Primis Financial Corp. ( (FRST) ) has released its Q2 earnings. Here is a breakdown of the information Primis Financial Corp. presented to its investors.
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Primis Financial Corp. is a financial services company primarily operating in the banking sector, offering a range of services to individuals and businesses through its subsidiary, Primis Bank, with a focus on the Virginia and Maryland regions. In its latest earnings report for the second quarter of 2025, Primis Financial Corp. announced a significant increase in net income, reporting $8.4 million, or $0.34 per diluted share, compared to $3.4 million, or $0.14 per diluted share, in the same quarter of the previous year. The company also declared a quarterly cash dividend of $0.10 per share. Key financial highlights include a substantial gain from the sale of a portion of its ownership in Panacea Financial Holdings, Inc., which contributed $7.5 million in pre-tax gains. Primis Mortgage saw a 52% increase in closed loans, primarily in construction-to-permanent products, while the company also reported improvements in credit quality and a reduction in promotional loan volatility. Looking ahead, Primis Financial Corp. anticipates continued growth and profitability, with plans to reduce expenses through renegotiated contracts and further consolidation efforts, aiming for pre-tax pre-provision earnings visibility of $10.5 to $11 million.