XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest and fees on loans $ 12,443,000 $ 6,599,000 $ 21,987,000 $ 12,713,000
Interest on taxable securities 683,000 977,000 1,513,000 1,468,000
Interest on nontaxable securities 40,000 62,000 89,000 127,000
Interest on federal funds sold 1,000 3,000 1,000 4,000
Total interest income 13,167,000 7,641,000 23,590,000 14,312,000
Interest expense:        
Interest on deposits 1,650,000 1,542,000 3,375,000 2,728,000
Interest on subordinated debentures 266,000 177,000 443,000 354,000
Interest on other borrowings 606,000 719,000 1,104,000 1,179,000
Total interest expense 2,522,000 2,438,000 4,922,000 4,261,000
Net interest income 10,645,000 5,203,000 18,668,000 10,051,000
Provision for loan losses 3,500,000 600,000 4,075,000 895,000
Net interest income after provision for loan losses 7,145,000 4,603,000 14,593,000 9,156,000
Non-interest income:        
Service charges on deposit accounts 183,000 153,000 454,000 288,000
Mortgage brokerage income 4,210,000 738,000 5,030,000 1,863,000
Gain on sale of mortgages 9,498,000 3,194,000 12,539,000 5,161,000
Mortgage servicing income 1,596,000   1,596,000  
Income from investment in life insurance contracts 92,000 760,000 185,000 815,000
Other income 946,000 538,000 1,718,000 1,155,000
Total other income 16,525,000 5,383,000 21,522,000 9,282,000
Non-interest expenses:        
Salaries and employee benefits 10,920,000 4,824,000 18,261,000 9,070,000
Occupancy and equipment 875,000 639,000 1,732,000 1,241,000
Data processing fees 658,000 306,000 1,125,000 656,000
Legal, issuer, and regulatory filing fees 339,000 589,000 537,000 635,000
Advertising fees 129,000 220,000 353,000 415,000
Communications 187,000 101,000 322,000 212,000
Debit card 171,000 78,000 328,000 160,000
Audit and accounting fees 149,000 52,000 192,000 88,000
FDIC insurance 230,000 95,000 381,000 170,000
Other contractual services 179,000 105,000 354,000 180,000
Other taxes and assessments 245,000 258,000 469,000 319,000
Other operating 1,726,000 896,000 3,090,000 1,865,000
Total other expenses 15,808,000 8,163,000 27,144,000 15,011,000
Income before income tax 7,862,000 1,823,000 8,971,000 3,427,000
Income tax expense 1,644,000 288,000 1,912,000 610,000
Net income 6,218,000 1,535,000 7,059,000 2,817,000
Net (Income) loss attributable to noncontrolling interest 4,000 (5,000) (5,000) (18,000)
Net Income attributable to Blue Ridge Bankshares, Inc. 6,222,000 1,530,000 7,054,000 2,799,000
Net Income available to Common Stockholders $ 6,222,000 $ 1,530,000 $ 7,054,000 $ 2,799,000
Basic earnings per common share $ 1.10 $ 0.35 $ 1.25 $ 0.73
Diluted earnings per common share $ 1.10 $ 0.35 $ 1.25 $ 0.73