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Primis Financial (FRST) guidance and outlook

Primis Financial's 10-Q filed Nov 9, 2026 makes 13 forward-looking statements.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 9, 2026

• We organized the core bank and lines of business in a way that we believe will drive premium operating results.
• We continue to experience increases in bank-owned life insurance income as a result of a restructuring of that portfolio, which is expected to be completed in the last quarter of 2026, and a $400 thousand death benefit received during the quarter.
• Lastly, we experienced a $1 million increase in bank-owned life insurance income largely as a result of the restructure of that portfolio, which is expected to be completed in the fourth quarter of 2026.
• We will generally place a loan on nonaccrual status when it becomes 90 days past due, with the exception of most consumer loans, which are charged off at 120 days past due and Consumer Program loans, which are charged off once they reach 90 days past due.
• Whether losses and delinquencies in our portfolio will increase significantly depends upon the value of the real estate securing the loans and economic factors, such as the overall economy, rising or elevated interest rates, historically high or persistent inflation, and recessionary concerns.
• The allowance for credit losses is based on the CECL methodology and represents management’s estimate of an amount appropriate to provide for expected credit losses in the loan portfolio.
• This estimate is based on historical credit loss information adjusted for current conditions and reasonable and supportable forecasts applied to various loan types that compose our portfolio, including the effects of known factors such as the economic environment within our market area will have on net losses.
• We believe that the allowance for credit losses as of September 30, 2026 is sufficient to absorb future expected credit losses in our loan portfolio based on our assessment of all known factors affecting the collectability of our loan portfolio.
• As of September 30, 2026, the principal balance outstanding of Consumer Program loans was $69 million, inclusive of a $4 million discount as a result of our prior decision to market a majority of the portfolio for sale, which has since been moved back to LHFI and will be run-off over time.
• Our ability to attract and maintain deposits, and the effect of such retention on our cost of funds, has been, and will continue to be, significantly affected by the general economy and market rates of interest.
• We prepare a cash flow forecast on a 30, 60 and 90 day basis along with a one and two year basis.
• These projections incorporate expected cash flows on loans, investment securities, and deposits based on data used to prepare our interest rate risk analyses.

Primis Financial's latest quarter

Questions

What does Primis Financial expect?

We organized the core bank and lines of business in a way that we believe will drive premium operating results. We continue to experience increases in bank-owned life insurance income as a result of a restructuring of that portfolio, which is expected to be completed in the last quarter of 2026, and a $400 thousand death benefit received during the quarter. Lastly, we experienced a $1 million increase in bank-owned life insurance income largely as a result of the restructure of that portfolio, which is expected to be completed in the fourth quarter of 2026.

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Updated Nov 9, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.