BRBS

Shares of Blue Ridge Bankshares, Inc. BRBS have gained 2.6% since the company reported its earnings for the quarter ended March 31, 2026, modestly outperforming the S&P 500 Index’s 0.6% rise over the same period. However, the stock has lagged more broadly over the past month, declining 10.4% against a 13.8% gain for the benchmark index. Blue Ridge Bankshares reported net income of $0.8 million, or $0.01 per diluted share, for the first quarter of 2026, against a net loss of $0.4 million, or $(0.01) per share, in the year-ago period, indicating a return to profitability on a year-over-year basis. Revenue components showed mixed trends. Net interest income declined 10.9% to $16.9 million from $18.9 million a year earlier, while non-interest income fell 23.6% to $2.3 million from $3.1 million. The improvement in bottom-line performance came despite lower revenues, supported by significantly reduced non-interest expenses, which dropped 18.3% to $18.7 million from $22.9 million in the prior-year quarter. The first quarter of 2026 included $1.3 million in after-tax expenses tied to executive transitions; excluding these, adjusted net income would have been $2.1 million, or $0.02 per share. BRBS does not report segmental results, but its core banking operations reflect shrinking loan balances and reduced reliance on non-strategic business lines. Net interest income declined both sequentially and year over year, primarily due to lower average balances of loans held for investment and sale, as well as reduced yields on loans. Net interest margin stood at 2.90%, unchanged from the year-ago quarter but down from the prior quarter’s 3.04%, reflecting pressure from declining loan yields despite lower funding costs. Blue Ridge Bankshares benefited from a reduction in the cost of deposits, which fell to 2.27% from 2.62% a year earlier, driven by a shift away from higher-cost brokered deposits. Blue Ridge Bankshares, Inc. price-consensus-eps-surprise-chart | Blue Ridge Bankshares, Inc. Quote Total assets declined modestly to $2.41 billion as of March 31, 2026, from $2.69 billion a year earlier, reflecting reductions in both loans held for investment and loans held for sale as the company continued to exit non-core lending activities. Loans held for investment fell to $1.83 billion from $1.87 billion sequentially and from $2.06 billion a year earlier, reflecting paydowns of...

Special Cash Dividend of $0.60 per Common Share Declared in the Quarter RICHMOND, Va., April 23, 2026 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank" or the "Bank") and BRB Financial Group, Inc., today announced financial results for the quarter ended March 31, 2026. For the quarter ended March 31, 2026, the Company reported net income of $0.8 million, or $0.01 per diluted common share, compared to net income of $4.2 million, or $0.04 per diluted common share, for the quarter ended December 31, 2025, and a net loss of $0.4 million, or ($0.01) per diluted common share, for the quarter ended March 31, 2025. Net income for the first quarter of 2026 included after-tax expenses of $1.3 million related to the transition of executive officers. Net income for the first quarter of 2026 when excluding these transition expenses was $2.1 million, or $0.02 per diluted common share. Additionally, net income for the first quarter of 2026 and fourth quarter of 2025 included after-tax benefit for recovery of credit losses of $0.5 million and $1.2 million, respectively. "On behalf of our 281 Blue Ridge Bank employees, I am pleased to report a fourth consecutive profitable quarter on the strategic journey back to our community banking roots," commented Harry Golliday, interim president and chief executive officer. "As in the prior quarter, our results reflect the impact of separation, severance, and incentive-related expenses, as well as the ongoing reduction of non-strategic loans outside of our local banking footprint—actions that weighed on near-term results but enhance the core earnings power of the community banking franchise. "We continue to execute on noninterest expense reduction initiatives to more closely align these expenses with our community banking model. Headcount, a major driver of our noninterest expense, has been reduced by 70, or 20%, since the end of the first quarter of 2025. Results of additional initiatives will be realized in the second half of 2026. "This quarter was also our first full quarter of operations after release last November from the regulatory consent order. The improved regulatory standing and lower capital requirements provided flexibility for another special dividend declared on March 30. In addition, we have been able to tu...

Shares of Blue Ridge Bankshares, Inc. BRBS have gained 0.23% since reporting results for the quarter ended Dec. 31, 2025, outperforming the S&P 500 Index, which rose 0.19% over the same period. Shares also rose 0.2% over the past month, though they lagged the broader market’s 1.5% increase during that time. For the fourth quarter of 2025, Blue Ridge Bankshares reported net income of $4.2 million, or $0.04 per diluted common share, against a net loss of $2 million, or $0.03 per share, in the year-ago quarter. This marked a return to profitability on a year-over-year basis, although earnings declined 24.3% sequentially from $5.6 million, or $0.06 per share, in the third quarter of 2025. Net interest income for the quarter was $18.1 million, down from $19.1 million in the fourth quarter of 2024, reflecting lower average interest-earning asset balances. Noninterest income totaled $2.7 million, largely unchanged from $2.8 million a year earlier, while noninterest expense declined 34% to $16.9 million from $25.6 million in the prior-year quarter, driven primarily by lower salaries, employee benefits and regulatory-related costs. For the full year, BRBS posted net income of $10.7 million, or $0.11 per diluted share, against a net loss of $15.4 million, or $0.31 per share, in 2024, underscoring a significant year-over-year improvement in overall performance. Asset quality metrics showed improvement during the quarter. Nonperforming loans declined to $23.8 million, representing 0.98% of total assets, as of Dec. 31, 2025, compared with $28.6 million, or 1.14% at the end of the prior quarter, reflecting loan payoffs and balance reductions. The allowance for credit losses as of Dec. 31, 2025, stood at 1.04% of loans held for investment, slightly lower than 1.09% a year earlier. Total assets decreased to $2.43 billion as of Dec. 31, 2025, from $2.74 billion a year earlier, driven mainly by reductions in loans and brokered deposits as the company continued to reposition its balance sheet. Capital ratios remained well above regulatory minimums, with a tangible common equity ratio of 13.2%, despite declines from the prior quarter due to dividend payments and share repurchases. Blue Ridge Bankshares, Inc. price-consensus-eps-surprise-chart | Blue Ridge Bankshares, Inc. Quote Management characterized 2025 as a “breakthrough year,” highlighting the termination of a regulatory...

A Year of Return to Profitability and Termination of Consent Order RICHMOND, Va., Jan. 29, 2026 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank" or the "Bank") and BRB Financial Group, Inc., today announced financial results for the quarter and year ended December 31, 2025. For the quarter ended December 31, 2025, the Company reported net income of $4.2 million, or $0.04 per diluted common share, compared to net income of $5.6 million, or $0.06 per diluted common share, for the quarter ended September 30, 2025, and a net loss of $2.0 million, or ($0.03) per diluted common share, for the fourth quarter of 2024. Net income for the third quarter of 2025 included after-tax loan fee income of $2.3 million due to the payoff of the Company's largest out-of-market loan, while net income for the fourth and third quarters of 2025 included after-tax income of $0.3 million and $0.6 million, respectively, on the 2024 sale of mortgage servicing rights ("MSRs"). For the fourth quarter of 2024, the net loss of $2.0 million included an after-tax loss of $2.0 million on the sale of MSRs. For the year ended December 31, 2025, the Company reported net income of $10.7 million, or $0.11 per diluted common share, compared to a net loss of $15.4 million, or ($0.31) per diluted common share, for the year ended December 31, 2024. For 2024, the Company reported $3.6 million of after-tax regulatory remediation expenses, while none were reported in 2025. A Message From Blue Ridge Bankshares, Inc. President and CEO, G. William "Billy" Beale: "2025 was a breakthrough year for Blue Ridge! The hard work and progress of the last 30 months was rewarded in November with termination of the January 2024 Consent Order issued by the Office of the Comptroller of the Currency ("OCC"). The termination of the Consent Order has a cascading impact on the Bank in areas such as borrowing costs, FDIC insurance premiums, and operating costs. It lessens barriers to capital decisions and strategic opportunities. In the quarter, we received regulatory approval to upstream capital from the Bank to pay a special $0.25 per share dividend to our shareholders. "We continue to make progress in reducing our noninterest expenses. For example, headcount was reduced by over 30% from year-end 2024 to year-end...

Shares of Blue Ridge Bankshares, Inc. BRBS have gained 1.4% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares to the S&P 500 Index’s 0.9% gain over the same time frame. Over the past month, the stock gained 2.4% compared with the S&P 500’s 2.3% rise. Blue Ridge Bankshares reported third-quarter 2025 net income of $5.6 million, or $0.06 per diluted share, representing a significant improvement from $0.9 million, or $0.01 per share, in the year-ago quarter and $1.3 million, or $0.01 per share, in the preceding quarter. Year to date, Blue Ridge Bankshares earned $6.5 million ($0.07 per share) against a net loss of $13.4 million ($0.34 per share) for the same period in 2024. Total interest income fell 7.7% year over year to $36.2 million from $39.2 million. Net interest income increased 14.7% to $21.9 million from $19.1 million a year earlier, driven by higher loan yields and one-time fee income. Noninterest income rose 42.1% to $3.8 million from $2.7 million a year ago, while noninterest expense declined 24.2% year over year to $20 million from $26.5 million. These improvements helped the bank post its highest quarterly profit since 2022. The quarter’s profitability benefited from $3 million in loan fee income on the payoff of a criticized out-of-market loan and a $0.8 million recovery from a previously charged-off specialty finance loan. Additionally, the company received $0.8 million in proceeds tied to 2024 mortgage servicing rights sales. These non-recurring items boosted both interest and non-interest income. Net interest margin expanded markedly to 3.60% from 3.15% in the prior quarter and 2.74% a year earlier, reflecting lower deposit costs and the aforementioned loan payoff. Excluding one-time items, margin gains were still supported by a better funding mix and disciplined expense control. The cost of deposits fell to 2.51% from 2.91% a year ago. Nonperforming loans rose modestly to $28.6 million (1.14% of total assets) from $24 million (0.94%) in the previous quarter, largely due to a single multifamily loan that remains current on payments. Blue Ridge Bankshares reported a $1.8 million recovery of credit losses, improving from a $0.7 million recovery last quarter. The allowance for credit losses stood at 1.07% of total loans, slightly down from 1.11% in June 2025. Blue Ridge Bankshares, Inc. price-consensus-ep...

Reports highest level of profits since 2022 RICHMOND, Va., Oct. 22, 2025 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank" or the "Bank") and BRB Financial Group, Inc., today announced financial results for the quarter ended September 30, 2025. For the quarter ended September 30, 2025, the Company reported net income of $5.6 million, or $0.06 per diluted common share, compared to net income of $1.3 million, or $0.01 per diluted common share, for the quarter ended June 30, 2025, and net income of $0.9 million, or $0.01 per diluted common share, for the third quarter of 2024. For the year-to-date period ended September 30, 2025, the Company reported net income of $6.5 million, or $0.07 per diluted common share, compared to a net loss of $13.4 million, or ($0.34) per diluted common share, for the same period of 2024. A message from Blue Ridge Bankshares, Inc. President and CEO, G. William "Billy" Beale: "Blue Ridge Bank's third quarter results are a good news story on many fronts. Before I address the numbers, I want to acknowledge the team that got us to this point and will return Blue Ridge to a prominent place in Virginia community banking. Without the tenacity, negotiation skills, attention to detail, and solid banking knowledge shown by the employees who have either joined us or quickly adapted to new leadership, these results would not have been possible. "Most banks in transition report one-time financial events as the organization returns to normal operations. We had our share this quarter. We reported $3.0 million of fee income when our largest single out-of-market loan paid off and we recovered $0.8 million from a specialty finance loan that was charged off in 2023. By successfully fulfilling obligations to the buyers of our mortgage servicing rights in 2024, we received an additional $0.8 million in noninterest income. Partially offsetting these positive events, we showed increased consulting fees, as we completed a revenue enhancement engagement started in 2024. Legal expenses also were higher in the quarter. We expect both expense lines to return to lower levels in the fourth quarter. "On an on-going basis, noninterest expenses reflect reduced Federal Deposit Insurance Corporation ("FDIC") insurance and audit fees, a sign of our improved...

Reports net income for the quarter and continued progress on regulatory remediation efforts RICHMOND, Va., July 23, 2025 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank" or the "Bank") and BRB Financial Group, Inc., today announced financial results for the quarter ended June 30, 2025. For the quarter ended June 30, 2025, the Company reported net income of $1.3 million, or $0.01 per diluted common share, compared to a net loss of $0.4 million, or ($0.01) per diluted common share, for the quarter ended March 31, 2025, and a net loss of $11.4 million, or ($0.47) per diluted common share, for the second quarter of 2024. For the first half of 2025, the Company reported net income of $0.9 million, or $0.01 per diluted common share, compared to a net loss of $14.3 million, or ($0.66) per diluted common share, for the first half of 2024. A Message From Blue Ridge Bankshares, Inc. President and CEO, G. William "Billy" Beale: "In our earnings release for first quarter 2025, I mentioned the results were a harbinger for future sustainable and increasing profitability. I am pleased to report that the Company earned $1.3 million for the second quarter and became profitable for the first half of 2025. "There are several encouraging trends. Our net interest margin, driven primarily by lower deposit costs, grew to 3.15% for the quarter, notwithstanding a smaller balance sheet. Noninterest income from service charges on deposit accounts improved through our efforts to align to market level pricing. "Reduction in noninterest expense remains a focus. The quarter reflected an improvement or reduction in expenses of almost $1.0 million from the first quarter. Included in our noninterest expenses are the salary and benefit savings we expected from the headcount reductions made in the prior quarter. These reductions in expense were masked in the quarter by additional costs relating to a component of our incentive plan, which is tied to annual profitability targets. Headcount reductions in the first half of 2025 were 109 and 170 since the end of the second quarter of 2024. We expect to report further reductions in noninterest expenses in future quarters, as we continue to focus on operational improvements and believe we are nearing the completion of regulatory remediati...

Performance reflects improvement in net interest margin and noninterest expense reduction Regulatory remediation efforts remain on track RICHMOND, Va., April 24, 2025 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank" or the "Bank") and BRB Financial Group, Inc., today announced financial results for the quarter ended March 31, 2025. For the quarter ended March 31, 2025, the Company reported a net loss of $0.4 million, or $0.01 per diluted common share, compared to a net loss of $2.0 million, or $0.03 per diluted common share, for the quarter ended December 31, 2024, and a net loss of $2.9 million, or $0.15 per diluted common share, for the first quarter of 2024. Net loss for the first quarter of 2025 included after-tax severance costs of $0.5 million and a $0.2 million loss on the sale of the mortgage division. Net loss for the fourth quarter of 2024 included an after-tax loss on the sale of mortgage servicing right assets ("MSRs"), net of the fair value adjustment, of $1.4 million. After-tax regulatory remediation expenses for the first quarter of 2025 were $0, compared to $0.2 million and $2.1 million for the fourth and first quarters of 2024, respectively. A Message From Blue Ridge Bankshares, Inc. President and CEO, G. William "Billy" Beale: "I believe that our first quarter results indicate that our shareholders will soon see a return to sustainable profitability. It has been a short journey involving exiting the fintech banking-as-a-service ("BaaS") indirect deposit business, exiting non-core lending relationships, strengthening our risk management framework, and making significant reductions in staff levels. "Over the last 12 months we have made significant progress toward compliance with the January 2024 Consent Order with our primary regulators. Recently, we received regulatory non-objection to redeem a significant portion of our subordinated debt, which will save over $2 million in interest expense annually. "As we return to community banking, our focus on operational efficiencies is a multi-faceted endeavor. To improve noninterest income, we have aligned our product pricing to the market. We are upgrading our business treasury products to be competitive with product sets offered by other banks. We have aggressively attacked noninterest...