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Midas Edge

Primis Financial Corp.

For the period ended Mar 31, 2026. Filed May 8, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 8, 2026

FRST$14.68+1.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

TABLE OF CONTENTS​ ​ ​PAGE
​PART I - FINANCIAL INFORMATION​​
​​​
Item 1 - Financial Statements​4
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Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025​4
​Condensed Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2026 and 2025​5
​Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and 2025​6
​Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025​7
​Notes to Unaudited Condensed Consolidated Financial Statements​8
​​​
Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations​39
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Item 3 – Quantitative and Qualitative Disclosures about Market Risk​58
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Item 4 – Controls and Procedures​60
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PART II - OTHER INFORMATION​​
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Item 1 – Legal Proceedings​60
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Item 1A – Risk Factors​60
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Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds​61
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Item 3 – Defaults Upon Senior Securities​61
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Item 4 – Mine Safety Disclosures​61
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Item 5 – Other Information​61
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Item 6 - Exhibits​62
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Signatures​64
​​​

GLOSSARY OF ACRONYMS AND DEFINED TERMS

In this Quarterly Report on Form 10-Q, except as otherwise indicated or the context suggests otherwise, references to the “Company” refers to Primis Financial Corp., and the terms “Primis”, “we”, “us” and “our” refer to the Company and its subsidiaries, including Primis Bank, which we refer to as “Primis Bank” or the “Bank.”

“PMC” refers to Primis Mortgage Company, a residential mortgage lender headquartered in Wilmington, North Carolina, a consolidated subsidiary of Primis Bank.

“PFH” refers to Panacea Financial Holdings, Inc., headquartered in Little Rock, Arkansas, which owns the rights to the Panacea Financial brand and its intellectual property and partners with the Bank to offer a suite of financial products and services for doctors, their practices, and the broader healthcare industry.

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ACLAllowance for credit losses
AFSAvailable-for-sale
ALCOAsset-Liability Committee
ASCAccounting Standards Codification
ASUAccounting Standards Update
Basel IIIBasel Committee's 2010 Regulatory Capital Framework
CECLCurrent expected credit losses
CEOChief Executive Officer
CFOChief Financial Officer
DEIDiversity, equity and inclusion
Dodd-Frank ActDodd-Frank Wall Street Reform and Consumer Protection Act
EPSEarnings per share
ESGEnvironmental, social and governance
EVEEconomic value of equity
FASBFinancial Accounting Standards Board
FDICFederal Deposit Insurance Corporation
FHLBFederal Home Loan Bank of Atlanta
FRBFederal Reserve Bank
FOMCFederal Open Market Committee
FVOFair value option
GAAPU.S. generally accepted accounting principles
HTMHeld-to-maturity
IRLCInterest rate lock commitments
LHFILoans held for investment
LHFSLoans held for sale
MD&AManagement’s Discussion and Analysis of Financial Condition and Results of Operations
NIINet interest income
NASDAQNational Association of Securities Dealers Automated Quotations
OREOOther real estate owned
PCAPrompt corrective action
PCDPurchased credit deteriorated
PPPPaycheck Protection Program
PRNPro re nata
SECSecurities and Exchange Commission
SOFRSecured Overnight Financing Rate
VIEVariable interest entity
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.