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Blue Ridge Bankshares Inc (VA) - BRBS STOCK NEWS

Welcome to our dedicated news page for Blue Ridge Bankshares (VA) (Ticker: BRBS), a resource for investors and traders seeking the latest updates and insights on Blue Ridge Bankshares (VA).

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Blue Ridge Bankshares (VA)'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Blue Ridge Bankshares (VA)'s position in the market.

News
Blue Ridge Bankshares, Inc. Announces the Signing, Closing and Funding of Amended and Restated Definitive Purchase Agreements for $150 Million in a Private Placement of Common and Preferred Stock
Rhea-AI Summary
Blue Ridge Bankshares, Inc. has closed a $150 million Private Placement to reposition business lines, support organic growth, and enhance capital levels. The capital will be used for strategic initiatives and to comply with regulatory requirements.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.25%
Tags
none
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News
Blue Ridge Bankshares, Inc. Announces Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Blue Ridge Bankshares, Inc. reported a net loss of $5.8 million for the fourth quarter of 2023, with a net loss of $51.8 million for the year. The Company announced commitments for a $150 million capital raise to support business transformation and growth. The OCC issued a consent order requiring a strategic plan and capital plan, and placing restrictions on fintech operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.6%
Tags
earnings
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News
Blue Ridge Bankshares, Inc. Announces the Signing of Definitive Purchase Agreements for $150 Million in a Private Placement
Rhea-AI Summary
Blue Ridge Bankshares, Inc. (BRBS) is issuing $150,000,000 of common stock to reposition business lines, support organic growth, and enhance capital levels. The Private Placement will issue 60 million new common shares at a price of $2.50 per share, and approximately 29.4 million warrants to purchase common stock of Blue Ridge. This will be led by private investor Kenneth R. Lehman and Castle Creek Capital Partners VIII L.P. The Private Placement will result in Mr. Lehman owning approximately 25% of Blue Ridge's pro forma outstanding common stock, and Castle Creek owning approximately 12.5%. Up to three new investor-appointed representatives are expected to join the Board of Directors of Blue Ridge and Blue Ridge Bank after the closing of the Private Placement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.82%
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none
News
Blue Ridge Bankshares, Inc. Announces Third Quarter 2023 Results
Rhea-AI Summary
Blue Ridge Bankshares, Inc. reported a net loss of $41.4 million for Q3 2023, including a $26.8 million non-cash goodwill impairment charge. The company achieved milestones in regulatory remediation efforts and restated prior period earnings. Nonperforming loans totaled $81.8 million, or 2.51% of total assets. The company suspended future dividend payments to preserve capital. Net interest income declined to $22.2 million, and noninterest income decreased to $7.4 million. Noninterest expense increased to $64.6 million. Loans held for investment remained flat at $2.45 billion, and total deposits increased to $2.78 billion. Fintech partnerships contributed $3.6 million in revenue.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-33.65%
Tags
earnings
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News
Blue Ridge Bank, N.A. Hires Dean Brown as Chief Operations and Technology Officer
Rhea-AI Summary
Dean Brown has been appointed as the Chief Operations and Technology Officer (COTO) for Blue Ridge Bank, N.A., a subsidiary of Blue Ridge Bankshares, Inc. Brown brings over 30 years of experience in building and managing enterprise-level information systems and operations. His previous roles include overseeing enterprise operations and information technology functions, helping to grow a regional bank from $6B to $20B over 7 years. In his new role, Brown will provide executive leadership to the information technology and bank operations functions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3%
Tags
management
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News
Blue Ridge Bankshares, Inc. Announces Second Quarter 2023 Results
Rhea-AI Summary
Blue Ridge Bankshares, Inc. reported a net loss of $19.5 million in Q2 2023, compared to net income of $1.6 million in Q1 2023. Nonperforming loans increased to $86.1 million, or 2.68% of total assets. The provision for credit losses was $20.5 million. The Bank's tier 1 leverage ratio was 7.86% and its net interest margin was 2.67%. Total deposits declined by $148.0 million. The Company sold its wholesale mortgage business for $250 thousand.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.67%
Tags
earnings
News
Blue Ridge Bankshares, Inc. Announces Appointment of G. William ("Billy") Beale as Chief Executive Officer of Blue Ridge Bank, N.A.
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.05%
Tags
management
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News
Blue Ridge Bankshares, Inc. Announces First Quarter 2023 Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.72%
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none
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News
Blue Ridge Bankshares, Inc. Announces Fourth Quarter and Full Year 2022 Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.86%
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none
News
Blue Ridge Bank Implements Sabbatical Leave Program and Increases Minimum Hourly Pay
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.42%
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none
Stock BRBS logo
Blue Ridge Bankshares Inc (VA)

NYSE:BRBS

BRBS Rankings

#4618 Ranked by Market Cap
#5254 Ranked by Stock Gains
N/A Ranked by Dividends

BRBS Stock Data

59.07M
11.03M
21.2%
52.56%
7.64%
Commercial Banking
Finance and Insurance
Link
United States
Charlottesville

About BRBS

founded in 1893, blue ridge bank is committed to our customers and our founding mission: "to provide a wide range of financial services with an emphasis on quality, ethics, and superb customer relations." blue ridge bank is extremely proud of its more than a century of customer based service, and looks forward to serving its current and new customers for many years to come, with the attention and service that only a locally owned independent community bank can provide. visit us mon through fri, 9-5, or at www.mybrb.com. blue ridge bank strives to provide intrinsic value in everything that we offer, including: kasasa cash® – get a whole lot more from your checking without paying for it: free checking, plus high interest, and nationwide atm fee refunds. kasasa saver® – save automatically with an account that does the work for you. free kasasa saver is linked to your equally-free kasasa cash checking account. every month, the rewards earned in your checking are automatically tra