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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
NET INTEREST INCOME      
Interest and fees on loans $ 152,942 $ 111,002 $ 97,933
Interest on securities, deposit accounts, and federal funds sold 16,053 10,650 5,613
Total interest income 168,995 121,652 103,546
INTEREST EXPENSE      
Interest on deposits 59,969 11,260 6,437
Interest on subordinated notes 2,209 2,215 2,627
Interest on FHLB and FRB borrowings 13,776 3,610 2,001
Total interest expense 75,954 17,085 11,065
Net interest income 93,041 104,567 92,481
Provision for credit losses - loans 24,703 25,687 117
Provision (benefit) for credit losses - unfunded commitments (2,380) 0 0
Total provision for credit losses 22,323 25,687 117
Net interest income after provision for credit losses 70,718 78,880 92,364
NONINTEREST INCOME      
Fair value adjustments of other equity investments (110) 9,306 7,316
Loss on sale of other equity investments (1,636) 0 0
Gain on sale of Paycheck Protection Program loans 0 0 24,315
Residential mortgage banking income, including MSRs 10,000 20,647 37,022
Gain on sale of guaranteed government loans 5,704 4,734 2,005
Gain on termination of interest rate swaps 0 0 6,221
Wealth and trust management 1,839 1,769 2,373
Service charges on deposit accounts 1,423 1,289 1,464
Increase in cash surrender value of bank owned life insurance 1,195 1,348 932
Bank and purchase card, net 1,703 2,240 1,805
Other 8,423 6,759 3,535
Total noninterest income 28,541 48,092 86,988
NONINTEREST EXPENSE      
Salaries and employee benefits 58,158 56,006 61,481
Occupancy and equipment 6,506 5,916 6,413
Data processing 5,686 4,593 4,233
Legal and regulatory filings 4,613 3,004 1,736
Advertising and marketing 1,157 1,460 1,364
Communications 4,410 3,825 2,810
Audit and accounting fees 2,821 1,304 902
FDIC insurance 5,059 1,340 1,014
Intangible amortization 1,295 1,525 1,671
Other contractual services 7,713 3,137 2,783
Other taxes and assessments 3,216 2,668 2,607
Regulatory remediation 10,459 7,442 0
Merger-related 0 50 11,868
Goodwill impairment 26,826 0 0
ESOP litigation 6,000 0 0
Other 14,184 12,506 12,106
Total noninterest expenses 158,103 104,776 110,988
(Loss) income from continuing operations before income tax expense (58,844) 22,196 68,364
Income (benefit) tax expense (7,071) 5,199 15,740
Net (loss) income from continuing operations (51,773) 16,997 52,624
Income (loss) from discontinued operations before income taxes (including gain on disposal of $471 thousand for the year ended December 31, 2022) 0 426 (183)
Income tax expense (benefit) 0 89 (39)
Net income (loss) from discontinued operations 0 337 (144)
Net (loss) income (51,773) 17,334 52,480
Net income from discontinued operations attributable to noncontrolling interest 0 (1) (3)
Net (loss) income attributable to Blue Ridge Bankshares, Inc. (51,773) 17,333 52,477
Net (loss) Income available to common stockholders $ (51,773) $ 17,333 $ 52,477
Basic (loss) earnings per share from continuing operations $ (2.73) $ 0.9 $ 2.95
Diluted (loss) earnings per share from continuing operations $ (2.73) $ 0.9 $ 2.95