secwatch.observer — SEC 8-K summary
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Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K/A
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001104659-25-041314
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Primis restates Q4 2024 net loss to $23.3M; amends for reserve and fraud adjustments
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- Net loss of $0.94 per diluted share for Q4 2024 vs $0.33 loss a year ago; full-year loss $0.66 vs $0.32.
- Amended to increase reserves for one credit and fraud losses; reclassified $133M in consumer loans to held for sale.
- Consumer program winddown drove $20M additional provision/charge-offs in Q4; program ceased origination Jan 31, 2025.
- Quarterly dividend declared $0.10 per share payable Feb 26, 2025; book value $14.23, tangible book $10.42.
- Core bank deposit cost 1.87%; mortgage warehouse launched with $400M committed lines; Panacea loans $434M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000110465925041314/0001104659-25-041314-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000110465925041314/tm2511093d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-041314

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