The bank maintains a thin capital buffer with an equity-to-assets ratio of 0.10, while total assets are heavily concentrated in a $3.9 billion investment securities portfolio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Cash & Short Term Investments | 946.47M | 303.42M | 243.22M | 305.97M | 314.17M | 801.5M | 349.42M | 196.75M | 171.19M | 184.43M | 51.31M | 34.55M | 40.6M | 22.85M | 41.59M | 14.94M | 9.74M | 8.07M | 14.76M | 1.31M | 8.13M | 2.91M | 2.28M |
| Cash & Due from Banks | 8.36M | 143.61M | 64.5M | 77.55M | 77.86M | 530.17M | 196.19M | 31.93M | 27.82M | 23.75M | 47.39M | 30.34M | 38.32M | 20.86M | 39.2M | 5.04M | 9.74M | 8.07M | 14.76M | 1.31M | 8.13M | 2.91M | 2.28M |
| Short Term Investments | 0 | 159.81M | 178.72M | 228.42M | 236.31M | 271.33M | 153.23M | 164.82M | 143.38M | 160.67M | 3.92M | 4.21M | 2.29M | 1.99M | 2.39M | 9.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 3.93B | 3.59B | 3.34B | 3.48B | 3.19B | 2.61B | 2.61B | 2.42B | 2.41B | 2.32B | 1.02B | 929.01M | 797.84M | 623.4M | 609.53M | 530.45M | 464.91M | 475.62M | 313.68M | 332.93M | 260.77M | 121M | 93.59M |
| Investments Growth % | 20.32% | 7.61% | -4.2% | 9.08% | 22.51% | -0.31% | 7.96% | 0.49% | 3.83% | 127.9% | 9.6% | 16.44% | 27.98% | 2.28% | 14.91% | 14.1% | -2.25% | 51.63% | -5.78% | 27.67% | 115.51% | 29.29% | - |
| Long-Term Investments | 13.97B | 3.43B | 3.16B | 3.25B | 2.96B | 2.33B | 2.46B | 2.26B | 2.27B | 2.16B | 1.01B | 924.8M | 795.55M | 621.41M | 607.14M | 520.55M | 464.91M | 475.62M | 313.68M | 332.93M | 260.77M | 121M | 93.59M |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 11.88M | 20M | 8.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 408.17K | 259.75K |
| Goodwill & Intangibles | 97.92M | 93.5M | 102.19M | 106.12M | 118.33M | 106.42M | 107.78M | 109.14M | 110.56M | 110.8M | 11.39M | 11.61M | 11.87M | 9.97M | 10.44M | 11.15M | 11.63M | 12.57M | 11.85M | 12.58M | 15.72M | 0 | 0 |
| Goodwill | 93.46M | 93.46M | 93.46M | 93.46M | 104.61M | 101.95M | 101.95M | 101.95M | 101.95M | 100.75M | 10.51M | 10.51M | 10.51M | 9.16M | 9.16M | 9.16M | 8.71M | 8.71M | 8.71M | 8.71M | 10.42M | 0 | 0 |
| Intangible Assets | 4.46M | 36K | 8.73M | 12.66M | 13.72M | 4.46M | 5.83M | 7.19M | 8.61M | 10.05M | 874K | 1.09M | 1.35M | 813K | 1.28M | 2M | 2.92M | 3.86M | 3.14M | 3.87M | 5.29M | 0 | 0 |
| PP&E (Net) | 70.7M | 71.67M | 29.71M | 31.26M | 30.59M | 36.28M | 37.82M | 39.2M | 32.35M | 35.79M | 8.23M | 8.88M | 9.45M | 6.32M | 6.55M | 6.35M | 4.66M | 3.23M | 3.6M | 3.5M | 3.5M | 0 | 0 |
| Other Assets | 111.56M | 293.69M | 131.05M | 136.72M | 127.34M | 104.72M | 98.19M | 100.52M | 106.95M | 106.61M | 50.45M | 49.56M | 49.08M | 47.35M | 49.92M | 52.13M | 96.1M | 106.63M | 83.22M | 26.97M | 2.46M | -2.22M | 1.58M |
| Total Current Assets | 27.36M | 143.61M | 243.22M | 305.97M | 314.17M | 813.38M | 369.42M | 204.96M | 171.19M | 184.43M | 51.31M | 34.55M | 40.6M | 22.85M | 41.59M | 14.94M | 9.74M | 8.07M | 14.76M | 1.31M | 8.13M | 3.31M | 2.54M |
| Total Non-Current Assets | 4.23B | 3.9B | 3.45B | 3.55B | 3.25B | 2.59B | 2.72B | 2.52B | 2.53B | 2.43B | 1.09B | 1B | 876.04M | 693.34M | 682.22M | 596.43M | 581.08M | 602.6M | 417.16M | 375.98M | 282.45M | 119.59M | 95.49M |
| Total Assets | 4.26B | 4.05B | 3.69B | 3.86B | 3.57B | 3.41B | 3.09B | 2.72B | 2.7B | 2.61B | 1.14B | 1.04B | 916.33M | 716.18M | 722.1M | 611.37M | 590.82M | 610.67M | 431.92M | 377.28M | 290.57M | 122.91M | 98.03M |
| Asset Growth % | 20.71% | 9.68% | -4.32% | 8.13% | 4.68% | 10.32% | 13.46% | 0.77% | 3.33% | 128.83% | 10.26% | 13.07% | 27.95% | -0.82% | 18.11% | 3.48% | -3.25% | 41.38% | 14.48% | 29.84% | 136.42% | 25.38% | - |
| Return on Assets (ROA) | 1.14% | 1.59% | -0.43% | -0.21% | 0.41% | 0.96% | 0.79% | 1.22% | 1.27% | 0.13% | 0.95% | 0.95% | 0.92% | 0.87% | 0.99% | 0.73% | 0.67% | -0.9% | 0.3% | 0.52% | 0.49% | -2.04% | 0.38% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 378.12M | 262.17M | 128.56M | 160.72M | 432.52M | 211.49M | 239.63M | 199.68M | 238.73M | 407.75M | 95M | 84.38M | 54.04M | 64.8M | 63.66M | 47.74M | 58.91M | 52.02M | 71.78M | 40.5M | 5.03M | 37M | 19.17M |
| Net Debt | 369.76M | 118.56M | 64.05M | 83.17M | 354.67M | -318.68M | 43.45M | 167.75M | 210.92M | 383.99M | 47.61M | 54.05M | 15.72M | 43.94M | 24.46M | 42.7M | 49.16M | 43.95M | 57.02M | 39.19M | -3.09M | 34.09M | 16.89M |
| Long-Term Debt | 69.31M | 157.5M | 113.07M | 145.99M | 420.31M | 195.03M | 215.33M | 56.68M | 56.67M | 56.66M | 0 | 15M | 25M | 25M | 30.25M | 30M | 35M | 30M | 30M | 25M | 0 | 35.5M | 17M |
| Short-Term Debt | 253.38M | 43.33M | 3.92M | 3.04M | 6.45M | 9.96M | 16.07M | 134.52M | 182.06M | 351.08M | 95M | 69.38M | 29.04M | 39.8M | 33.41M | 17.74M | 23.91M | 22.02M | 41.78M | 15.5M | 5.03M | 1.5M | 2.17M |
| Other Liabilities | 3.45B | 1.2B | 25.54M | 28.08M | 22.7M | 20.77M | 25.88M | 20.54M | 16.67M | 18.58M | 8.12M | 6.8M | 6.2M | 4.42M | 6M | 3.49M | 1.83M | 5.74M | -18.09M | 2.04M | 1.51M | -24.47M | 84.02K |
| Total Current Liabilities | 253.38M | 2.2B | 3.17B | 3.27B | 2.73B | 2.77B | 2.45B | 2.26B | 2.28B | 2.22B | 1.01B | 894.67M | 771.47M | 580.15M | 584.39M | 478.83M | 454.88M | 477.81M | 351.24M | 280.97M | 220.84M | 79.56M | 72.71M |
| Total Non-Current Liabilities | 3.58B | 1.42B | 150.18M | 185.75M | 448.78M | 222.29M | 249.45M | 85.69M | 73.34M | 75.24M | 8.12M | 21.8M | 31.2M | 29.42M | 36.25M | 33.49M | 36.83M | 35.74M | 11.91M | 27.04M | 1.51M | 11.03M | 17.08M |
| Total Liabilities | 3.83B | 3.62B | 3.33B | 3.46B | 3.18B | 3B | 2.7B | 2.34B | 2.35B | 2.29B | 1.02B | 916.47M | 802.35M | 609.57M | 618.93M | 512.32M | 491.71M | 513.55M | 363.15M | 308.01M | 222.35M | 90.59M | 89.8M |
| Total Equity | 427.2M | 422.9M | 364.98M | 397.59M | 388.97M | 411.88M | 390.55M | 377.24M | 348.29M | 322.77M | 126.34M | 119.64M | 113.98M | 106.61M | 103.18M | 99.05M | 99.11M | 97.12M | 68.78M | 69.28M | 68.23M | 32.31M | 8.23M |
| Equity Growth % | 21.35% | 15.87% | -8.2% | 2.22% | -5.56% | 5.46% | 3.53% | 8.31% | 7.91% | 155.47% | 5.61% | 4.96% | 6.91% | 3.33% | 4.16% | -0.06% | 2.05% | 41.22% | -0.72% | 1.54% | 111.14% | 292.6% | - |
| Equity / Assets (Capital Ratio) | 10.04% | 10.45% | 9.89% | 10.31% | 10.91% | 12.09% | 12.64% | 13.86% | 12.89% | 12.35% | 11.06% | 11.55% | 12.44% | 14.89% | 14.29% | 16.2% | 16.78% | 15.9% | 15.92% | 18.36% | 23.48% | 26.29% | 8.4% |
| Return on Equity (ROE) | 11.47% | 15.6% | -4.25% | -1.99% | 3.53% | 7.75% | 5.99% | 9.14% | 10.04% | 1.08% | 8.38% | 7.95% | 6.78% | 5.97% | 6.5% | 4.44% | 4.13% | -5.64% | 1.75% | 2.53% | 2.01% | -11.13% | 4.54% |
| Book Value per Share | 17.28 | 17.13 | 14.78 | 16.11 | 15.77 | 16.74 | 16.03 | 15.51 | 14.35 | 17.27 | 10.17 | 9.70 | 9.56 | 9.17 | 8.90 | 8.55 | 8.55 | 12.85 | 10.12 | 10.07 | 14.14 | 7.68 | 8.73 |
| Tangible BV per Share | 13.32 | 13.35 | 10.64 | 11.81 | 10.97 | 12.42 | 11.61 | 11.02 | 9.79 | 11.34 | 9.25 | 8.76 | 8.56 | 8.31 | 8.00 | 7.58 | 7.55 | 11.18 | 8.37 | 8.25 | 10.88 | 7.68 | 8.73 |
| Common Stock | 248K | 247K | 247K | 247K | 246K | 245K | 243K | 241K | 240K | 239K | 123K | 122K | 122K | 116K | 116K | 116K | 116K | 116K | 68K | 68K | 62K | 8.57K | 8.57K |
| Additional Paid-in Capital | 316.84M | 316.51M | 314.69M | 313.55M | 312.72M | 311.13M | 308.87M | 306.75M | 305.65M | 304.93M | 104.88M | 104.39M | 104.07M | 97.13M | 96.84M | 96.64M | 96.48M | 96.44M | 69.52M | 69.44M | 69.44M | 8.57M | 8.57M |
| Retained Earnings | 114.37M | 109.62M | 58.05M | 84.14M | 101.85M | 97.56M | 77.96M | 69.46M | 44.98M | 18.75M | 22.13M | 15.73M | 12.8M | 12.56M | 9.2M | 5.47M | 5.85M | 4.05M | 1.7M | 489K | -1.25M | -146.8K | -344.05K |
| Accumulated OCI | -3.45M | -2.67M | -21.23M | -21.78M | -25.85M | 1.11M | 3.48M | 783K | -2.59M | -1.15M | -789K | -610K | -3.02M | -3.19M | -2.98M | -3.18M | -3.33M | -3.49M | -2.5M | -718K | -24K | 0 | 0 |
| Treasury Stock | -807K | -807K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Specialized asset concentration risk
According to recent quarterly filings, Primis Financial Corp.'s total assets grew to $4.3 billion by 2026Q1, yet this expansion appears primarily driven by a $3.9 billion investment securities portfolio rather than organic loan growth, suggesting a cautious or constrained approach to traditional credit expansion.
The reliance on a large securities portfolio relative to total assets indicates that the bank is currently prioritizing liquidity or yield-seeking in capital markets over traditional loan book growth. This trajectory warrants monitoring, as it may reflect a strategic pivot to mitigate credit risk or a temporary inability to deploy capital into its specialized lending niches.
Based on reported financial statements, the company maintains a consistent equity-to-assets ratio of 0.10, which, while stable, provides a relatively thin capital buffer given the inherent volatility of the bank's specialized lending segments and the recent fluctuations in quarterly net income.
A 10% equity-to-assets ratio is generally considered adequate for a regional bank, but for an institution pivoting toward higher-risk, specialized national lending, this level of capitalization may limit the bank's ability to absorb unexpected credit shocks. Investors should consider whether this capital position is sufficient to support the aggressive digital transformation and potential loan book expansion.
As reported in recent financial data, the bank's cash and cash equivalents fluctuated significantly, dropping from $143.6 million in 2025Q4 to $8.4 million in 2026Q1, suggesting that the institution relies heavily on its securities portfolio as a primary source of contingent liquidity.
The rapid drawdown in cash balances suggests that the bank is actively managing its liquidity position to fund operations or meet obligations, potentially at the expense of maintaining a larger cash cushion. This strategy appears to prioritize yield, but it leaves the balance sheet more sensitive to market-driven valuation changes in the securities portfolio.
Based on the provided balance sheet data, the concentration of assets in a $3.9 billion securities portfolio against a backdrop of volatile net interest margins suggests a potential duration mismatch that could expose the bank to significant interest rate risk in the coming quarters.
While the bank's specialized lending units are often floating-rate, the large securities book may be fixed-rate, creating a structural tension that complicates NIM management. If interest rates remain elevated or volatile, the bank may face pressure on its net interest income, as the cost of funding digital deposits may rise faster than the yields on its existing asset base.
Quick answers to the most common questions about buying FRST stock.
As of 2025, Primis Financial Corp. (FRST) had total assets of $4.05B including $143.6M in current assets.
Primis Financial Corp. (FRST) carries total debt of $262.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Primis Financial Corp. (FRST) has total shareholders' equity (book value) of $422.9M ($17.13 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Primis Financial Corp. (FRST) reported a current ratio of 0.07x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.