Primis Financial Corp.

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Investigation Details

Primis issued a press release on January 28, 2025, reporting certain financial results for the fourth quarter of 2024. Among other items, Primis “reported a net loss available to common shareholders of $14.7 million or $0.59 loss per basic and diluted share for the quarter ended December 31, 2024, compared to a net loss available to common shareholders of $8.2 million or $0.33 loss per basic and diluted share for the quarter ended December 31, 2023.” Primis said that its “[e]arnings . . . [were] highly affected by the Company’s decision to move a third-party originated consumer loan portfolio to held for sale in the fourth quarter of 2024”.

Following this news, Primis’s stock price fell over 8% on January 29, 2025.