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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2020
Statement Of Financial Position [Abstract] |
Parent Company Only Financial Statements | Note 21. Parent Company Only Financial Statements The Blue Ridge Bankshares, Inc. (Parent Company only) condensed financial statements were as follows for the periods presented: PARENT COMPANY ONLY CONDENSED BALANCE SHEETS As of December 31, 2020 and 2019 (dollars in thousands)
Assets |  | 2020 |  |  | 2019 |
Cash and due from banks |  | $ | 2,174 |  |  | $ | 934 |
Investment in subsidiary |  |  | 121,808 |  |  |  | 100,330 |
Securities available for sale, at fair value |  |  | 6,312 |  |  |  | — |
Restricted equity investments, at cost |  |  | 2,274 |  |  |  | 911 |
Accrued interest receivable |  |  | 119 |  |  |  | — |
Other assets |  |  | 354 |  |  |  | 336 |
Total assets |  | $ | 133,041 |  |  | $ | 102,511 |
Liabilities |  |  |  |  |  |  |  |
Accrued expenses |  | $ | 204 |  |  | $ | 374 |
Accrued interest payable |  |  | 131 |  |  | $ | — |
Subordinated debentures, net of issuance costs |  |  | 24,506 |  |  |  | 9,800 |
Total liabilities |  |  | 24,841 |  |  |  | 10,174 |
Stockholders' equity |  | $ | 108,200 |  |  | $ | 92,337 |
Total liabilities and stockholders' equity |  | $ | 133,041 |  |  | $ | 102,511 |
PARENT COMPANY ONLY CONDENSED STATEMENTS OF INCOME For the Years ended December 31, 2020 and 2019 (dollars in thousands)
Income |  | 2020 |  |  | 2019 |
Dividends from subsidiary |  | $ | 800 |  |  | $ | — |
Interest income |  |  | 126 |  |  |  | 5 |
Gains on securities |  |  | — |  |  |  | 110 |
Total Income |  | $ | 926 |  |  | $ | 115 |
Expenses |  |  |  |  |  |  |  |
Interest on subordinated debentures |  | $ | 1,265 |  |  | $ | 709 |
Professional fees |  |  | 455 |  |  |  | 294 |
Merger expenses |  |  | 1,732 |  |  |  | 1,250 |
Other operating expenses |  |  | 166 |  |  |  | 27 |
Total expenses |  | $ | 3,618 |  |  | $ | 2,280 |
Net loss before income tax benefit and equity in undistributed earnings of subsidiary |  | $ | (2,692 | ) |  | $ | (2,165 | )
Income tax benefit |  |  | (699 | ) |  |  | (372 | )
Equity in undistributed earnings of subsidiary |  |  | 19,689 |  |  |  | 6,373 |
Net income |  | $ | 17,696 |  |  | $ | 4,580 |
PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS For the Years ended December 31, 2020 and 2019 (dollars in thousands)
Cash flows from operating activities |  | 2020 |  |  | 2019 |
Net income |  | $ | 17,696 |  |  | $ | 4,580 |
Equity in undistributed earnings of subsidiary |  |  | (19,689 | ) |  |  | (6,373 | )
Deferred income tax (benefit) expense |  |  | (62 | ) |  |  | (19 | )
Amortization of subordinated debt issuance costs |  |  | 54 |  |  |  | 33 |
Realized gains on securities sales |  |  | — |  |  |  | 110 |
Increase in other assets |  |  | (139 | ) |  |  | (206 | )
Decrease in accrued expenses |  |  | (39 | ) |  |  | — |
Net cash used in operating activities |  |  | (2,179 | ) |  |  | (1,875 | )
Cash flows from investing activities |  |  |  |  |  |  |  |
Purchases of securities available-for-sale |  |  | (6,000 | ) |  |  | (161 | )
Net change in investments |  |  | (1,363 | ) |  |  | — |
Proceeds from sales of securities available for sale |  |  | — |  |  |  | 66 |
Cash contributed to Bank |  |  | (2,000 | ) |  |  | (17,000 | )
Net cash used in investing activities |  |  | (9,363 | ) |  |  | (17,095 | )
Cash flows from financing activities |  |  |  |  |  |  |  |
Common stock issuance, net of fees |  |  | 567 |  |  |  | 22,350 |
Issuance of subordinated debt |  |  | 15,000 |  |  |  | — |
Payment of subordinated debt issuance costs |  |  | (349 | ) |  |  | — |
Common stock dividends paid |  |  | (2,436 | ) |  |  | (2,473 | )
Net cash provided by financing activities |  |  | 12,782 |  |  |  | 19,877 |
Net increase in cash and cash equivalents |  |  | 1,240 |  |  |  | 907 |
Cash and cash equivalents, beginning of year |  |  | 934 |  |  |  | 27 |
Cash and cash equivalents, end of year |  | $ | 2,174 |  |  | $ | 934 |
Cash paid for: |  |  |  |  |  |  |  |
Interest |  | $ | 1,190 |  |  | $ | 709 |
Income taxes |  | $ | 2,000 |  |  | $ | 1,020 |
Non-cash investing and financing activities: |  |  |  |  |  |  |  |
Unrealized gain on available-for-sale securities |  | $ | 358 |  |  | $ | 217 |
Issuance of restricted stock awards, net of forfeitures |  | $ | 567 |  |  | $ | 230 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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