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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
INTEREST INCOME    
Interest and fees on loans $ 23,899 $ 21,363
Interest on securities, deposit accounts, and federal funds sold 1,903 1,213
Total interest income 25,802 22,576
INTEREST EXPENSE    
Interest on deposits 1,556 1,540
Interest on subordinated notes 553 630
Interest on FHLB and FRB borrowings 25 389
Total interest expense 2,134 2,559
Net interest income 23,668 20,017
Provision for loan losses 2,500 0
Net interest income after provision for loan losses 21,168 20,017
NONINTEREST INCOME    
Fair value adjustments of other equity investments 9,364 0
Residential mortgage banking income, net 2,821 9,301
Mortgage servicing rights 6,738 3,371
Gain on sale of guaranteed government loans 1,427 1,074
Wealth and trust management 391 169
Service charges on deposit accounts 315 327
Increase in cash surrender value of bank owned life insurance 272 164
Bank and purchase card, net 422 300
Other 2,344 833
Total noninterest income 24,094 15,539
NONINTEREST EXPENSE    
Salaries and employee benefits 14,096 13,903
Occupancy and equipment 1,485 1,331
Data processing 946 805
Legal, issuer, and regulatory filing 382 576
Advertising and marketing 428 279
Communications 799 367
Audit and accounting fees 141 189
FDIC insurance 231 343
Intangible amortization 397 351
Other contractual services 534 853
Other taxes and assessments 570 347
Merger-related 50 9,019
Other 2,630 1,872
Total noninterest expenses 22,689 30,235
Income from continuing operations before income tax expense 22,573 5,321
Income tax expense 5,153 1,078
Net income from continuing operations 17,420 4,243
Income (loss) from discontinued operations before income taxes 426 (7)
Income tax expense 89 (1)
Net income from discontinued operations 337 (6)
Net income (loss) 17,757 4,237
Net Income from discontinued operations attributable to noncontrolling interest (1) (9)
Net income (loss) attributable to Blue Ridge Bankshares, Inc. 17,756 4,228
Net income available to common stockholders $ 17,756 $ 4,228
Basic and diluted EPS from continuing operations [1] $ 0.93 $ 0.28
Basic and diluted EPS from discontinued operations [1] 0.02  
Basic and diluted EPS attributable to Blue Ridge Bankshares, Inc. [1] $ 0.95 $ 0.28
[1] Earnings per common share ("EPS") has been adjusted for the three months ended March 31, 2021 to reflect the Company’s 3-for-2 stock split effective April 30, 2021.