Primis Financial reported net income available to common shareholders of $8.7 million for the third quarter of 2026, up from $6.8 million in the prior year period. Performance was driven by robust expansion in net interest margins and steady loan growth across core divisions, offsetting a significant decline in mortgage sector volumes.
Key Highlights
- Net interest margin expanded to 3.66% (3.59% adjusted for recoveries), up from 3.18% in the third quarter of 2025.
- Core Bank loan growth reached 11% annualized during the quarter, supported by a $160 million pipeline and a 13% YoY increase in average noninterest-bearing deposits.
- Panacea Financial loans outstanding grew 17% annualized to $642 million, while customer deposits in that division rose 56% year-over-year.
- Asset quality improved as nonperforming assets (excluding SBA guarantees) fell to 1.43% of total assets, down from 2.07% in the same period last year.