Primis Financial (NASDAQ:FRST) reported second-quarter 2026 net income of $9.4 million, or $0.38 per diluted share, up from $7.3 million, or $0.30 per share, in the first quarter and $2.4 million, or $0.10 per share, a year earlier.
President and Chief Executive Officer Dennis Zember said the quarter reflected revenue growth, contained operating expenses, improved net interest margins, lower nonperforming assets and continued growth in earning assets
Return on average assets rose to 0.90%, from 0.76% in the prior quarter and 0.26% a year earlier. The quarter included a $5.9 million gain from the sale of an insurance agency investment. Primis said it offset that gain with a legal settlement and a reserve build on its largest office commercial real estate credit.
Zember said the company viewed its reported 0.90% return on assets as representative of its recurring operating level. Revenue, Margin and Balance-Sheet Growth Net interest income totaled approximately $33.8 million, compared with $32.1 million in the first quarter and $25.2 million in the year-ago period. Net interest margin was 3.45%, up two basis points sequentially and 59 basis points from 2.86% a year earlier.