---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-099369"
form_type: "8-K"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2024-09-12T23:59:59+00:00"
generated_at: "2026-05-31T05:10:37.373737+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Primis Financial restates 2022 financials; cites material weakness in internal controls

## Summary
- 2022 audited financial statements and audit report no longer reliable due to errors in accounting for third-party serviced consumer loans.
- Errors involve promotional interest income deferral, credit enhancement income reversal, and derivative accounting under ASC 815.
- Material weakness in internal control over financial reporting identified as of Dec 31, 2022; management's report withdrawn.
- Company will file amended 2022 10-K; 2023 10-K to reflect restatements; timeline not materially impacted.
- Auditor Forvis Mazars agrees with the non-reliance disclosures per Exhibit 7.1 letter.

## SEC filing metadata
- accession: 0001104659-24-099369
- form_type: 8-K
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2024-09-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000110465924099369/0001104659-24-099369-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000110465924099369/tm2423918d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-099369
- JSON: https://secwatch.observer/filing/0001104659-24-099369.json
- Plain text: https://secwatch.observer/filing/0001104659-24-099369.txt

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