Business Segments

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segments

Note 19. Business Segments

The Company has identified three primary business segments, which are commercial banking, mortgage banking, and holding company (parent) activities. Revenues from commercial banking operations consist primarily of interest earned on loans and investment securities and service charges on deposit accounts. Mortgage banking operating revenues consist principally of gains on sales of loans in the secondary market, loan origination fee income, mortgage servicing rights and fees, and interest earned on mortgage loans held for sale. Activities at the holding company or parent level are primarily associated with corporate investments and borrowings.

The following tables present statement of operations items and assets by segment as of and for the periods stated.

	For the year ended December 31, 2021
(Dollars in thousands)	Commercial Banking			Mortgage Banking		Parent Only			Eliminations			Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income	$	99,810		$	3,596	$	140		$	—		$	103,546
Interest expense		8,181			257		2,627			—			11,065
Net interest income		91,629			3,339		(2,487	)		—			92,481
Provision for loan losses		117			—		—			—			117
Net interest income after provision for loan losses		91,512			3,339		(2,487	)		—			92,364
NONINTEREST INCOME
Gain on sale of Paycheck Protection Program loans		24,315			—		—			—			24,315
Residential mortgage banking income, net		—			28,624		—			—			28,624
Mortgage servicing rights		—			8,398		—			—			8,398
Gain on sale of guaranteed government loans		2,005			—		—			—			2,005
Service charges on deposit accounts		1,464			—		—			—			1,464
Increase in cash surrender value of bank owned life insurance		932			—		—			—			932
Payroll processing		941			—		—			—			941
Other income		13,953			—		7,505			(182	)		21,276
Total noninterest income		43,610			37,022		7,505			(182	)		87,955
NONINTEREST EXPENSE
Salaries and employee benefits		33,687			28,204		—			—			61,891
Merger-related		9,226			—		2,642			—			11,868
Other operating expenses		31,163			6,385		1,017			(182	)		38,383
Total noninterest expense		74,076			34,589		3,659			(182	)		112,142
Income before income taxes		61,046			5,772		1,359			—			68,177
Income tax expense		13,935			1,253		509			—			15,697
Net income	$	47,111		$	4,519	$	850		$	—		$	52,480
Net income attributable to noncontrolling interest		(3	)		—		—			—			(3	)
Net income attributable to Blue Ridge Bankshares, Inc.	$	47,108		$	4,519	$	850		$	—		$	52,477
Total assets as of December 31, 2021	$	2,498,916		$	142,537	$	319,685		$	(295,999	)	$	2,665,139

	For the year ended December 31, 2020
(Dollars in thousands)	Commercial Banking			Mortgage Banking		Parent Only			Eliminations			Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income	$	51,020		$	3,314	$	126		$	—		$	54,460
Interest expense		8,331			354		1,265			—			9,950
Net interest income		42,689			2,960		(1,139	)		—			44,510
Provision for loan losses		10,450			—		—			—			10,450
Net interest income after provision for loan losses		32,239			2,960		(1,139	)		—			34,060
NONINTEREST INCOME
Residential mortgage banking income, net		—			44,460		—			—			44,460
Mortgage servicing rights		—			7,084		—			—			7,084
Gain on sale of guaranteed government loans		880			—		—			—			880
Service charges on deposit accounts		905			—		—			—			905
Increase in cash surrender value of bank owned life insurance		390			—		—			—			390
Payroll processing		974			—		—			—			974
Other income		2,165			—		—			(34	)		2,131
Total noninterest income		5,314			51,544		—			(34	)		56,824
NONINTEREST EXPENSE
Salaries and employee benefits		14,217			31,201		—			—			45,418
Other operating expenses		12,574			8,075		2,354			(34	)		22,969
Total noninterest expense		26,791			39,276		2,354			(34	)		68,387
Income (loss) before income taxes		10,762			15,228		(3,493	)		—			22,497
Income tax expense (benefit)		2,162			3,337		(699	)		—			4,800
Net income (loss)	$	8,600		$	11,891	$	(2,794	)	$	—		$	17,697
Net income attributable to noncontrolling interest		(1	)		—		—			—			(1	)
Net income (loss) attributable to Blue Ridge Bankshares, Inc.	$	8,599		$	11,891	$	(2,794	)	$	—		$	17,696
Total assets as of December 31, 2020	$	1,312,095		$	177,074	$	133,041		$	(123,952	)	$	1,498,258