Primis Financial Corp. Secures Stay Extension for Nasdaq Listing

Primis Financial Corp. Secures Stay Extension for Nasdaq Listing

Primis Financial Corp. (NASDAQ: FRST) recently made headlines by announcing its reception of a stay extension regarding its delisting determination from Nasdaq. This important move allows the company to maintain its listing status while appealing Nasdaq's previous decision. On a recent hearing request that was submitted, Primis aims to clarify its position and continue its operations without interruption.

Details of the Hearing Request

On April 9, Primis Financial Corp. formally submitted a hearing request to The Nasdaq Stock Market LLC, wherein the company appealed Nasdaq's ruling on the delisting of its shares. Following this, a response was promptly received from the Nasdaq Hearings Advisor on April 10, setting the stage for the hearing to be on May 15. This stay offers the company a critical lifeline, allowing it time to prepare and ensure compliance with Nasdaq’s listing rules while awaiting the panel's final written decision.

Compliance Efforts and Future Plans

In the face of challenges regarding compliance, Primis Financial Corp. has expressed its intention to file the Form 10-K for the year concluding December 31, 2024, as soon as possible, ideally prior to the upcoming hearing. This proactive step signifies the company's commitment to stabilize its financial reporting and adhere to regulatory standards. By doing so, Primis aims to reassure shareholders and maintain investor confidence.

Overview of Primis Financial Corp.

At the close of 2024, Primis Financial Corp. boasted total assets amounting to $3.7 billion and total loans held for investment of $2.9 billion. Alongside, their total deposits reached $3.2 billion, reflecting their strong market presence and operational capabilities. The organization operates twenty-four full-service branches across Virginia and Maryland, expanding its service range through advanced online and mobile platforms designed for both individuals and small-to-medium-sized enterprises.

Company Leadership

Primis Financial Corp. is led by dedicated professionals committed to fostering growth and development within the company. Dennis J. Zember, Jr. serves as the President and CEO, with Matthew A. Switzer as the Executive Vice President and CFO. Their leadership plays a pivotal role in navigating the company through current challenges and ensuring strategic alignment with market trends.

Contact Information

For any inquiries, Dennis J. Zember, Jr. can be contacted directly at Primis Financial Corp. Additionally, contact details are available for the executive team, ensuring transparency and communication among stakeholders. Primis is located at 1676 International Drive, Suite 900, McLean, VA 22102. Feel free to reach out by phone at (703) 893-7400 for further assistance.

Frequently Asked Questions

What is the significance of the stay extension for Primis Financial Corp.?

The stay extension allows Primis Financial Corp. to maintain its Nasdaq listing while it addresses compliance issues. This gives the company time to align its reporting with Nasdaq's requirements.

When is the hearing scheduled for?

The scheduled hearing for Primis Financial Corp. is set for May 15. This hearing will play a crucial role in the company's appeal process.

What are the total assets of Primis Financial Corp.?

As of December 31, 2024, Primis Financial Corp. reported total assets of approximately $3.7 billion, showcasing a solid financial standing.

Who leads Primis Financial Corp.?

Primis Financial Corp. is led by CEO Dennis J. Zember, Jr. and EVP and CFO Matthew A. Switzer. Their leadership is integral for the company's strategy and operations.

How can I contact Primis Financial Corp.?

You can contact Primis Financial Corp. by calling (703) 893-7400, or by visiting their offices located in McLean, VA.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

Contact Addison Perry privately here. Or send an email with ATTN: Addison Perry as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.