Panacea Financial Announces Partnership with Colorado Medical Society (CMS)

Rhea-AI Summary

Panacea Financial, a division of Primis Financial Corp. (NASDAQ: FRST), has partnered with the Colorado Medical Society (CMS) to provide specialized banking services to CMS's 7,500 physician members. This collaboration aims to address the unique financial needs of doctors and dentists through tailored products like personal loans and student loan refinancing. Panacea’s CEO emphasized the commitment to enhance banking experiences for healthcare professionals, while CMS's CEO highlighted the partnership's role in advocating for physicians’ interests in Colorado.

Positive

• Partnership with Colorado Medical Society expands service reach to over 7,500 physicians.
• Tailored financial products designed for the unique needs of medical professionals.
• Support for increased ethnic and racial diversity within the medical field through funding.

Negative

• None.

LITTLE ROCK, Ark., Oct. 15, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis Financial Corp. that provides financial services for physicians and dentists through all stages of their training and practice, has partnered with the Colorado Medical Society (CMS), the premier professional organization for Colorado physicians, with over 7,500 members across all specialties and employment settings, to provide preferred physician-centric banking services to CMS members.

Tyler Stafford, CFA, CEO and Co-Founder of Panacea said, "At our core, Panacea Financial is simply a company that works to make things better for doctors. From concierge banking to doctor-specific lending criteria, Panacea is able to give CMS members a better way to bank. By partnering with the Colorado Medical Society, we are also able to support a strong organization that is constantly advocating for and supporting physicians."

Panacea is a financial services company created for doctors, by doctors on the premise that traditional banks simply do not understand the financial needs of medical and dental professionals. Panacea provides tailored product offerings and service delivery designed specifically for physicians and dentists throughout their career: from school, through training, and into practice. Through the Panacea Financial Foundation, their non-profit arm, they have dedicated funding to expand the ethnic and racial diversity of the medical field. Panacea's products cover the full suite of banking needs for this unique population, including checking and savings accounts, PRN personal loans, student loan refinancing, and practice loans.

Colorado Medical Society CEO Bryan Campbell said, "CMS supports Colorado physicians in their passions for service, advocacy and education. Everything we do aims to make the practice of medicine easier for our members so they can do what they do best – care for patients. Panacea Financial joins us in our mission by bringing valuable financial services solutions to physicians and practice staff."

Panacea President and Co-Founder Michael Jerkins, MD, added, "Our physician community benefits from strong medical societies and the Colorado Medical Society is no exception with its work to improve the health of Colorado. That is why we are extremely proud to support CMS and its members by giving them the benefits of a bank built for doctors, by doctors."

For more information, please visit www.panaceafinancial.com.

About Panacea Financial

Panacea Financial, a division of Primis Financial Corp. (NASDAQ: FRST), is a nationwide financial services company offering products in all 50 states as well as Washington, D.C. and Puerto Rico. Panacea offers a full suite of banking solutions specifically built for doctors, by doctors. Follow Panacea Financial on Instagram, Facebook, Twitter, and LinkedIn

About the Colorado Medical Society

The Colorado Medical Society champions health care issues that improve patient care, promote physician professional satisfaction and create healthier communities in Colorado. To learn more about CMS, visit www.cms.org.

Follow CMS on Instagram, Facebook, Twitter, and LinkedIn

Media Contact for Panacea Financial:
media@panaceafinancial.com

Media Contact for Colorado Medical Society:
kate_alfano@cms.org

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SOURCE Panacea Financial

FAQ

What is the focus of Panacea Financial's partnership with the Colorado Medical Society?

The partnership focuses on providing tailored banking services to over 7,500 physician members of the Colorado Medical Society.

What products does Panacea Financial offer to physicians?

Panacea Financial offers checking and savings accounts, personal loans, student loan refinancing, and practice loans specifically designed for physicians and dentists.

What is the stock symbol for Panacea Financial's parent company?

The stock symbol for Panacea Financial's parent company, Primis Financial Corp., is FRST.

When was the partnership between Panacea Financial and CMS announced?

The partnership was announced on October 15, 2021.