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Business Combinations (Tables) - Virginia Community Bankshares, Inc [Member]

12 Months Ended

Dec. 31, 2020

Summary of Assets Received and Liabilities Assumed and Related Adjustments

A summary of the assets received and liabilities assumed and related adjustments is as follows:

		As Recorded by Virginia Community Bankshares, Inc.				Adjustments							As Recorded by Blue Ridge Bankshares, Inc.
Assets
Cash and due from banks		$	9,679			$	—						$	9,679
Investment securities available-for-sale			43,419				(470	)		(1	)			42,949
Restricted equity securities			303				—							303
Loans			173,872				(876	)		(2	)			172,996
Premises and equipment			6,436				3,296			(3	)			9,732
Other real estate owned			87				(87	)		(4	)			—
Accrued interest receivable			864				—							864
Core deposit intangible			—				1,690			(5	)			1,690
Other assets			8,069				550			(6	)			8,619
Total assets acquired		$	242,729			$	4,103							246,832
Liabilities
Deposits			217,953				119			(7	)			218,072
Other liabilities			1,297				—							1,297
Total liabilities assumed		$	219,250			$	119							219,369
Net assets acquired														27,463
Total consideration paid														44,048
Goodwill													$	16,585

Explanation of adjustments:

(1) Adjustment to reflect estimated fair value of securities portfolio.

(2) Adjustment to reflect estimated fair value of loans of $2,295, and elimination of VCB’s allowance for loan and lease losses of $1,419.

(3) Adjustment to reflect estimated fair value of furniture, fixtures, and equipment.

(4) Adjustment to reflect estimated fair value of OREO.

(5) Adjustment to reflect recording of core deposit intangible.

(6) Adjustment to reflect estimated fair value of other assets and the recording of deferred taxes related to acquisition.

(7) Adjustment to reflect estimated fair value of deposits.

Summary of Consideration Paid

A summary of the consideration paid is as follows:

(Dollars in thousands)
Common stock issued (1,312,919 shares)		$	27,402
Cash payments to common shareholders			16,646
Total consideration paid		$	44,048

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