Primis Financial Corp. has announced the restated financial results following the deconsolidation of Panacea Financial Holdings. The revision reflects a pre-tax gain of approximately $24.6 million and an after-tax gain of approximately $20.0 million, or $0.81 per share. These figures were determined after an independent third-party evaluation of the fair market value of the company's investment in Panacea. The deconsolidation, effective March 31, 2025, also allows Primis to recoup certain consolidated operating losses amounting to $3.4 million. The restated financial results will enhance the company's capital levels and tangible book value, while also simplifying financial statement presentations and improving operational metrics such as the return on assets and operating efficiency ratio. CEO Dennis J. Zember, Jr. noted that the changes reflect a positive step in the company's strategic direction, and Primis Bank will maintain its role as the exclusive banking partner for Panacea's loans and deposits.