 million in Q2 2026.
- Digital core conversion is projected to generate $6.1 million in annual earnings enhancements.
- Tangible book value per common share rose 19.5% year-over-year to $13.72.
Price Impact
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