SCHEDULE: Patriot Financial Group Takes 5.35% Stake in Primis Financial

Patriot Financial Group, a private equity fund, has disclosed a 5.35% beneficial ownership stake in PRIMIS FINANCIAL CORP. for investment purposes.

Summary

• Patriot Financial Group, comprising Patriot Financial Partners III, L.P., Patriot Financial Partners GP III, L.P., Patriot Financial Partners GP III, LLC, and individuals W. Kirk Wycoff, James J. Lynch, and James F. Deutsch, has acquired beneficial ownership of 1,317,531 shares of PRIMIS FINANCIAL CORP. Common Stock.
• This stake represents 5.35% of the Issuer's outstanding Common Stock, calculated based on 24,643,185 shares as of June 30, 2025, as reported in the Issuer's Form 10-Q filed on August 11, 2025.
• The shares were acquired for investment purposes, funded by the working capital of Patriot Fund III.
• Recent acquisitions by Patriot Fund III include 1,474 shares on August 7, 2025, 2,848 shares on August 8, 2025, and 95,678 shares on August 12, 2025.

Sentiment

Score: 7

Explanation: The filing indicates a significant investment by a specialized financial sector private equity fund, which is generally a positive signal of confidence in the company. There are no negative disclosures, only standard investment flexibility statements.

Positives

• A significant institutional investor, Patriot Financial Group, has taken a substantial 5.35% stake, indicating confidence in PRIMIS FINANCIAL CORP.
• Patriot Financial Group specializes in community banks and financial services, suggesting a strategic investment aligned with their expertise and potentially offering future strategic value.

Risks

• The Patriot Financial Group may dispose of the acquired shares from time to time, subject to market conditions and other investment considerations, which could impact the share price.
• Future acquisitions of additional shares are subject to applicable bank regulatory limitations and prevailing market conditions, which could restrict further accumulation.

Future Outlook

Patriot Financial Group acquired the shares for investment purposes and retains the flexibility to acquire additional shares of Common Stock or associated rights/securities, or to dispose of existing shares in the future. Such actions will be subject to ongoing evaluation of the investment, applicable legal restrictions, prevailing market conditions, liquidity requirements, and other investment considerations.

Industry Context

Patriot Financial Group is a private equity fund with a stated focus on investing in community banks and financial service-related companies throughout the United States. This investment in PRIMIS FINANCIAL CORP., a financial institution, aligns directly with their established investment strategy and industry specialization.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor taking a substantial stake could be viewed positively, potentially increasing investor confidence and demand for the stock.

Next Steps

• Patriot Financial Group may dispose of the acquired shares from time to time, subject to market conditions and other investment considerations.
• Patriot Financial Group may directly or indirectly acquire additional shares of Common Stock or associated rights or securities exercisable for or convertible into Common Stock.

Key Dates

Recommendation

The filing indicates a new significant institutional investment in PRIMIS FINANCIAL CORP. by Patriot Financial Group, a specialist in the financial sector. While this signals confidence and could be a positive catalyst, the filing itself does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. It primarily discloses an ownership stake for investment purposes, with the flexibility to acquire more or dispose of shares. Investors should hold and monitor future actions by Patriot Financial Group and the company's performance.

Keywords

PRIMIS FINANCIAL CORP., Patriot Financial Group, Schedule 13D, Beneficial Ownership, Financial Services, Community Bank, Investment, Equity Stake, Institutional Investor