Forvis Mazars declines re-appointment as Primis Financial auditor; material weaknesses cited

Primis Financial Corp.

Forvis will not stand for re-appointment for FY2024; decision dated Sept 17, 2024, ratified by Audit Committee.
Material weaknesses identified in internal controls over complex loan agreements, loan transfers, and credit loss evaluation.
Weaknesses involve third-party consumer loan portfolio accounting; management is implementing remediation controls.
Forvis to complete FY2023 audit and restatements of prior interim periods; no disagreements on accounting principles.
Reportable events are limited to material weaknesses previously disclosed in March and September 2024 8-K filings.

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