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Primis Bank

Tappahannock, VA · Cert 57968 · Primis Financial Corp.

State charter, Fed member · FED · 28 branches

Q2 2026

$4.3BAssets
$3.7BLoans
$3.5BDeposits
$478.2MEquity
Loan mix
72%RE $2.2B19%C&I $0.6B9%Consumer $0.3BQ2 2025Q2 2026
Deposit mix
86%Interest-bearing $3.0B14%Noninterest $0.5BQ2 2025Q2 2026

NIM

5.34%Q2 ’245.06%Q2 ’255.38%Q2 ’26+5%+18%

Non-interest income vs. expense

2.84%Q2 ’243.37%Q2 ’253.59%Q2 ’26+29%-32%

Market Position · Richmond, VA · 2026 SOD (annual) · 2.4% share · #7 of 30 inst. · $1.5B of $60.7B

0.8% Fairfax
5.5% Henrico
12.7% Hanover
21.0% Colonial Heights (City)

Executive Summary

  • Earnings: ROA of 1.09%, up 133 bps year over year; NIM at 3.45%.
  • Asset quality: problem loans at 1.83% of loans (-57 bps YoY), with net charge-offs at 0.63%.
  • Capital: tier 1 leverage ratio of 9.51%, up 19 bps from a year ago.
  • Funding: loans stand at 107.00% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.09%+133 bps YoY

Net Interest Margin (quarter, annualized)

3.45%+53 bps YoY

Efficiency Ratio (quarter, annualized)

65.84%-1,792 bps YoY

Tier 1 Leverage Ratio

9.51%+19 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.23%0.82%3.26%0.95%1.09%+133 bps
Return on Equity-2.08%7.55%28.93%8.33%9.86%+1,194 bps
Net Interest Margin2.92%3.29%3.42%3.44%3.45%+53 bps
Efficiency Ratio83.76%75.82%39.98%70.64%65.84%-1,792 bps
Non-Interest Burden2.23%2.15%-2.58%1.98%1.52%-72 bps
Growth
Asset Growth (YoY)-3.08%-1.92%9.51%15.58%13.10%+1,619 bps
Loan Growth (YoY)-4.05%-0.86%10.07%16.11%13.55%+1,760 bps
Deposit Growth (YoY)-0.27%1.15%6.84%7.54%2.86%+313 bps
Asset Quality
Nonperforming Loans / Loans2.40%2.55%2.51%2.77%1.83%-57 bps
Net Charge-Offs / Loans0.78%0.14%0.15%0.12%0.63%-14 bps
Allowance / Loans1.41%1.32%1.33%1.28%1.24%-17 bps
Allowance Coverage of NPLs0.6x0.5x0.5x0.5x0.7x+0.1x
Capital
Tier 1 Leverage Ratio9.32%9.34%9.74%9.69%9.51%+19 bps
Total Risk-Based Capital11.62%11.39%11.99%11.76%11.88%+26 bps
Equity / Assets10.94%10.88%11.62%11.14%11.03%+9 bps
Liquidity & Funding
Loans / Deposits96.93%100.91%100.52%105.47%107.00%+1,008 bps
Liquid Assets / Assets2.07%1.32%3.12%2.95%2.64%+57 bps
CRE / Total Capitaln/a380%358%361%n/an/a