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v3.20.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Summary of Segment Reporting Information by Segment | The following tables present revenues and expenses by segment for the three and six months ended June 30, 2020 and June 30, 2019.
| Three Months Ended June 30, 2020 |
(in thousands) | Blue Ridge Bank |  |  | Blue Ridge Bank Mortgage Division |  |  | MoneyWise Payroll Solutions, Inc. |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 12,433 |  |  | $ | 733 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 13,167 |
Service charges on deposit accounts |  | 183 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 183 |
Mortgage banking income, net |  | — |  |  |  | 15,304 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,304 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 212 |  |  |  | — |  |  |  | — |  |  |  | 212 |
Other operating income |  | 832 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | 826 |
Total income |  | 13,448 |  |  |  | 16,037 |  |  |  | 212 |  |  |  | 1 |  |  |  | (6 | ) |  |  | 29,692 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 2,187 |  |  |  | 69 |  |  |  | — |  |  |  | 266 |  |  |  | — |  |  |  | 2,522 |
Provision for loan losses |  | 3,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,500 |
Salary and benefits |  | 2,955 |  |  |  | 7,858 |  |  |  | 107 |  |  |  | — |  |  |  | — |  |  |  | 10,920 |
Other operating expenses |  | 3,088 |  |  |  | 1,676 |  |  |  | 130 |  |  |  | — |  |  |  | (6 | ) |  |  | 4,888 |
Total expense |  | 11,730 |  |  |  | 9,603 |  |  |  | 237 |  |  |  | 266 |  |  |  | (6 | ) |  |  | 21,830 |
Income (loss) before income taxes |  | 1,718 |  |  |  | 6,434 |  |  |  | (25 | ) |  |  | (265 | ) |  |  | — |  |  |  | 7,862 |
Income tax expense (benefit) |  | 516 |  |  |  | 1,352 |  |  |  | (6 | ) |  |  | (218 | ) |  |  | — |  |  |  | 1,644 |
Net income (loss) | $ | 1,202 |  |  | $ | 5,082 |  |  | $ | (19 | ) |  | $ | (47 | ) |  | $ | — |  |  | $ | 6,218 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |
Net income (loss) attributable to Blue Ridge Bankshares | $ | 1,202 |  |  | $ | 5,082 |  |  | $ | (15 | ) |  | $ | (47 | ) |  | $ | — |  |  | $ | 6,222 |
Note 12 – Business Segments, continued
| Six Months Ended June 30, 2020 |
(in thousands) | Blue Ridge Bank |  |  | Blue Ridge Bank Mortgage Division |  |  | MoneyWise Payroll Solutions, Inc. |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 22,490 |  |  | $ | 1,095 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | 23,590 |
Service charges on deposit accounts |  | 454 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 454 |
Mortgage banking income, net |  | — |  |  |  | 19,165 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,165 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 515 |  |  |  | — |  |  |  | — |  |  |  | 515 |
Other operating income |  | 1,400 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12 | ) |  |  | 1,388 |
Total income |  | 24,344 |  |  |  | 20,260 |  |  |  | 515 |  |  |  | 5 |  |  |  | (12 | ) |  |  | 45,112 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 4,308 |  |  |  | 171 |  |  |  | — |  |  |  | 443 |  |  |  | — |  |  |  | 4,922 |
Provision for loan losses |  | 4,075 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,075 |
Salary and benefits |  | 6,275 |  |  |  | 11,766 |  |  |  | 220 |  |  |  | — |  |  |  | — |  |  |  | 18,261 |
Other operating expenses |  | 5,399 |  |  |  | 2,781 |  |  |  | 260 |  |  |  | 455 |  |  |  | (12 | ) |  |  | 8,883 |
Total expense |  | 20,057 |  |  |  | 14,718 |  |  |  | 480 |  |  |  | 898 |  |  |  | (12 | ) |  |  | 36,141 |
Income (loss) before income taxes |  | 4,287 |  |  |  | 5,542 |  |  |  | 35 |  |  |  | (893 | ) |  |  | — |  |  |  | 8,971 |
Income tax expense (benefit) |  | 916 |  |  |  | 1,164 |  |  |  | 7 |  |  |  | (175 | ) |  |  | — |  |  |  | 1,912 |
Net income (loss) | $ | 3,371 |  |  | $ | 4,378 |  |  | $ | 28 |  |  | $ | (718 | ) |  | $ | — |  |  | $ | 7,059 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | (5 | ) |  | $ | — |  |  | $ | — |  |  | $ | (5 | )
Net income (loss) attributable to Blue Ridge Bankshares, Inc. | $ | 3,371 |  |  | $ | 4,378 |  |  | $ | 23 |  |  | $ | (718 | ) |  | $ | — |  |  | $ | 7,054 |
| Six Months Ended June 30, 2019 |
(in thousands) | Blue Ridge Bank |  |  | Blue Ridge Bank Mortgage Division |  |  | MoneyWise Payroll Solutions, Inc. |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 13,825 |  |  | $ | 485 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 14,312 |
Service charges on deposit accounts |  | 288 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 288 |
Mortgage banking income, net |  | — |  |  |  | 7,024 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,024 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 511 |  |  |  | — |  |  |  | — |  |  |  | 511 |
Other operating income |  | 1,446 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | (12 | ) |  |  | 1,459 |
Total income |  | 15,559 |  |  |  | 7,509 |  |  |  | 511 |  |  |  | 27 |  |  |  | (12 | ) |  |  | 23,594 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 3,632 |  |  |  | 275 |  |  |  | — |  |  |  | 354 |  |  |  | — |  |  |  | 4,261 |
Provision for loan losses |  | 895 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 895 |
Salary and benefits |  | 4,041 |  |  |  | 4,853 |  |  |  | 176 |  |  |  | — |  |  |  | — |  |  |  | 9,070 |
Other operating expenses |  | 3,410 |  |  |  | 1,742 |  |  |  | 225 |  |  |  | 576 |  |  |  | (12 | ) |  |  | 5,941 |
Total expense |  | 11,978 |  |  |  | 6,870 |  |  |  | 401 |  |  |  | 930 |  |  |  | (12 | ) |  |  | 20,167 |
Income (loss) before income taxes |  | 3,581 |  |  |  | 639 |  |  |  | 110 |  |  |  | (903 | ) |  |  | — |  |  |  | 3,427 |
Income tax expense (benefit) |  | 588 |  |  |  | 113 |  |  |  | 23 |  |  |  | (114 | ) |  |  | — |  |  |  | 610 |
Net income (loss) | $ | 2,993 |  |  | $ | 526 |  |  | $ | 87 |  |  | $ | (789 | ) |  | $ | — |  |  | $ | 2,817 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | (18 | ) |  | $ | — |  |  | $ | — |  |  | $ | (18 | )
Net income (loss) attributable to Blue Ridge Bankshares, Inc. | $ | 2,993 |  |  | $ | 526 |  |  | $ | 69 |  |  | $ | (789 | ) |  | $ | — |  |  | $ | 2,799 |

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