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Primis Financial Corp
1676 INTERNATIONAL DRIVE SUITE 900
Phone: (703) 893-7400p:703 893-7400 MCLEAN, VA  22102  United States Ticker: FRSTFRST
On February 26, 2024, the Audit Committee of the Board of Directors of Primis Financial Corp. and the company’s management team concluded, following discussions with the company’s independent registered public accounting firm, FORVIS, LLP, that the company’s previously-issued unaudited interim consolidated financial statements as of and for the three months ended March 31, 2023, the three and six months ended June 30, 2023, and the three and nine months ended September 30, 2023 should no longer be relied upon. The accounting matters underlying the company’s conclusion relate to transfers of loans by the Company’s subsidiary, Primis Bank, of approximately $33.7 million to other financial institutions over the first, second, and third quarters of 2023. As part of the company’s year-end reporting process in the first quarter of 2024, the company determined that the transfer of the Transferred Loans from Primis Bank to other financial institutions did not qualify for sales treatment under U.S. GAAP and should have been accounted for as secured borrowings.
Business Summary
Primis Financial Corp. is a bank holding company for Primis Bank (the Bank). The Bank is a state-chartered bank. The Bank provides a range of financial services to individuals and small and medium-sized businesses through approximately 32 full-service branches in Virginia and Maryland. The Company operates through two segments: Primis Mortgage and Primis Bank. 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 Company earns non-interest income and the origination and sale of mortgage loans through the Primis Mortgage segment. The Company offers a range of deposit products, including checking, savings, and money market accounts and certificates of deposit, and others.
(Source: PROSPECTUS)

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
Yes--Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
12/31/202312/31/2022YesYes---

Industries
SIC Code Description
6022 State commercial banks
6029 Commercial banks, not elsewhere classified
6712 Offices of bank holding companies

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Independent Chairman of the Board of the Company and the Bank W. RandCook 69 3/31/2020 6/23/2017
President, Chief Executive Officer, Director of the Company and the Bank Dennis J.Zember 53 2/19/2020 2/19/2020
Chief Financial Officer, Executive Vice President of the Company and the Bank Matthew A.Switzer 45 1/11/2021 1/11/2021
7 additional Officers and Directors records available in full report.

Subsidiaries
Business Name Address City State/Province Country
Prince Georges Federal Savings Bank 14804 Pratt Street Upper Marlboro MD United States
Eastern Virginia Bankshares, Inc. 10900 Nuckols Rd Ste 325 GLEN ALLEN VA United States
Sonabank NA 6830 Old Dominion Drive McLean VA United States
Virginia Co Bank 11801 MERCHANTS WALK NEWPORT NEWS VA United States
EVB 307 Church Lane Tappahannock VA United States

Business Names
Business Name
Eastern Virginia Bankshares, Inc.
Eastern Virginia Statutory Trust I
EVB
6 additional Business Names available in full report.

General Information
Number of Employees: 565 (As of 12/31/2022)
Outstanding Shares: 24,693,172 (As of 12/31/2023)
Shareholders: 1,212
Stock Exchange: NASD
Federal Tax Id: 201417448
Fax Number: (434) 973-5717


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Tuesday, April 23, 2024