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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
INTEREST INCOME    
Interest and fees on loans $ 39,294 $ 23,899
Interest on securities, deposit accounts, and federal funds sold 3,759 1,903
Total interest income 43,053 25,802
INTEREST EXPENSE    
Interest on deposits 11,331 1,556
Interest on subordinated notes 553 553
Interest on FHLB and FRB borrowings 3,810 25
Total interest expense 15,694 2,134
Net interest income 27,359 23,668
Provision for loan losses 4,100 2,500
Provision (benefit) for credit losses - unfunded commitments (400) 0
Total provision for credit losses 3,700 2,500
Net interest income after provision for credit losses 23,659 21,168
NONINTEREST INCOME    
Fair value adjustments of other equity investments (51) 9,364
Residential mortgage banking income, including MSRs 1,303 9,559
Gain on sale of guaranteed government loans 2,409 1,427
Wealth and trust management 432 391
Service charges on deposit accounts 343 315
Increase in cash surrender value of bank owned life insurance 282 272
Bank and purchase card, net 340 422
Other 2,225 2,344
Total noninterest income 7,283 24,094
NONINTEREST EXPENSE    
Salaries and employee benefits 15,289 14,096
Occupancy and equipment 1,569 1,485
Data processing 1,346 946
Legal and regulatory filing 1,234 382
Advertising and marketing 286 428
Communications 1,131 799
Audit and accounting fees 146 141
FDIC insurance 729 231
Intangible amortization 355 397
Other contractual services 939 534
Other taxes and assessments 802 570
Regulatory remediation 1,134 0
Merger-related 0 50
Other 3,887 2,630
Total noninterest expenses 28,847 22,689
Income from continuing operations before income tax expense 2,095 22,573
Income tax expense 491 5,153
Net income from continuing operations 1,604 17,420
Income from discontinued operations before income taxes 0 426
Income tax expense 0 89
Net income from discontinued operations 0 337
Net income 1,604 17,757
Net Income from discontinued operations attributable to noncontrolling interest 0 (1)
Net income attributable to Blue Ridge Bankshares, Inc. 1,604 17,756
Net income available to common stockholders $ 1,604 $ 17,756
Basic EPS from continuing operations $ 0.09 $ 0.93
Diluted EPS from continuing operations $ 0.09 $ 0.93