Blue Ridge Bankshares, Inc. Announces Termination of Consent Order

Core Viewpoint - Blue Ridge Bankshares, Inc. has been released from a regulatory Consent Order, which is expected to enhance its growth and operational flexibility in key markets [1][2]. Group 1: Regulatory Update - The Office of the Comptroller of the Currency has terminated the Consent Order that was in place since January 24, 2024, indicating improved compliance and operational standards at Blue Ridge Bank [1]. - The release from the Consent Order occurred in less than 23 months, reflecting the hard work and expertise of the company's team [2]. Group 2: Business Strategy - Following the termination of the Consent Order, the company is focusing on community banking, aiming to improve customer experience and attract new loans and deposits [2]. - The increased flexibility from the release is expected to support the company's growth and expansion strategies in its key markets [2]. Group 3: Company Overview - Blue Ridge Bankshares, Inc. serves as the holding company for Blue Ridge Bank and BRB Financial Group, Inc., offering a variety of financial services including retail and commercial banking, investment and wealth management, and trust administration [3].