Primis Financial Forges Fintech Alliance to Power Digital Banking Unit

Primis Financial Corp. (NASDAQ: FRST) has secured a multi-year technology partnership for its physician-focused banking division, Panacea Financial. The company announced an agreement with Australian fintech firm Stakk Ltd. to overhaul and modernize its digital banking infrastructure.

This strategic move highlights Primis's technology-driven approach to growth. Panacea Financial, which operates as a division of Primis Bank, will implement Stakk's embedded finance platform, "Stakk IQ™." The system is designed to streamline core processes, including deposit acceptance and user authentication, through advanced image recognition and document management technology. Services under the new partnership commenced in December 2025, with billing set to begin in January 2026.

Should investors sell immediately? Or is it worth buying Primis Financial?

Panacea Financial, launched in 2020, has been backed by approximately $62 million from Valar Ventures, the venture capital firm founded by Peter Thiel. The unit is central to Primis's business model of generating high-growth non-interest income through specialized, tech-enabled niches. The announcement also serves to clarify the scale of the parent company. Contrary to some market speculation, Primis Financial is an agile regional player with total assets of around $3.9 billion as of June 30, 2025.

Market Performance and Implementation Timeline

Shares of Primis Financial had found stability following solid quarterly results released in late October, during which the company reported earnings per share that exceeded analyst estimates. Moving forward, market observers will closely monitor the effective rollout of the Stakk partnership in the first quarter of 2026. This implementation phase is viewed as a key indicator of the company's ability to translate its "fintech-forward" strategy into scalable operational results and tangible efficiency gains.