Primis Financial Corp. (NASDAQ: FRST) has just announced the reauthorization of its stock repurchase program, allowing for the repurchase of up to 750,000 outstanding shares of the company's common stock. The program, which commenced on December 18, 2025, will run until December 18, 2026, subject to potential earlier termination or extension by the board of directors or depletion of the designated shares.
Under the previous repurchase plan, the company had purchased 79,549 shares at an average cost of $10.00 per share.
The stock repurchase program allows for the repurchase of shares through open market purchases or privately negotiated transactions, with any open market repurchases to be conducted in accordance with specified limitations and legal requirements. Additionally, repurchases may be made pursuant to a trading plan under rule 10b5-1, allowing for repurchases during trading blackout periods or other regulatory restrictions.
The decision to repurchase shares, as well as the timing and extent of such repurchases, will be influenced by various factors including the company’s stock price performance, general market and economic conditions, regulatory requirements, availability of funds, and other relevant considerations.
Primis Financial Corp. is a significant player in the financial services sector, with $4.0 billion in total assets, $3.2 billion in total loans held for investment, and $3.3 billion in total deposits as of September 30, 2025. The company operates twenty-four full-service branches in Virginia and Maryland and provides services to customers through specific online and mobile applications.
For further information, the company's President and CEO, Dennis J. Zember Jr., and EVP and CFO, Matthew A. Switzer, can be reached at the provided contact details. The company's NASDAQ symbol is FRST.
Source: Primis Financial Corp. The market has reacted to these announcements by moving the company's shares 1.12% to a price of $13.51. For more information, read the company's full 8-K submission here.
