NASDAQ : FRST
Primis Financial Corp. — Financial statements
Financials · Banks - Regional · United States
Last price 14.73 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 364.35M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 210.87M | 188.91M | 199.94M | 172.79M | 115.08M | 106.92M |
| Interest Income on Investments | 11.54M | 11.54M | 11.03M | 19.83M | 8.21M | 6.22M |
| Total Interest Income | 222.41M | 200.44M | 210.97M | 192.62M | 123.29M | 113.14M |
| Interest Paid on Deposits | 79.84M | 79.44M | 95.66M | 83.69M | 13.28M | 13.11M |
| Interest Paid on Borrowings | 9.58M | 9.58M | 11.09M | 10.22M | 8.31M | 5.93M |
| Total Interest Expense | 89.42M | 89.01M | 106.75M | 93.91M | 21.59M | 19.04M |
| Net Interest Income | 132.99M | 111.43M | 104.22M | 98.71M | 101.70M | 94.10M |
| Mortgage Banking Activities | 40.16M | 32.39M | 23.92M | 17.64M | 5.05M | |
| Gain (Loss) on Sale of Assets | 50.64M | 82.72M | 5.19M | -476.00K | -684.00K | |
| Gain (Loss) on Sale of Investments | -8.87M | -14.62M | 408.00K | 184.00K | 4.71M | |
| Other Non-Interest Income | 5.69M | 4.07M | 8.00M | 21.69M | 2.84M | 3.26M |
| Total Non-Interest Income | 98.33M | 112.16M | 43.60M | 44.77M | 17.67M | 10.56M |
| Revenues Before Loan Losses | 231.33M | 223.59M | 147.82M | 143.49M | 119.37M | 104.67M |
| Provision for Loan Losses | 10.59M | 12.29M | 50.62M | 32.54M | 11.27M | -5.80M |
| Revenue | 220.74M | 211.30M | 97.20M | 110.94M | 108.10M | 110.47M |
| Salaries and Employee Benefits | 82.99M | 76.16M | 65.67M | 58.05M | 48.61M | 35.99M |
| Federal Deposit Insurance | 3.14M | 3.73M | 2.55M | 2.93M | 890.00K | 804.00K |
| Amortization of Goodwill & Intangibles | 602.00K | 602.00K | 1.26M | 1.27M | 1.32M | 1.36M |
| Selling, General & Administrative | 40.33M | 42.24M | 37.85M | 30.84M | 26.55M | 23.16M |
| Other Non-Interest Expense | 19.22M | 15.79M | 16.73M | 14.57M | 13.28M | 10.08M |
| Total Non-Interest Expense | 150.86M | 138.51M | 124.07M | 107.66M | 90.66M | 71.40M |
| EBT Excluding Unusual Items | 69.88M | 72.79M | -26.86M | 3.28M | 17.44M | 39.07M |
| Other Unusual Items | -232.00K | -232.00K | -2.04M | -3.31M | -108.00K | 498.00K |
| Pretax Income | 69.65M | 72.55M | -28.90M | -11.18M | 17.33M | 39.57M |
| Income Tax Expense | 14.70M | 14.71M | -4.24M | -1.07M | 3.19M | 8.68M |
| Earnings From Continuing Operations | 54.95M | 57.84M | -24.66M | -10.11M | 14.15M | 30.88M |
| Earnings From Discontinued Operations | 230.00K | |||||
| Minority Interest in Earnings | 3.60M | 8.46M | 2.28M | |||
| Net Income | 54.95M | 61.44M | -16.20M | -7.83M | 14.15M | 31.11M |
| Net Income to Common | 54.95M | 61.44M | -16.20M | -7.83M | 14.15M | 31.11M |
| Basic Shares Outstanding | 24.69M | 24.67M | 24.69M | 24.64M | 24.56M | 24.44M |
| Diluted Shares Outstanding | 24.74M | 24.68M | 24.69M | 24.64M | 24.67M | 24.60M |
| EPS (Basic) | 2.23 | 2.49 | -0.66 | -0.32 | 0.58 | 1.27 |
| EPS (Diluted) | 2.23 | 2.49 | -0.66 | -0.32 | 0.57 | 1.27 |
| Dividend Per Share | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 |
| Effective Tax Rate | 21.10% | 20.28% | 18.38% | 21.95% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 165.09M | 143.61M | 64.50M | 77.55M | 77.86M | 530.17M |
| Investment Securities | 7.13M | 29.22M | 69.45M | 72.12M | 75.54M | 89.25M |
| Trading Asset Securities | 2.26M | 6.21M | 12.51M | 900.00K | 3.00K | |
| Mortgage-Backed Securities | 171.53M | 158.04M | 177.90M | 170.65M | 177.69M | 209.22M |
| Total Investments | 178.67M | 189.52M | 253.56M | 255.28M | 254.13M | 298.48M |
| Gross Loans | 3.50B | 3.28B | 2.89B | 3.22B | 2.95B | 2.34B |
| Allowance for Loan Losses | -45.57M | -45.88M | -53.72M | -52.21M | -34.54M | -29.11M |
| Net Loans | 3.45B | 3.24B | 2.83B | 3.17B | 2.91B | 2.31B |
| Property, Plant & Equipment | 69.28M | 71.67M | 29.71M | 31.26M | 30.59M | 36.28M |
| Goodwill | 93.46M | 93.46M | 93.46M | 104.61M | 101.95M | |
| Other Intangible Assets | 93.47M | 5.28M | 8.73M | 12.66M | 13.65M | 10.16M |
| Loans Held for Sale | 161.45M | 166.07M | 247.11M | 57.69M | 27.63M | |
| Accrued Interest Receivable | 18.00M | 17.00M | 20.10M | 10.80M | 10.60M | |
| Other Current Assets | 776.00K | 776.00K | 5.50M | 6.74M | 3.12M | |
| Long-Term Deferred Tax Assets | 17.26M | 14.68M | 26.47M | 22.39M | 19.87M | 10.07M |
| Other Real Estate Owned & Foreclosed | 1.16M | |||||
| Other Long-Term Assets | 159.47M | 106.54M | 110.35M | 112.22M | 112.31M | 97.94M |
| Total Assets | 4.30B | 4.05B | 3.69B | 3.86B | 3.57B | 3.41B |
| Interest Bearing Deposits | 2.98B | 2.62B | 2.73B | 2.80B | 2.14B | 2.23B |
| Institutional Deposits | 220.21M | |||||
| Non-Interest Bearing Deposits | 496.28M | 554.44M | 438.92M | 472.94M | 582.57M | 530.28M |
| Total Deposits | 3.47B | 3.40B | 3.17B | 3.27B | 2.72B | 2.76B |
| Short-Term Borrowings | 237.49M | 44.62M | 21.41M | 54.34M | 332.02M | 110.06M |
| Current Portion of Leases | 7.21M | |||||
| Long-Term Debt | 69.41M | 86.23M | 86.00M | 85.77M | 85.53M | 85.30M |
| Long-Term Leases | 60.01M | 54.13M | 11.57M | 11.69M | 5.77M | 6.50M |
| Trust Preferred Securities | 9.93M | 9.88M | 9.83M | 9.78M | 9.73M | |
| Other Long-Term Liabilities | 24.16M | 26.78M | 25.24M | 27.18M | 22.13M | 20.67M |
| Total Liabilities | 3.86B | 3.62B | 3.33B | 3.46B | 3.18B | 3.00B |
| Common Stock | 435.83M | 247.00K | 247.00K | 247.00K | 246.00K | 245.00K |
| Additional Paid-In Capital | 316.51M | 314.69M | 313.55M | 312.72M | 311.13M | |
| Retained Earnings | 109.62M | 58.05M | 84.14M | 101.85M | 97.56M | |
| Treasury Stock | -807.00K | |||||
| Comprehensive Income & Other | -2.67M | -21.23M | -21.78M | -25.85M | 1.11M | |
| Total Common Equity | 435.83M | 422.90M | 351.76M | 376.16M | 388.97M | 410.04M |
| Minority Interest | 13.23M | 21.43M | ||||
| Shareholders' Equity | 435.83M | 422.90M | 364.98M | 397.59M | 388.97M | 410.04M |
| Total Liabilities & Equity | 4.30B | 4.05B | 3.69B | 3.86B | 3.57B | 3.41B |
| Total Debt | 366.90M | 202.13M | 128.86M | 161.62M | 433.10M | 211.59M |
| Net Cash (Debt) | -201.82M | -56.26M | -58.14M | -71.56M | -354.34M | 318.58M |
| Net Cash Per Share | -8.16 | -2.28 | -2.36 | -2.90 | -14.36 | 12.95 |
| Filing Date Shares Outstanding | 24.73M | 24.70M | 24.72M | 24.71M | 24.69M | 24.58M |
| Total Common Shares Outstanding | 24.73M | 24.70M | 24.72M | 24.69M | 24.68M | 24.57M |
| Book Value Per Share | 17.62 | 17.12 | 14.23 | 15.23 | 15.76 | 16.69 |
| Tangible Book Value | 342.36M | 324.16M | 249.57M | 270.05M | 270.70M | 297.92M |
| Tangible Book Value Per Share | 13.84 | 13.13 | 10.09 | 10.94 | 10.97 | 12.12 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 61.44M | -16.20M | -7.83M | 14.15M | 31.11M | |
| Depreciation & Amortization | 9.36M | 8.93M | 9.09M | 7.43M | 8.04M | |
| Gain (Loss) on Sale of Assets | -82.72M | -5.19M | 476.00K | 684.00K | ||
| Gain (Loss) on Sale of Investments | 19.27M | 5.93M | -12.05M | -3.75M | -1.99M | |
| Total Asset Writedown | 11.15M | |||||
| Provision for Credit Losses | 12.29M | 50.62M | 32.54M | 11.27M | -5.80M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 52.74M | |||||
| Change in Other Net Operating Assets | 9.89M | -4.10M | -577.00K | 10.58M | -8.06M | |
| Other Operating Activities | 801.00K | -15.50M | -10.91M | -16.84M | 3.56M | |
| Net Cash from Discontinued Operations | -373.00K | |||||
| Operating Cash Flow | 10.77M | 19.53M | 28.82M | 12.43M | 27.24M | |
| Capital Expenditures | -1.73M | -1.19M | -1.92M | -1.01M | -2.46M | |
| Sale of Property, Plant and Equipment | 59.18M | 3.93M | ||||
| Cash Acquisitions | -4.55M | |||||
| Investment in Securities | 75.95M | -5.30M | 14.19M | 11.03M | -105.00M | |
| Divestitures | 22.09M | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -312.59M | 106.00M | -338.40M | -613.70M | 109.45M | |
| Other Investing Activities | -1.12M | 4.86M | 13.38M | -8.62M | 8.54M | |
| Investing Cash Flow | -158.22M | 108.30M | -312.76M | -616.86M | 10.53M | |
| Short-Term Debt Issued | 25.00M | 874.00K | 325.00M | |||
| Long-Term Debt Issued | 20.39M | |||||
| Total Debt Issued | 25.00M | 874.00K | 20.39M | 325.00M | ||
| Short-Term Debt Repaid | -366.00K | -30.00M | -298.40M | -22.77M | -6.10M | |
| Long-Term Debt Repaid | -2.42M | -3.20M | -100.00M | -20.00M | ||
| Total Debt Repaid | -2.79M | -33.20M | -298.40M | -122.77M | -26.10M | |
| Net Debt Issued (Repaid) | 22.21M | -32.32M | -278.01M | 202.23M | -26.10M | |
| Issuance of Common Stock | 15.00K | 210.00K | 146.00K | 572.00K | 1.53M | |
| Repurchase of Common Stock | -807.00K | -4.00K | -31.00K | -11.00K | -14.00K | |
| Common Dividends Paid | -9.87M | -9.89M | -9.88M | -9.85M | -9.81M | |
| Net Increase (Decrease) in Deposit Accounts | 215.00M | -99.12M | 547.69M | -40.82M | 330.61M | |
| Other Financing Activities | 254.00K | 23.71M | ||||
| Financing Cash Flow | 226.55M | -140.88M | 283.63M | 152.11M | 296.21M | |
| Net Cash Flow | 79.10M | -13.05M | -306.00K | -452.31M | 333.98M | |
| Free Cash Flow | 9.03M | 18.34M | 26.89M | 11.42M | 24.78M | |
| Free Cash Flow Margin | 4.28% | 18.86% | 24.24% | 10.57% | 22.43% | |
| Free Cash Flow Per Share | 0.37 | 0.74 | 1.09 | 0.46 | 1.01 | |
| Cash Interest Paid | 89.58M | 107.20M | 91.82M | 20.19M | 20.23M | |
| Cash Income Tax Paid | -483.00K | 2.34M | 5.75M | 3.05M | 6.15M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 371.02M | 342.80M | 288.27M | 312.47M | 292.27M | 369.60M |
| Last Close Price | 14.73 | 13.63 | 11.00 | 11.54 | 10.35 | 12.75 |
| PE Ratio | 6.74 | 5.58 | 20.66 | 11.88 | ||
| PS Ratio | 1.68 | 1.62 | 2.97 | 2.82 | 2.70 | 3.35 |
| PB Ratio | 0.84 | 0.81 | 0.79 | 0.79 | 0.75 | 0.90 |
| P/FCF Ratio | 37.95 | 15.72 | 11.62 | 25.59 | 14.91 | |
| P/OCF Ratio | 31.84 | 14.76 | 10.84 | 23.51 | 13.57 | |
| Debt / Equity Ratio | 0.84 | 0.48 | 0.35 | 0.41 | 1.11 | 0.52 |
| Debt / FCF Ratio | 22.38 | 7.03 | 6.01 | 37.92 | 8.54 | |
| Net Debt / Equity Ratio | 0.46 | 0.13 | 0.16 | 0.18 | 0.91 | -0.78 |
| Net Debt / FCF Ratio | 6.23 | 3.17 | 2.66 | 31.02 | -12.85 | |
| Return on Equity (ROE) | 13.44% | 14.68% | -6.47% | -2.57% | 3.54% | 7.71% |
| Return on Assets (ROA) | 1.33% | 1.49% | -0.65% | -0.27% | 0.41% | 0.95% |
| Earnings Yield | 14.84% | 17.92% | -5.62% | -2.51% | 4.84% | 8.42% |
| FCF Yield | -12.15% | 2.63% | 6.36% | 8.61% | 3.91% | 6.71% |
| Dividend Yield | 2.67% | 2.88% | 3.43% | 3.16% | 3.38% | 2.66% |
| Payout Ratio | 17.97% | 16.07% | 69.64% | 31.52% | ||
| Buyback Yield / Dilution | -0.22% | 0.02% | -0.20% | 0.12% | -0.28% | -0.98% |
| Total Shareholder Return | 2.45% | 2.90% | 3.23% | 3.28% | 3.10% | 1.68% |