(Amends headline, bullet 1 and 2 of Overview section, Key

Details table and press release link after company corrects net

income and EPS figure)

Overview

* Primis Financial ( FRST ) Q2 net income falls to $2.4 mln, down

from $3.4

mln yr/yr

* Company reports Q2 EPS of $0.10, up from $0.14 yr/yr

* Sale of Panacea Financial shares generates additional $7.5

mln

pre-tax gain

Outlook

* Primis expects Q3 expenses to reduce by $0.9 mln

* Company anticipates Q4 and beyond expenses to decrease by

$1.5

mln

* Co close to executing plan to reduce technology costs and

anticipate the savings to begin late in the third quarter of

2025

Result Drivers

* PANACEA SALE - Sale of Panacea Financial shares generated

$7.5

mln pre-tax gain

* PROMOTIONAL LOANS - Reduced promotional loans led to fewer

write-offs and no additional provisions for loan losses

* MORTGAGE VOLUME - Primis Mortgage closed $323 mln in

loans, up

52% yr/yr, with delayed revenue from construction-to-permanent

products

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.10

Q2 Net $2.40

Income mln

Analyst Coverage

* The current average analyst rating on the shares is

"strong buy"

and the breakdown of recommendations is 2 "strong buy" or "buy",

no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer

group is

"buy."

* Wall Street's median 12-month price target for Primis

Financial

Corp ( FRST ) is $12.38, about 2.2% above its July 23 closing price of

$12.10

* The stock recently traded at 10 times the next 12-month

earnings

vs. a P/E of 7 three months ago

Press Release: (Click here)

(This story was created using Reuters automation and AI based

on LSEG and company data. It was checked and edited by a Reuters

journalist prior to publication.)