Company Overview

Primis Financial Corp. (NASDAQ: FRST) is a U.S. bank holding company headquartered in McLean, Virginia, operating primarily through its wholly owned banking subsidiary, Primis Bank. The company provides commercial banking, consumer banking, mortgage banking, treasury management, and digital banking services. Primis primarily serves small and medium-sized businesses, professionals, consumers, and municipal clients across selected markets in the Mid-Atlantic and Southeastern United States. Its revenue is primarily generated through net interest income from lending activities, alongside non-interest income from mortgage banking, service fees, and other financial products.

The company traces its origins to Southern National Bancorp of Virginia, Inc., which rebranded to Primis Financial Corp. in 2021 as part of a broader strategic repositioning focused on technology-enabled banking and operational efficiency. Primis has emphasized a streamlined banking model combining traditional relationship banking with digital capabilities. Public filings and investor communications identify its strategic positioning around efficiency, scalable technology infrastructure, and targeted commercial banking growth in attractive regional markets.

Business Operations

Primis conducts substantially all operations through Primis Bank, which operates retail branches, commercial banking offices, and digital banking channels. Its principal business activities include commercial real estate lending, commercial and industrial lending, residential mortgage lending, consumer banking, and specialty finance activities. The company also operates businesses associated with mortgage origination and banking-as-a-service-related initiatives, although certain fintech-oriented activities have evolved over time based on strategic and regulatory considerations reflected in public disclosures.

The company’s operations are concentrated primarily in the United States, with banking activities centered in Virginia, Maryland, and nearby regional markets. Primis controls core banking assets including branch infrastructure, loan servicing operations, deposit platforms, treasury management systems, and digital banking technology. Public disclosures have also referenced strategic relationships with financial technology providers and specialized lending platforms intended to support deposit growth, operational efficiency, and customer acquisition.

Strategic Position & Investments

Primis has pursued a strategy focused on profitable organic growth, operational simplification, and disciplined credit management. Strategic initiatives disclosed in company filings and earnings materials have included investments in digital banking capabilities, optimization of branch operations, expansion of commercial lending teams, and targeted efforts to improve efficiency ratios. The company has also focused on strengthening core deposits and enhancing recurring fee-based revenue streams.

Historically, Primis expanded through acquisitions and mergers involving community banking institutions in the Mid-Atlantic region. The company has also invested in technology-enabled banking infrastructure intended to support scalable customer onboarding and digital account management. Public information indicates continued emphasis on commercial banking relationships, mortgage operations, and selective innovation initiatives while maintaining regulatory capital and balance-sheet discipline. Data regarding certain emerging technology investments or fintech partnerships is limited or evolving based on available public sources.

Geographic Footprint

Primis Financial Corp. operates primarily within the United States, with its headquarters located in McLean, Virginia and a significant operational presence across Virginia and portions of the broader Mid-Atlantic region. Through Primis Bank, the company maintains banking offices and customer relationships in regional metropolitan and community markets, serving both retail and commercial clients.

The company’s lending and deposit activities are concentrated domestically, though digital banking capabilities allow it to reach customers beyond its branch footprint in certain product categories. Public filings identify strategic emphasis on regional market penetration rather than large-scale international expansion. Data inconclusive based on available public sources regarding material direct international operational influence.

Leadership & Governance

Primis Financial Corp. is governed by a board of directors and executive leadership team overseeing banking operations, risk management, capital allocation, and strategic growth initiatives. The company’s leadership philosophy, as reflected in investor communications and regulatory filings, emphasizes efficiency, customer-centric banking, disciplined underwriting, and technology-enabled operational modernization.

Key executives identified in recent public disclosures include:

• Dennis J. Zember, Jr. – President and Chief Executive Officer
• Jeffrey A. Powell – Executive Vice President and Chief Financial Officer
• L. Steven Stone – Executive Vice President and Chief Banking Officer
• Elizabeth R. Phipps – Executive Vice President and Chief Risk Officer
• Trina D. Waller – Executive Vice President and Chief Operations Officer

Governance and operational oversight are informed through disclosures contained in SEC filings, annual reports, quarterly earnings materials, and investor presentations. Executive roles and responsibilities may change over time based on company announcements and regulatory filings.