Diversity, Equity, & Inclusion

What does Diversity, Equity, & Inclusion mean?

At Primis, we believe in the importance of diversity and the values and benefits that diversity brings. Diversity promotes the inclusion of different perspectives and ideas, helps to avoid “group think”, and creates an environment that benefits from differing perspectives and talents. At Primis, we understand that diversity is also important to our shareholders, our community, our business partners, and our valued customers.

Diversity, equity, and inclusion are at the core of Primis’s values and ethics. We strive to create a workplace and a banking community that welcomes all people regardless of age, race, ethnicity, disability, family or marital status, gender identity and expression, language, national origin, physical and mental ability, political affiliation, religion, sexual orientation, socio-economic status, veteran status, and all other characteristics that makes our collective humanity powerful and unique.

At Primis, our Diversity, Equity, and Inclusion Policy is intended to enhance our ongoing commitment to foster diversity at all levels.

Primis’ commitment to Diversity, Equity, & Inclusion

Overview

Primis Financial Corp. and Primis Bank (Primis) believes in the importance of diversity and values the benefits that diversity can bring.  Diversity promotes the inclusion of different perspectives and ideas, mitigates against “group think,” and helps to provide the opportunity to benefit from a host of perspectives and all available talent.  Primis understands that diversity is also important to our shareholders, our community, our business partners, and our customers.

This Diversity, Equity, and Inclusion Policy is intended to enhance our commitment to foster diversity at all levels, and also is intended to comply with the requirements and standards of the Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies (A Notice by the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Securities and Exchange Commission  issued on June 10, 2015).

Employees

Our human capital is the most valuable asset we have. The collective sum of the individual differences, life experiences, knowledge, inventiveness, innovation, self-expression, unique capabilities, and talent that our employees invest in their work represents a significant part of not only our culture, but our reputation and achievements, as well. As a community-focused bank, we are building a company that brings together our diverse workforce in a way that respects and celebrates our differences, which, in turn, helps us better serve our communities and our shareholders.

We embrace and encourage our employees’ differences in age, color, disability, ethnicity, family or marital status, gender identity or expression, language, national origin, physical and mental ability, political affiliation, race, religion, sexual orientation, socio-economic status, veteran status, and other characteristics that make our employees unique. To create an environment that attracts great talent, we must motivate, inspire, and recognize high performance among all employees. Primis strives to be a place where every employee has the ability to achieve their goals.

Primis’ diversity practices form the foundation of our policies and initiatives, including, among other areas, our practices and policies on recruitment and selection; compensation and benefits; professional development and training; promotions; transfers; social and recreational programs; and the ongoing development of a work environment that fosters:

• respectful communication and cooperation between all employees;
• teamwork and employee participation, permitting the representation of all groups and employee perspectives;
• work/life balance through flexible work schedules to accommodate employees’ varying needs; and
• employer and employee contributions to the communities we serve to promote a greater understanding and respect for all who are a part of such communities.

Our employees have a responsibility to implement this Diversity, Equity, and Inclusion Policy in their day-to-day work and their dealings with colleagues and customers. Employees are expected to conduct themselves in a way that reflects respect for and inclusion of all people; whether during the work-day, at work functions (on or off the work site), or at any other events that we sponsor or promote. Managers have a responsibility to implement this Diversity, Equity, and Inclusion Policy as part of their day-to-day management of employees and to apply policies and practices in a fair and equitable way.

Employees are required annually to review Primis’ diversity policy to enhance their awareness and knowledge of this responsibility.

Managers should recognize unacceptable behavior and take immediate appropriate action. Employees who believe they have been subjected to any kind of discrimination that conflicts with the company’s diversity policy and initiatives should seek assistance from Human Resources.

Any employee found to have exhibited any inappropriate conduct or behavior against others may be subject to disciplinary action, up to and including discharge.

Primis will perform regular self-assessments to identify the composition of our current employees, establish methods to regularly self-assess our employment procedures and practices to assure they are aligned with this Diversity, Equity, and Inclusion Policy. We will regularly monitor and evaluate the performance and results of our diversity strategy.

Board of Directors

Primis is committed to a merit-based system for Board composition within a diverse and inclusive culture that solicits multiple perspectives and views and is free of conscious or unconscious bias and discrimination. When assessing Board composition or identifying suitable candidates for appointment or re-election to the Board, Primis will consider candidates on merit against objective criteria having due regard to the benefits of diversity and the needs of the Board. Focusing on a commitment to inclusion, at this time Primis’ Board features a 40% minority membership among the independent directors. For purposes of Board composition, diversity includes, but is not limited to, business experience, geography, age, gender, ethnicity, race, sexual orientation, marital and family status, gender identity, personal style, disabilities, nationality, religion, veteran and active armed service status, or other recognized diversity characteristics.

In the process of searching for qualified individuals to serve on the Board, the Corporate Governance Committee should strive for inclusion of diverse groups, knowledge, and viewpoints. To accomplish this, the Corporate Governance Committee may retain an executive search firm to help further the Corporate Governance Committee’s diversity objectives. The Corporate Governance Committee will also periodically review this Diversity, Equity, and Inclusion Policy and the director selection process to assess this Policy’s effectiveness in promoting a diverse Board and ensuring that diverse candidates are included in the consideration and selection process.

Suppliers

Primis is also committed to the practice of diversity and inclusion within its procurement and business practices. We strive to initiate, build and maintain relationships with suppliers who share our commitment to diversity, and we welcome the opportunity to establish long-term partnerships with minority and women-owned businesses.

Through supplier diversity, we enlarge our pool of innovative ideas and high quality goods and services, while providing economic development opportunities for diverse businesses, which include, but are not limited to, minority-owned and women-owned businesses. It is the objective of Primis to encourage the development of mutually beneficial relationships with qualified minority-owned and women-owned businesses.