Blue Ridge Bnksh Stock Price, News & Analysis

Blue Ridge Bankshares and FVCBankcorp have provided an update on their all-stock merger initially announced on July 14, 2021. The merger aims to create a $5.0 billion franchise in Virginia, pending regulatory approvals and shareholder consent. However, the Office of the Comptroller of the Currency has raised some regulatory concerns regarding Blue Ridge Bank. Both companies are committed to resolving these issues and expect the merger to be completed in the second or third quarter of 2022. The transaction is viewed as strategically beneficial by both parties.

On October 18, 2021, Blue Ridge Bank, N.A. announced a 13.3% increase in its minimum pay rate from $15 to $17 per hour, effective October 1, 2021. This new rate significantly surpasses Virginia's minimum wage of $9.50 and the federal minimum of $7.25. The bank also issued employee bonuses between $2,000 and $5,000 for team members earning less than $100,000 annually, recognizing their efforts during the pandemic. Blue Ridge Bank was recently named one of America's Best Small Banks by Newsweek and received a 5-star rating from Bauer Financial.

Blue Ridge Bankshares, Inc. (NYSE: BRBS) has been recognized by Piper Sandler as part of the 2021 Bank & Thrift Sm-All Stars, showcasing its status among the top 35 small-cap banks in the U.S. with market caps below $2.5 billion. The selection highlights the Company's superior performance metrics in growth, profitability, credit quality, and capital strength, eliminating 91% of potential candidates. This honor adds to Blue Ridge Bank's accolades, including being named the "Best Small Bank in Virginia" by Newsweek and receiving a 5-star rating from Bauer Financial.

Blue Ridge Bank, N.A. (NYSE American: BRBS) has installed its first electric vehicle (EV) charging station at its branch located at 11450 Robious Road, North Chesterfield, Virginia. This initiative is part of the bank's commitment to support local communities and enhance sustainability. In partnership with ChargePoint, the station will be free for users, promoting EV adoption in Virginia. A ribbon-cutting ceremony is scheduled for September 28, 2021, to celebrate the launch and the bank's focus on clean energy.

Blue Ridge Bank, N.A. (NYSE American: BRBS) announced a partnership with Mos, a fintech company focused on aiding students in navigating financial aid applications. This collaboration aims to reduce student debt and enhance financial literacy. Mos will integrate debit card services and a banking app into its offerings, expanding its capabilities with support from embedded finance leader Unit. Both companies express optimism about improving financial access and outcomes for students through this technological advancement.

Blue Ridge Bankshares (NYSE: BRBS) reported significant financial growth for the second quarter of 2021, achieving net income of $28.6 million or $1.54 per diluted share, markedly up from $4.2 million in Q1 2021 and $6.2 million in Q2 2020. Year-to-date net income reached $32.9 million, a substantial increase from $7.1 million in the first half of 2020. The strong performance was aided by a $19.2 million after-tax gain from the sale of PPP loans worth over $700 million. The company also announced a merger with FVCBankcorp, anticipated to close in late 2021 or early 2022.

Blue Ridge Bankshares and FVCBankcorp announced a definitive all-stock merger agreement, aiming to create the 4th largest Virginia-headquartered community bank. This merger enhances growth potential and profitability while introducing new revenue streams through various business lines. FVCB shareholders will receive 1.1492 shares of Blue Ridge for each share held. The merged entity will be headquartered in Fairfax, Virginia, with an expected closing in Q4 2021 or Q1 2022. The transaction targets significant earnings per share accretion and boasts strong capital ratios.

Blue Ridge Bankshares and FVCBankcorp announced a merger agreement, forming Virginia's 4th largest community bank by assets. This all-stock merger aims to enhance growth, profitability, and shareholder value through increased fee income and product lines. FVCB shareholders will receive 1.1492 shares of Blue Ridge common stock for each share held, resulting in approximately 47.5% ownership for FVCB and 52.5% for Blue Ridge. The merger is projected to close in Q4 2021 to early Q1 2022, pending approvals. The combined firm plans to target top-tier profitability, with an estimated 2022 ROAA of 1.4% and EPS accretion of 16%+ for Blue Ridge.