---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-035182"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:56:03.664040+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Primis reports Q2 net loss of $0.2M; initiates $9.4M annual cost savings

## Summary
- Basic and diluted EPS loss of $0.01 vs. earnings of $0.24 in Q1 2023 and $0.20 in Q2 2022.
- Cost savings initiative: consolidate 8 branches, reduce staff, expected annual savings of $9.4M.
- Discovered employee loan fraud with ~$2.5M exposure; recoverable under insurance, not yet recorded.
- Declared $0.10/share dividend payable Aug 25, record Aug 11 (47th consecutive quarterly dividend).
- Pro forma non-performing assets fell to 0.13% of total assets after planned sales.

## SEC filing metadata
- accession: 0000950170-23-035182
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000095017023035182/0000950170-23-035182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000095017023035182/frst-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-035182
- JSON: https://secwatch.observer/filing/0000950170-23-035182.json
- Plain text: https://secwatch.observer/filing/0000950170-23-035182.txt

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