Primis Financial Q1 net income $2.7M vs. Q4 loss $23.3M; declares $0.10 dividend

Primis Financial Corp.

2025-Q1 EPS reported $0.92

EPS of $0.11 vs. loss of $0.94 in Q4 2024; normalized net income $5.1M after $1.9M consumer loan provision.
Net interest margin improved to 3.15% from 2.90% QoQ; cost of deposits fell 28 bps to 2.52%.
Mortgage lock volume $257M, up 27% QoQ; Primis Mortgage earned $0.8M pre-tax vs. $0.4M loss in Q4.
Nonperforming assets remain low at 0.28% of total assets; core net charge-offs 0.06% of avg loans.
Expects $6-7M annual core consolidation savings; normalized ROA of 0.56% in Q1 2025.

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