---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-008642"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2023-03-17T23:59:59+00:00"
generated_at: "2026-06-17T23:30:26.968179+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Primis deposits surge $908M, loan-to-deposit ratio drops to 83%; mobile bank adds 10,600 accounts

## Summary
- Core deposits grew ~$908M through March 9, 2023; bank now 97% core customer funded.
- Loan-to-deposit ratio fell to 83% from 108% at Dec 31, 2022; cash balance $600M.
- Retired $325M of maturing FHLB borrowings; has $855M additional borrowing capacity.
- Mobile banking platform opened 10,600 new accounts since Q4 2022 with $921M in deposits.
- No exposure to crypto or venture capital; average account balance $44,000.

## SEC filing metadata
- accession: 0000950170-23-008642
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2023-03-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000095017023008642/0000950170-23-008642-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000095017023008642/frst-20230313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-008642
- JSON: https://secwatch.observer/filing/0000950170-23-008642.json
- Plain text: https://secwatch.observer/filing/0000950170-23-008642.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.