Primis Financial Corp. Appoints New Board Member
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 30 2026
0mins
Source: PRnewswire
- New Board Member: Margaret M. Weichert has been elected to the Board of Directors of Primis Financial Corp., bringing 30 years of success in complex operating environments, which is expected to provide fresh perspectives and leadership to the company.
- Tech and Finance Integration: Weichert's extensive background in the payments industry, including embedded payments, artificial intelligence, and blockchain, is anticipated to drive innovation in fintech, enhancing Primis's competitive edge in the market.
- Rich Management Experience: Having served as the Deputy for Management at the Office of Management and Budget, Weichert has led businesses with revenues in the billions, and her leadership skills are expected to help Primis achieve higher profitability and business transformation.
- Strategic Fit: Primis CEO Dennis J. Zember stated that Weichert's unique combination of technology and financial expertise will be crucial for the company's future, particularly in building a highly profitable tech-forward organization.
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About FRST
Primis Financial Corp. is the bank holding company for Primis Bank (the Bank), a Virginia state-chartered bank. The Bank provides a range of financial services to individuals and small- and medium-sized businesses through approximately 24 full-service branches in Virginia and Maryland and provides services to customers through certain online and mobile applications. The Company's segments include Primis Bank and Primis Mortgage. The Primis Bank segment specializes in providing financing services to businesses in various industries and deposit-related services to businesses, consumers and other customers. The Primis Mortgage segment specializes in originating mortgages in a majority of the United States. The Bank invests in real estate-related securities, including collateralized mortgage obligations and agency mortgage-backed securities. The Bank offers a broad range of deposit products, including checking (NOW), savings, money market accounts and certificates of deposit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Primis Financial Corp. Appoints New Board Member
- New Board Member: Margaret M. Weichert has been elected to the Board of Directors of Primis Financial Corp., bringing 30 years of success in complex operating environments, which is expected to provide fresh perspectives and leadership to the company.
- Tech and Finance Integration: Weichert's extensive background in the payments industry, including embedded payments, artificial intelligence, and blockchain, is anticipated to drive innovation in fintech, enhancing Primis's competitive edge in the market.
- Rich Management Experience: Having served as the Deputy for Management at the Office of Management and Budget, Weichert has led businesses with revenues in the billions, and her leadership skills are expected to help Primis achieve higher profitability and business transformation.
- Strategic Fit: Primis CEO Dennis J. Zember stated that Weichert's unique combination of technology and financial expertise will be crucial for the company's future, particularly in building a highly profitable tech-forward organization.
See More
Primis Financial Corp. Appoints New Board Member
- New Board Appointment: Primis Financial Corp. has appointed Margaret M. Weichert to its Board of Directors, bringing 30 years of success in financial services, which is expected to enhance the company's strategic technology and financial expertise.
- Tech-Finance Synergy: Weichert's innovative experience in the payments industry, evidenced by 16 U.S. patents and significant contributions to payment product and business model innovations, will help Primis maintain competitiveness in the tech-driven financial services market.
- Financial Health: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in financial services, and Weichert's addition is anticipated to further boost profitability.
- Leadership Confidence: CEO Dennis J. Zember expressed that Weichert's unique combination of technology and financial expertise will be crucial for the company's future, particularly in building a highly profitable tech-forward organization.
See More
Major Wall Street Rating Changes on Friday
- Diageo Upgrade: TD Cowen upgraded Diageo from hold to buy, citing valuation dislocation as an attractive entry point, with CEO-led cost cuts and reinvestment expected to restore growth and enhance commercial execution.
- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
- Nike Downgrade: KeyBanc downgraded Nike from overweight to sector weight, indicating that the turnaround is taking longer than anticipated, with slight reductions in FY27 estimates reflecting higher-than-expected headwinds in China and EMEA.
- American Tower Upgrade: RBC upgraded American Tower from sector perform to outperform, noting superior organic revenue growth compared to peers, despite rising interest rate pressures, indicating strong market potential.
See More
Primis Financial Corp. Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors during the annual shareholders' meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's insights into commercial and retail banking.
- Diverse Background: J. Brock Saunders, Managing Partner at Mattock Capital, has extensive financial services experience, including serving as President and CIO at James River Capital, and his expertise in capital markets and investing is anticipated to provide valuable perspectives to the Primis Board.
- Asset Scale: As of March 31, 2026, Primis Financial Corp. reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in the financial services sector that can support future business expansion.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their service, emphasizing their contributions during their tenure, ensuring that the new members' addition will continue to drive the company's growth.
See More
Primis Financial Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors at the annual shareholder meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's commercial and retail banking management.
- Diverse Background: Saunders, as Managing Partner at Mattock Capital, previously served as President and CIO at James River Capital, and his extensive experience in capital markets and investing will provide valuable insights to Primis' Board, aiding in strategic decision-making.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their contributions during their tenure, with Gamble and Saunders filling their respective seats, ensuring continuity and professionalism within the board.
- Financial Overview: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, reflecting a solid foundation in the financial services sector, and plans to expand market reach through 24 full-service branches and online services.
See More
Primis Financial Corp. Reports Q1 2026 Earnings Insights
- Earnings Performance: Primis Financial reported a profit of $7.3 million for Q1 2026, translating to $0.30 per share, with an operating basis EPS of $0.33, demonstrating effective control over operating expenses despite a significant gain from the deconsolidation of Panacea in Q1 2025.
- Net Interest Margin Improvement: The net interest margin increased to 3.43% in Q1, up from 3.28% in the previous quarter, with net interest income around $32 million, indicating successful funding and balance sheet management, with expectations for continued margin expansion throughout 2026.
- Mortgage Business Growth: The retail mortgage segment had a standout quarter with pretax income reaching $2.1 million, showcasing strong growth potential in the mortgage market, with aspirations to rank among the top 50 mortgage companies nationwide by 2026.
- AI Strategic Deployment: Management views AI as a critical catalyst for driving operational results and fraud prevention, projecting that within a year, Primis Financial will become the undisputed leader among banks under $10 billion, enhancing its competitive edge in the market.
See More
Primis Financial Corp. Appoints New Board Member
- New Board Member: Margaret M. Weichert has been elected to the Board of Directors of Primis Financial Corp., bringing 30 years of success in complex operating environments, which is expected to provide fresh perspectives and leadership to the company.
- Tech and Finance Integration: Weichert's extensive background in the payments industry, including embedded payments, artificial intelligence, and blockchain, is anticipated to drive innovation in fintech, enhancing Primis's competitive edge in the market.
- Rich Management Experience: Having served as the Deputy for Management at the Office of Management and Budget, Weichert has led businesses with revenues in the billions, and her leadership skills are expected to help Primis achieve higher profitability and business transformation.
- Strategic Fit: Primis CEO Dennis J. Zember stated that Weichert's unique combination of technology and financial expertise will be crucial for the company's future, particularly in building a highly profitable tech-forward organization.
See More
Primis Financial Corp. Appoints New Board Member
- New Board Appointment: Primis Financial Corp. has appointed Margaret M. Weichert to its Board of Directors, bringing 30 years of success in financial services, which is expected to enhance the company's strategic technology and financial expertise.
- Tech-Finance Synergy: Weichert's innovative experience in the payments industry, evidenced by 16 U.S. patents and significant contributions to payment product and business model innovations, will help Primis maintain competitiveness in the tech-driven financial services market.
- Financial Health: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in financial services, and Weichert's addition is anticipated to further boost profitability.
- Leadership Confidence: CEO Dennis J. Zember expressed that Weichert's unique combination of technology and financial expertise will be crucial for the company's future, particularly in building a highly profitable tech-forward organization.
See More
Major Wall Street Rating Changes on Friday
- Diageo Upgrade: TD Cowen upgraded Diageo from hold to buy, citing valuation dislocation as an attractive entry point, with CEO-led cost cuts and reinvestment expected to restore growth and enhance commercial execution.
- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
- Nike Downgrade: KeyBanc downgraded Nike from overweight to sector weight, indicating that the turnaround is taking longer than anticipated, with slight reductions in FY27 estimates reflecting higher-than-expected headwinds in China and EMEA.
- American Tower Upgrade: RBC upgraded American Tower from sector perform to outperform, noting superior organic revenue growth compared to peers, despite rising interest rate pressures, indicating strong market potential.
See More
Primis Financial Corp. Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors during the annual shareholders' meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's insights into commercial and retail banking.
- Diverse Background: J. Brock Saunders, Managing Partner at Mattock Capital, has extensive financial services experience, including serving as President and CIO at James River Capital, and his expertise in capital markets and investing is anticipated to provide valuable perspectives to the Primis Board.
- Asset Scale: As of March 31, 2026, Primis Financial Corp. reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, indicating a solid foundation in the financial services sector that can support future business expansion.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their service, emphasizing their contributions during their tenure, ensuring that the new members' addition will continue to drive the company's growth.
See More
Primis Financial Elects New Board Members
- New Board Members: Primis Financial Corp. elected Scott R. Gamble and J. Brock Saunders to its Board of Directors at the annual shareholder meeting, with Gamble bringing 38 years of banking experience, including his role as Regional President at BB&T, which is expected to enhance the company's commercial and retail banking management.
- Diverse Background: Saunders, as Managing Partner at Mattock Capital, previously served as President and CIO at James River Capital, and his extensive experience in capital markets and investing will provide valuable insights to Primis' Board, aiding in strategic decision-making.
- Acknowledgment of Former Directors: The company expressed gratitude to Robert Clagett and Charles Kabbash for their contributions during their tenure, with Gamble and Saunders filling their respective seats, ensuring continuity and professionalism within the board.
- Financial Overview: As of March 31, 2026, Primis reported total assets of $4.3 billion, with total loans and deposits both at $3.4 billion, reflecting a solid foundation in the financial services sector, and plans to expand market reach through 24 full-service branches and online services.
See More
Primis Financial Corp. Reports Q1 2026 Earnings Insights
- Earnings Performance: Primis Financial reported a profit of $7.3 million for Q1 2026, translating to $0.30 per share, with an operating basis EPS of $0.33, demonstrating effective control over operating expenses despite a significant gain from the deconsolidation of Panacea in Q1 2025.
- Net Interest Margin Improvement: The net interest margin increased to 3.43% in Q1, up from 3.28% in the previous quarter, with net interest income around $32 million, indicating successful funding and balance sheet management, with expectations for continued margin expansion throughout 2026.
- Mortgage Business Growth: The retail mortgage segment had a standout quarter with pretax income reaching $2.1 million, showcasing strong growth potential in the mortgage market, with aspirations to rank among the top 50 mortgage companies nationwide by 2026.
- AI Strategic Deployment: Management views AI as a critical catalyst for driving operational results and fraud prevention, projecting that within a year, Primis Financial will become the undisputed leader among banks under $10 billion, enhancing its competitive edge in the market.
See More
