secwatch.observer — SEC 8-K summary
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Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001104659-24-006845
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Primis Financial Q4 EPS $0.33 vs $0.12 YoY; declares $0.10 dividend; invests in Panacea Financial
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- Net income $8.1M ($0.33 diluted) for Q4 2023, up from $3.0M ($0.12) in Q4 2022.
- Net interest margin improved to 3.36% (3.09% excl. accretion) from 3.01% in Q3 2023; core expense burden fell to $18.7M.
- Primis acquired ~19% of Panacea Financial Holdings (implied value ~$20M) for immaterial price; PFH completed $24.5M Series B.
- Quarterly dividend $0.10 declared, payable Feb 23, 2024 to shareholders of record Feb 9, 2024.
- Nonperforming assets (ex SBA) dropped 61% to $7.7M; tangible common equity ratio 7.99%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000110465924006845/0001104659-24-006845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000110465924006845/tm244186d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-006845

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