Primis Financial Corp. (FRST) Earnings
Primis Financial Corp. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.39. FRST has beaten EPS estimates in 2 of its last 8 reported quarters (average surprise -188.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $0.32 | $0.33 | +3.1% | $44M | -0.2% |
| Mar 16, 2026 | — | $1.20 | — | $103M | — |
| Oct 23, 2025 | $0.32 | $0.28 | -12.5% | $41M | +35.7% |
| Jul 24, 2025 | $0.24 | $0.11 | -54.2% | $35M | +16.2% |
| Apr 22, 2025 | — | $-0.94 | — | $64M | — |
| Jan 28, 2025 | $0.11 | $-0.65 | -690.9% | $37M | +50.6% |
| Dec 11, 2024 | — | $0.14 | — | $63M | — |
| Oct 26, 2023 | $0.18 | $0.32 | +77.8% | $34M | +33.7% |
| Jul 27, 2023 | $0.25 | $0.04 | -84.0% | $32M | +20.3% |
| Apr 27, 2023 | $0.29 | $0.23 | -20.7% | $43M | +23.5% |
| Mar 15, 2023 | — | $0.13 | — | $50M | — |
| Oct 27, 2022 | $0.27 | $0.21 | -22.2% | $31M | -0.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 24, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- President Dennis Sever reported earnings, noting operating earnings were up 126% year - over - year. - Net interest margin benefited from securities restructure and mix of earning assets. - Focus on growing checking accounts to about 20% of total deposits. - Driving operating leverage with core revenue up 34% over a year ago while operating expenses were only 4% higher. - AI is a key strategy, expecting to be the undisputed leader among banks under $10 billion using AI to drive various results in a year. - Core bank deposits were attractive, with focus on growing non - interest - bearing deposits. - Mortgage Warehouse fully replaced Life Proving Finance, retail mortgage had strong production, and recruiting pipeline was strong.
Guidance
- Expect margin expansion due to loan repricing tailwinds and debt payoff. - Primus Mortgage is on track to be a top 50 mortgage company nationwide in 2026. - Aim to continue operating leverage, with AI as a key strategy. - Expect to hit profitability goal in 2026.
Segment performance
First quarter earnings: earned $7.3 million or 30 cents per share, while operating earnings were 33 cents per share, up 126% from the same quarter in 2025. Net interest margin climbed to 3.43% in the first quarter compared to 3.15% in the same quarter of 2025. Loans ended at $3.4 billion, a 11.7% increase compared to the same quarter in 2026. Deposit growth was just better than 8%, with non - interest bearing checking accounts growing to $541 million, almost 19% higher than in 2025, accounting for 15.9% of total deposits. Mortgage Warehouse had about $460 million outstanding and is expected to double in 12 - 18 months. Retail mortgage pre - tax income grew to $2.1 million in the first quarter compared to $766,000 in the same quarter a year ago, with earnings on closed volume at 57 basis points vs 46 basis points in the same period a year ago.
Risks & headwinds
- Forward - looking statements involve risk and uncertainty with factors that can cause actual results to differ from anticipated. - Non - GAAP financial measures need proper comparison to GAAP measures. - Mortgage business impacted by market volatility, Middle East activities, etc.
Analyst Q&A
Q: About mortgage production expectations and expense in 2026 first quarter,
A: Expect production around $1 - 2 billion, no unusual expenses, margin on closed volume up, construction perm contributing. -
Q: Net interest margin outlook and deposit costs,
A: Expect margin expansion, deposit costs flat in the near term, new commercial loan origination yields in certain ranges. -
Q: Credit on larger relationships,
A: Two commercial real estate deals trending positive with more leasing activity and improving cap rates. -
Q: Digital deposits and mortgage business cap,
A: Digital deposits more expensive but separated from rate focus, mortgage business should be a complement to the bank, not the whole story.