BLUE RIDGE BANKSHARES, INC.

Listed Company

BRBSCIK 0000842717NYSEAcceleratedSmaller ReportingState Commercial BanksVirginiaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$10.71M

Total Assets

$2.43B

Equity

$323.69M

Shares Out

91.34M

Op. Cash Flow

$13.63M

Business

BLUE RIDGE BANKSHARES, INC. operates as a bank holding company providing commercial and consumer banking and financial services through its bank and wealth/trust subsidiaries. It offers retail and commercial banking products, mortgage banking, consumer and commercial loans, deposit accounts, cash management, fintech-enabled lending, and investment, wealth and trust management services. Key business segments include Blue Ridge Bank, National Association for banking and mortgage activities and BRB Financial Group, Inc. for wealth and trust services, with ancillary insurance offerings through a minority investment. The Company serves markets across the Shenandoah Valley, Piedmont, Richmond, coastal peninsulas, Hampton Roads regions of Virginia and central North Carolina via branch offices, commercial lending offices, mortgage operations, and digital channels.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	121	142	153	111	98
Interest on securities, deposit accounts, and federal funds sold	16	18	16	11	6
Total interest income	138	160	169	122	104
Interest on deposits	51	69	60	11	6
Interest on subordinated notes	2	2	2	2	3
Interest on FHLB and FRB borrowings	6	10	14	4	2
Total interest expense	59	82	76	—	—
Net interest income	79	79	93	105	92
Recovery of credit losses - loans	−4	−3	25	—	—
Recovery of credit losses - unfunded commitments	−100,000	−2	−2	0	0
Total recovery of credit losses	−4	−5	22	26	117,000
Net interest income after recovery of credit losses	83	84	71	79	92
Service charges on deposit accounts	3	2	1	1	1
Bank and purchase card interchange income, net	2	2	2	2	2
Wealth and trust management fees	2	2	2	2	2
Swap transaction fees	540,000	0	—	—	—
Increase in cash surrender value of bank owned life insurance	33,000	855,000	1	1	932,000
Residential mortgage banking income	860,000	10	12	21	37
"Mortgage servicing rights (""MSRs"")"	−385,000	629,000	−2	8	8
Income (loss) on sale of MSRs	1	−4	—	—	—
Loss on sale of securities available for sale	0	−67,000	−649,000	—	—
Fair value adjustments of other equity investments	−112,000	−8	−110,000	9	7
Other	4	8	9	7	4
Total noninterest income	13	14	28	48	87
Salaries and employee benefits	46	58	58	56	61
Occupancy and equipment	5	6	7	6	6
Technology and communications	10	10	10	—	—
Legal and regulatory filings	2	2	5	3	2
Advertising and marketing	1	933,000	1	1	1
Audit fees	1	3	3	1	902,000
FDIC insurance	3	5	5	1	1
Intangible amortization	914,000	1	1	2	2
Other contractual services	2	7	8	3	3
Other taxes and assessments	4	3	3	3	3
Regulatory remediation	0	5	10	7	0
Other	7	13	14	13	12
Total noninterest expense	82	114	158	105	111
Income (loss) before income tax expense	14	−17	−59	22	68
Income tax expense (benefit)	3	−1	−7	5	16
Net income (loss)	11	−15	−52	17	52
Basic earnings (loss) per common share	0.12	−0.31	−2.73	0.9	2.95
Diluted earnings (loss) per common share	0.11	−0.31	−2.73	0.9	2.95

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	116	174	110	77	131
Restricted cash	0	2	11	0	—
Federal funds sold	2	838,000	4	1	44
Securities available for sale, at fair value	333	312	321	354	374
Restricted equity investments	19	19	19	21	8
Other equity investments	5	5	13	24	14
Other investments	21	19	30	25	13
Loans held for sale	15	31	46	70	122
Loans held for investment, net of deferred fees and costs	1,866	2,112	2,431	2,399	1,777
Less: allowance for credit losses	−19	−23	−36	−31	—
Loans held for investment, net	1,846	2,089	2,395	2,368	1,765
Accrued interest receivable	11	13	15	12	10
Other real estate owned	2	279,000	0	195,000	157,000
Premises and equipment, net	22	21	22	23	27
Right-of-use assets	7	8	9	7	6
Other intangible assets	3	4	5	7	8
Deferred tax asset, net	23	27	22	12	150,000
Other assets	10	12	20	14	23
Total assets	2,433	2,737	3,118	3,130	2,665
Noninterest-bearing demand	399	453	506	640	686
Interest-bearing demand and money market	613	599	1,050	1,319	962
Savings	100	101	118	152	150
Time	800	1,027	892	392	500
Total deposits	1,911	2,179	2,566	2,503	2,298
FHLB borrowings	150	150	210	312	10
Subordinated notes, net	15	40	40	40	40
Lease liabilities	7	9	10	8	8
Other liabilities	26	32	41	20	15
Total liabilities	2,109	2,409	2,932	2,882	2,388
Commitments and contingencies (Note 19)	—	—	—	—	—
Common stock, no par value; 150,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; and 91,475,278 and 84,972,610 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	332	323	198	196	194
Additional paid-in capital	24	30	252,000	252,000	252,000
(Accumulated deficit) retained earnings	−659,000	18	33	98	86
Accumulated other comprehensive loss, net of tax	−31	−42	−45	−45	−4
Total stockholders equity	324	328	186	249	277
Total liabilities and stockholders equity	2,433	2,737	3,118	3,130	2,665

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	11	−15	−52	17	53
Depreciation and amortization	1	2	2	2	2
Deferred income tax expense	1	−6	−7	−20,000	2
Accretion of fair value adjustments on acquired loans, time deposits and subordinated notes	−2	−2	—	—	—
Proceeds from sale of other loans held for sale	0	25	0	—	—
Proceeds from sale of mortgage loans held for sale	42	221	252	522	1,228
Mortgage loans held for sale, originated	−34	−212	−249	−417	−1,172
Gain on sale of mortgage loans	−532,000	−2	−2	−4	−21
Proceeds from sale of guaranteed government loans held for sale	0	2	83	54	0
Guaranteed government loans held for sale, originated	0	−293,000	−37	−88	0
Gain on sale of guaranteed government loans	0	−102,000	−6	−5	0
Increase in cash surrender value of bank owned life insurance	−33,000	−855,000	1	−1	−932,000
Fair value adjustments of other equity investments	112,000	8	110,000	−9	−7
MSR	385,000	−629,000	2	−2	0
(Income) loss on sale of MSRs	−1	4	—	—	—
Realized loss on sale of securities available for sale	0	67,000	649,000	—	—
Loss on disposal of premises and equipment, other investments, other assets, and other real estate owned	283,000	44,000	530,000	−263,000	110,000
Investment amortization expense, net	205,000	513,000	653,000	1	2
Amortization of subordinated debt issuance costs	15,000	34,000	35,000	35,000	206,000
Decrease in accrued interest receivable	2	2	−3	−2	−4
Decrease (increase) in other assets	10	−19	−16	2	16
Decrease in other liabilities	−14	−8	26	5	−11
Cash provided by (used in) operating activities	14	−6	44	94	59
Purchase of securities available for sale	−36	−15	0	−68	−265
Proceeds from calls, sales, paydowns, and maturities of securities available for sale	30	27	33	33	72
Net (increase) decrease in federal funds sold	−1	4	−3	42	−41
Proceeds from sale of premises and equipment, other investments, other assets, MSRs, and other real estate owned	2	38	—	—	—
Capital calls of SBIC funds and other investments	−2	−3	−5	−11	−12
Nonincome distributions from limited liability companies	540,000	741,000	2	1	647,000
Net decrease in loans held for investment	250	322	−61	—	—
Proceeds from surrender of bank owned life insurance policies	212,000	48	0	—	—
Net change in restricted equity and other investments	502,000	−1	3	−14	−78,000
Purchase of premises and equipment	−2	−588,000	−961,000	−455,000	−1
Cash provided by investing activities	242	419	−23	−628	52
Net decrease in demand, savings, and other interest-bearing deposits	−41	−521	−437	312	452
Net (decrease) increase in time deposits	−227	135	501	−106	−127
FHLB advances	0	726	1,940	823	721
FHLB repayments	0	−786	−2,042	−521	−836
FRB repayments	0	−65	−51,000	−18	−723
Subordinated note redemptions	−25	0	—	0	0
Proceeds from Private Placements, net of issuance costs	0	152	0	—	—
Common stock dividends paid	−23	0	−5	−9	−7
Repurchases of common stock and warrants to purchase common stock	−10	0	—	—	—
Warrants exercised	10	1	0	—	—
Cash used in financing activities	−316	−358	23	481	−99
Net (decrease) increase in cash and due from banks	−60	55	44	−53	13
Interest	61	84	68	16	12
Income taxes	7	0	7	2	10
Loans held for investment transferred to loans held for sale	0	14	0	—	—
Loans held for sale transferred to loans held for investment	0	3	0	—	—
Loans held for investment transferred to other real estate owned	1	409,000	0	—	—
Loans held for investment transferred to other non-real estate owned	222,000	0	—	—	—
Unrealized gain on securities available for sale	15	3	−592,000	−53	−6
Restricted stock awards, net of forfeitures	3	1	2	2	1
Conversion of preferred stock into common stock	0	116	0	—	—

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