Primis Financial Corp. Announces Reauthorization of Stock Repurchase Program and Compliance with Nasdaq Listing Rules

Core Viewpoint - Primis Financial Corp. has announced a stock repurchase program for up to 740,600 shares of its common stock, which will run from December 19, 2024, to December 19, 2025, unless terminated or extended by the Board [1] Group 1: Stock Repurchase Program - The stock repurchase program allows the company to buy back shares through open market purchases or privately negotiated transactions, adhering to legal requirements [2] - The timing and extent of repurchases will depend on various factors, including stock performance, market conditions, regulatory requirements, and availability of funds [2] - The company is not obligated to repurchase any specific number of shares under this program [2] Group 2: Compliance and Financial Status - Primis Financial Corp. has received a Compliance Decision from the Nasdaq Hearings Panel, confirming its compliance with Listing Rule 5250(c)(1) as of December 11, 2024 [3] - As of September 30, 2024, the company reported total assets of $4.0 billion, total loans of$2.9 billion, and total deposits of $3.3 billion [4] - Primis Bank operates 24 full-service branches in Virginia and Maryland, offering financial services to individuals and small- to medium-sized businesses [4]