XML 21 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME    
Interest and fees on loans $ 97,933 $ 51,559
Interest on securities, deposit accounts, and federal funds sold 5,613 2,901
Total interest income 103,546 54,460
INTEREST EXPENSE    
Interest on deposits 6,437 6,246
Interest on subordinated notes 2,627 1,265
Interest on FHLB and FRB borrowings 2,001 2,439
Total interest expense 11,065 9,950
Net interest income 92,481 44,510
Provision for loan losses 117 10,450
Net interest income after provision for loan losses 92,364 34,060
NONINTEREST INCOME    
Gain on sale of Paycheck Protection Program loans 24,315
Residential mortgage banking income, net 28,624 44,460
Mortgage servicing rights 8,398 7,084
Gain on termination of interest rate swaps 6,221
Gain on sale of guaranteed government loans 2,005 880
Wealth and trust management 2,373 0
Service charges on deposit accounts 1,464 905
Increase in cash surrender value of bank owned life insurance 932 390
Payroll processing 941 974
Bank and purchase card, net 1,805 1,297
Fair value adjustments of other equity investments 7,316
Other 3,561 834
Total noninterest income 87,955 56,824
NONINTEREST EXPENSE    
Salaries and employee benefits 61,891 45,418
Occupancy and equipment 6,508 3,551
Data processing 4,441 2,683
Legal, issuer, and regulatory filing 1,736 2,687
Advertising and marketing 1,403 776
Communications 2,814 721
Audit and accounting fees 902 436
FDIC insurance 1,014 749
Intangible amortization 1,867 825
Other contractual services 2,783 1,408
Other taxes and assessments 2,613 1,013
Merger-related 11,868 2,372
Other 12,302 5,748
Total noninterest expenses 112,142 68,387
Income (loss) before income taxes 68,177 22,497
Income tax expense 15,697 4,800
Net income 52,480 17,697
Net income attributable to noncontrolling interest (3) (1)
Net Income attributable to Blue Ridge Bankshares, Inc. 52,477 17,696
Net Income available to common stockholders $ 52,477 $ 17,696
Basic and diluted earnings per common share [1] $ 2.94 $ 2.07
[1]

(1) EPS has been adjusted for all periods presented to reflect the Company's 3-for-2 stock split effective April 30, 2021.