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Subsequent Events | 6 Months Ended
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Jun. 30, 2020
Subsequent Events [Abstract] |
Subsequent Events | Note 17 – Subsequent Events On July 6, 2020, the Company declared a quarterly dividend of $0.1425 per share payable on July 31, 2020 to shareholders of record as of July 24, 2020. Note 17 – Subsequent Events, continued On August 13, 2020, the Company announced the signing of a definitive merger agreement with Bay Banks of Virginia, Inc. (“Bay Banks”), pursuant to which the companies will combine in an all-stock merger with the Company as the surviving company. At or immediately following consummation of the merger, Virginia Commonwealth Bank, the wholly-owned commercial banking subsidiary of Bay Bank, will be merged with and into the [Bank], with the Bank as the surviving bank. Under the terms of the merger agreement, Bay Banks shareholders will receive 0.5000 shares of Company stock for each share of Bay Banks common stock they own. Bay Banks shareholders will own approximately 54% and the Blue Ridge shareholders will own approximately 46% of the combined company. The combined company and bank will operate under the Blue Ridge name and will trade under the ticker symbol “BRBS” on the NYSE American stock exchange. Additional information on the merger can be found in Blue Ridge’s 8-K filed on August 13, 2020.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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