SCHEDULE: Patriot Financial Group Discloses 4.94% Stake in PRIMIS

Patriot Financial Partners III, L.P. and its affiliates have filed an amended Schedule 13D, reporting a 4.94% beneficial ownership in PRIMIS FINANCIAL CORP. for investment purposes.

Summary

• Patriot Financial Partners III, L.P. and its affiliates (the "Patriot Financial Group") beneficially own 1,217,531 shares of PRIMIS FINANCIAL CORP. Common Stock.
• This represents 4.94% of the Issuer's outstanding Common Stock, calculated based on 24,643,185 shares as of June 30, 2025.
• The shares were acquired for investment purposes using working capital.
• The Patriot Financial Group may dispose of or acquire additional shares in the future, subject to market conditions and regulatory limitations.
• Recent transactions include purchases of 1,474 shares on August 7, 2025, 2,848 shares on August 8, 2025, and 95,678 shares on August 12, 2025.
• Recent sales include 50,000 shares on September 22, 2025, and 50,000 shares on September 23, 2025.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. The continued significant stake by a specialized financial investor like Patriot Financial Group suggests underlying value. However, recent minor sales introduce a slight cautionary note, preventing a higher score.

Positives

• A significant institutional investor, Patriot Financial Group, maintains a substantial stake in PRIMIS FINANCIAL CORP., indicating continued investment interest.
• The investment is for "investment purposes," suggesting a belief in the long-term value of the company.

Negatives

• Patriot Financial Group recently sold 100,000 shares (50,000 on September 22, 2025, and 50,000 on September 23, 2025), which could be interpreted as a slight reduction in conviction or portfolio rebalancing.

Risks

• Future dispositions of shares by the Patriot Financial Group could put downward pressure on the stock price.
• Investment decisions are subject to market conditions and other investment considerations, which can be unpredictable.
• Applicable bank regulatory limitations may restrict the Patriot Financial Group's ability to acquire additional shares.

Future Outlook

The Patriot Financial Group may dispose of its acquired shares from time to time, subject to market conditions and other investment considerations. It may also acquire additional shares or associated rights/securities, depending on an ongoing evaluation of its investment, legal restrictions, prevailing market conditions, and liquidity requirements.

Industry Context

Patriot Financial Partners III, L.P. is a private equity fund specializing in investments in community banks and financial service-related companies across the United States. This investment in PRIMIS FINANCIAL CORP. aligns with its stated investment strategy within the financial sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor's stake can influence market perception and potentially provide a level of confidence. Recent sales, though minor, could be noted by other investors.

Next Steps

• Patriot Financial Group may dispose of its shares.
• Patriot Financial Group may acquire additional shares or related securities.
• Patriot Financial Group may distribute shares in kind to its investors.

Key Dates

Recommendation

The filing indicates a significant, but not new, beneficial ownership stake by Patriot Financial Group. While the group's focus on financial services and community banks suggests a strategic investment, the recent minor sales (100,000 shares) against a backdrop of recent purchases (approx. 100,000 shares) suggest a period of rebalancing rather than a strong directional signal. Without further information on the company's operational performance or strategic initiatives, the current disclosure primarily confirms an existing institutional position. Therefore, a 'hold' recommendation is appropriate, advising investors to maintain their current positions while awaiting more comprehensive financial or strategic updates from PRIMIS FINANCIAL CORP. itself.

Keywords

PRIMIS FINANCIAL CORP., Patriot Financial Partners, Schedule 13D, Beneficial Ownership, Financial Services, Community Banks, Investment Management, Equity Stake