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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 23,787 $ 32,591 $ 47,686 $ 53,954
Interest on securities, deposit accounts, and federal funds sold 2,456 1,221 4,359 2,434
Total interest income 26,243 33,812 52,045 56,388
INTEREST EXPENSE        
Interest on deposits 1,541 1,682 3,097 3,222
Interest on subordinated notes 545 868 1,098 1,498
Interest on FHLB and FRB borrowings 67 800 92 1,189
Total interest expense 2,153 3,350 4,287 5,909
Net interest income 24,090 30,462 47,758 50,479
Provision for loan losses 7,494 0 9,994 0
Net interest income after provision for loan losses 16,596 30,462 37,764 50,479
NONINTEREST INCOME        
Fair value adjustments of other equity investments (86) 0 9,278 0
Gain on sale of Paycheck Protection Program loans 0 24,315 0 24,315
Residential mortgage banking income, net 4,386 7,254 7,207 16,555
Mortgage servicing rights 1,574 1,707 8,312 5,078
Gain on sale of guaranteed government loans 1,538 143 2,965 1,217
Wealth and trust management 414 833 805 1,435
Service charges on deposit accounts 327 370 642 697
Increase in cash surrender value of bank owned life insurance 276 237 548 401
Bank and purchase card, net 599 299 1,021 599
Other 1,162 1,054 3,506 1,454
Total noninterest income 10,190 36,212 34,284 51,751
NONINTEREST EXPENSE        
Salaries and employee benefits 15,873 17,539 29,969 31,442
Occupancy and equipment 1,500 1,846 2,985 3,177
Data processing 874 1,484 1,820 2,289
Legal, issuer, and regulatory filing 618 489 1,000 1,065
Advertising and marketing 412 238 840 517
Communications 1,030 672 1,829 1,039
Audit and accounting fees 379 291 520 480
FDIC insurance 106 9 337 352
Intangible amortization 386 457 783 808
Other contractual services 999 666 1,533 1,519
Other taxes and assessments 671 1,076 1,241 1,424
Merger-related 0 1,237 50 10,256
Other 2,478 4,262 5,108 6,134
Total noninterest expenses 25,326 30,266 48,015 60,502
Income from continuing operations before income tax expense 1,460 36,408 24,033 41,728
Income tax expense 342 7,715 5,495 8,792
Net income from continuing operations 1,118 28,693 18,538 32,936
Income (loss) from discontinued operations before income taxes (including gain on disposal of $471 thousand for the six months ended June 30, 2022) 0 (65) 426 (72)
Income tax expense (benefit) 0 (14) 89 (15)
Net (loss) income from discontinued operations 0 (51) 337 (57)
Net income (loss) 1,118 28,642 18,875 32,879
Net (Income) loss from discontinued operations attributable to noncontrolling interest 0 4 (1) (5)
Net income (loss) attributable to Blue Ridge Bankshares, Inc. 1,118 28,646 18,874 32,874
Net income available to common stockholders $ 1,118 $ 28,646 $ 18,874 $ 32,874
Basic and diluted EPS from continuing operations $ 0.06 $ 1.54 $ 0.99 $ 1.95
Basic and diluted EPS from discontinued operations 0 0 0.02 0
Basic and diluted EPS attributable to Blue Ridge Bankshares, Inc. $ 0.06 $ 1.54 $ 1.01 $ 1.95