Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Primis Financial Corp and its officers or directors [1] Financial Performance - Primis reported a net loss of $14.7 million, or $0.59 loss per share, for Q4 2024, compared to a net loss of $8.2 million, or $0.33 loss per share, for Q4 2023 [2] - The company's earnings were significantly impacted by the decision to move a third-party originated consumer loan portfolio to held for sale in Q4 2024 [2] Stock Market Reaction - Following the financial results announcement, Primis's stock price decreased by $0.93, or 8.14%, closing at $10.50 per share on January 29, 2025 [3]

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, the Company's man ...

Financial Performance - Primis Financial Corp. reported a net loss of $14.7 million or $0.59 loss per share for Q4 2024, compared to a net loss of $8.2 million or $0.33 loss per share in Q4 2023[2]. - For the full year 2024, the net loss available to common shareholders was $7.5 million or $0.31 per share, an improvement from a loss of $7.8 million or $0.32 per share in 2023[2]. - Net income attributable to Primis' common shareholders was a loss of $14,670 thousand in Q4 2024, compared to a profit of $1,228 thousand in Q3 2024[48]. - Earnings per common share (diluted) for Q4 2024 was $(0.59), compared to $0.05 in Q3 2024[43]. - Return on average assets for Q4 2024 was (1.53)%, a decline from 0.12% in Q3 2024, highlighting challenges in asset utilization[52]. - The operating return on average common equity for Q4 2024 was (16.64)%, compared to 2.15% in Q3 2024[43]. - Pre-tax pre-provision operating earnings decreased to $3,251 thousand in Q4 2024 from $9,531 thousand in Q3 2024, showing a downward trend in operational performance[52]. - The efficiency ratio for Q4 2024 was 94.59%, up from 82.98% in Q3 2024[43]. Income and Expenses - Noninterest income for Q4 2024 was $13.2 million, an increase from $9.3 million in Q3 2024, although it decreased to $8.4 million when excluding the net gain from the Life Premium Finance sale[20]. - Net interest income decreased by approximately $1.9 million, or 7%, to $26.1 million in Q4 2024 compared to Q3 2024, impacted by interest reversals on charged-off loans[17]. - Net interest income after provision for credit losses was $3,094 thousand in Q4 2024, down from $20,512 thousand in Q3 2024, a decrease of approximately 85.0%[47]. - Provision for credit losses increased significantly to $23,046 thousand in Q4 2024 from $7,511 thousand in Q3 2024, an increase of approximately 206.5%[47]. - The company reported a significant increase in employee compensation and benefits to $15,717 thousand in Q4 2024 from $16,764 thousand in Q3 2024, a decrease of approximately 6.3%[48]. Loans and Deposits - The Bank's loan pipeline at the end of 2024 was approximately $119 million, with 88% representing new customers, compared to $51 million and 21% at the end of 2023[7]. - Total deposits decreased to $3.17 billion at December 31, 2024, from $3.31 billion at September 30, 2024, while noninterest bearing demand deposits rose 4.2% to $439 million[27]. - Total loans receivable, net of deferred fees decreased to $2,907,914 thousand in Q4 2024 from $2,973,723 thousand in Q3 2024, representing a decline of 2.2%[49]. - Loans held for investment decreased to $2.91 billion at December 31, 2024, from $2.97 billion at September 30, 2024, reflecting a 2.2% unannualized increase when including reclassified loans[23]. - Total real estate loans stood at $2,001,550 thousand in Q4 2024, a slight decrease from $2,022,590 thousand in Q3 2024, showing a decline of 1.6%[49]. - Consumer loans decreased to $284,955 thousand in Q4 2024 from $409,754 thousand in Q3 2024, a significant drop of 30.4%[49]. - Commercial loans increased to $614,162 thousand in Q4 2024, up from $533,998 thousand in Q3 2024, representing a growth of 15.0%[49]. Asset Quality - Nonperforming assets were 0.29% of total assets, or $10.8 million, at December 31, 2024, compared to 0.25% or $10.2 million at September 30, 2024[24]. - Net charge-offs increased to $31.0 million in Q4 2024 from $8.0 million in Q3 2024, with Consumer Program net charge-offs at $30.5 million[26]. - The allowance for credit losses to total loans was 1.49% in Q4 2024, down from 1.72% in Q3 2024[43]. - Non-performing assets increased to $16,740 thousand in Q4 2024, up from $16,138 thousand in Q3 2024, indicating a rise of 3.7%[49]. - The allowance for credit losses at the end of Q4 2024 was $(43,227) thousand, a decrease from $(51,132) thousand in Q3 2024, reflecting an improvement in asset quality[49]. Capital and Equity - The common equity tier 1 capital ratio for Q4 2024 was 8.64%, an increase from 8.23% in Q3 2024[43]. - The total risk-based capital ratio improved to 12.35% in Q4 2024 from 11.68% in Q3 2024[43]. - Total Primis common stockholders' equity decreased to $360,462 thousand in Q4 2024 from $381,022 thousand in Q3 2024, indicating a reduction in shareholder equity[52]. - Book value per common share decreased to $14.58 in Q4 2024 from $15.41 in Q3 2024, reflecting a decline in the company's net asset value[52]. - Primis common stockholders' equity increased to $382,466 in Q4 2024 from $377,314 in Q3 2024, a rise of 1.5%[50]. Dividends - The Board of Directors declared a dividend of $0.10 per share, marking the fifty-third consecutive quarterly dividend[32]. - Cash dividend per common share remained stable at $0.10 for the last four quarters[43].

Core Financial Performance - Primis Financial Corp reported a net loss of $14.7 million or $0.59 loss per share for Q4 2024, compared to a net loss of $8.2 million or $0.33 loss per share in Q4 2023 [1] - For the full year 2024, the net loss available to common shareholders was $7.5 million or $0.31 per share, slightly improved from a loss of $7.8 million or $0.32 per share in 2023 [1] - The company's net interest income decreased by approximately $1.9 million, or 7%, to $26.1 million in Q4 2024 compared to Q3 2024 [16] Strategic Initiatives - The company has repositioned its business focus towards more profitable lines, including mortgage warehouse lending and a new partnership with a national builder [2][7] - Primis sold its Life Premium Finance business and moved a significant portion of its consumer loan portfolio to held for sale, which is expected to enhance shareholder value [2][14] - The mortgage warehouse lending division is anticipated to add up to 15 basis points of additional return on assets once it reaches scale in 2025 [2] Core Community Bank Operations - The core community bank has 24 branches in Virginia and Maryland, with customer deposits totaling $2.2 billion at the end of 2024 [4] - The cost of deposits was 1.87%, which is lower than many larger regional competitors [4] - The bank's loan pipeline ended 2024 at approximately $119 million, with 88% representing new customers, a significant increase from $51 million and 21% in 2023 [5] Mortgage Operations - Primis Mortgage generated approximately $2.6 million in pre-tax earnings in 2024, with production reaching approximately $800 million, up from $600 million in 2023 [6] - The company anticipates production of $1.25 billion in 2025, driven by operational improvements and new partnerships [6][9] Digital Banking and Technology - The bank's digital platform has grown to 18,000 customers with nearly $1 billion in deposits since its launch in November 2022 [10] - The proprietary V1BE service supports approximately $200 million in checking accounts and has driven growth in new relationships [4][29] Panacea Financial Growth - Panacea Financial's loans outstanding increased by 11% to $434 million by the end of 2024, with a goal of reaching 10,000 customers by the end of 2025 [11] - The company owns approximately 19% of Panacea Financial Holdings, valued at nearly $20 million at the time of the capital raise [11] Consumer Loan Program Changes - The company decided to cease originating new loans under the Consumer Program effective January 31, 2025, and moved a large portion of the portfolio to loans held for sale [14] - The outstanding balances in the Consumer Program were $173 million as of December 31, 2024, down from $180 million in September 2024 [13][14] Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.10 per share, marking the company's fifty-third consecutive quarterly dividend [33]

Company Overview - Primis Financial Corp. had total assets of $4.0 billion, total loans held for investment of $2.9 billion, and total deposits of $3.3 billion as of September 30, 2024 [2] - The company's banking subsidiary, Primis Bank, offers a variety of financial services to individuals and small- and medium-sized businesses through 24 full-service branches located in Virginia and Maryland, as well as through internet and mobile applications [2] Upcoming Financial Results - Primis Financial Corp. will release its fourth quarter 2024 results after the market closes on January 28, 2025 [1] - Following the results announcement, the company will host a conference call and audio webcast for analysts and investors on January 29, 2025, at 10:00 a.m. Eastern Time [1] - Participants are encouraged to join the call 15 minutes early, with specific toll-free and toll dial-in numbers provided for access [1]

Core Viewpoint - Primis Financial Corp. has announced a stock repurchase program for up to 740,600 shares of its common stock, which will run from December 19, 2024, to December 19, 2025, unless terminated or extended by the Board [1] Group 1: Stock Repurchase Program - The stock repurchase program allows the company to buy back shares through open market purchases or privately negotiated transactions, adhering to legal requirements [2] - The timing and extent of repurchases will depend on various factors, including stock performance, market conditions, regulatory requirements, and availability of funds [2] - The company is not obligated to repurchase any specific number of shares under this program [2] Group 2: Compliance and Financial Status - Primis Financial Corp. has received a Compliance Decision from the Nasdaq Hearings Panel, confirming its compliance with Listing Rule 5250(c)(1) as of December 11, 2024 [3] - As of September 30, 2024, the company reported total assets of $4.0 billion, total loans of $2.9 billion, and total deposits of $3.3 billion [4] - Primis Bank operates 24 full-service branches in Virginia and Maryland, offering financial services to individuals and small- to medium-sized businesses [4]

Financial Performance - Net income attributable to Primis' common stockholders decreased to $2,466 thousand for Q1 2024, down from $8,363 thousand in Q1 2023, a decline of 70.5%[7] - As of March 31, 2024, net income was $812,000, a significant decrease from $8,363,000 in the same period of 2023, representing a decline of approximately 90.3%[10] - The company reported a comprehensive income of $628 thousand for Q1 2024, down from $10,738 thousand in Q1 2023, a decline of 94.1%[7] - Basic earnings per share (EPS) for the three months ended March 31, 2024, was $0.10, a decrease from $0.34 in the same period of 2023[109] - Net income for Q1 2024 was $2.5 million, a 71% decrease from $8.4 million in Q1 2023, primarily due to a $9.4 million drop in derivative gains[125] Asset and Liability Management - Total assets increased to $3,889,979 thousand as of March 31, 2024, compared to $3,856,546 thousand on December 31, 2023, reflecting a growth of 0.86%[5] - Total liabilities rose to $3,495,380 thousand as of March 31, 2024, compared to $3,458,953 thousand on December 31, 2023, an increase of 1.06%[5] - Stockholders' equity decreased to $394,599 thousand from $397,593 thousand, a decline of 0.75%[5] - The company reported a decrease in total equity to $394,599,000 as of March 31, 2024, down from $397,593,000 on December 31, 2023, a decline of 0.7%[137] Loan Portfolio - Total loans held for investment increased to $3.227 billion as of March 31, 2024, compared to $3.219 billion as of December 31, 2023[37] - The company reported $205.1 million in loans outstanding in the Consumer Program as of March 31, 2024, representing 6% of the total gross loan portfolio[38] - The company’s total real estate loans decreased to $1.976 billion as of March 31, 2024, from $1.998 billion as of December 31, 2023[37] - The total loans not past due as of March 31, 2024, were $3.185 billion, indicating a stable loan portfolio[42] - The total amount of loans under "Special Mention" was reported at $1,282, unchanged from the previous year, indicating stability in this category[58] Credit Quality and Allowance for Credit Losses - The allowance for credit losses increased to $53,456 thousand as of March 31, 2024, compared to $52,209 thousand on December 31, 2023, indicating a rise of 2.38%[5] - The provision for credit losses increased to $6,508,000 in Q1 2024, compared to $5,263,000 in Q1 2023, representing a rise of 23.6%[10] - Nonperforming assets increased to $11,853,000 as of March 31, 2024, compared to $10,809,000 on December 31, 2023, indicating a rise in asset quality concerns[144] - The company performed quantitative and qualitative analyses to determine that none of the investment securities required an allowance for credit losses[34] Income and Expense Analysis - Total interest and dividend income increased to $50,345 thousand, up from $44,258 thousand, representing a growth of 13.5% year-over-year[7] - Noninterest income decreased significantly to $10,307 thousand in Q1 2024 from $17,670 thousand in Q1 2023, a drop of 41.6%[7] - Noninterest expense for Q1 2024 was $27.5 million, an increase of $0.6 million compared to Q1 2023[124] - The net interest margin improved to 2.84% for the three months ended March 31, 2024, compared to 2.81% for the same period in 2023[129] Capital and Regulatory Ratios - The leverage ratio for Primis Bank was 9.91% as of March 31, 2024, exceeding the required minimum of 5.00%[164] - Common equity tier 1 capital ratio for Primis Bank was 11.09% as of March 31, 2024, above the required minimum of 6.50%[164] - Total risk-based capital ratio for Primis Bank was 12.35% as of March 31, 2024, surpassing the required minimum of 10.00%[164] - Primis Bank maintained a capital conservation buffer of 4.35% as of March 31, 2024, exceeding the 2.50% minimum requirement[165] Investment Securities - The amortized cost of available-for-sale investment securities was $260.4 million with a fair value of $230.6 million as of March 31, 2024, reflecting gross unrealized losses of $29.9 million[27] - The company purchased available-for-sale investment securities totaling $8.8 million during the three months ended March 31, 2024, with no purchases in the same period of 2023[30] - The fair value of available-for-sale securities as of March 31, 2024, was $214.216 million, down from $203.880 million as of December 31, 2023[35] Operational Highlights - Primis Bank operated 24 full-service branches in Virginia and Maryland as of March 31, 2024, continuing to expand its physical presence[12] - The company completed a $24.5 million Series B financing round for Panacea Financial Holdings, acquiring approximately 19% of its common stock[16] - The company is focused on implementing various strategic initiatives, including new digital banking platforms and cost-saving projects to reduce administrative expenses[114]

MCLEAN, Va., Oct. 24, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company") today announced it received a notice from Nasdaq indicating that the temporary stay of delisting of the Company's common stock has been extended pending a hearing before the Nasdaq Hearings Panel (the "Panel") on December 3, 2024, and the issuance of a final Panel decision.Previously, the Company disclosed that, on October 3, 2024, it received a notice (the "Delisting Notice") from Nasdaq indicating ...

Financial Performance - Net income available to common shareholders for Q3 2024 was $1.2 million or $0.05 per diluted share, compared to a net loss of $6.0 million or $0.24 per diluted share in Q3 2023[1] - Year-to-date earnings for 2024 were $7.5 million or $0.30 per diluted share, compared to $0.3 million or $0.01 per diluted share in the same period in 2023[1] - Net income attributable to Primis' common shareholders for Q3 2024 was $1.2 million, compared to a loss of $6.0 million in Q3 2023[45] - Adjusted net income for Q3 2024 was $2.0 million, up from $5.3 million in Q3 2023[45] - Pre-tax pre-provision operating earnings for Q3 2024 were $9.5 million, compared to $8.2 million in Q3 2023[45] - Operating return on average assets for Q3 2024 was 0.20%, up from 0.54% in Q3 2023[45] - Operating return on average common equity for Q3 2024 was 2.11%, compared to 5.35% in Q3 2023[45] - Operating efficiency ratio improved to 80.35% in Q3 2024 from 75.17% in Q3 2023[45] - Basic operating earnings per common share were $0.08 in Q3 2024, down from $0.21 in Q3 2023[45] - Return on average assets improved to 0.12% in 3Q 2024, compared to (0.85)% in 4Q 2023 and (0.62)% in 3Q 2023[29] - Operating return on average common equity rose to 2.11% in 3Q 2024, up from (7.91)% in 4Q 2023 and 5.35% in 3Q 2023[29] Interest Income and Margin - Net interest income increased by $3.2 million or 13% to $28.0 million in Q3 2024 compared to Q2 2024, with a net interest margin of 2.97%[7] - Interest income increased by 9.4% to $57.1 million in Q3 2024 compared to $52.2 million in Q2 2024[8] - Net interest margin increased to 2.97% in 3Q 2024, compared to 2.72% in 2Q 2024 and 2.70% in 3Q 2023[29] - Net interest income rose to $28,023 thousand in 3Q 2024, up from $24,853 thousand in 2Q 2024[35] - Interest and dividend income grew to $57,112 thousand in 3Q 2024, up from $52,199 thousand in 2Q 2024[35] - Net interest income after provision for credit losses was $20,512 thousand in 3Q 2024, down from $21,734 thousand in 2Q 2024[35] - Net interest margin for loans held for sale was 6.44% in 3Q 2024, down from 7.25% in 2Q 2024 but up from 6.90% in 4Q 2023[43] - Net Interest Margin improved to 2.97% from 2.61%[44] - Net Interest Spread widened to 2.37% from 2.13%[44] Loans and Deposits - Loans held for investment decreased to $2.97 billion at September 30, 2024, compared to $3.30 billion at June 30, 2024, with the Panacea and Life Premium Finance divisions showing loan growth of 4.4% and 11.1%, respectively[13] - Total deposits slightly decreased to $3.31 billion in Q3 2024 from $3.34 billion in Q2 2024, with noninterest-bearing deposits at $421 million[17] - Panacea Financial Division grew outstanding loans to $392 million in Q3 2024, up $16.5 million from Q2 2024, with deposits at $90 million and a weighted average cost of 2.00%[19] - Gross loans to deposits ratio decreased to 89.68% in 3Q 2024, down from 98.95% in 2Q 2024 and 96.37% in 3Q 2023[29] - Net loans decreased to $2,913,988 thousand in 3Q 2024 from $3,248,988 thousand in 2Q 2024[33] - Total deposits slightly decreased to $3,306,431 thousand in 3Q 2024 from $3,335,463 thousand in 2Q 2024[34] - Loans held for sale increased significantly to $467.3 million in 3Q 2024, up from $94.6 million in 2Q 2024[38] - Total real estate loans remained stable at $2.02 billion in 3Q 2024, compared to $2.03 billion in 2Q 2024[38] - Commercial loans decreased to $526.8 million in 3Q 2024 from $619.4 million in 2Q 2024[38] - Loans increased to 6.31% from 5.32%[44] - NOW accounts increased to 2.46% from 1.88%[44] - Savings accounts grew to 4.10% from 3.78%[44] - CDs decreased to 4.09% from 3.01%[44] Noninterest Income and Expense - Noninterest income decreased to $9.3 million in Q3 2024 compared to $11.2 million in Q2 2024, with a $1.2 million reduction in income related to the Consumer Program[10] - Noninterest expense was $31.0 million in Q3 2024, with a core expense burden of $19.8 million, in line with the average for the last five quarters[11][12] - Mortgage banking income increased to $6.8 million in the latest quarter, up from $5.6 million in the previous quarter[36] - Noninterest income decreased to $9.3 million from $10.3 million in the prior quarter[36] Credit Quality and Provisions - Net charge-offs increased to $8.0 million in Q3 2024, up from $5.0 million in Q2 2024, with Consumer Program net charge-offs at $6.7 million and Core net charge-offs at $1.3 million (0.15% of average loans)[16] - Provision for credit losses increased to $7,511 thousand in 3Q 2024 from $3,119 thousand in 2Q 2024[35] - Allowance for credit losses ending balance was $(51.1) million in 3Q 2024, slightly improved from $(51.6) million in 2Q 2024[39] - Provision for credit losses was $(7.5) million in 3Q 2024, compared to $(3.1) million in 2Q 2024[39] - Reserve for unfunded commitments decreased to $(1.1) million in 3Q 2024 from $(1.0) million in 2Q 2024[40] - Non-performing assets increased to $16,138 in 3Q 2024, up from $13,186 in 2Q 2024 and $10,809 in 4Q 2023[41] - Net charge-offs as a percent of average loans (annualized) increased to 0.93% in 3Q 2024, up from 0.60% in 2Q 2024 and 0.53% in 4Q 2023[30] - SBA guaranteed portion of non-performing loans rose to $5,954 in 3Q 2024, up from $3,268 in 2Q 2024 and $3,115 in 4Q 2023[41] - Accruing loans delinquent 90 days or more decreased to 1,714 in 3Q 2024, down from 1,897 in 2Q 2024 and 1,714 in 4Q 2023[41] Capital and Equity - Book value per common share increased to $15.43 in Q3 2024, up $0.20 from Q2 2024, with tangible book value per share at $11.61[21] - Common shareholders' equity stood at $381 million (9.48% of total assets) in Q3 2024, with tangible common equity at $287 million (7.30% of tangible assets)[21] - After-tax unrealized losses on available-for-sale securities decreased by $6.0 million to $17.1 million in Q3 2024 due to lower market interest rates[21] - Total risk-based capital ratio increased to 12.66% in 3Q 2024, up from 12.45% in 2Q 2024 and 12.61% in 1Q 2024[29] - Common equity to assets ratio slightly decreased to 9.48% in 3Q 2024, compared to 9.49% in 2Q 2024 and 9.84% in 4Q 2023[30] - Tangible common equity to tangible assets ratio improved to 7.30% in 3Q 2024, up from 7.27% in 2Q 2024 and 7.53% in 4Q 2023[30] - Leverage ratio decreased to 8.06% in 3Q 2024, down from 8.25% in 2Q 2024 and 8.60% in 4Q 2023[30] - Tangible book value per common share increased to $11.61 in Q3 2024 from $11.42 in Q3 2023[45] - Total Primis common stockholders' equity grew to $381.4 million in Q3 2024 from $377.6 million in Q3 2023[45] - Tangible common equity increased to $286.9 million in Q3 2024 from $281.6 million in Q3 2023[45] - Common equity to assets ratio ranges from 9.48% to 9.84%[46] - Effect of goodwill and other intangible assets ranges from (2.18)% to (2.31)%[46] - Tangible common equity to tangible assets ratio ranges from 7.30% to 7.53%[46] Asset and Liability Management - As of September 30, 2024, Primis had $4.0 billion in total assets, $2.9 billion in total loans, and $3.3 billion in total deposits[22] - Total assets increased to $4,024,603 thousand in 3Q 2024, up from $3,966,364 thousand in 2Q 2024[33] - Total liabilities increased to $3,627,283 thousand in 3Q 2024 from $3,571,807 thousand in 2Q 2024[34] - Tangible common equity stood at $286,908 thousand in 3Q 2024, up from $281,625 thousand in 2Q 2024[34] - Federal Home Loan Bank advances surged to $165,000 thousand in 3Q 2024 from $80,000 thousand in 2Q 2024[34] - Total earning assets grew to $3,748,303 in 3Q 2024, compared to $3,669,045 in 2Q 2024 and $3,564,935 in 4Q 2023[42] - Total deposits reached $3,321,711 in 3Q 2024, slightly down from $3,324,688 in 2Q 2024 but up from $3,281,979 in 4Q 2023[43] - Loans held for sale increased to $98,110 in 3Q 2024, up from $84,389 in 2Q 2024 and $48,380 in 4Q 2023[42] - Total funding costs increased to $29,089 in 3Q 2024, up from $27,346 in 2Q 2024 and $24,437 in 4Q 2023[43] - Total liabilities and stockholders' equity reached $3,992,275 in 3Q 2024, up from $3,912,245 in 2Q 2024 and $3,827,912 in 4Q 2023[42] - Investments slightly decreased to 2.95% from 2.97%[44] - Total Earning Assets rose to 6.06% from 5.10%[44] - Cost of Interest-Bearing Deposits rose to 3.48% from 2.84%[44] - Total Cost of Funds increased to 3.25% from 2.61%[44] Dividends and Shareholder Returns - Primis Financial Corp. declared a dividend of $0.10 per share, marking its fifty-second consecutive quarterly dividend[21] Business Developments - The sale of the Life Premium Finance Division to EverBank is expected to result in a pre-tax gain of $4.5 million in Q4 2024[3] - EverBank will acquire approximately $370 million of loans from the Life Premium Finance Division, with Primis Bank providing interim servicing until the final closing on January 31, 2025[4] - Primis hired a seasoned mortgage warehouse lending team in early October 2024, with four key individuals joining and an additional four to five support staff expected in the coming months[5] - Primis Mortgage pre-tax income rose to $1.0 million in Q3 2024, with locked loan volumes averaging $56.1 million per month, up from $52.0 million in Q2 2024[20] - V1BE platform users grew by 5% in Q3 2024, reaching over 2,400 users, while digital accounts totaled 17,000 with $911 million in deposits and average balances of $53 thousand[17]

Announces Sale of Life Premium Finance DivisionAnnounces Expansion of Mortgage Warehouse Lending TeamDeclares Quarterly Cash Dividend of $0.10 Per ShareMCLEAN, Va., Oct. 24, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported net income available to common shareholders of $1.2 million or $0.05 per diluted share for the quarter ended September 30, 2024, compared to a net loss available to common shar ...