Primis Bank's Fintech division Panacea and 2Q Earnings

ikbok
  |     |   62 posts since 2023

According to primis bank news page https://investors.primisbank.com/investors/news/default.aspx primis will announce their 2q earnings on july 24

But I didn't know, primis is also apparently involved with a fintech called "panacea financial." Their news page says: "Primis Financial Corp. Announces Signed Term Sheet to Sell a Portion of its Shares of Panacea Financial Holdings, Inc" https://investors.primisbank.com/investors/news/news-details/2025/Primis-Financial-Corp--Announces-S...

Googling, I see panacea financial is a fintech founded by two guys, one of them a doctor apparently ect, and primis makes it sound like they're just a partner and are selling some of their shares to get cash. Maybe they are just a partner, but on panacea's page it says panacea financial is a division of primis bank. https://panaceafinancial.com/all/checking-savings-accounts/ "Banking services are provided by Panacea Financial, a division of Primis Bank"

They must really need cash. As soon as I wrote this I got an email from pirims saying their rate is lowering 0.15 points for savings and checking, if you have been with them a long time you get slightly higher rate but still lowering from 4.40 to 4.25 for old customer, 4.35 to 4.20 for new customer, and checking new customer from 4.20 to 4.05 ect.



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