Primis Financial Corp. Announces 13.2% Boost to Tangible Book Value and 15.0% Growth in Recurring Earnings with Sale-Leaseback Transaction

Primis Financial Corp. has entered into a sale-leaseback transaction covering 18 branch properties, resulting in a pre-tax gain of $50 million. The transaction will also restructure the balance sheet, improve operating earnings, and build capital levels. The deal is expected to increase tangible book value by 13.2% and recurring earnings by 15.0%.