FRST on Nasdaq
Primis Financial Corp.
In its 2026 annual report the company says: “Primis Financial Corp. is the bank holding company for Primis Bank, a Virginia state-chartered bank which commenced operations on April 14, 2005.”5 It is headquartered in Falls Church, United States.2 Its shares trade on Nasdaq under the symbol FRST.2
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Last updated Oct 21, 2026.
Overview
- TickerFRST on Nasdaq2
- IndustryState Commercial Banks2
- HeadquartersFalls Church, United States2
- Incorporated inVA3
- Business address1676 International Drive Suite 900, Mclean, Va 221023
- Filer categoryAccelerated filer3
- Legal formStock Corporation2
- LEI549300JNX3M2EENG1F112
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O Cheryl Wood, 23060 Richmond, United States2
- Registered withState Corporation Commission, 062265832
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Primis Financial Corp. is the bank holding company for Primis Bank, a Virginia state-chartered bank which commenced operations on April 14, 2005. Primis Bank provides a range of financial services to individuals and small and medium-sized businesses.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest and fees on loans | $188.9M | $199.9M | $172.8M |
| Interest and dividends on taxable securities | $7.2M | $6.8M | $6.0M |
| Interest and dividends on tax exempt securities | $360.0K | $392.0K | $407.0K |
| Interest and dividends on other earning assets | $4.0M | $3.8M | $13.5M |
| Total interest and dividend income | $200.4M | $211.0M | $192.6M |
| Interest on deposits | $79.4M | $95.7M | $83.7M |
| Interest on other borrowings | $9.6M | $11.1M | $10.2M |
| Total interest expense | $89.0M | $106.7M | $93.9M |
| Net interest income | $111.4M | $104.2M | $98.7M |
| Provision for credit losses | $12.3M | $50.6M | $32.5M |
| Net interest income after provision for credit losses | $99.1M | $53.6M | $66.2M |
| Account maintenance and deposit service fees | $5.7M | $5.8M | $5.7M |
| Income from bank-owned life insurance | $1.8M | $2.4M | $2.0M |
| Gains on Panacea Financial Holdings investment | $32.3M | ||
| Mortgage banking income | $32.4M | $23.9M | $17.6M |
| Gains on sale of loans | $1.9M | $303.0K | $583.0K |
| Gain on sale-leaseback | $50.6M | ||
| Loss on sales of investment securities | -$14.8M | ||
| Gains on other investments | $159.0K | $408.0K | $184.0K |
| Gain on sale of Life Premium Finance portfolio, net of broker fees | $4.7M | ||
| Consumer Program derivative income | $1.3M | $4.3M | $18.1M |
| Other noninterest income | $948.0K | $1.3M | $1.5M |
| Total noninterest income | $112.3M | $43.1M | $45.2M |
| Salaries and benefits | $79.1M | $66.6M | $58.8M |
| Occupancy expenses | $6.9M | $5.4M | $6.2M |
| Furniture and equipment expenses | $7.5M | $7.3M | $6.4M |
| Amortization of intangible assets | $602.0K | $1.3M | $1.3M |
| Virginia franchise tax expense | $2.3M | $2.5M | $3.4M |
| FDIC insurance assessment | $3.7M | $2.5M | $2.9M |
| Data processing expense | $10.7M | $10.6M | $9.5M |
| Marketing expense | $2.2M | $1.9M | $1.8M |
| Telephone and communication expense | $1.3M | $1.3M | $1.5M |
| Loss (gain) on bank premises and equipment and assets held for sale | -$191.0K | $463.0K | -$476.0K |
| Professional fees | $10.9M | $10.4M | $4.6M |
| Goodwill impairment | $11.2M | ||
| Fraud losses | $232.0K | $2.0M | $3.3M |
| Miscellaneous lending expenses | $2.6M | $3.3M | $3.0M |
| Other operating expenses | $10.9M | $10.9M | $8.2M |
| Total noninterest expenses | $138.9M | $125.6M | $122.6M |
| Income (loss) before income taxes | $72.6M | -$28.9M | -$11.2M |
| Income tax expense (benefit) | $14.7M | -$4.2M | -$1.1M |
| Net income (loss) | $57.8M | -$24.7M | -$10.1M |
| Net loss attributable to noncontrolling interests | $3.6M | $8.5M | $2.3M |
| Net income (loss) attributable to Primis' common stockholders | $61.4M | -$16.2M | -$7.8M |
| Unrealized gain on available-for-sale securities | $9.2M | $742.0K | $5.2M |
| Less: reclassification adjustment for losses on available-for-sale securities included in net income | $14.7M | ||
| Other comprehensive income, before tax | $23.9M | $742.0K | $5.2M |
| Income tax expense related to other comprehensive income | $5.3M | $197.0K | $1.2M |
| Other comprehensive income, net of tax | $18.6M | $545.0K | $4.1M |
| Comprehensive income (loss) | $80.0M | -$15.7M | -$3.8M |
| Earnings (loss) per share, basic (in dollars per share) | $2.49 | -$0.66 | -$0.32 |
| Earnings (loss) per share, diluted (in dollars per share) | $2.49 | -$0.66 | -$0.32 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from financial institutions | $9.7M | $8.1M | ||
| Interest-bearing deposits in other financial institutions | $133.9M | $56.4M | ||
| Total cash and cash equivalents | $143.6M | $64.5M | ||
| Securities available-for-sale, at fair value (amortized cost of $174,226 and $262,632, respectively) | $171.4M | $235.9M | ||
| Securities held-to-maturity, at amortized cost (fair value of $6,560 and $8,602, respectively) | $7.0M | $9.4M | ||
| Loans held for sale, at fair value | $166.1M | $83.3M | ||
| Loans held for sale, at lower of cost or market | $163.8M | |||
| Total loans held for sale | $166.1M | $247.1M | ||
| Loans held for investment, collateralizing secured borrowings | $14.8M | $17.3M | ||
| Loans held for investment | $3.3B | $2.9B | ||
| Less: allowance for credit losses | -$45.9M | -$53.7M | -$52.2M | |
| Net loans | $3.2B | $2.8B | ||
| Stock in Federal Reserve Bank and Federal Home Loan Bank | $14.2M | $13.0M | ||
| Bank premises and equipment, net | $6.1M | $19.4M | ||
| Assets held for sale | $776.0K | $5.5M | ||
| Operating lease right-of-use assets | $65.6M | $10.3M | ||
| Cloud computing arrangement assets, net | $5.2M | $8.1M | ||
| Goodwill | $93.5M | $93.5M | ||
| Intangible assets, net | $36.0K | $665.0K | ||
| Bank-owned life insurance | $69.0M | $67.2M | ||
| Deferred tax assets, net | $14.7M | $26.5M | ||
| Consumer Program derivative asset | $159.0K | $4.5M | ||
| Investment in Panacea Financial Holdings, Inc. common stock | $6.9M | |||
| Other assets | $45.5M | $50.8M | ||
| Total assets | $4.0B | $3.7B | $3.9B | |
| Noninterest-bearing demand deposits | $554.4M | $438.9M | ||
| NOW accounts | $862.7M | $817.7M | ||
| Money market accounts | $740.9M | $798.5M | ||
| Savings accounts | $922.3M | $775.7M | ||
| Time deposits | $315.2M | $340.2M | ||
| Total interest-bearing deposits | $2.8B | $2.7B | ||
| Total deposits | $3.4B | $3.2B | ||
| Securities sold under agreements to repurchase | $3.6M | $3.9M | ||
| Secured borrowings | $14.8M | $17.2M | ||
| FHLB advances | $25.0M | |||
| Junior subordinated debt | $9.9M | $9.9M | ||
| Senior subordinated notes | $86.2M | $86.0M | ||
| Operating lease liabilities | $61.3M | $11.6M | ||
| Other liabilities | $28.1M | $25.5M | ||
| Total liabilities | $3.6B | $3.3B | ||
| Common stock, $0.01 par value. Authorized 45,000,000 shares; 24,774,934 shares issued and 24,695,385 shares outstanding at December 31, 2025, and 24,722,734 shares issued and outstanding at December 31, 2024 | $247.0K | $247.0K | ||
| Additional paid in capital | $316.5M | $314.7M | ||
| Retained earnings | $109.6M | $58.0M | ||
| Treasury stock, at cost. 79,549 shares at December 31, 2025 and zero shares at December 31, 2024 | -$807.0K | |||
| Accumulated other comprehensive loss | -$2.7M | -$21.2M | ||
| Total stockholders' equity | $422.9M | $351.8M | ||
| Noncontrolling interests | $13.2M | |||
| Total Primis stockholders' equity | $422.9M | $365.0M | $397.6M | $389.0M |
| Total liabilities and stockholders' equity | $4.0B | $3.7B | ||
| Securities available-for-sale, amortized cost (in dollars) | $174.2M | $262.6M | ||
| Securities held-to-maturity, fair value (in dollars) | $6.6M | $8.6M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized | 45.0M shares | 45.0M shares | ||
| Common stock, shares issued | 24.8M shares | 24.7M shares | ||
| Common stock, shares outstanding | 24.7M shares | 24.7M shares | ||
| Treasury stock, shares | 79.5K shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from financial institutions | $9.7M | $8.1M | ||
| Interest-bearing deposits in other financial institutions | $133.9M | $56.4M | ||
| Total cash and cash equivalents | $143.6M | $64.5M | ||
| Securities available-for-sale, at fair value (amortized cost of $174,226 and $262,632, respectively) | $171.4M | $235.9M | ||
| Securities held-to-maturity, at amortized cost (fair value of $6,560 and $8,602, respectively) | $7.0M | $9.4M | ||
| Loans held for sale, at fair value | $166.1M | $83.3M | ||
| Loans held for sale, at lower of cost or market | $163.8M | |||
| Total loans held for sale | $166.1M | $247.1M | ||
| Loans held for investment, collateralizing secured borrowings | $14.8M | $17.3M | ||
| Loans held for investment | $3.3B | $2.9B | ||
| Less: allowance for credit losses | -$45.9M | -$53.7M | -$52.2M | |
| Net loans | $3.2B | $2.8B | ||
| Stock in Federal Reserve Bank and Federal Home Loan Bank | $14.2M | $13.0M | ||
| Bank premises and equipment, net | $6.1M | $19.4M | ||
| Assets held for sale | $776.0K | $5.5M | ||
| Operating lease right-of-use assets | $65.6M | $10.3M | ||
| Cloud computing arrangement assets, net | $5.2M | $8.1M | ||
| Goodwill | $93.5M | $93.5M | ||
| Intangible assets, net | $36.0K | $665.0K | ||
| Bank-owned life insurance | $69.0M | $67.2M | ||
| Deferred tax assets, net | $14.7M | $26.5M | ||
| Consumer Program derivative asset | $159.0K | $4.5M | ||
| Investment in Panacea Financial Holdings, Inc. common stock | $6.9M | |||
| Other assets | $45.5M | $50.8M | ||
| Total assets | $4.0B | $3.7B | $3.9B | |
| Noninterest-bearing demand deposits | $554.4M | $438.9M | ||
| NOW accounts | $862.7M | $817.7M | ||
| Money market accounts | $740.9M | $798.5M | ||
| Savings accounts | $922.3M | $775.7M | ||
| Time deposits | $315.2M | $340.2M | ||
| Total interest-bearing deposits | $2.8B | $2.7B | ||
| Total deposits | $3.4B | $3.2B | ||
| Securities sold under agreements to repurchase | $3.6M | $3.9M | ||
| Secured borrowings | $14.8M | $17.2M | ||
| FHLB advances | $25.0M | |||
| Junior subordinated debt | $9.9M | $9.9M | ||
| Senior subordinated notes | $86.2M | $86.0M | ||
| Operating lease liabilities | $61.3M | $11.6M | ||
| Other liabilities | $28.1M | $25.5M | ||
| Total liabilities | $3.6B | $3.3B | ||
| Common stock, $0.01 par value. Authorized 45,000,000 shares; 24,774,934 shares issued and 24,695,385 shares outstanding at December 31, 2025, and 24,722,734 shares issued and outstanding at December 31, 2024 | $247.0K | $247.0K | ||
| Additional paid in capital | $316.5M | $314.7M | ||
| Retained earnings | $109.6M | $58.0M | ||
| Treasury stock, at cost. 79,549 shares at December 31, 2025 and zero shares at December 31, 2024 | -$807.0K | |||
| Accumulated other comprehensive loss | -$2.7M | -$21.2M | ||
| Total stockholders' equity | $422.9M | $351.8M | ||
| Noncontrolling interests | $13.2M | |||
| Total Primis stockholders' equity | $422.9M | $365.0M | $397.6M | $389.0M |
| Total liabilities and stockholders' equity | $4.0B | $3.7B | ||
| Securities available-for-sale, amortized cost (in dollars) | $174.2M | $262.6M | ||
| Securities held-to-maturity, fair value (in dollars) | $6.6M | $8.6M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized | 45.0M shares | 45.0M shares | ||
| Common stock, shares issued | 24.8M shares | 24.7M shares | ||
| Common stock, shares outstanding | 24.7M shares | 24.7M shares | ||
| Treasury stock, shares | 79.5K shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $57.8M | -$24.7M | -$10.1M |
| Depreciation and amortization | $9.4M | $8.9M | $9.1M |
| Net amortization of premiums and (accretion of discounts) | $297.0K | $41.0K | -$583.0K |
| Provision for credit losses | $12.3M | $50.6M | $32.5M |
| Proceeds from sales of loans originated to sell | $52.7M | ||
| Purchases of cloud computing arrangement assets | -$278.0K | -$364.0K | -$2.9M |
| Net change in mortgage loans held for sale | $11.9M | $18.3M | -$28.3M |
| Net gains on mortgage banking | -$32.4M | -$23.9M | -$17.6M |
| Net gains on sale of loans | -$1.9M | -$303.0K | -$583.0K |
| Loss (gain) on bank premises and equipment and assets held for sale | $191.0K | -$463.0K | $476.0K |
| Earnings on bank-owned life insurance | -$1.8M | -$1.7M | -$1.6M |
| Gain on bank-owned life insurance death benefit | -$703.0K | -$419.0K | |
| Stock-based compensation expense | $2.9M | $940.0K | $712.0K |
| Gain on sale-leaseback of bank premises | -$50.6M | ||
| Loss on sales of investment securities | $14.8M | ||
| Gains on Panacea Financial Holdings investment | -$32.3M | ||
| Gains on other investments | -$159.0K | -$408.0K | -$184.0K |
| Gain on sale of Life Premium Finance portfolio, net of broker fees | -$4.7M | ||
| Goodwill impairment | $11.2M | ||
| Deferred income tax expense (benefit) | $6.5M | -$4.3M | -$3.7M |
| Net change in fair value of Consumer Program derivative | $4.4M | $6.3M | -$11.3M |
| Net decrease (increase) in other assets | $5.2M | -$218.0K | -$12.3M |
| Net increase (decrease) in other liabilities | $4.7M | -$3.9M | $11.8M |
| Net cash and cash equivalents provided by operating activities | $10.8M | $19.5M | $28.8M |
| Proceeds from sales of investment securities | $129.0M | ||
| Purchases of securities available-for-sale | -$92.1M | -$43.1M | -$15.2M |
| Proceeds from paydowns, maturities and calls of securities available-for-sale | $37.4M | $35.6M | $27.6M |
| Proceeds from paydowns, maturities and calls of securities held-to-maturity | $1.2M | $2.2M | $1.8M |
| Net (increase) decrease in FRB and FHLB stock | -$1.1M | $1.2M | $11.6M |
| Net change in loans held for investment | -$426.3M | -$311.5M | -$338.4M |
| Proceeds from sales of loans initially originated to be held for investment | $113.7M | $417.5M | |
| Proceeds from bank-owned life insurance death benefit | $3.3M | $2.5M | |
| Proceeds from sales of bank premise and equipment and assets held for sale | $2.3M | $3.9M | |
| Proceeds from sale-leaseback of bank premises | $56.9M | ||
| Purchases of bank premises and equipment, net | -$1.7M | -$1.2M | -$1.9M |
| Proceeds from sale of Panacea Financial Holdings investment | $22.1M | ||
| Proceeds from sale of other investment | $432.0K | ||
| Net decrease (increase) in other investments | $30.0K | $387.0K | -$666.0K |
| Net cash and cash equivalents (used in) provided by investing activities | -$158.2M | $108.3M | -$312.8M |
| Net increase (decrease) in deposits | $215.0M | -$99.1M | $547.7M |
| (Decrease) increase in securities sold under agreements to repurchase | -$366.0K | $874.0K | -$3.4M |
| (Repayments of) increases in secured borrowings, net | -$2.4M | -$3.2M | $20.4M |
| Repayment of short-term FHLB advances | -$30.0M | -$295.0M | |
| Cash dividends paid on common stock | -$9.9M | -$9.9M | -$9.9M |
| Repurchase of common stock | -$807.0K | ||
| Proceeds from exercised stock options | $15.0K | $210.0K | $146.0K |
| Repurchase of restricted stock | -$4.0K | -$31.0K | |
| Increase in short-term FHLB advances | $25.0M | ||
| Other net changes in noncontrolling interest | $254.0K | ||
| Issuance of Panacea Financial Holdings stock, net of costs | $23.7M | ||
| Net cash and cash equivalents provided by (used in) financing activities | $226.6M | -$140.9M | $283.6M |
| Net change in cash and cash equivalents | $79.1M | -$13.0M | -$306.0K |
| Interest | $89.6M | $107.2M | $91.8M |
| Income taxes | -$483.0K | $2.3M | $5.8M |
| Initial recognition of operating lease right-of-use assets | $56.8M | $1.4M | $5.3M |
| Loans held for sale transferred to held for investment | $101.6M | ||
| Loans held for investment transferred to loans held for sale, at lower of cost or market | $163.8M | ||
| Assets held for sale transferred to other assets | $2.2M | $4.0M | |
| Deconsolidation of Panacea Financial Holdings, Inc. | $9.6M |
No quarter-by-quarter statement was filed.
Corporate structure
Primis Financial Corp. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Primis Financial Corp.
- Castle Creek Capital Partners VII, LP Filed SCHEDULE 13D/A on Primis Financial Corp., latest Apr 21, 2026 (2 filings since Apr 13, 2026)
- BANC FUNDS CO LLC Filed SCHEDULE 13G/A on Primis Financial Corp., latest Feb 17, 2026 (3 filings since Feb 9, 2022)
- PATRIOT FINANCIAL PARTNERS III, L.P. Filed SCHEDULE 13D/A on Primis Financial Corp., latest Sep 25, 2025 (2 filings since Aug 19, 2025)
- Wellington Management Company Filed SC 13G/A on Primis Financial Corp., latest Feb 9, 2024 (3 filings since Feb 4, 2022)
- BlackRock Filed SC 13G/A on Primis Financial Corp., latest Jan 26, 2024 (3 filings since Feb 3, 2022)
- Primis Financial Corp. Falls Church, Virginia, United States
- Primis Bank Subsidiary · Richmond, Virginia, United States
- Primis Mortgage Company Subsidiary · Raleigh, North Carolina, United States
- Primis Bank Subsidiary · Richmond, Virginia, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Primis Financial Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Computer equipment and software | $15.0M10 Dec 31, 2024 | $14.4M9 Dec 31, 2023 | +4.2% |
| Property and equipment, before depreciation | $17.3M10 Dec 31, 2025 | $39.0M10 Dec 31, 2024 | −55.6% |
| Accumulated depreciation | $11.3M10 Dec 31, 2025 | $19.6M10 Dec 31, 2024 | −42.5% |
| Property and equipment, net | $6.1M10 Dec 31, 2025 | $19.4M10 Dec 31, 2024 | −68.8% |
| Operating-lease assets (leased space) | $65.6M10 Dec 31, 2025 | $10.3M10 Dec 31, 2024 | +538.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $143.6M10 Dec 31, 2025 | $64.5M10 Dec 31, 2024 | +122.6% |
| Stakes in other companies (equity method) | $6.9M10 Dec 31, 2025 | ||
| Loans, net of allowance | $3.2B10 Dec 31, 2025 | $2.8B10 Dec 31, 2024 | +14.3% |
| Deposits held (banks) | $3.4B10 Dec 31, 2025 | $3.2B10 Dec 31, 2024 | +7.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $93.5M10 Dec 31, 2025 | $93.5M10 Dec 31, 2024 | 0% |
| Finite-lived intangibles, net | $36.0K10 Dec 31, 2025 | $665.0K10 Dec 31, 2024 | −94.6% |
Properties, in its own words
Primis Financial Corp.’s principal office is located at 1676 International Drive, McLean, Virginia. We have an administrative office in Glen Allen, Virginia and an operations center in Atlee, Virginia. Including these main locations, we own 4 properties and lease 47 properties. The majority of our properties owned and leased are for operational units in Virginia, Maryland, Texas, Tennessee and North Carolina. As of December 31, 2025, Primis Bank had twenty-four full-service branches in Virginia and Maryland, and also provided services to customers through certain online and mobile applications. Twenty-two full-service retail branches are in Virginia and two full-service retail branches are in Maryland.
During 2025, the Company executed a sale-leaseback transaction selling 18 of its retail branch properties that included land, land improvements and buildings and subsequently entering into a lease for the same properties. For additional details, see Note 1 - Organization and Significant Accounting Policies, in Part II, Item 8. of this 10-K.
The rest of Item 2
We believe our facilities are in good operating condition, are suitable and adequate for our operational needs and are adequately insured.
Item 2 of the 10-K filed Mar 16, 2026.5
Leadership
Who has led Primis Financial Corp., and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
- Chief executive officerDennis J. Zember Jr. Feb 20, 2020 to now14
- Chief executive officerJoe A. Shearin Jun 26, 2017 to Mar 10, 202015
- Chief executive officerGeorgia S. Derrico Nov 6, 2006 to Mar 16, 200716
- ChairR. Roderick Porter Aug 23, 2017 to Feb 27, 202017
- ChairGeorgia S. Derrico Nov 6, 2006 to Apr 28, 202016
- PresidentDennis J. Zember Jr. Feb 20, 2020 to now14
- PresidentJeffrey Culver May 15, 2018 to Jun 25, 201918
- PresidentJoe A. Shearin Jun 26, 2017 to Apr 3, 201815
- PresidentR. Roderick Porter Oct 31, 2006 to Feb 14, 201719
- Chief financial officerMatthew Alan Switzer Jan 11, 2021 to now20
- Chief financial officerJoseph Darrell Pennington May 2, 2018 to Oct 5, 201821
- Chief financial officerJeffrey L. Karafa Nov 7, 2018 to Oct 27, 202022
- Chief financial officerJames Adam Sothen Jun 26, 2017 to Apr 2, 201823
- Chief operating officerGeorge Cody Sheflett Jr. Mar 15, 2019 to Nov 17, 202324
- Chief operating officerJeffrey Culver May 15, 2018 to Nov 9, 201818
Board members and other officers (45)
- EVP, Chief Information OfficerAnurag Sharma May 4, 2026 to now25
- Chief Information OfficerRyan Lysaght Gorney Jan 29, 2025 to Jan 29, 202526
- EVP, Chief Risk OfficerDonald Charles Savino Dec 2, 2025 to now27
- EVP, Chief Risk OfficerJulia E. Fredricks Jan 11, 2023 to Feb 8, 202428
- EVP, PresidentRickey Allen Fulk Oct 4, 2023 to now29
- EVP, Director of Reg RelationsSusan B. Williamson Aug 11, 2022 to Feb 7, 202530
- Chief Accounting OfficerJeffrey L. Karafa Feb 10, 2021 to Oct 25, 202231
- EVP, Chief Marketing OfficerAnn-Stanton C. Gore Sep 30, 2021 to now32
- ConsultantJoe A. Shearin Feb 24, 2020 to Mar 10, 202033
- EVP, Chief Strategy OfficerStephen B. Weber May 11, 2020 to Dec 15, 202234
- EVP, Chief Credit OfficerKeith Avant May 28, 2020 to Jul 16, 202135
- EVP, Head of Retail/MarketingBarry P. Almond Aug 20, 2020 to Mar 15, 202336
- EVP, Head of CommercialBruce Todd Brockwell Aug 20, 2020 to Dec 15, 202237
- Pres Panacea FinancialClinton Tyler Stafford Aug 20, 2020 to Jun 8, 202338
- EVP, Director of RetailMary Robin Jett Aug 20, 2020 to Feb 9, 202139
- EVP, Chief Risk OfficerJohn Colantoni Jr. Aug 24, 2020 to Mar 10, 202240
- EVP, Chief Admin OfficerCheryl Wood Dec 9, 2020 to now41
- Vice chairR. Roderick Porter Feb 1, 2018 to Apr 28, 202042
- Chief Credit OfficerMarie Taylor Leibson Nov 1, 2018 to now43
- Executive Vice PresidentJames Stanley Thomas Jun 26, 2017 to Nov 20, 201744
- Chief Credit OfficerThomas Preston Baker Feb 11, 2011 to Oct 24, 201845
- Chief Credit OfficerCarl Joseph Wallace Mar 2, 2010 to Mar 2, 201046
- OfficerGeorgia S. Derrico Oct 31, 2006 to Mar 9, 201547
- OfficerWilliam H. Lagos Oct 31, 2006 to Jan 28, 201948
- OfficerWilliam H. Stevens Oct 31, 2006 to Feb 3, 202249
- Board memberScott R. Gamble May 29, 2026 to now50
- Board memberJason Brock Saunders Jun 1, 2026 to now51
- Board memberMargaret M. Weichert Jun 30, 2026 to now52
- Board memberJohn M. Eggemeyer Iii. Jun 23, 2021 to Aug 6, 202153
- Board memberDennis J. Zember Jr. Feb 20, 2020 to now14
- Board memberDeborah Diaz Oct 13, 2020 to now54
- Board memberDaniel H. Burch Dec 18, 2018 to Dec 18, 201855
- Board memberF. L. Garrett Iii. Jun 26, 2017 to now56
- Board memberJoe A. Shearin Jun 26, 2017 to May 16, 201815
- Board memberJohn Fitzgerald Biagas Jun 26, 2017 to now57
- Board memberRobert Yates Clagett Feb 11, 2015 to now58
- Board memberW. Bruce Jennings Dec 8, 2011 to Feb 4, 202259
- Board memberFrederick L. Bollerer Jul 2, 2007 to Sep 25, 201760
- Board memberCharles A. Kabbash Oct 31, 2006 to Dec 16, 202461
- Board memberGeorgia S. Derrico Oct 31, 2006 to Mar 10, 200947
- Board memberJohn J. Forch Oct 31, 2006 to Sep 25, 201762
- Board memberMichael A. Gaffney Oct 31, 2006 to Jan 24, 200863
- Board memberNeil J. Call Oct 31, 2006 to Oct 25, 201864
- Board memberR. Roderick Porter Oct 31, 2006 to Mar 10, 202019
- Board memberRobin R. Shield Oct 31, 2006 to Mar 13, 201265
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Primis Bank Virginia4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Southern National Bancorp of Virginia IncApr 28, 2005 to Mar 16, 20213
Timeline
- Aug 31, 20268-K Executive or director change66
- Jul 23, 20268-K Results of operations; Regulation FD disclosure; Other events67
- Jun 30, 20268-K Executive or director change68
- May 27, 20268-K Executive or director change; Shareholder vote69
- Apr 23, 20268-K Results of operations; Regulation FD disclosure; Other events70
- Jan 29, 20268-K Results of operations; Regulation FD disclosure; Other events71
- Dec 18, 20258-K Other events72
- Dec 8, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure73
- Oct 23, 20258-K Results of operations; Regulation FD disclosure; Other events74
- Aug 11, 20258-K Results of operations; Regulation FD disclosure75
- Jul 24, 20258-K Results of operations; Regulation FD disclosure; Other events76
- Jul 7, 20258-K Bylaws or fiscal year changed; Other events77
- Feb 20, 2020New chief executive Dennis J. Zember Jr. becomes CEO14
- Jun 26, 2017New chief executive Joe A. Shearin becomes CEO15
- Nov 6, 2006New chief executive Georgia S. Derrico becomes CEO16
- Jul 28, 2004Founded Primis Financial Corp. is founded2
Calendar
Coming up
- Oct 22, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.28 a share, on Oct 23, 2025.78
When it reported results
- Jul 23, 2026Reported quarterly or annual results67
- Apr 23, 2026Reported quarterly or annual results70
- Jan 29, 2026Reported quarterly or annual results71
- Oct 23, 2025Reported quarterly or annual results74
- Aug 11, 2025Reported quarterly or annual results75
- Jul 24, 2025Reported quarterly or annual results76
- May 14, 2025Reported quarterly or annual results79
- Apr 29, 2025Reported quarterly or annual results80
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
298 filings to the SEC since October 2021: 6 annual reports, 18 quarterly reports, 61 major events, 171 insider forms, 13 large holders, 29 other. The latest 20:
- Sep 10, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Aug 31, 20268-K EDGAR
- Aug 24, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 7, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jul 20, 2026EFFECT EDGAR
- Jul 16, 2026S-3/A EDGAR
- Jun 30, 20263 EDGAR
- Jun 30, 20268-K EDGAR
- Jun 26, 202611-K EDGAR
- Jun 25, 2026S-3 EDGAR
- Jun 12, 20264 EDGAR
- Jun 11, 20264 EDGAR
- Jun 9, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 4, 20264 EDGAR
- Jun 3, 20264 EDGAR
The 298 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
126 open-market trades by officers, directors and large owners since October 2021: 120 buys and 6 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 9, 2026 | Johnson Eric AlanDirector | Buy | 1,565 | $15.95 | $25.0K | Form 4 |
| Sep 1, 2026 | Johnson Eric AlanDirector | Buy | 1,280 | $15.60 | $20.0K | Form 4 |
| Sep 1, 2026 | Weichert Margaret MDirector | Buy | 100 | $15.75 | $1.6K | Form 4 |
| Aug 20, 2026 | Weichert Margaret MDirector | Buy | 110 | $16.00 | $1.8K | Form 4 |
| Aug 6, 2026 | Weichert Margaret MDirector | Buy | 200 | $16.32 | $3.3K | Form 4 |
| Jun 11, 2026 | Saunders Jason BrockDirector | Buy | 500 | $15.20 | $7.6K | Form 4 |
| Jun 9, 2026 | GARRETT F L IIIDirector | Buy | 155 | $15.24 | $2.4K | Form 4 |
| Jun 8, 2026 | GARRETT F L IIIDirector | Buy | 250 | $15.03 | $3.8K | Form 4 |
| Jun 5, 2026 | GARRETT F L IIIDirector | Buy | 125 | $15.00 | $1.9K | Form 4 |
| Jun 4, 2026 | GARRETT F L IIIDirector | Buy | 125 | $14.75 | $1.8K | Form 4 |
| Jun 3, 2026 | Sharma AnuragEVP, Chief Information Officer | Buy | 694 | $14.40 | $10.0K | Form 4 |
| Jun 3, 2026 | GARRETT F L IIIDirector | Buy | 450 | $14.50 | $6.5K | Form 4 |
| Jun 3, 2026 | Gamble Scott RDirector | Buy | 1,711 | $14.59 | $25.0K | Form 4 |
| Jun 2, 2026 | GARRETT F L IIIDirector | Buy | 250 | $14.75 | $3.7K | Form 4 |
| Jun 1, 2026 | Gamble Scott RDirector | Buy | 1,389 | $14.39 | $20.0K | Form 4 |
| Jun 1, 2026 | GARRETT F L IIIDirector | Buy | 350 | $14.30 | $5.0K | Form 4 |
| May 29, 2026 | GARRETT F L IIIDirector | Buy | 250 | $14.40 | $3.6K | Form 4 |
| May 28, 2026 | GARRETT F L IIIDirector | Buy | 250 | $14.50 | $3.6K | Form 4 |
| May 27, 2026 | GARRETT F L IIIDirector | Buy | 250 | $14.51 | $3.6K | Form 4 |
| May 26, 2026 | GARRETT F L IIIDirector | Buy | 354 | $14.49 | $5.1K | Form 4 |
All 126 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Castle Creek Capital Partners VII, LPSCHEDULE 13D/A, 2 filings Apr 13, 2026 to Apr 21, 202681
- BANC FUNDS CO LLCSCHEDULE 13G/A, 3 filings Feb 9, 2022 to Feb 17, 202682
- PATRIOT FINANCIAL PARTNERS III, L.P.SCHEDULE 13D/A, 2 filings Aug 19, 2025 to Sep 25, 202583
- Wellington Management CompanySC 13G/A, 3 filings Feb 4, 2022 to Feb 9, 202484
- BlackRockSC 13G/A, 3 filings Feb 3, 2022 to Jan 26, 202485
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 2,461,114 | $40.3M | 0.0% | +422,550 |
| North Reef Capital Management LP | 1,226,283 | $20.1M | 0.8% | +91,002 |
| Patriot Financial Partners GP II, L.P. | 1,217,531 | $19.9M | 5.1% | No change |
| Dimensional Fund Advisors LP | 1,064,320 | $17.4M | 0.0% | −121,473 |
| Vanguard Capital Management LLC | 985,372 | $16.1M | 0.0% | −2,415 |
| Alliancebernstein L.P. | 1,196,270 | $15.9M | 0.0% | +3,420 |
| Mendon Capital Advisors Corp | 929,735 | $15.2M | 5.4% | −294,808 |
| Two Sigma Investments, LP | 923,711 | $15.1M | 0.0% | +505,335 |
| Maltese Capital Management LLC | 897,100 | $14.7M | 2.7% | −47,900 |
| Banc Funds Co LLC | 872,961 | $14.3M | 2.4% | No change |
| Curi Capital, LLC | 801,797 | $13.1M | 0.2% | −202,491 |
| Geode Capital Management, LLC | 536,724 | $8.8M | 0.0% | +38,397 |
| Arrowstreet Capital, Limited Partnership | 527,939 | $8.6M | 0.0% | +356,630 |
| Salzhauer Michael | 471,795 | $7.7M | 2.8% | −218,126 |
| State Street Corp | 430,454 | $7.0M | 0.0% | +10,276 |
| Prudential Financial Inc | 346,145 | $5.7M | 0.0% | +180,500 |
| Qube Research & Technologies Ltd | 312,943 | $5.1M | 0.0% | +120,535 |
| Connor, Clark & Lunn Investment Management Ltd. | 283,551 | $4.6M | 0.0% | +123,115 |
| Corbyn Investment Management Inc/md | 270,282 | $4.4M | 1.8% | No change |
| PL Capital Advisors, LLC | 237,241 | $3.9M | 1.1% | No change |
| Nuveen, LLC | 235,374 | $3.9M | 0.0% | +80,149 |
| Petiole USA ltd | 230,222 | $3.8M | 2.7% | No change |
| EJF Capital LP | 228,204 | $3.7M | 2.5% | +38,700 |
| Renaissance Technologies LLC | 223,070 | $3.7M | 0.0% | −47,100 |
| Aqr Capital Management LLC | 217,841 | $3.6M | 0.0% | +109,703 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Primis Financial Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPrimis Financial Corp.1
- CIK0001325670
- Employer ID (EIN)20-14174485
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inVirginia5
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address1676 International Drive Suite 900, Mclean, VA 221021
- Phone(703) 893-74001
- Shares outstanding24,799,072 as of Jul 31, 202612
- Public float$233.8M as of Jun 30, 20255
- AuditorCrowe LLP, Ft. Lauderdale, Florida PCAOB ID 173; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceApr 28, 20051
- Filings1,272 in all: 4 (579), 8-K (185), 5 (145), 10-Q (60), 3 (51), SC 13G/A (26), 4/A (21), 10-K (20)1
All 51 form types
DEF 14A (20), SC 13G (17), 11-K (14), 8-K/A (12), 5/A (9), CORRESP (9), EFFECT (8), UPLOAD (8), S-1/A (6), S-4/A (6), 425 (5), DEFA14A (5), S-8 (5), SC 13D/A (5), 10-Q/A (4), NT 10-Q (4), SC 13D (4), ARS (3), NT 10-K (3), NT 10-K/A (3), S-3 (3), S-4 (3), SCHEDULE 13D/A (3), 10-K/A (2), 424B3 (2), 424B5 (2), FWP (2), REGDEX (2), S-1 (2), 11-K/A (1), 3/A (1), 424B1 (1), 424B4 (1), 8-A12B (1), 8-A12B/A (1), 8-A12G (1), CERTNAS (1), D (1), DEFR14A (1), PRE 14A (1), S-3/A (1), SCHEDULE 13D (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 16, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 10, 2026
Latest 8-K (8-K) Aug 31, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value | FRST | Nasdaq Global Market |
From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Primis Financial Corp. names in Item 1A of its 10-K filed Mar 16, 2026: 39 risks under these headings, as written.5
- Credit Risks
- We are subject to risks related to our concentration of commercial real estate and construction and land development loans.
- We have a meaningful amount of consumer loans that are unsecured and if the borrower defaults on the loan, we have no collateral to recover potential losses.
- A portion of our consumer loan portfolio is originated and serviced by a third-party and includes a credit enhancement, which may not be realizable; the inability to utilize such credit enhancement could be detrimental to our financial condition and results of operations.
- A significant amount of our third-party serviced consumer loans were originated during a zero-interest promotional period, exposing us to third-party credit risk for interest foregone in the event of borrower prepayment; the failure of such third-party to perform under its reimbursement obligation could be detrimental to our financial condition and results of operations.
- A significant amount of our loans are secured by real estate and any declines in real estate values in our primary markets could be detrimental to our financial condition and results of operations.
- If our nonperforming assets increase, our earnings will suffer.
- If our allowance for credit losses is not adequate to cover actual loan losses, our earnings will decrease.
- We are subject to credit quality risks and our credit policies may not be sufficient to avoid losses.
- Our mortgage revenue is cyclical and is sensitive to the level of interest rates, changes in economic conditions, decreased economic activity, and slowdowns in the housing market, any of which could adversely impact our profits.
- Market Risks
- Our profitability depends significantly on local economic conditions in the areas where our operations and loans are concentrated, and our geographic concentration makes us vulnerable to local weather catastrophes, public health issues, and other external events, which could adversely affect our results of operations and financial condition.
The other 29 risks
- Our earnings are subject to interest rate risk.
- Unstable global economic conditions may have serious adverse consequences on our business, financial condition, and operations.
- Declines in asset values may result in impairment charges and adversely affect the value of our investment securities, financial performance and capital.
- Our stock price can be volatile.
- The trading volume in our common stock is less than that of other larger financial services companies.
- Inflation could negatively impact our business, our profitability and our stock price.
- ESG and DEI risks could adversely affect our reputation and shareholder, employee, client, and third party relationships and may negatively affect our stock price.
- Operational Risks
- Our business strategy includes strategic growth, and our financial condition and results of operations could be negatively affected if we fail to grow or fail to manage our growth effectively.
- We must respond to rapid technological changes and these changes may be more difficult or expensive than anticipated.
- New lines of business, products or services and technological advancements may subject us to additional risks.
- The development and use of artificial intelligence (AI) presents risks and challenges that may adversely impact our business.
- We may not be able to successfully integrate our acquisitions or to realize the anticipated benefits of them.
- The carrying value of goodwill and other intangible assets may be adversely affected.
- We rely on third-party vendors to provide key components of our business infrastructure, which could expose us to operational and financial risks.
- Industry adoption of real-time payments networks could negatively impact financial performance through reductions in product profitability, increased liquidity reserves and the potential for increased fraud losses, among other risks.
- We face significant cyber and data security risk that could result in the disclosure of or access to sensitive, confidential and/or nonpublic personal information, adversely affect our business or reputation and expose us to significant liabilities.
- Financial services companies depend on the accuracy and completeness of information about customers and counterparties and inaccuracies in such information, including as a result of fraud, could adversely impact our business, financial condition and results of operations.
- We are dependent on key personnel and the loss of one or more of those key personnel could impair our relationship with our customers and adversely affect our business.
- Deposit insurance premiums levied against us could increase.
- Liquidity Risks
- Liquidity risk could impair our ability to fund operations and jeopardize our financial condition, results of operations and cash flows.
- Adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties, could adversely affect our current and projected business operations and its financial condition and results of operations.
- Capital Adequacy Risks
- Future growth or operating results may require us to raise additional capital, but that capital may not be available, be available on unfavorable terms or may be dilutive.
- We may issue a new series of preferred stock or debt securities, which would be senior to our common stock and may cause the market price of our common stock to decline.
- We currently intend to pay dividends on our common stock; however, our future ability to pay dividends is subject to restrictions.
- Regulatory Risks
- We are heavily regulated by federal and state agencies; changes in laws and regulations or failures to comply with such laws and regulations may adversely affect our operations and our financial results.
- As a regulated entity, Primis and the Bank must maintain certain required levels of regulatory capital that may limit our operations and potential growth.
- We are subject to commercial real estate lending guidance issued by the federal banking regulators that impacts our operations and capital requirements.
- Changes in accounting standards or assumptions in applying accounting policies could adversely affect us.
- Financial Reporting Risks
- Failure to maintain an effective system of disclosure controls and procedures could have a material adverse effect on our business, results of operations and financial condition and could impact the price of our common stock.
Legal proceedings
Primis and Primis Bank are from time to time a party, as both plaintiff and defendant, to various claims and proceedings arising in the ordinary course of our business, including administrative and/or legal proceedings that may include employment-related claims, as well as claims of lender liability, breach of contract, and other similar lending-related claims. While the ultimate resolution of these matters cannot be determined at this time, the Company’s management presently believes that such matters, individually and in the aggregate, will not have a material adverse effect on our financial condition or results of operations. There are no proceedings pending, or to management’s knowledge, threatened, that represent a significant risk against the Company as of December 31, 2025.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARR. Roderick Porter, Chair
- 18SEC EDGARJeffrey Culver, President
- 19SEC EDGARR. Roderick Porter, President
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- 29SEC EDGARRickey Allen Fulk, EVP, President
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- 33SEC EDGARJoe A. Shearin, Consultant
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- 42SEC EDGARR. Roderick Porter, Vice chair
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- 47SEC EDGARGeorgia S. Derrico, Officer
- 48SEC EDGARWilliam H. Lagos, Officer
- 49SEC EDGARWilliam H. Stevens, Officer
- 50SEC EDGARScott R. Gamble, Board member
- 51SEC EDGARJason Brock Saunders, Board member
- 52SEC EDGARMargaret M. Weichert, Board member
- 53SEC EDGARJohn M. Eggemeyer Iii., Board member
- 54SEC EDGARDeborah Diaz, Board member
- 55SEC EDGARDaniel H. Burch, Board member
- 56SEC EDGARF. L. Garrett Iii., Board member
- 57SEC EDGARJohn Fitzgerald Biagas, Board member
- 58SEC EDGARRobert Yates Clagett, Board member
- 59SEC EDGARW. Bruce Jennings, Board member
- 60SEC EDGARFrederick L. Bollerer, Board member
- 61SEC EDGARCharles A. Kabbash, Board member
- 62SEC EDGARJohn J. Forch, Board member
- 63SEC EDGARMichael A. Gaffney, Board member
- 64SEC EDGARNeil J. Call, Board member
- 65SEC EDGARRobin R. Shield, Board member
- 66SEC EDGARExecutive or director change
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- 68SEC EDGARExecutive or director change
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- 72SEC EDGAROther events
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