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v3.20.2

Business Segments (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30, 2020 and September 30, 2019.
| Three Months Ended September 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 | $ | 13,495 |  |  | $ | 917 |  |  | $ | — |  |  | $ | 32 |  |  | $ | — |  |  | $ | 14,444 |
Service charges on deposit accounts |  | 215 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 215 |
Mortgage banking income, net |  | — |  |  |  | 16,044 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,044 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 221 |  |  |  | — |  |  |  | — |  |  |  | 221 |
Other operating income |  | 1,275 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | 1,269 |
Total income |  | 14,985 |  |  |  | 16,961 |  |  |  | 221 |  |  |  | 32 |  |  |  | (6 | ) |  |  | 32,193 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 2,132 |  |  |  | 72 |  |  |  | — |  |  |  | 411 |  |  |  | — |  |  |  | 2,615 |
Provision for loan losses |  | 4,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,000 |
Salary and benefits |  | 3,311 |  |  |  | 8,455 |  |  |  | 114 |  |  |  | — |  |  |  | — |  |  |  | 11,880 |
Other operating expenses |  | 3,370 |  |  |  | 2,133 |  |  |  | 133 |  |  |  | 1,302 |  |  |  | (6 | ) |  |  | 6,932 |
Total expense |  | 12,813 |  |  |  | 10,660 |  |  |  | 247 |  |  |  | 1,713 |  |  |  | (6 | ) |  |  | 25,427 |
Income (loss) before income taxes |  | 2,172 |  |  |  | 6,301 |  |  |  | (26 | ) |  |  | (1,681 | ) |  |  | — |  |  |  | 6,766 |
Income tax expense (benefit) |  | 528 |  |  |  | 1,276 |  |  |  | (5 | ) |  |  | (92 | ) |  |  | — |  |  |  | 1,707 |
Net income (loss) | $ | 1,644 |  |  | $ | 5,025 |  |  | $ | (21 | ) |  | $ | (1,589 | ) |  | $ | — |  |  | $ | 5,059 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |
Net income (loss) attributable to Blue Ridge Bankshares | $ | 1,644 |  |  | $ | 5,025 |  |  | $ | (17 | ) |  | $ | (1,589 | ) |  | $ | — |  |  | $ | 5,063 |
Note 12 – Business Segments, continued
| Nine Months Ended September 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 | $ | 35,985 |  |  | $ | 2,012 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |  | $ | 38,034 |
Service charges on deposit accounts |  | 669 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 669 |
Mortgage banking income, net |  | — |  |  |  | 35,210 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,210 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 736 |  |  |  | — |  |  |  | — |  |  |  | 736 |
Other operating income |  | 2,673 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (18 | ) |  |  | 2,655 |
Total income |  | 39,327 |  |  |  | 37,222 |  |  |  | 736 |  |  |  | 37 |  |  |  | (18 | ) |  |  | 77,304 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 6,440 |  |  |  | 243 |  |  |  | — |  |  |  | 854 |  |  |  | — |  |  |  | 7,537 |
Provision for loan losses |  | 8,075 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,075 |
Salary and benefits |  | 9,586 |  |  |  | 20,221 |  |  |  | 334 |  |  |  | — |  |  |  | — |  |  |  | 30,141 |
Other operating expenses |  | 8,771 |  |  |  | 4,914 |  |  |  | 393 |  |  |  | 1,757 |  |  |  | (18 | ) |  |  | 15,817 |
Total expense |  | 32,872 |  |  |  | 25,378 |  |  |  | 727 |  |  |  | 2,611 |  |  |  | (18 | ) |  |  | 61,570 |
Income (loss) before income taxes |  | 6,455 |  |  |  | 11,844 |  |  |  | 9 |  |  |  | (2,574 | ) |  |  | — |  |  |  | 15,734 |
Income tax expense (benefit) |  | 1,443 |  |  |  | 2,440 |  |  |  | 2 |  |  |  | (267 | ) |  |  | — |  |  |  | 3,618 |
Net income (loss) | $ | 5,012 |  |  | $ | 9,404 |  |  | $ | 7 |  |  | $ | (2,307 | ) |  | $ | — |  |  | $ | 12,116 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1 | )
Net income (loss) attributable to Blue Ridge Bankshares, Inc. | $ | 5,012 |  |  | $ | 9,404 |  |  | $ | 6 |  |  | $ | (2,307 | ) |  | $ | — |  |  | $ | 12,115 |
| Nine Months Ended September 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 | $ | 21,581 |  |  | $ | 845 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 22,430 |
Service charges on deposit accounts |  | 459 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 459 |
Mortgage banking income, net |  | — |  |  |  | 10,966 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,966 |
Payroll processing revenue |  | — |  |  |  | — |  |  |  | 743 |  |  |  | — |  |  |  | — |  |  |  | 743 |
Other operating income |  | 2,057 |  |  |  | — |  |  |  | — |  |  |  | 48 |  |  |  | (18 | ) |  |  | 2,087 |
Total income |  | 24,097 |  |  |  | 11,811 |  |  |  | 743 |  |  |  | 52 |  |  |  | (18 | ) |  |  | 36,685 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | 5,921 |  |  |  | 490 |  |  |  | — |  |  |  | 532 |  |  |  | — |  |  |  | 6,943 |
Provision for loan losses |  | 1,465 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,465 |
Salary and benefits |  | 6,167 |  |  |  | 7,711 |  |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 14,149 |
Other operating expenses |  | 5,194 |  |  |  | 2,697 |  |  |  | 344 |  |  |  | 851 |  |  |  | (18 | ) |  |  | 9,068 |
Total expense |  | 18,747 |  |  |  | 10,898 |  |  |  | 615 |  |  |  | 1,383 |  |  |  | (18 | ) |  |  | 31,625 |
Income (loss) before income taxes |  | 5,350 |  |  |  | 913 |  |  |  | 128 |  |  |  | (1,331 | ) |  |  | — |  |  |  | 5,060 |
Income tax expense (benefit) |  | 932 |  |  |  | 193 |  |  |  | 22 |  |  |  | (158 | ) |  |  | — |  |  |  | 989 |
Net income (loss) | $ | 4,418 |  |  | $ | 720 |  |  | $ | 106 |  |  | $ | (1,173 | ) |  | $ | — |  |  | $ | 4,071 |
Net (income) loss attributable to noncontrolling interest | $ | — |  |  | $ | — |  |  | $ | (21 | ) |  | $ | — |  |  | $ | — |  |  | $ | (21 | )
Net income (loss) attributable to Blue Ridge Bankshares, Inc. | $ | 4,418 |  |  | $ | 720 |  |  | $ | 85 |  |  | $ | (1,173 | ) |  | $ | — |  |  | $ | 4,050 |

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