XML 19 R4.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
NET INTEREST INCOME      
Interest and fees on loans $ 116,826 $ 97,933 $ 51,559
Interest on securities, deposit accounts, and federal funds sold 10,650 5,613 2,901
Total interest income 127,476 103,546 54,460
INTEREST EXPENSE      
Interest on deposits 11,260 6,437 6,246
Interest on subordinated notes 2,215 2,627 1,265
Interest on FHLB and FRB borrowings 3,610 2,001 2,439
Total interest expense 17,085 11,065 9,950
Net interest income 110,391 92,481 44,510
Provision for loan losses 17,886 117 10,450
Net interest income after provision for loan losses 92,505 92,364 34,060
NONINTEREST INCOME      
Fair value adjustments of other equity investments 9,306 7,316 0
Gain on sale of Paycheck Protection Program loans 0 24,315 0
Residential mortgage banking income, net 12,609 28,624 44,460
Mortgage servicing rights 8,038 8,398 7,084
Gain on sale of guaranteed government loans 4,734 2,005 880
Gain on termination of interest rate swaps 0 6,221 0
Wealth and trust management 1,769 2,373 0
Service charges on deposit accounts 1,289 1,464 905
Increase in cash surrender value of bank owned life insurance 1,348 932 390
Bank and purchase card, net 2,240 1,805 1,297
Other 6,759 3,535 834
Total noninterest income 48,092 86,988 55,850
NONINTEREST EXPENSE      
Salaries and employee benefits 56,006 61,481 44,974
Occupancy and equipment 5,916 6,413 3,444
Data processing 4,593 4,233 2,504
Legal, and regulatory filing 3,004 1,736 2,687
Advertising and marketing 1,460 1,364 734
Communications 3,825 2,810 718
Audit and accounting fees 1,304 902 436
FDIC insurance 1,340 1,014 749
Intangible amortization 1,525 1,671 629
Other contractual services 3,137 2,783 1,408
Other taxes and assessments 2,668 2,607 1,006
Regulatory remediation 7,442 0 0
Merger-related 50 11,868 2,372
Other 12,506 12,106 5,575
Total noninterest expenses 104,776 110,988 67,236
Income from continuing operations before income tax expense 35,821 68,364 22,674
Income tax expense 8,244 15,740 4,837
Net income from continuing operations 27,577 52,624 17,837
Income (loss) from discontinued operations before income taxes (including gain on disposal of $471 thousand for the year ended December 31, 2022) 426 (183) (177)
Income tax expense (benefit) 89 (39) (37)
Net income (loss) from discontinued operations 337 (144) (140)
Net income 27,914 52,480 17,697
Net income from discontinued operations attributable to noncontrolling interest (1) (3) (1)
Net income attributable to Blue Ridge Bankshares, Inc. 27,913 52,477 17,696
Net Income available to common stockholders $ 27,913 $ 52,477 $ 17,696
Basic EPS from continuing operations $ 1.46 $ 2.95 $ 2.07
Diluted EPS from continuing operations, Diluted $ 1.46 $ 2.95 $ 2.07