---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-088407"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2024-08-12T23:59:59+00:00"
generated_at: "2026-05-31T09:58:51.810833+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Primis Financial says SEC OK'd corrected accounting; expects ~$30M net income reduction, filings by end of August

## Summary
- SEC non-objection on Aug 9 to multi-unit accounting for consumer loan program; company to restate 2023 and 2024 interim results.
- Preliminary cumulative net income reduction of ~$30 million over prior periods through Q2 2024, primarily timing differences.
- At June 30, 2024, 42% of portfolio in promotional period with ~$15M deferred interest; 72% of promotions expire in next three quarters.
- Company continues SEC consultation for single-unit accounting; no assurance of success.
- Anticipates first delayed filings (Form 10-K/Q) around end of August 2024.

## SEC filing metadata
- accession: 0001104659-24-088407
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2024-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000110465924088407/0001104659-24-088407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000110465924088407/tm2421467d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-088407
- JSON: https://secwatch.observer/filing/0001104659-24-088407.json
- Plain text: https://secwatch.observer/filing/0001104659-24-088407.txt

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