secwatch.observer — SEC 8-K summary
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Issuer:     Primis Financial Corp. (FRST)
CIK:        0001325670
Form:       8-K/A
Filed at:   2025-08-11T23:59:59+00:00
Accession:  0001104659-25-076231
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Primis Financial restates Q2 net income to $2.4M on loan downgrades; EPS $0.10
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- Downgraded three performing loans: $6.4M to special mention, $30.7M office to substandard accruing, $40.1M office to substandard nonaccrual with $7.7M specific reserve.
- Net income for Q2 2025 corrected to $2.4M ($0.10 diluted EPS), down $6.0M from original due to credit adjustments.
- Declared quarterly dividend of $0.10 per share, payable Aug 22 to holders of record Aug 8.
- Primis Mortgage closed $323M in loans (+52% YoY); mortgage warehouse outstandings up 60% QoQ to $185M.
- Panacea loans grew 34% YoY to $505M; total deposits flat YoY with no wholesale funding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325670/000110465925076231/0001104659-25-076231-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325670/000110465925076231/tm2523167d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-076231

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