secwatch.observer — SEC 8-K summary
======================================

Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K
Filed at:   2024-09-23T23:59:59+00:00
Accession:  0001104659-24-102085
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000110465924102085/0001104659-24-102085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000110465924102085/tm2424551d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-102085

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer