Declares Quarterly Cash Dividend of $0.10 Per Share MCLEAN, Va., April 25, 2024 /PRNewswire/ -- Primis Financial Corp. (NASDAQ:FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today reported preliminary results for the first quarter of 2024. As previously discussed in its Form 12b-25/A filed on April 1, 2024, Primis is currently pursuing a "pre-clearance" process with the Office of the Chief Accountant of the Securities and Exchange Commission ("SEC") regarding the accounting for a consumer loan portfolio originated through a third-party. This process with the SEC is ongoing and must be completed in order for the Company to complete its Annual Report on Form 10-K for the year ended December 31, 2023 and to restate its financial statements for each of the first three quarters of 2023 as well as the earnings release and investor presentation furnished with the Current Report on Form 8-K that the Company filed on January 26, 2024. While Primis works diligently to complete the pre-clearance process with the SEC, the Company is providing the preliminary results for the first quarter of 2024 below. These results reflect the same accounting methodology as in prior periods for the consumer portfolio identified above for comparison purposes and to demonstrate underlying trends in the Company's performance. The Company's independent auditor has not reviewed or audited these preliminary estimated financial results. The Company's actual results may differ materially from these preliminary financial results. This preliminary financial data has been prepared by and is the responsibility of the Company. Until the process with the SEC is complete, the results should be considered preliminary and are subject to adjustment based on the results of that process, the restatement, and other developments that may arise between now and the time its audited consolidated financial statements are issued. Preliminary Financial Results (Unaudited) – Q1 2024 versus Q1 2023 (Dollars in thousands except per share) Q1 2024 Q1 2023 Total Assets $3,916,737 $4,218,099 Loans HFI 3,221,428 3,056,674 Allowance for Credit Losses (42,592) (35,803) Total Deposits 3,314,923 3,667,997 Common Stockholders' Equity 399,608 398,145 Book Value per Common Share $16.17 $16.13 Effect of Intangible Assets (3.85) (4.36) Tangible Book Value per Common Share $12.32 $11.77 Net Interest Income $28,327