$15.940
+0.368 (+2.31%)At close
FRST News
FRST Events
Company Core Margin Reaches 3.59%, Retail Mortgage Pipeline Down 37%
Commenting on the results, Dennis J. Zember, Jr., President and Chief Executive Officer of the Company, stated, "The progress we have made over the past year is substantial. A core margin of 3.59% with expansion of 14 basis points linked-quarter is a testament to the value of our Core Bank franchise which continues to drive slow and steady growth at attractive margins. Our core earnings engine delivered a solid quarter in the face of unprecedented headwinds that reduced our retail mortgage pipeline 37% and reduced revenue by $2.3 million versus the second quarter. In a steady environment for retail mortgage, we would have been at our 1.00% ROAA target this quarter as expected. We are already making changes to close the gap during this period of lower volumes while preserving our ability to benefit when volumes eventually recover."
Q2 Net Interest Margin Improves to 3.45%
Reports Q2 net interest margin improved to 3.45% vs. 2.86% in the same quarter of 2025. Tangible book value per share was $13.72 at quarter end from $11.48 at previous quarter end. Common equity tier 1 capital ratio was 9.48% vs. 9.18% in the previous quarter.
Primis Financial Files $150M Mixed Securities Shelf
Primis Financial files $150M mixed securities shelf
Company Reports Q1 Net Interest Income of $32.1M
Report Q1 net interest income of $32.1M vs. $26.4M y/y. Commenting on the results, Dennis J. Zember, Jr., President and Chief Executive Officer of the Company, stated, "We are excited to see the progress on our profitability initiatives in what is generally a seasonally slow quarter. We believe we are extremely well-positioned with a stronger balance sheet and demonstrated operating leverage versus a year ago. Our expectations for a robust level of profitability in 2026 are on track as we continue operating our plan to maximize results."
Company Tangible Book Value Per Share Increases to $13.34
Tangible book value per share was $13.34 vs. $10.42 a year ago. Q4 net interest margin was 3.28% vs. 2.90% a year ago. Common equity tier 1 capital ratio was 9.53% vs. 8.62% a year ago. CEO Dennis Zember, Jr. stated, "We spent 2025 harvesting some of the embedded gains on our balance sheet and used those gains to reposition the company for 2026 and beyond. We rebuilt capital levels and tangible book value and eliminated the noise and excess exposure to the consumer loan portfolio. But the year was more about offense than defense, which is reflected in a substantial increase in earning assets and the portion funded with non-interest bearing demand deposits. The core bank along with all of our divisions had the best year in the last decade and are prepared to continue that momentum into 2026."
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.