Primis Bank enters sale-leaseback deal, gains $50 million, boosts capital levels.

Primis Bank has entered into a sale-leaseback transaction for 18 branch properties, generating a pre-tax gain of $50 million. The deal is expected to boost the bank's tangible book value by 13.2% and recurring earnings by 15.0%. The transaction also provides an opportunity to restructure the balance sheet, improve operating earnings, and build capital levels to support growth in 2026 and 2027.