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Panacea Financial Announces Partnership with American Student Dental Association

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Panacea Financial to provide ASDA members with financial services specifically tailored to the needs of dental students

LITTLE ROCK, Arkansas — Panacea Financial and the American Student Dental Association (ASDA) today announced that they are partnering to provide ASDA dental student members with financial services including personal loans and checking and savings accounts designed for the needs of dental students.

ASDA has 23,000 student members, located in the U.S. and Puerto Rico.

“This partnership with the American Student Dental Association will help support dentists-in-training across the country with access to concierge-level banking services during a pivotal and sometimes stressful time in their career,” said Michael Jerkins, MD, M.Ed., president and co-founder of Panacea Financial. “As doctors ourselves, Panacea Financial has a deep understanding of the needs of doctors-in-training and we are looking forward to helping ASDA members be successful in their training and into their practice.”

“The American Student Dental Association protects and advances the rights, interests, and welfare of dental students, and their unique financial needs are no exception,” said Sam Setru, President at the American Student Dental Association. “We have always provided dental students with a wealth of resources that they’ll need throughout their career journey.  Panacea Financial joins us in our quest by bringing valuable financial services and resources to dental students across the country.”

Panacea Financial 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 professionals. Dental students especially have challenges accessing banking services due to high debt, frequent relocations, and limited historical income. Panacea provides tailored product offerings and service delivery designed specifically for physicians throughout their career: from dental school, through specialty residencies, and into practice. Panacea’s products cover the full suite of banking needs for dental students, including checking accounts, savings accounts, and PRN personal loans. Dental students banking with Panacea can look forward to continued support with additional services throughout the life of their career.

For more information about this new partnership, visit https://panaceafinancial.com/our-partners/asda.

About Panacea Financial

Panacea Financial, a Division of Primis (NASDAQ: FRST), focuses on providing world class financial services for dentists, physicians, and veterinarians through all stages of their training and practice. Panacea offers a full suite of banking and technology solutions specifically built for doctors, by doctors. Through the Panacea Financial Foundation, its non-profit arm, the Company is dedicated to expanding ethnic and racial diversity within the medical field, providing more than $200,000 in scholarships and grants to underrepresented minority medical students, residents, and fellows since 2021. For more information, visit PanaceaFinancial.com. Follow Panacea Financial on Instagram, Facebook, Twitter and LinkedIn.

About the American Student Dental Association

The American Student Dental Association is a national student-run organization that protects and advances the rights, interests and welfare of dental students. ASDA connects students on local and national levels and gives them the training they need to be better leaders and professionals. For more information, visit https://www.asdanet.org.

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Here’s to better financial solutions for physicians, dentists and veterinarians.

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Panacea Financial Holdings partners with Primis Bank, Member FDIC, to deliver banking services through its Panacea Financial Division.

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1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.  To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval.  Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

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