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Business Segments | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Business Segments | Note 14 – Business Segments The Company has three reportable business segments: commercial banking, mortgage banking, and holding company activities. The commercial banking business segment makes loans to and generates deposits from individuals and businesses, while offering a wide array of general banking activities to its customers. It is distinct from the Company's mortgage banking division, which concentrates on individual mortgage lending and sales activities. Activities at the holding company (or parent level) are primarily associated with investments, borrowings, and certain noninterest expenses. The following tables present statement of operations items and assets by segment as of the dates and for the periods stated.
|  | As of and for the three months ended June 30, 2023 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 38,553 |  |  | $ | 415 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 38,973 |
Interest expense |  |  | 17,853 |  |  |  | 170 |  |  |  | 547 |  |  |  | — |  |  |  | 18,570 |
Net interest income |  |  | 20,700 |  |  |  | 245 |  |  |  | (542 | ) |  |  | — |  |  |  | 20,403 |
Provision for credit losses |  |  | 20,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,500 |
Net interest income after provision for credit losses |  |  | 200 |  |  |  | 245 |  |  |  | (542 | ) |  |  | — |  |  |  | (97 | )
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | 712 |  |  |  | 3,583 |  |  |  | — |  |  |  | — |  |  |  | 4,295 |
Gain on sale of guaranteed government loans |  |  | 2,384 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,384 |
Service charges on deposit accounts |  |  | 349 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 349 |
Increase in cash surrender value of bank owned life insurance |  |  | 292 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 292 |
Other income |  |  | 2,797 |  |  |  | — |  |  |  | (282 | ) |  |  | (99 | ) |  |  | 2,416 |
Total noninterest income |  |  | 6,534 |  |  |  | 3,583 |  |  |  | (282 | ) |  |  | (99 | ) |  |  | 9,736 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 12,233 |  |  |  | 2,285 |  |  |  | — |  |  |  | — |  |  |  | 14,518 |
Other operating expenses |  |  | 15,917 |  |  |  | 1,392 |  |  |  | 2,324 |  |  |  | (99 | ) |  |  | 19,534 |
Total noninterest expense |  |  | 28,150 |  |  |  | 3,677 |  |  |  | 2,324 |  |  |  | (99 | ) |  |  | 34,052 |
(Loss) income from continuing operations before income tax expense |  |  | (21,416 | ) |  |  | 151 |  |  |  | (3,148 | ) |  |  | — |  |  |  | (24,413 | )
Income tax (benefit) expense |  |  | (4,322 | ) |  |  | 34 |  |  |  | (661 | ) |  |  | — |  |  |  | (4,949 | )
Net (loss) income |  | $ | (17,094 | ) |  | $ | 117 |  |  | $ | (2,487 | ) |  | $ | — |  |  | $ | (19,464 | )
Total assets as of June 30, 2023 |  | $ | 3,141,817 |  |  | $ | 41,124 |  |  | $ | 273,280 |  |  | $ | (241,797 | ) |  | $ | 3,214,424 |
|  | As of and for the three months ended June 30, 2022 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 25,725 |  |  | $ | 337 |  |  | $ | 181 |  |  | $ | — |  |  | $ | 26,243 |
Interest expense |  |  | 1,402 |  |  |  | 93 |  |  |  | 658 |  |  |  | — |  |  |  | 2,153 |
Net interest income |  |  | 24,323 |  |  |  | 244 |  |  |  | (477 | ) |  |  | — |  |  |  | 24,090 |
Provision for credit losses |  |  | 7,494 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,494 |
Net interest income after provision for credit losses |  |  | 16,829 |  |  |  | 244 |  |  |  | (477 | ) |  |  | — |  |  |  | 16,596 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | (25 | ) |  |  | 5,985 |  |  |  | — |  |  |  | — |  |  |  | 5,960 |
Gain on sale of guaranteed government loans |  |  | 1,538 |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 1,538 |
Service charges on deposit accounts |  |  | 327 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 327 |
Increase in cash surrender value of bank owned life insurance |  |  | 276 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 276 |
Other income |  |  | 2,457 |  |  |  | — |  |  |  | (173 | ) |  |  | (195 | ) |  |  | 2,089 |
Total noninterest income |  |  | 4,573 |  |  |  | 5,985 |  |  |  | (173 | ) |  |  | (195 | ) |  |  | 10,190 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 10,916 |  |  |  | 4,957 |  |  |  | — |  |  |  | — |  |  |  | 15,873 |
Other operating expenses |  |  | 8,506 |  |  |  | 761 |  |  |  | 381 |  |  |  | (195 | ) |  |  | 9,453 |
Total noninterest expense |  |  | 19,422 |  |  |  | 5,718 |  |  |  | 381 |  |  |  | (195 | ) |  |  | 25,326 |
Income (loss) from continuing operations before income tax expense |  |  | 1,980 |  |  |  | 511 |  |  |  | (1,031 | ) |  |  | — |  |  |  | 1,460 |
Income tax expense (benefit) |  |  | 389 |  |  |  | 108 |  |  |  | (155 | ) |  |  | — |  |  |  | 342 |
Net income (loss) from continuing operations |  | $ | 1,591 |  |  | $ | 403 |  |  | $ | (876 | ) |  | $ | — |  |  | $ | 1,118 |
Total assets as of June 30, 2022 |  | $ | 2,712,209 |  |  | $ | 55,335 |  |  | $ | 316,891 |  |  | $ | (284,792 | ) |  | $ | 2,799,643 |
|  | As of and for the six months ended June 30, 2023 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 81,295 |  |  | $ | 720 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 82,026 |
Interest expense |  |  | 32,855 |  |  |  | 309 |  |  |  | 1,100 |  |  |  | — |  |  |  | 34,264 |
Net interest income |  |  | 48,440 |  |  |  | 411 |  |  |  | (1,089 | ) |  |  | — |  |  |  | 47,762 |
Provision for credit losses |  |  | 24,200 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,200 |
Net interest income after provision for credit losses |  |  | 24,240 |  |  |  | 411 |  |  |  | (1,089 | ) |  |  | — |  |  |  | 23,562 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | 642 |  |  |  | 4,956 |  |  |  | — |  |  |  | — |  |  |  | 5,598 |
Gain on sale of guaranteed government loans |  |  | 4,793 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,793 |
Service charges on deposit accounts |  |  | 692 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 692 |
Increase in cash surrender value of bank owned life insurance |  |  | 574 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 574 |
Other income |  |  | 5,885 |  |  |  | — |  |  |  | (325 | ) |  |  | (198 | ) |  |  | 5,362 |
Total noninterest income |  |  | 12,586 |  |  |  | 4,956 |  |  |  | (325 | ) |  |  | (198 | ) |  |  | 17,019 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 24,861 |  |  |  | 4,946 |  |  |  | — |  |  |  | — |  |  |  | 29,807 |
Other operating expenses |  |  | 27,127 |  |  |  | 2,877 |  |  |  | 3,286 |  |  |  | (198 | ) |  |  | 33,092 |
Total noninterest expense |  |  | 51,988 |  |  |  | 7,823 |  |  |  | 3,286 |  |  |  | (198 | ) |  |  | 62,899 |
Loss from continuing operations before income tax expense |  |  | (15,162 | ) |  |  | (2,456 | ) |  |  | (4,700 | ) |  |  | — |  |  |  | (22,318 | )
Income tax benefit |  |  | (2,922 | ) |  |  | (549 | ) |  |  | (987 | ) |  |  | — |  |  |  | (4,458 | )
Net loss |  | $ | (12,240 | ) |  | $ | (1,907 | ) |  | $ | (3,713 | ) |  | $ | — |  |  | $ | (17,860 | )
Total assets as of June 30, 2023 |  | $ | 3,141,817 |  |  | $ | 41,124 |  |  | $ | 273,280 |  |  | $ | (241,797 | ) |  | $ | 3,214,424 |
|  | As of and for the six months ended June 30, 2022 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 50,908 |  |  | $ | 928 |  |  | $ | 209 |  |  | $ | — |  |  | $ | 52,045 |
Interest expense |  |  | 2,948 |  |  |  | 128 |  |  |  | 1,211 |  |  |  | — |  |  |  | 4,287 |
Net interest income |  |  | 47,960 |  |  |  | 800 |  |  |  | (1,002 | ) |  |  | — |  |  |  | 47,758 |
Provision for credit losses |  |  | 9,994 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,994 |
Net interest income after provision for credit losses |  |  | 37,966 |  |  |  | 800 |  |  |  | (1,002 | ) |  |  | — |  |  |  | 37,764 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | 176 |  |  |  | 15,343 |  |  |  | — |  |  |  | — |  |  |  | 15,519 |
Gain on sale of guaranteed government loans |  |  | 2,965 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,965 |
Service charges on deposit accounts |  |  | 642 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 642 |
Increase in cash surrender value of bank owned life insurance |  |  | 548 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 548 |
Other income |  |  | 5,634 |  |  |  | — |  |  |  | 9,253 |  |  |  | (277 | ) |  |  | 14,610 |
Total noninterest income |  |  | 9,965 |  |  |  | 15,343 |  |  |  | 9,253 |  |  |  | (277 | ) |  |  | 34,284 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 20,005 |  |  |  | 9,964 |  |  |  | — |  |  |  |  |  |  | 29,969 |
Other operating expenses |  |  | 15,087 |  |  |  | 2,697 |  |  |  | 539 |  |  |  | (277 | ) |  |  | 18,046 |
Total noninterest expense |  |  | 35,092 |  |  |  | 12,661 |  |  |  | 539 |  |  |  | (277 | ) |  |  | 48,015 |
Income from continuing operations before income tax expense |  |  | 12,839 |  |  |  | 3,482 |  |  |  | 7,712 |  |  |  | — |  |  |  | 24,033 |
Income tax expense |  |  | 3,295 |  |  |  | 732 |  |  |  | 1,468 |  |  |  | — |  |  |  | 5,495 |
Net income from continuing operations |  | $ | 9,544 |  |  | $ | 2,750 |  |  | $ | 6,244 |  |  | $ | — |  |  | $ | 18,538 |
Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from discontinued operations before income taxes |  |  | 426 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 426 |
Income tax expense |  |  | 89 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 89 |
Net income from discontinued operations |  |  | 337 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 337 |
Net income |  | $ | 9,881 |  |  | $ | 2,750 |  |  | $ | 6,244 |  |  | $ | — |  |  | $ | 18,875 |
Net income from discontinued operations attributable to noncontrolling interest |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Net income attributable to Blue Ridge Bankshares, Inc. |  | $ | 9,880 |  |  | $ | 2,750 |  |  | $ | 6,244 |  |  | $ | — |  |  | $ | 18,874 |
Total assets as of June 30, 2022 |  | $ | 2,712,209 |  |  | $ | 55,335 |  |  | $ | 316,891 |  |  | $ | (284,792 | ) |  | $ | 2,799,643 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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