| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 41.00 | 5.1% | 9.9% |
| Total Income | 41.00 | 5.1% | 9.9% |
| Expenditure | 32.26 | 19.9% | 11.3% |
| PBT | 8.74 | 194.3% | 853.5% |
| Net Profit | 6.83 | 179.9% | 455.3% |
| OPM | — | ||
| NPM | 16.66% | 11.02pp | 13.37pp |
| EPS | 0.28 | 180.0% | 460.0% |
Primis Financial Corp. Reports Q3 2025 EPS at $0.28
04 May 2026 · 4 May, 8:53 am
Summary
Primis Financial Corp. reported net income available to common shareholders of $7 million, or $0.28 per diluted share, for Q3 2025, compared to $1 million, or $0.05 per diluted share, for Q3 2024. The company's net interest margin improved to 3.18% from 2.97% year-over-year. Mortgage warehouse outstanding loan balances significantly increased to $327 million, and Panacea Financial loans grew by 40%. The Board of Directors declared a dividend of $0.10 per share payable on November 21, 2025.
Key Highlights
- 1
Primis Financial Corp. reported net income available to common shareholders of $7 million, or $0.28 per diluted share, for the quarter ended September 30, 2025.
- 2
The Company's net interest margin for the third quarter of 2025 was 3.18%, up from 2.97% in the same quarter a year ago.
- 3
Mortgage warehouse outstanding loan balances improved to $327 million at the end of the third quarter of 2025, up 411% from December 31, 2024.
- 4
Panacea Financial loans outstanding were $548 million, up 40% compared to the same quarter in 2024.
- 5
Noninterest income was $12 million in the third quarter of 2025, versus $9 million in the third quarter of 2024.
- 6
Ending balances of non-interest bearing checking accounts were higher by 16% compared to the same quarter in 2024.
- 7
Tangible book value per common share at the end of the third quarter of 2025 was $11.71, an increase of $1.29 or 12% from levels reported at December 31, 2024.
Management Comments
Dennis J. Zember
Jr.
We are excited to see the profitability improvement we have been driving towards finally bear fruit this quarter. Adjusting for reversed interest and short-term expenses expected to decline in the next quarter described below, management estimates run-rate pre-tax earnings were $11 million in the third quarter which equates to an approximately 90 basis point return on assets. The tremendous momentum in all of our business lines combined with strong operating leverage will drive this profitability higher into 2026. We have spent the last year divesting the consumer loan book and the life premium finance book and building scale and revenues in mortgage warehouse. We had conviction in the timing on warehouse and in our team and through three quarters of this strategy, it is increasingly clear that this was the right move. Total loans in this division averaged $210 million in the third quarter of 2025 with approximately $2.1 million of net interest income, compared to an immaterial amount of activity in the year-ago period. We are confident that the growth in warehouse will far outpace the expected runoff in the other portfolios and that revenues and margins will continue to benefit from this strategic move.
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