Primis Financial Corp. reported a significant turnaround in Q4 2025, moving from a net loss in the prior year to substantial net income, driven by strategic balance sheet repositioning and growth in earning assets. The company highlights improved core profitability and a stronger capital position, setting a positive outlook for 2026.
Net income available to common shareholders was $30 million, or $1.20 per diluted share, for the three months ended December 31, 2025, compared to a net loss of $23 million, or a loss of $0.94 per diluted share, for the same period in 2024.
positiveNet interest income increased 18% to $31 million in Q4 2025 compared to $26 million in Q4 2024, driven by robust earning asset growth funded at attractive incremental margins.
positiveTangible book value per common share increased 28% to $13.34 in Q4 2025 from $10.42 in Q4 2024.
positiveNoninterest bearing deposits increased 26% to $554 million at December 31, 2025, compared to December 31, 2024.
positiveRetail mortgage volume increased 84% to $378 million in Q4 2025 compared to Q4 2024.
positiveNoninterest expense was $42 million for Q4 2025, compared to $38 million for Q4 2024, with increases attributed to mortgage company growth, transaction costs for sale-leaseback, higher compensation, and legal fees.
attentionNonperforming assets (excluding SBA guarantees) were 2.03% of total assets at December 31, 2025, compared to 0.28% at December 31, 2024.
attentionLoss on sales of investment securities was $14.8 million in Q4 2025.
attentionThe company recorded a provision for credit losses of $2.4 million for Q4 2025, compared to $33.5 million for Q4 2024.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Core Community Bank | N/A | — | — | — |
Primis Mortgage | N/A | — | — | — |
Mortgage Warehouse | N/A | — | — | — |
Panacea Financial | N/A | — | — | — |
Digital Platform | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
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.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.