Panacea Financial is a fintech company and division of Primis Financial Corp., dedicated to providing banking and lending services specifically for healthcare professionals, including physicians, medical students, residents, dentists, and veterinarians. Founded in 2020 by doctors Michael Jerkins and Ned Palmer, along with CEO Tyler Stafford, the company operates nationwide, including all 50 U.S. states, Washington, D.C., and Puerto Rico. Headquartered in Little Rock, Arkansas, Panacea Financial is backed by Primis Bank, allowing for a fully digital banking experience.
The company offers a range of financial products tailored to the unique needs of medical professionals. This includes personal banking options like free checking and high-yield savings accounts, as well as personal and student loans with competitive rates and quick funding. Panacea also provides commercial loans for practice financing, all accessible through its digital platform. The company emphasizes customer service with 24/7 support and aims to simplify financing for its clients while supporting underrepresented minority physicians through its initiatives.
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