Primis Financial Corp. delivered a profitable fourth quarter with $30 million in net income and marked improvements in net interest margin and efficiency, driven by mortgage growth and strategic balance sheet management.
Primis Financial Corp. delivered a strong third quarter in 2025, with net income significantly increasing to $7 million, or $0.28 per diluted share, compared to $1 million, or $0.05 per diluted share, in the same period last year. This improvement was driven by strong momentum across all business lines, particularly in mortgage banking and mortgage warehouse lending, and an improved net interest margin. The company also saw a recovery in credit losses and managed to control core operating expenses.
Primis Financial Corp. reported net income of $2.7 million, or $0.11 earnings per basic and diluted share, for the first quarter of 2025. This marks a significant improvement from a net loss of $23.3 million in the previous quarter. The company's normalized operations, excluding non-recurring costs, yielded a return on assets of 0.56%.
Primis Financial Corp. reported a net loss available to common shareholders of $14.7 million, or $0.59 loss per share, for Q4 2024, compared to a net loss of $8.2 million, or $0.33 loss per share, for Q4 2023. The results were significantly impacted by the decision to move a third-party originated consumer loan portfolio to held for sale.
Primis Financial Corp. reported a net income available to common shareholders of $1.2 million, or $0.05 per diluted share, for the quarter ended September 30, 2024. Adjusting for non-recurring charges, operating net income available to common shareholders was $2.0 million, or $0.08 per diluted share.
Primis Financial Corp. reported preliminary results for the second quarter of 2024. Pre-tax income included pre-tax losses attributable to PFH and expenses related to accounting advisory and other projects. The Board of Directors declared a dividend of $0.10 per share.
Primis Financial Corp. announced preliminary results for the first quarter of 2024, noting that these results reflect the same accounting methodology as in prior periods and are subject to adjustment based on the SEC's pre-clearance process. The Board of Directors declared a dividend of $0.10 per share payable on May 24, 2024.
Primis Financial Corp. reported a net income available to common shareholders of $8.1 million, or $0.33 per diluted share, for the quarter ended December 31, 2023. The company's results reflected material improvement in operating results and completed a restructuring of the Bank with some branch consolidation.
Primis Financial Corp. reported a net income of $7.6 million for Q3 2023, a 55% increase compared to Q3 2022. Diluted earnings per share increased by 55% to $0.31. The company experienced material improvement in operating results, an improved margin, and substantial new deposit account openings at low rates.
Primis Financial Corp. reported a net income of $5.8 million for Q1 2023, with earnings per share of $0.23. The company's new digital platform drove deposit growth, improved liquidity, and reduced the loans to deposits ratio.
Primis Financial Corp. reported net income from continuing operations of $5.1 million for the quarter ended September 30, 2022. Earnings per share from continuing operations were $0.21 on a basic and $0.20 on diluted basis.
Primis Financial Corp. reported net income from continuing operations of $5.0 million, with earnings per share of $0.20. The company completed the acquisition of SeaTrust Mortgage Company and saw revenue growth outpacing expenses.
Primis Financial Corp. reported a net income of $4.6 million and EPS of $0.19 for Q1 2022, a decrease compared to the previous quarter. The company also announced a definitive agreement to acquire SeaTrust Mortgage Company and declared a quarterly cash dividend of $0.10 per share.
Primis Financial Corp reported a net income of $7.7 million for the quarter ended December 31, 2021, an increase from $3.9 million in the previous quarter. The earnings per share were $0.31 on a basic and diluted basis. Total assets increased by 10.2% compared to the year-ago period, and gross loans, excluding PPP balances, grew an annualized 16% during the quarter. The company successfully launched its new digital bank offering and V1BE service.
Primis Financial Corp. reported net income of $3.9 million for Q3 2021, with diluted earnings per share from continuing operations at $0.25. Total assets reached $3.45 billion, marking a 9.5% increase year-over-year, and gross loans, excluding PPP, grew at an annualized rate of 24%.
Primis Financial Corp. reported a net income of $10.3 million for the quarter ended June 30, 2021, compared to $9.4 million for the quarter ended March 31, 2021. Earnings per share for the three months ended June 30, 2021 were $0.42 on a basic and diluted basis, compared to $0.39 basic and $0.38 diluted for the three months ended March 31, 2021.
Primis Financial Corp. reported a strong first quarter with net income of $9.4 million, a significant increase from the $27 thousand reported in the same quarter of the previous year. The company also announced a new digital banking initiative and declared a quarterly cash dividend of $0.10 per share.
Southern National Bancorp of Virginia, Inc. reported a net income of $9.0 million for the quarter ended December 31, 2020, which is the same compared to the quarter ended December 31, 2019. The earnings per share for the quarter were $0.37 on both a basic and diluted basis, representing no change from the same period in 2019. Total assets ended the year at $3.09 billion.
Southern National Bancorp of Virginia, Inc. reported a net income of $9.6 million for the quarter ended September 30, 2020, compared to $8.9 million for the quarter ended September 30, 2019. The earnings per share for the quarter were $0.40 basic and $0.39 diluted, compared to $0.37 basic and $0.36 diluted for the same period last year.
Southern National Bancorp of Virginia, Inc. reported a net income of $4.7 million for the quarter ended June 30, 2020. The company saw a substantial improvement in revenue and pretax pre-provision earnings and held steady on operating expenses.
Southern National Bancorp of Virginia, Inc. reported a net income of $27 thousand for the quarter ended March 31, 2020, a significant decrease compared to $6.0 million for the same period in 2019. Earnings per share were $0.00, down from $0.25 in the previous year. The quarter's results were impacted by one-time charges related to executive management restructuring and branch closures, although the company saw growth in loans and is actively participating in the SBA Payroll Protection Program.
Southern National Bancorp of Virginia, Inc. reported a net income of $9.0 million for the quarter ended December 31, 2019, compared to $7.7 million for the quarter ended December 31, 2018. Earnings per share for the three months ended December 31, 2019 were $0.37 basic and diluted compared to $0.32 basic and diluted for the three months ended December 31, 2018.