Primis Financial Reports 126% Surge in Operating Net Income for Q1 2026, Declares Quarterly Dividend

summarizeSummary

Primis Financial Corp. announced strong Q1 2026 operating results, with operating net income up 126% year-over-year, alongside an increase in net interest income and tangible book value, and a consistent quarterly dividend.

check_boxKey Events

• Strong Q1 2026 Operating Results

  Operating net income available to common shareholders for Q1 2026 was $8.1 million, or $0.33 per diluted share, a 126% increase from $3.6 million, or $0.14 per diluted share, in Q1 2025.

• Significant Profitability Growth

  Net interest income increased 22% year-over-year to $32.1 million, and net interest margin improved by 28 basis points to 3.43%.

• Improved Tangible Book Value

  Tangible book value per common share rose 18% year-over-year to $13.47 at the end of Q1 2026.

• Consistent Quarterly Dividend Declared

  The Board of Directors declared a quarterly cash dividend of $0.10 per share, maintaining its fifty-eighth consecutive quarterly dividend.

auto_awesomeAnalysis

Primis Financial Corp. reported robust first-quarter 2026 operating results, demonstrating significant progress in its profitability initiatives. Operating net income available to common shareholders surged 126% year-over-year, indicating strong operational execution following the turnaround reported in the previous 10-K. The company also achieved a 22% increase in net interest income and an 18% rise in tangible book value per share compared to the prior year. While non-performing assets saw a slight quarter-over-quarter increase, the company noted this was primarily due to a single relationship that has since made payments, mitigating the concern. The consistent quarterly dividend declaration further signals stability and confidence in ongoing performance. These strong results, delivered while the stock is trading near its 52-week high, suggest continued positive momentum for the company.