Blue Ridge Bankshares (BRBS) CEO Beale retires; Golliday named interim chief

Rhea-AI Filing Summary

Blue Ridge Bankshares, Inc. announced that G. William “Billy” Beale retired as President and Chief Executive Officer of the Company and Chief Executive Officer of Blue Ridge Bank, effective March 6, 2026. Under a Retirement Agreement, he will receive his 2025 bonus, vesting of 18,542 previously granted restricted shares, a lump sum of $180,478.13, and monthly cash payments of $84,004.13 for 12 months, in exchange for customary release, non‑disparagement and restrictive covenants.

The boards appointed Harry Golliday, previously Executive Vice President and Chief Credit Officer, as Interim Chief Executive Officer and Interim President of the Company and Interim Chief Executive Officer of the Bank, effective March 6, 2026. His existing employment agreement provides defined severance and change‑in‑control protections and includes non‑competition and non‑solicitation terms. The press release highlights that during Mr. Beale’s tenure the Bank exited an OCC Consent Order in November 2025 and returned to profitability as a community‑focused bank.

Insights

Banking sector governance analyst

Planned CEO retirement with interim successor; governance appears orderly.

Blue Ridge Bankshares is managing a leadership transition as CEO G. William Beale retires after overseeing the exit from an OCC Consent Order and a return to profitability. His compensation package combines cash, vested equity and standard legal protections for the company.

The appointment of Chief Credit Officer Harry Golliday as Interim CEO and President consolidates leadership in an executive already familiar with the loan portfolio and risk profile. His employment agreement lays out detailed severance and change‑in‑control terms, plus non‑compete and non‑solicitation covenants, which can support continuity and retention.

From an investor perspective, this filing centers on succession planning and executive contract economics rather than new financial results. The prior termination of the Consent Order in November 2025 and the stated return to profitability frame the transition as occurring after a key regulatory milestone, suggesting a move from turnaround leadership toward a more normalized phase.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 06, 2026

BLUE RIDGE BANKSHARES, INC.

(Exact name of Registrant as Specified in Its Charter)

Virginia			001-39165	54-1838100
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
1801 Bayberry Court Suite 101
Richmond, Virginia				23226
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (888) 331-6521

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, no par value		BRBS		NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Chief Executive Officer Separation

The board of directors of Blue Ridge Bankshares, Inc. (the “Company”) and G. William (“Billy”) Beale agreed that Mr. Beale will step down as President and Chief Executive Officer of the Company and Chief Executive Officer of Blue Ridge Bank, National Association (the “Bank”), effective March 6, 2026. In connection with Mr. Beale’s retirement, the Company, the Bank, and Mr. Beale have entered into a Retirement Agreement, dated as of March 12, 2026 (the “Retirement Agreement”). Under the terms of the Retirement Agreement, Mr. Beale will receive his 2025 bonus under the Company’s 2025 Short-Term Incentive Plan payable within thirty days of the date of the Retirement Agreement and will be vested in 18,542 shares previously awarded to Mr. Beale in a restricted stock grant made in 2023. In addition, Mr. Beale will also receive (i) a lump sum payment of an amount equal to $180,478.13 and (ii) monthly cash payments in the amount of $84,004.13 for a period of twelve months following the date of the Retirement Agreement, payable in accordance with the Bank’s normal payroll periods.

Under the Retirement Agreement, Mr. Beale agreed to release any claims he may have against the Company and/or the Bank, reaffirmed the restrictive covenants set forth in Section 5 of Mr. Beale’s Amended and Restated Employment Agreement, and agreed not to disparage the Company, the Bank, or their respective directors, employees, customers and other associated third parties. The Company and the Bank each agreed not to disparage Mr. Beale or any associated third parties.

In connection with his retirement, on March 6, 2026, Mr. Beale resigned from the boards of directors of the Company and the Bank, and from all officer, director and fiduciary positions with the Company and the Bank.

The foregoing descriptions of the terms and conditions of the Retirement Agreement do not purport to be complete and are qualified in their entirety by reference to the text of the Retirement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report and incorporated by reference herein.

Appointment of Interim Chief Executive Officer

On March 6, 2026, the respective boards of directors of the Company and the Bank appointed Harry Golliday, the current Executive Vice President and Chief Credit Officer of the Bank, as Interim Chief Executive Officer and Interim President of the Company and Interim Chief Executive Officer of the Bank, each effective March 6, 2026. Mr. Golliday (62) has served as Chief Credit Officer of the Bank since January 2024. Prior to joining the Bank, Mr. Golliday served as a Corporate SVP & Senior Credit Officer for CapitalOne Bank, for whom he worked for 14 years. Prior to Capital One, he spent 18 years with SunTrust Bank, and six years with Wachovia Bank in commercial banking roles. There are no arrangements or understandings between Mr. Golliday and any other person pursuant to which Mr. Golliday was appointed as Interim Chief Executive Officer, and there are no family relationships among any of the Company’s directors or executive officers and Mr. Golliday.

Mr. Golliday is party to an employment agreement with the Bank, dated May 3, 2024, under which Mr. Golliday is employed as Chief Credit Officer of the Bank. The employment agreement is currently through May 3, 2026, provided that on May 3, 2026 and each May 3rd thereafter, the terms of the agreement will automatically be extended for an additional one-year period unless either party gives written notice of nonrenewal at least 90 days before the end of the then-current term. No such notice of nonrenewal has been provided, so the agreement will automatically renew through May 3, 2027. Pursuant to the agreement, Mr. Golliday is entitled to a minimum base salary of $325,000 per year. Mr. Golliday has the opportunity to earn annual cash bonus payments of up to 30% of his base salary and an annual long-term incentive award of up to 30% of his base salary.

Pursuant to the employment agreement, in the event Mr. Golliday is terminated for “cause” (as such term is defined in the agreement), he will generally be entitled to receive compensation and benefits only through the date of termination. The agreement provides for additional compensation and benefits in the event Mr. Golliday’s employment is terminated by the Company without cause or by him for “good reason” (as such term is defined in the agreement). In such cases, Mr. Golliday will be entitled to receive each month for the greater of (x) 12 months or (y) the number of months remaining in the term of the agreement at the time of his termination (i) the monthly portion of his current annual base salary, (ii) an amount equal to 1/12 of the highest annual bonus paid or payable, including by reason of any deferral, for the two years immediately preceding the year in which his employment terminates, and (iii) a welfare continuance benefit. The agreement provides for alternative compensation and benefits in the event Mr. Golliday’s employment is terminated by the Company without cause or by him for good reason within one year after a “change in control” (as such term is defined in the agreement) of the Company. In such cases, Mr. Golliday will be entitled to receive (i) any unpaid base salary through the date of termination, (ii) a welfare continuance benefit, and (iii) a lump sum cash payment equal to two times an amount equal to (A) his annual base salary as of the date of termination or, if greater, the highest annual base salary in effect in the three months immediately prior to the date of the change in control, and (B) highest annual bonus paid or payable, including by reason of any deferral, for the two years immediately preceding the year in which his employment terminates. Mr. Golliday’s entitlement to the foregoing severance payments is subject to his execution of a release and waiver of claims against the Company and his compliance with the restrictive covenants provided in the employment agreement. The agreement also provides that the compensation

and benefits to which Mr. Golliday may be entitled in connection with a termination following a change in control will be reduced to the amount that does not trigger the excise tax under Section 4999 of the Internal Revenue Code of 1986. No reduction, however, will be made, and Mr. Golliday will be responsible for all excise and other taxes if his after-tax position with no cutback exceeds his after-tax position with a cutback.

The employment agreement contains restrictive covenants relating to the protection of confidential information, non-disclosure, non-competition and non-solicitation. The non-competition and non-solicitation covenants generally continue for a period of 12 months following the termination of Mr. Golliday’s employment for any reason, provided that in the event he is terminated for cause, the non-competition covenant is operative only if the Company agrees to continue to pay his base salary during such non-competition period.

Item 7.01 Regulation FD Disclosure

On March 12, 2026, the Company issued a press release regarding the Chief Executive Officer transition described in this Current Report on Form 8-K. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

	Exhibit No.		Description
	10.1		Retirement Agreement, dated March 12, 2026, between Blue Ridge Bankshares, Inc., Blue Ridge Bank, National Association, and G. William Beale.
	99.1		Press Release, dated March 12, 2026.
	104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BLUE RIDGE BANKSHARES, INC.
Date:	March 12, 2026	By:	/s/ Judy C. Gavant
			Judy C. Gavant Executive Vice President and Chief Financial Officer

Exhibit 99.1

Blue Ridge Bankshares, Inc. Announces Executive Transition

RICHMOND, VA, March 12, 2026 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the “Company”) (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association (“Blue Ridge Bank” or the “Bank”) today announced the retirement of G. William Beale from the Company and the Bank, effective March 6, 2026.

Mr. Beale joined the Bank as CEO on May 7, 2023, and was appointed President and CEO of the Company effective July 12, 2023. During his tenure the Bank successfully exited the OCC Consent Order related to prior business activities, returning it to a profitable community bank focused on the communities it serves.

On his retirement, Mr. Beale noted, “I was hired out of retirement to do a job, and that job is now done. I’m proud of all we have accomplished during my time at the Bank, but I turned 76 last December, and it is time for me to return to retired life.”

Chairman of the Board, Vance H. Spilman, commented, “the Board of Directors wants to thank Mr. Beale for the exemplary job he has done on behalf of employees, shareholders and customers, most notably overseeing the Bank’s exit from the OCC Consent Order and our return to profitability.”

The respective Boards of Directors have appointed Harry Golliday, Executive Vice President and Chief Credit Officer, as Interim Chief Executive Officer and President of the Company, and Interim Chief Executive Officer of the Bank. Mr. Golliday will continue to pursue the growth, capital management and strategic opportunities available to the Bank following the termination of its Consent Order in November 2025.

Mr. Golliday has over four decades of experience in the financial services industry, including serving as the Company’s Chief Credit Officer since January 2024. Prior to joining the Company, Mr. Golliday served in leadership roles with CapitalOne Bank and SunTrust, after starting his career as a corporate banker with Wachovia.

“Since I joined Blue Ridge Bank in 2024,” Mr. Golliday noted, “the Bank has undergone a significant change that has materially strengthened our financial condition, asset quality and business mix. I look forward to working with the Company’s Board of Directors and executive team to achieve our strategic and financial goals, as the bank of choice in the communities we serve.”

About Blue Ridge Bankshares, Inc.:

Blue Ridge Bankshares, Inc. is the holding company for Blue Ridge Bank and BRB Financial Group, Inc. The Company, through its subsidiaries and affiliates, provides a wide range of financial services including retail and commercial banking. The Company also provides investment and wealth management services and management services for personal and corporate trusts, including estate planning and trust administration. Visit www.mybrb.com for more information.

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or

words or phrases of similar meaning. The Company cautions that the forward-looking statements are based largely on its expectations and are subject to several known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic and current reports filed with the SEC. Readers are cautioned against placing undue reliance on any such forward-looking statements.

FAQ

What executive change did Blue Ridge Bankshares (BRBS) announce in this 8-K?

Blue Ridge Bankshares announced the retirement of G. William “Billy” Beale as President and CEO of the Company and CEO of Blue Ridge Bank, effective March 6, 2026. Executive Vice President and Chief Credit Officer Harry Golliday was appointed Interim CEO and Interim President for both the Company and the Bank.

What are the key financial terms of G. William Beale’s retirement from BRBS?

Under his Retirement Agreement, Mr. Beale receives his 2025 bonus, vesting of 18,542 restricted shares, a lump sum of $180,478.13, and monthly cash payments of $84,004.13 for 12 months. In return, he provides a release of claims, reaffirms covenants, and agrees to non‑disparagement.

Who is Harry Golliday, the new Interim CEO of Blue Ridge Bankshares (BRBS)?

Harry Golliday is the Company’s Executive Vice President and Chief Credit Officer, appointed Interim CEO and Interim President effective March 6, 2026. He has over four decades of banking experience, including leadership roles at Capital One, SunTrust and Wachovia, and has served as Chief Credit Officer since January 2024.

What does Harry Golliday’s employment agreement with Blue Ridge Bank include?

Mr. Golliday’s agreement provides a minimum $325,000 annual base salary, eligibility for annual cash bonuses and long‑term incentives up to 30% of salary each, defined severance if terminated without cause or for good reason, enhanced benefits after a change in control, and 12‑month non‑competition and non‑solicitation covenants.

How did Blue Ridge Bankshares describe recent regulatory and profitability milestones?

The Company stated that under Mr. Beale’s leadership, the Bank exited its OCC Consent Order in November 2025 and returned to operating as a profitable community bank. Management highlighted strengthened financial condition, asset quality and business mix achieved during this period as context for the leadership transition.

Does Blue Ridge Bankshares mention future strategic focus after the CEO transition?

Yes. The Company indicated that Interim CEO Harry Golliday will continue to pursue growth, capital management and strategic opportunities available following termination of the OCC Consent Order. He emphasized working with the Board and executive team to meet strategic and financial goals as a community-focused bank.

Filing Exhibits & Attachments

3 documents

Press Releases

• EX-99.1 EX-99.1 10.3 KB

Agreements & Contracts

• EX-10.1 EX-10.1 85.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 24.3 KB