---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-035485"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-22T23:45:19.622979+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Primis Financial Q3 net income $5.1M, EPS $0.21; NPA jumps; authorizes 3% share buyback

## Summary
- Q3 2022 net income from continuing ops $5.1M ($0.21 basic EPS) vs $6.2M a year ago; total revenue $33.0M up 29.4% YoY.
- Net interest margin of 3.57% (up 70 bps YoY) driven by low deposit beta; loan yield ex-PPP rose to 4.51%.
- Nonperforming assets (ex-SBA) increased to $37.2M from $19.9M at June 30 due to one assisted living relationship; no impairment.
- Board authorized repurchase of up to 739,500 shares (~3% of outstanding) over one year; quarterly dividend of $0.10/share declared.
- Expects $4.1M pre-tax gain in Q4 from Infinex acquisition; mortgage teams recruited with ~$700M annual production potential.

## SEC filing metadata
- accession: 0001564590-22-035485
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000156459022035485/0001564590-22-035485-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000156459022035485/frst-8k_20221027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-035485
- JSON: https://secwatch.observer/filing/0001564590-22-035485.json
- Plain text: https://secwatch.observer/filing/0001564590-22-035485.txt

## Key facts
- Earnings Releases
  Primis Financial Corp. reported the three months ended September 30, 2022 results: revenue $33.0 million, net income $5.1 million, EPS $0.21 on a basic and $0.20 on diluted basis.
  - Period: the three months ended September 30, 2022
  - Revenue: $33.0 million
  - Net income: $5.1 million
  - EPS: $0.21 on a basic and $0.20 on diluted basis
  - Result: reported results
  source text: non-interest bearing checking deposits of $687.3 million, representing 25.4% of total deposits at September 30, 2022, compared to 19.1% at September 30, 2021. Total revenue of $33.0 million in the current quarter of 2022, up 29.4% from the same period in 2021. Tangible common equity to tangible assets and leverage ratio of 8.73% and 9.96%, respectively, are 114
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325670/000156459022035485/0001564590-22-035485-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.