Primis Bank
Tappahannock, Virginia · $4.34B in assets · beside the 11 other the Southeast banks between $3B and $10B (the state alone holds too few in the band to rank)
The filing
Primis Bank is the eighth largest of the 12 the Southeast banks nearest its size between $3B and $10B, with $4.34B in assets at 30 June 2026. Loans are 107.0% of deposits, 11th of 12 against a median of 87.6%, and equity is 11.0% of assets, 8th of 12. Loans grew +13.6% in the year, 4th of 12, and deposits grew 2.9%; the cohort's median loan growth is +6.0%.
Noncurrent loans are 1.83% of the book, 11th of 12 against a median of 0.60%; 0.75% is 30 to 89 days past due, and the allowance covers them 0.7 times. Net charge-offs are 0.37% of loans, the highest in the cohort. Commercial real estate is 22.0% of loans, 3rd of 12 against a median of 31.2%, and 188% of capital, below the 300% screen, with construction at 35% against the 100% screen.
Return on assets is 1.03%, 11th of 12 against a median of 1.55%, on an efficiency ratio of 68.0%, 11th of 12. Five years ago it was 1.33%. The question is which of these lines moves first over the next four quarters, and against which peer.
SBA 7(a), FY2008 to FY2026
Primis Bank is the 8th largest 7(a) lender into Virginia of 332, with $175M across 522 loans, 2.4% of everything approved in the state (Live Oak Banking Company leads with $669M). 82 of its 112 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| Fairfax, VA | $25M | 13th of 169 | 2.1% | quiet FY2021 |
| Loudoun, VA | $21M | 7th of 134 | 3.5% | -0.1 pts |
| Chesterfield, VA | $21M | 5th of 77 | 7.0% | quiet FY2022 |
| Prince William, VA | $16M | 5th of 105 | 4.3% | +1.6 pts |
| Maricopa, AZ | $8M | 89th of 303 | 0.1% | thin |
| Richmond City, VA | $7M | 4th of 77 | 3.9% | quiet FY2020 |
| Spotsylvania, VA | $6M | 5th of 58 | 4.8% | thin |
| Baltimore City, MD | $5M | 25th of 119 | 1.0% | quiet FY2022 |
| Fauquier, VA | $5M | 2nd of 41 | 8.6% | quiet FY2022 |
| Cuyahoga, OH | $5M | 47th of 145 | 0.2% | thin |
| Allegheny, PA | $5M | 34th of 140 | 0.4% | thin |
| Shenandoah, VA | $5M | 2nd of 19 | 17.8% | quiet FY2016 |
| Henrico, VA | $4M | 23rd of 99 | 1.3% | thin |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Health care & social assistance | 52 | $45M | 17.9% | 0.10% | 144th of 2,172 |
| Manufacturing | 55 | $38M | 15.2% | 0.10% | 189th of 2,246 |
| Accommodation & food services | 100 | $32M | 12.6% | 0.04% | 296th of 2,596 |
| Professional & technical services | 89 | $31M | 12.2% | 0.10% | 137th of 1,955 |
| Retail trade | 77 | $28M | 11.2% | 0.05% | 266th of 2,589 |
Commercial real estate against capital
| Primis Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 188% | 4th of 12 | 221% |
| Construction against capital, the 100% screen | 35% | 4th of 12 | 57% |
| Construction and land development, share of loans | 4.2% | 3rd of 12 | 9.8% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 14.2% | 3rd of 12 | 20.0% |
| Total CRE, the guidance definition, share of loans | 22.0% | 3rd of 12 | 31.2% |
| CRE growth over 36 months, the third prong | -10.0% | 2nd of 12 | +9.6% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $4.80B | 3.6% | 38.6% | 1.01% | -0.83% | 1.5% | 89.0% | 11.3% | |
| $4.70B | 0.9% | 57.4% | 0.28% | 0.01% | 1.1% | 100.9% | 8.7% | |
| $4.66B | 1.7% | 51.5% | 0.42% | 0.06% | 1.3% | 70.1% | 10.0% | |
| $4.49B | 1.2% | 66.7% | 2.96% | 0.11% | 0.8% | 41.7% | 10.4% | |
| $4.47B | 2.0% | 41.0% | 0.44% | 0.01% | 0.7% | 112.3% | 11.5% | |
| $4.45B | 1.5% | 64.8% | 0.40% | 0.12% | 1.2% | 66.4% | 11.9% | |
| $4.44B | 1.6% | 60.0% | 1.40% | 0.20% | 1.1% | 103.6% | 13.2% | |
| $4.34B | 1.0% | 68.0% | 1.83% | 0.37% | 1.2% | 107.0% | 11.0% | |
| $4.28B | 1.8% | 40.0% | 0.28% | 0.22% | 1.3% | 95.2% | 9.9% | |
| $3.99B | 1.2% | 68.7% | 0.51% | 0.06% | 1.3% | 86.3% | 12.3% | |
| $3.61B | 1.1% | 65.0% | 0.76% | 0.28% | 0.9% | 82.7% | 11.2% | |
| $3.61B | 2.0% | 54.2% | 0.70% | 0.17% | 1.3% | 80.9% | 14.2% |
| Primis Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $2.29B | $3.70B | +62% | $2.09B | $3.31B | +58% |
| Deposits | $2.79B | $3.46B | +24% | $2.69B | $3.57B | +33% |
| NPA / loans | 0.64% | 1.83% | +1.19 pts | 0.33% | 0.60% | +0.27 pts |
| Efficiency | 60.4% | 68.0% | +7.7 pts | 61.7% | 58.7% | -3.0 pts |
| ROA | 1.33% | 1.03% | -0.30 pts | 1.31% | 1.55% | +0.24 pts |
This read was prepared for Primis Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Primis Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort Southeast banks $3B to $10B
Institution www.primisbank.com
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