Primis Financial Declares $0.10 Quarterly Dividend, 58th Consecutive Payout
Primis Financial Corp., a Virginia-based community bank, has declared a quarterly cash dividend of $0.10 per share. The dividend will be paid May 22 to shareholders of record as of May 8.
Primis Financial Corp. (NASDAQ: FRST), a community bank operating in Virginia and Maryland, declared a quarterly cash dividend of $0.10 per share on April 23, 2026. The dividend will be paid May 22, 2026 to shareholders of record as of May 8, 2026. Read more dividend announcements.
The payout marks the company's 58th consecutive quarterly dividend, underscoring a sustained commitment to shareholder returns dating back more than 14 years.
| Dividend Details | Information |
|---|---|
| Amount | $0.10 per share |
| Record Date | May 8, 2026 |
| Payment Date | May 22, 2026 |
| Frequency | Quarterly |
First Quarter Performance
The dividend declaration accompanied Primis's first quarter 2026 earnings release. The company reported net income available to common shareholders of $7.3 million, or $0.30 per diluted share, for the three months ended March 31, 2026. Operating net income for the period reached $8.1 million, or $0.33 per diluted share, up 126% from $3.6 million in the year-ago quarter.
Net interest income climbed 22% year-over-year to $32.1 million, while net interest margin expanded 28 basis points to 3.43%. Operating return on average assets improved to 0.84% from 0.40% in the first quarter of 2025.
Balance Sheet Expansion
Total assets stood at $4.3 billion as of March 31, 2026, up 15% from $3.7 billion a year earlier. Gross loans held for investment increased 12% to $3.4 billion, while total deposits grew 8% to $3.4 billion.
Noninterest bearing demand deposits reached $541 million at quarter-end, a 19% increase compared to the prior-year period. The company had $230 million in Federal Home Loan Bank advances outstanding at March 31, 2026, up from $25 million at year-end 2025.
Capital Position
Tangible book value per common share reached $13.47 at the end of the first quarter, an 18% increase from $11.40 a year earlier. Tangible common equity ended the quarter at $334 million, representing 8.02% of tangible assets.
Primis operates 24 full-service branches across Virginia and Maryland, providing financial services to individuals and small- and medium-sized businesses.