Financial Performance - Net loss for the three months ended June 30, 2023, was $(19,464) thousand, a significant decline from a net income of $1,118 thousand for the same period in 2022[35]. - The company reported a comprehensive net loss of $(24,487) thousand for the three months ended June 30, 2023, compared to a comprehensive net loss of $(14,897) thousand for the same period in 2022[35]. - The company reported a net loss from continuing operations of $17,860,000 for the six months ended June 30, 2023, compared to a net income of $18,538,000 for the same period in 2022[40]. - The company reported a net loss of $19,464 thousand for the three months ended June 30, 2023, compared to a net income of $1,118 thousand for the same period in 2022[35]. - The net loss for the second quarter was $12,240,000, compared to a loss of $1,907,000 in the previous quarter[134]. Assets and Liabilities - Total assets increased to $3,214,424 thousand as of June 30, 2023, compared to $3,141,045 thousand at December 31, 2022, representing a growth of 2.33%[34]. - The total liabilities increased to $2,983,153 thousand as of June 30, 2023, from $2,881,672 thousand at December 31, 2022, an increase of 3.54%[34]. - The company’s cash and due from banks increased to $131,843 thousand as of June 30, 2023, compared to $77,274 thousand at December 31, 2022, a growth of 70.66%[34]. - Cash and due from banks at the end of the period increased to $131,843,000 from $75,192,000 year-over-year[40]. - Total financial assets included cash and due from banks amounting to $77,274 thousand[125]. Deposits and Loans - Total deposits rose to $2,613,094 thousand as of June 30, 2023, up from $2,502,507 thousand at December 31, 2022, marking an increase of 4.43%[34]. - Loans held for investment net of deferred fees and costs increased to $2,408,630 thousand as of June 30, 2023, compared to $2,376,153 thousand at December 31, 2022, reflecting a growth of 1.36%[34]. - Total loans amounted to $2,411.059 million, with $14.663 million past due[72]. - Total loans amounted to $2,363.2 million as of June 30, 2023, with nonaccrual loans totaling $83.7 million[91]. - The Company’s commercial and industrial current loans totaled $482.4 million as of June 30, 2023[91]. Credit Losses and Provisions - The allowance for credit losses increased to $(43,067) thousand as of June 30, 2023, compared to $(22,939) thousand at December 31, 2022, indicating a rise of 87.73%[34]. - Provision for credit losses on loans increased significantly to $25,200,000 from $9,994,000 year-over-year, indicating a heightened risk environment[40]. - The Company recorded an increase in its Allowance for Credit Losses (ACL) of $4.0 million due to the adoption of ASC 326, which reduced stockholders' equity by $2.6 million[53]. - The increase in ACL during the six months ended June 30, 2023, was primarily due to specific reserve needs of $14.1 million for specialty finance loans and $4.0 million from ASC 326 adoption[68]. - The total allowance for loan losses at the end of the period was $12,945,000, reflecting changes in expected cash flows[101]. Income and Expenses - Net interest income for the second quarter of 2023 was $48,440,000, a decrease of 1,089,000 compared to the previous quarter[134]. - Total noninterest income increased to $12,586,000, with significant contributions from residential mortgage banking income of $642,000 and gains on the sale of guaranteed government loans of $4,793,000[134]. - Total noninterest expense rose to $51,988,000, reflecting an increase of 7,823,000, primarily driven by salaries and employee benefits[134]. - The total noninterest expense for the first half of 2023 was $48,015,000, with salaries and employee benefits accounting for $29,969,000[134]. Stockholders' Equity - Stockholders' equity decreased to $231,271 thousand as of June 30, 2023, down from $259,373 thousand at December 31, 2022, a decline of 10.81%[34]. - Retained earnings decreased to $80,287 thousand as of June 30, 2023, down from $108,262 thousand at the end of 2022, representing a decline of approximately 25.9%[34]. - The company declared dividends on common stock amounting to $(4,552) thousand during the six months ended June 30, 2023[38]. Regulatory and Compliance - The company adopted ASC 326, which impacts the accounting for credit losses, effective January 1, 2023, with prior periods reported under previous GAAP[48]. - The company is actively working to enhance controls for assessing and managing risks associated with its fintech partnerships as per the Written Agreement with the OCC[44]. - The capital conservation buffer required under Basel III rules is 2.50% for adequately capitalized risk-based capital ratios[126]. - The bank's capital conservation buffer impacts activities such as dividend payments and share repurchases if dipped into[126]. Market and Future Outlook - The company anticipates continued focus on market expansion and new product development in the upcoming quarters[136]. - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[36].

FORM 10-Q Virginia 54-1838100 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 1807 Seminole Trail Charlottesville, Virginia 22901 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (540) 743-6521 Blue Ridge Bankshares, Inc. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Mergers and Acquisitions - The Company completed the merger with Bay Banks of Virginia, adding $1.22 billion in assets and $1.03 billion in deposits[6] - The acquisition of Virginia Community Bankshares, Inc. added approximately $242.5 million in assets and $219.2 million in liabilities[9] - The Company issued 6,627,558 shares of common stock during the Bay Banks Merger[6] - The Company made cash payments totaling $16.6 million to Virginia Community Bankshares shareholders during the acquisition[9] Financial Performance - The aggregate market value of voting stock held by non-affiliates was approximately $257.68 million as of June 30, 2022[19] - As of March 1, 2023, the Company had 18,946,466 shares of common stock outstanding[19] Environmental Initiatives - The Company has initiatives to achieve net-zero emissions by 2040, with intermediate targets set for 2030[17] - The Company joined the Net-Zero Banking Alliance, aiming for net-zero emissions by 2040 with intermediate targets by 2030[17] - The Company has installed electric vehicle charging stations at two branch locations as part of its environmental initiatives[17] - The Bank has installed electric vehicle charging stations at two branch locations and is exploring additional sites for accessibility[17] - The Company plans to eliminate single-use plastic items in its offices by the end of 2024, alongside enhancing internal recycling efforts[17] Banking Operations - As of December 31, 2022, the Bank operated twenty-seven full-service banking offices across Virginia and central North Carolina[5] - The Company ended 2022 with active partnerships with multiple fintech providers, enhancing customer reach and generating interest income[7] Consumer Services - The Company offers a range of consumer lending services, including automobile loans and home equity lines of credit[14]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |--------------------------------------------------------------------------------------------------------|------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, no par value BRBS NYSE American FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Common Stock, no par value BRBS NYSE American FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------------------|----------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-39165 BLUE RIDGE BANKSHARES, INC. (Exact Name of Registrant as Specified in its Charter) Virginia State or O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |--------------------------------------------------------------------------------|---------------------------------| | | | | | | | Commis ...

Financial Performance - Net income for the three months ended June 30, 2021, was $28.6 million, or $1.54 per diluted common share, compared to $6.2 million, or $0.73 per diluted common share, for the same period in 2020 [254]. - For the six months ended June 30, 2021, net income was $32.9 million, or $1.94 per diluted common share, compared to $7.1 million, or $0.83 per diluted common share, for the same period in 2020 [256]. - The Company reported a gain of $24.3 million from the sale of over $700 million of loans originated under the Paycheck Protection Program (PPP) in the first half of 2021 [256]. - Noninterest income surged by 122.74% to $36.4 million for the three months ended June 30, 2021, compared to $16.4 million for the same period in 2020 [278]. - Total noninterest expense increased by 95.37% to $30.5 million for the three months ended June 30, 2021, compared to $15.6 million for the same period in 2020 [281]. Assets and Deposits - Total assets increased to $2.76 billion as of June 30, 2021, up $1.27 billion from $1.50 billion at December 31, 2020, primarily due to the Bay Banks Merger [250]. - Total deposits reached $2.19 billion, an increase of $1.25 billion from December 31, 2020, with $1.03 billion assumed from the Bay Banks Merger [251]. - The Company completed the merger with Bay Banks on January 31, 2021, which significantly contributed to the increase in total assets and deposits [243]. - The Company acquired approximately $1.03 billion of loans as a result of the Bay Banks Merger [287]. - The investment securities portfolio's fair value increased to $261.3 million as of June 30, 2021, up from $109.5 million at December 31, 2020, reflecting a growth of 141% [306]. Loans and Loan Losses - The loan portfolio as of June 30, 2021, totaled $1.86 billion, a significant increase from $1.03 billion as of December 31, 2020 [287]. - The allowance for loan losses (ALL) was $13.0 million as of June 30, 2021, compared to $13.8 million at the end of 2020 [299]. - The Company recorded no provision for loan losses for the six months ended June 30, 2021, compared to $4.1 million for the same period in 2020 [274]. - The ratio of Allowance for Loan Losses (ALL) to total loans held for investment, excluding PPP loans, decreased to 0.75% as of June 30, 2021, from 1.89% at the end of 2020 [305]. - The Company approved over 550 loan deferrals totaling $110.6 million during 2020 due to COVID-19 [292]. Interest Income and Expenses - Net interest income for the three months ended June 30, 2021, was $30.5 million, with a net interest margin of 3.82%, compared to $10.7 million and 3.19% for the same period in 2020 [260]. - Total interest income rose by $20.7 million for the three-month period ended June 30, 2021, primarily due to higher average loan balances, including PPP loans [264]. - Interest expense rose by $828 thousand to $3.4 million for the three months ended June 30, 2021, compared to $2.5 million for the same period in 2020 [265]. - Cost of funds decreased to 0.43% for the second quarter of 2021 from 0.76% for the second quarter of 2020 [265]. - Net interest margin improved to 3.82% for the second quarter of 2021, up from 3.19% in the same quarter of 2020 [266]. Mergers and Acquisitions - The FVCB Merger is expected to close in Q4 2021 or Q1 2022, with FVCB having total assets of $1.98 billion as of June 30, 2021 [242]. - The Company acquired approximately $79.5 million of securities at fair value as part of the Bay Banks Merger [306]. - The Company utilized the PPPLF offered by the FRB starting in the second quarter of 2020 to fund PPP loans, contributing to the increase in interest-bearing liabilities [265]. - The Company has future commitments outstanding totaling $7.8 million related to investments in fintech businesses as of June 30, 2021 [340]. - The Company had approved commitments to extend credit totaling $298.4 million as of June 30, 2021, an increase from $126.0 million as of December 31, 2020 [337]. Capital and Liquidity - Total risk-based capital was $271.4 million as of June 30, 2021, representing a ratio of 13.92%, exceeding the adequately capitalized requirement of 10.50% [335]. - Tier 1 capital was $257.994 million as of June 30, 2021, with a ratio of 13.24%, above the minimum requirement of 8.50% [335]. - The Company has established a formal liquidity contingency plan to manage liquidity effectively and stress tests its liquidity position under various scenarios [326]. - The Company had unsecured federal fund lines available totaling $79.0 million as of June 30, 2021, compared to $38.0 million as of December 31, 2020 [326]. - The Company had a credit line available of $452.4 million with the FHLB as of June 30, 2021, with outstanding advances totaling $125.0 million and letters of credit totaling $59.0 million [328].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39165 BLUE RIDGE BANKSHARES, INC. (Exact name of registrant as specified in its charter) Virginia 54-1470908 ( State or other j ...