$BRBS

BLUE RIDGE BANKSHARES, INC.

CIK:0000842717|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Interest and fees on loans	$ 25,381	$ 30,730	$ 51,090	$ 61,884
Interest on securities, deposit accounts, and federal funds sold	3,465	4,006	7,145	8,202
Total interest income	28,846	34,736	58,235	70,086
INTEREST EXPENSE
Interest on deposits	10,583	12,802	21,343	26,994
Interest on subordinated notes	273	646	564	1,382
Interest on FHLB borrowings	1,447	1,447	2,879	2,879
Total interest expense	12,303	14,895	24,786	31,255
Net interest income	16,543	19,841	33,449	38,831
Provision for (recovery of) credit losses - loans	3,500	(700)	2,900	(700)
Provision for credit losses - unfunded commitments	550	0	550	0
Total provision for (recovery of) credit losses	4,050	(700)	3,450	(700)
Net interest income after provision for (recovery of) credit losses	12,493	20,541	29,999	39,531
NONINTEREST INCOME
Service charges on deposit accounts	642	721	1,274	1,178
Bank and purchase card interchange income, net	620	626	1,165	1,193
Wealth and trust management fees	520	409	984	863
Residential mortgage banking income	0	117	0	841
Loss on sale of securities available for sale	(123)	0	(123)	0
Other	111	1,371	818	2,241
Total noninterest income	1,770	3,244	4,118	6,316
NONINTEREST EXPENSE
Salaries and employee benefits	9,028	13,000	20,085	25,610
Occupancy and equipment	1,062	1,129	2,301	2,510
Technology and communication	1,916	2,565	3,903	5,349
Legal and regulatory filings	477	395	1,059	834
Advertising and marketing	423	128	1,188	319
Audit fees	226	459	481	1,037
FDIC insurance	318	1,027	738	2,124
Intangible amortization	191	234	393	478
Other contractual services	344	433	546	1,028
Other taxes and assessments	842	955	1,670	1,876
Other	1,064	1,684	2,268	3,795
Total noninterest expense	15,891	22,009	34,632	44,960
(Loss) income before income tax expense	(1,628)	1,776	(515)	887
Income tax (benefit) expense	(333)	480	(56)	25
Net (loss) income	$ (1,295)	$ 1,296	$ (459)	$ 862
Basic (loss) earnings per common share	$ (0.01)	$ 0.01	$ (0.01)	$ 0.01
Diluted (loss) earnings per common share	$ (0.01)	$ 0.01	$ (0.01)	$ 0.01

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net (loss) income	$ (459)	$ 862
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	731	703
Deferred income tax (benefit) expense	(222)	1,408
Provision for (recovery of) credit losses - loans	2,900	(700)
Provision for credit losses - unfunded commitments	550	0
Accretion of fair value adjustments on acquired loans, time deposits, and subordinated notes	(338)	(845)
Proceeds from sale of mortgage loans held for sale	0	42,075
Mortgage loans held for sale, originated	0	(34,316)
Gain on sale of mortgage loans	0	(541)
Realized loss on sale of securities available for sale	123	0
(Gain) loss on disposal of premises and equipment, other assets, and other real estate owned	(12)	250
Investment amortization expense, net	(8)	145
Amortization of subordinated debt issuance costs	0	188
Intangible amortization	393	478
Decrease in accrued interest receivable	647	826
Decrease in other assets	15,024	11,085
Decrease in other liabilities	(2,567)	(14,550)
Cash provided by operating activities	16,762	7,068
Cash Flows From Investing Activities
Purchases of securities available for sale	(11,086)	(21,174)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale	25,993	10,643
Net (increase) decrease in federal funds sold	(502)	210
Proceeds from sale of premises and equipment, other assets, MSRs, and other real estate owned	147	395
Capital calls on other investments	(379)	(1,544)
Purchases of loans held for investment	(17,310)	0
Net change in loans held for investment, excluding purchased loans	29,063	133,821
Proceeds from surrender of bank owned life insurance policies	0	212
Net change in restricted equity and other investments	2,800	346
Purchase of premises and equipment	(678)	(152)
Other investment activities	2,596	53
Cash provided by investing activities	30,644	122,810
Cash Flows From Financing Activities:
Net (decrease) increase in demand, savings, and other interest-bearing deposits	(21,099)	6,185
Net increase (decrease) in non-brokered time deposits	25,193	(68,876)
Net decrease in brokered time deposits	(52,924)	(106,425)
Subordinated note repayments	0	(15,000)
Common stock dividends paid	(53,171)	0
Warrants exercised	337	9,445
Cash used in financing activities	(101,664)	(174,671)
Net decrease in cash and due from banks	(54,258)	(44,793)
Cash and due from banks at beginning of period	115,949	175,992
Cash and due from banks at end of period	61,691	131,199
Supplemental Schedule of Cash Flow Information
Interest	25,161	33,155
Income taxes	1,685	2,160
Non-cash investing and financing activities:
Loans held for investment transferred to other real estate owned	41	0
Loans held for investment transferred to other non-real estate owned	0	222
Unrealized (loss) gains on securities available for sale	(1,135)	5,182
Restricted stock award grants and related compensation expense	612	2,501
Restricted stock award forfeitures and cancellations	$ (377)	$ (103)