secwatch.observer — SEC 8-K summary
======================================

Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K
Filed at:   2023-03-17T23:59:59+00:00
Accession:  0000950170-23-008642
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000095017023008642/0000950170-23-008642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000095017023008642/frst-20230313.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-008642

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer