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Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest and fees on loans $ 13,780,000 $ 6,927,000 $ 35,766,000 $ 19,640,000
Interest on taxable securities 634,000 1,133,000 2,147,000 2,601,000
Interest on nontaxable securities 30,000 56,000 119,000 183,000
Interest on federal funds sold   2,000 2,000 6,000
Total interest income 14,444,000 8,118,000 38,034,000 22,430,000
Interest expense:        
Interest on deposits 1,515,000 1,763,000 4,889,000 4,491,000
Interest on subordinated debentures 411,000 169,000 854,000 532,000
Interest on other borrowings 689,000 750,000 1,794,000 1,920,000
Total interest expense 2,615,000 2,682,000 7,537,000 6,943,000
Net interest income 11,829,000 5,436,000 30,497,000 15,487,000
Provision for loan losses 4,000,000 570,000 8,075,000 1,465,000
Net interest income after provision for loan losses 7,829,000 4,866,000 22,422,000 14,022,000
Non-interest income:        
Service charges on deposit accounts 215,000 171,000 669,000 459,000
Residential mortgage banking income, net 16,044,000 3,943,000 35,210,000 10,966,000
Income from investment in life insurance contracts 94,000 59,000 278,000 874,000
Gain on sale of guaranteed USDA loans 516,000 252,000 779,000 298,000
Other income 880,000 548,000 2,334,000 1,658,000
Total other income 17,749,000 4,973,000 39,270,000 14,255,000
Non-interest expenses:        
Salaries and employee benefits 11,880,000 5,079,000 30,141,000 14,149,000
Occupancy and equipment 922,000 627,000 2,653,000 1,868,000
Data processing fees 675,000 413,000 1,799,000 1,069,000
Legal, issuer, and regulatory filing fees 1,536,000 295,000 2,073,000 930,000
Advertising fees 165,000 191,000 518,000 607,000
Communications 214,000 123,000 536,000 334,000
Debit card 137,000 82,000 465,000 242,000
Audit and accounting fees 98,000 87,000 291,000 175,000
FDIC insurance 187,000 86,000 568,000 256,000
Other contractual services 516,000 89,000 870,000 270,000
Other taxes and assessments 280,000 257,000 748,000 746,000
Other operating 2,202,000 878,000 5,296,000 2,571,000
Total other expenses 18,812,000 8,207,000 45,958,000 23,217,000
Income before income tax 6,766,000 1,632,000 15,734,000 5,060,000
Income tax expense 1,707,000 379,000 3,618,000 989,000
Net income 5,059,000 1,253,000 12,116,000 4,071,000
Net (Income) loss attributable to noncontrolling interest 4,000 (3,000) (1,000) (21,000)
Net Income attributable to Blue Ridge Bankshares, Inc. 5,063,000 1,250,000 12,115,000 4,050,000
Net Income available to Common Stockholders $ 5,063,000 $ 1,250,000 $ 12,115,000 $ 4,050,000
Basic earnings per common share $ 0.88 $ 0.29 $ 2.13 $ 1.01
Diluted earnings per common share $ 0.88 $ 0.29 $ 2.13 $ 1.01