Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

The following tables present revenues and expenses by segment for the three and nine months ended September 30, 2020 and September 30, 2019.

	Three Months Ended September 30, 2020
(in thousands)	Blue Ridge Bank		Blue Ridge Bank Mortgage Division		MoneyWise Payroll Solutions, Inc.			Parent Only			Eliminations			Blue Ridge Bankshares, Inc. Consolidated
Revenues:
Interest income	$	13,495	$	917	$	—		$	32		$	—		$	14,444
Service charges on deposit accounts		215		—		—			—			—			215
Mortgage banking income, net		—		16,044		—			—			—			16,044
Payroll processing revenue		—		—		221			—			—			221
Other operating income		1,275		—		—			—			(6	)		1,269
Total income		14,985		16,961		221			32			(6	)		32,193
Expenses:
Interest expense		2,132		72		—			411			—			2,615
Provision for loan losses		4,000		—		—			—			—			4,000
Salary and benefits		3,311		8,455		114			—			—			11,880
Other operating expenses		3,370		2,133		133			1,302			(6	)		6,932
Total expense		12,813		10,660		247			1,713			(6	)		25,427
Income (loss) before income taxes		2,172		6,301		(26	)		(1,681	)		—			6,766
Income tax expense (benefit)		528		1,276		(5	)		(92	)		—			1,707
Net income (loss)	$	1,644	$	5,025	$	(21	)	$	(1,589	)	$	—		$	5,059
Net (income) loss attributable to noncontrolling interest	$	—	$	—	$	4		$	—		$	—		$	4
Net income (loss) attributable to Blue Ridge Bankshares	$	1,644	$	5,025	$	(17	)	$	(1,589	)	$	—		$	5,063

Note 12 – Business Segments, continued

	Nine Months Ended September 30, 2020
(in thousands)	Blue Ridge Bank		Blue Ridge Bank Mortgage Division		MoneyWise Payroll Solutions, Inc.			Parent Only			Eliminations			Blue Ridge Bankshares, Inc. Consolidated
Revenues:
Interest income	$	35,985	$	2,012	$	—		$	37		$	—		$	38,034
Service charges on deposit accounts		669		—		—			—			—			669
Mortgage banking income, net		—		35,210		—			—			—			35,210
Payroll processing revenue		—		—		736			—			—			736
Other operating income		2,673		—		—			—			(18	)		2,655
Total income		39,327		37,222		736			37			(18	)		77,304
Expenses:
Interest expense		6,440		243		—			854			—			7,537
Provision for loan losses		8,075		—		—			—			—			8,075
Salary and benefits		9,586		20,221		334			—			—			30,141
Other operating expenses		8,771		4,914		393			1,757			(18	)		15,817
Total expense		32,872		25,378		727			2,611			(18	)		61,570
Income (loss) before income taxes		6,455		11,844		9			(2,574	)		—			15,734
Income tax expense (benefit)		1,443		2,440		2			(267	)		—			3,618
Net income (loss)	$	5,012	$	9,404	$	7		$	(2,307	)	$	—		$	12,116
Net (income) loss attributable to noncontrolling interest	$	—	$	—	$	(1	)	$	—		$	—		$	(1	)
Net income (loss) attributable to Blue Ridge Bankshares, Inc.	$	5,012	$	9,404	$	6		$	(2,307	)	$	—		$	12,115

	Nine Months Ended September 30, 2019
(in thousands)	Blue Ridge Bank		Blue Ridge Bank Mortgage Division		MoneyWise Payroll Solutions, Inc.			Parent Only			Eliminations			Blue Ridge Bankshares, Inc. Consolidated
Revenues:
Interest income	$	21,581	$	845	$	—		$	4		$	—		$	22,430
Service charges on deposit accounts		459		—		—			—			—			459
Mortgage banking income, net		—		10,966		—			—			—			10,966
Payroll processing revenue		—		—		743			—			—			743
Other operating income		2,057		—		—			48			(18	)		2,087
Total income		24,097		11,811		743			52			(18	)		36,685
Expenses:
Interest expense		5,921		490		—			532			—			6,943
Provision for loan losses		1,465		—		—			—			—			1,465
Salary and benefits		6,167		7,711		271			—			—			14,149
Other operating expenses		5,194		2,697		344			851			(18	)		9,068
Total expense		18,747		10,898		615			1,383			(18	)		31,625
Income (loss) before income taxes		5,350		913		128			(1,331	)		—			5,060
Income tax expense (benefit)		932		193		22			(158	)		—			989
Net income (loss)	$	4,418	$	720	$	106		$	(1,173	)	$	—		$	4,071
Net (income) loss attributable to noncontrolling interest	$	—	$	—	$	(21	)	$	—		$	—		$	(21	)
Net income (loss) attributable to Blue Ridge Bankshares, Inc.	$	4,418	$	720	$	85		$	(1,173	)	$	—		$	4,050