Blue Ridge Bnksh Stock Price, News & Analysis

Blue Ridge Bankshares (NYSE:BRBS) reported Q3 2025 net income $5.6M ($0.06/diluted share) versus $1.3M in Q2 2025 and $0.9M in Q3 2024.

Year-to-date net income was $6.5M vs. a $13.4M loss YTD 2024. Net interest income was $21.9M and net interest margin rose to 3.60% from 3.15% in Q2. The company repurchased 659,949 shares ($2.8M) under an up to $15M buyback. Tangible common equity ratio improved to 14.2% and key capital ratios strengthened. Loans and deposits declined (~$66M and $59M respectively); nonperforming loans increased to $28.6M (1.14% of assets). Q3 results included $3.0M of one-time loan fee income.

Blue Ridge Bankshares (BRBS) has announced a significant share repurchase program authorizing the buyback of up to $15 million of its outstanding common stock. The program allows for repurchases through various methods including open market purchases, block trades, and privately negotiated transactions.

The company will conduct open market purchases in compliance with SEC Rule 10b-18 and may implement trading plans under Rule 10b5-1. All repurchased shares will be cancelled and return to authorized but unissued status. The timing and execution of the program will depend on various factors including price, market conditions, and alternative investment opportunities.

Blue Ridge Bankshares (NYSE American: BRBS) reported Q2 2025 net income of $1.3 million, or $0.01 per diluted share, compared to a net loss of $0.4 million in Q1 2025. Key highlights include improved net interest margin of 3.15%, driven by lower deposit costs, and significant expense reductions with headcount decreased by 109 in H1 2025.

The Bank's capital position strengthened with tier 1 leverage ratio at 12.89% and total risk-based capital ratio at 18.91%, exceeding regulatory requirements. Total assets decreased to $2.56 billion, while sources of liquidity totaled $750.0 million, representing 183.3% of uninsured deposits. The company completed the redemption of its $15.0 million subordinated note and announced a partial redemption of $10.0 million of its 2029 Notes.

Blue Ridge Bankshares (NYSE: BRBS) reported Q1 2025 financial results, showing a net loss of $0.4 million ($0.01 per diluted share), an improvement from Q4 2024's loss of $2.0 million. The quarter included $0.5 million in after-tax severance costs and a $0.2 million loss from the sale of Monarch Mortgage division.

Key highlights include:

• Net interest margin improved to 2.90% from 2.80% in Q4 2024
• Employee headcount reduced by 91 (21% decrease), expected to save $6 million annually
• Capital ratios strengthened with tier 1 leverage ratio at 12.33% and total risk-based capital ratio at 17.93%
• Total assets decreased to $2.69 billion, with deposits at $2.13 billion
• Nonperforming loans at 0.93% of total assets

The company completed regulatory remediation efforts and received approval to redeem subordinated debt, which will save over $2 million in annual interest expense. Management expects return to sustainable profitability as they refocus on community banking.

Blue Ridge Bankshares (NYSE American: BRBS) has announced plans to exit its mortgage banking division through a definitive asset purchase and sale agreement to sell Monarch Mortgage assets to an unidentified third-party mortgage company. The transaction is expected to close by the end of Q1 2025.

Monarch Mortgage, which specializes in residential mortgage loan origination and processing for secondary market sale, will continue managing existing loan applications through closing. CEO G. William Beale explained this strategic move as part of the company's effort to refocus on community banking within their primary geographical footprint, noting that the current interest rate environment would require additional investment to scale the mortgage division for meaningful profitability.

Blue Ridge Bankshares (NYSE American: BRBS) reported financial results for Q4 and full-year 2024. The company recorded a Q4 net loss of $2.0 million ($0.03 per diluted share), compared to net income of $0.9 million in Q3 2024 and a net loss of $5.8 million in Q4 2023.

Key developments include:

• Complete exit from banking-as-a-service (BaaS) depository operations, reducing fintech deposits by $445 million
• Reduction in wholesale funding by $113 million
• Growth in primary footprint deposits by $172 million
• 14% reduction in workforce (71 fewer employees) compared to 2023
• Improvement in nonperforming loans to 0.93% of total assets
• Maintained strong capital ratios with tier 1 leverage ratio at 12.43% and total risk-based capital ratio at 19.79%

The company is focusing on three main areas: regulatory remediation, operational efficiency improvement, and positioning for future growth as a community-focused banking institution.

Blue Ridge Bankshares (NYSE American: BRBS) reported Q3 2024 net income of $0.9 million ($0.01 per diluted share), compared to a net loss of $11.4 million in Q2 2024. The quarter included a $6.6 million after-tax recovery of credit losses. The company is exiting fintech banking-as-a-service operations, with fintech deposits reduced to 3% of total deposits from 18% year-over-year. Noninterest expense decreased by 10% from Q2 and 30% year-over-year. The bank's nonperforming loans improved to 1.09% of total assets, down from 1.40% in Q2. Net interest income was $19.1 million, with net interest margin at 2.74%.

Blue Ridge Bankshares (NYSE American: BRBS) reported a net loss of $11.4 million ($0.47 per diluted share) for Q2 2024, up from a $2.9 million loss in Q1 2024. The year-to-date net loss stands at $14.3 million ($0.66 per share). A key factor was a $6.7 million after-tax negative fair value adjustment on a fintech equity investment. The company completed a $161.6 million capital raise to fund strategic initiatives and regulatory capital requirements.

Blue Ridge is winding down its fintech depository operations, with fintech deposits decreasing to 7% of total deposits. The bank saw reductions in nonperforming loans, improved regulatory expenses, and stable core deposits. The capital raise led to enhanced capital ratios, exceeding regulatory minimums. However, asset quality issues persisted with a $10.6 million net loan charge-off. Net interest income declined slightly to $20.1 million, and noninterest income dropped substantially due to fair value adjustments.

Blue Ridge Bankshares, Inc. announced its 2024 first-quarter results, showcasing a net loss of $2.9 million compared to previous quarters. The company completed a $150 million capital raise post-quarter-end to support its business transformation, solidified compliance and risk management functions, and made progress on regulatory remediation efforts. The leadership team filled key positions to strengthen risk management and compliance, developed a strategic growth plan, and reinforced its capital position through a private placement. The company aims for incremental operating improvement in 2024 despite being a transitional year.