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Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of Segment Reporting Information by Segment

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 September 30, 2023
(Dollars in thousands)		Commercial Banking				Mortgage Banking				Parent Only				Eliminations				Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income		$	41,699			$	777			$	9			$	—			$	42,485
Interest expense			18,766				408				1,119				—				20,293
Net interest income			22,933				369				(1,110	)			—				22,192
Provision for credit losses			11,050				—				—				—				11,050
Net interest income after provision for credit losses			11,883				369				(1,110	)			—				11,142
NONINTEREST INCOME
Residential mortgage banking income, including MSRs			(1,095	)			4,906				—				—				3,811
Gain on sale of guaranteed government loans			6				—				—				—				6
Service charges on deposit accounts			365				—				—				—				365
Increase in cash surrender value of bank owned life insurance			311				—				—				—				311
Other income			2,896				—				125				(99	)			2,922
Total noninterest income			2,483				4,906				125				(99	)			7,415
NONINTEREST EXPENSE
Salaries and employee benefits			10,136				4,504				—				—				14,640
Other operating expenses			39,655				2,834				7,591				(99	)			49,981
Total noninterest expense			49,791				7,338				7,591				(99	)			64,621
Loss from continuing operations before income tax expense			(35,425	)			(2,063	)			(8,576	)			—				(46,064	)
Income tax benefit			(2,446	)			(446	)			(1,801	)			—				(4,693	)
Net loss		$	(32,979	)		$	(1,617	)		$	(6,775	)		$	—			$	(41,371	)
Total assets as of September 30, 2023		$	3,183,121			$	46,959			$	230,999			$	(198,366	)		$	3,262,713

		As of and for the three months ended September 30, 2022
(Dollars in thousands)		Commercial Banking				Mortgage Banking				Parent Only				Eliminations				Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income		$	32,752			$	217			$	177			$	—			$	33,146
Interest expense			3,612				126				731				—				4,469
Net interest income			29,140				91				(554	)			—				28,677
Provision for credit losses			3,900				—				—				—				3,900
Net interest income after provision for credit losses			25,240				91				(554	)			—				24,777
NONINTEREST INCOME
Residential mortgage banking income, including MSRs			27				3,140				—				—				3,167
Gain on sale of guaranteed government loans			1,565				—				—				—				1,565
Service charges on deposit accounts			354				—				—				—				354
Increase in cash surrender value of bank owned life insurance			398				—				—				—				398
Other income			2,844				—				(169	)			(191	)			2,484
Total noninterest income			5,188				3,140				(169	)			(191	)			7,968
NONINTEREST EXPENSE
Salaries and employee benefits			10,647				3,527				—				—				14,174
Other operating expenses			13,861				1,002				362				(191	)			15,034
Total noninterest expense			24,508				4,529				362				(191	)			29,208
Income (loss) from continuing operations before income tax expense			5,920				(1,298	)			(1,085	)			—				3,537
Income tax expense (benefit)			1,267				(246	)			(220	)			—				801
Net income (loss) from continuing operations		$	4,653			$	(1,052	)		$	(865	)		$	—			$	2,736
Total assets as of September 30, 2022		$	2,796,033			$	50,354			$	305,029			$	(271,844	)		$	2,879,572

		As of and for the nine months ended September 30, 2023
(Dollars in thousands)		Commercial Banking				Mortgage Banking				Parent Only				Eliminations				Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income		$	124,629			$	1,192			$	14			$	—			$	125,835
Interest expense			52,313				578				1,666				—				54,557
Net interest income			72,316				614				(1,652	)			—				71,278
Provision for credit losses			19,553				—				—				—				19,553
Net interest income after provision for credit losses			52,763				614				(1,652	)			—				51,725
NONINTEREST INCOME
Residential mortgage banking income, including MSRs			850				8,559				—				—				9,409
Gain on sale of guaranteed government loans			4,799				—				—				—				4,799
Service charges on deposit accounts			1,057				—				—				—				1,057
Increase in cash surrender value of bank owned life insurance			885				—				—				—				885
Other income			8,639				—				(157	)			(198	)			8,284
Total noninterest income			16,230				8,559				(157	)			(198	)			24,434
NONINTEREST EXPENSE
Salaries and employee benefits			37,658				6,789				—				—				44,447
Other operating expenses			69,130				4,226				9,915				(198	)			83,073
Total noninterest expense			106,788				11,015				9,915				(198	)			127,520
Loss from continuing operations before income tax expense			(37,795	)			(1,842	)			(11,724	)			—				(51,361	)
Income tax benefit			(2,473	)			(412	)			(2,462	)			—				(5,347	)
Net loss		$	(35,322	)		$	(1,430	)		$	(9,262	)		$	—			$	(46,014	)
Total assets as of September 30, 2023		$	3,183,121			$	46,959			$	230,999			$	(198,366	)		$	3,262,713

		As of and for the nine months ended September 30, 2022
(Dollars in thousands)		Commercial Banking				Mortgage Banking				Parent Only				Eliminations				Blue Ridge Bankshares, Inc. Consolidated
NET INTEREST INCOME
Interest income		$	83,660			$	1,145			$	386			$	—			$	85,191
Interest expense			6,560				254				1,942				—				8,756
Net interest income			77,100				891				(1,556	)			—				76,435
Provision for credit losses			13,894				—				—				—				13,894
Net interest income after provision for credit losses			63,206				891				(1,556	)			—				62,541
NONINTEREST INCOME
Residential mortgage banking income, including MSRs			203				18,483				—				—				18,686
Gain on sale of guaranteed government loans			4,530				—				—				—				4,530
Service charges on deposit accounts			996				—				—				—				996
Increase in cash surrender value of bank owned life insurance			946				—				—				—				946
Other income			8,478				—				9,084				(468	)			17,094
Total noninterest income			15,153				18,483				9,084				(468	)			42,252
NONINTEREST EXPENSE
Salaries and employee benefits			30,652				13,491				—				—				44,143
Other operating expenses			28,949				3,699				901				(468	)			33,081
Total noninterest expense			59,601				17,190				901				(468	)			77,224
Income from continuing operations before income tax expense			18,758				2,184				6,627				—				27,569
Income tax expense			4,562				486				1,248				—				6,296
Net income from continuing operations		$	14,196			$	1,698			$	5,379			$	—			$	21,273
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		$	14,533			$	1,698			$	5,379			$	—			$	21,610
Net income from discontinued operations attributable to noncontrolling interest			(1	)			—				—				—				(1	)
Net income attributable to Blue Ridge Bankshares, Inc.		$	14,532			$	1,698			$	5,379				—			$	21,609
Total assets as of September 30, 2022		$	2,796,033			$	50,354			$	305,029			$	(271,844	)		$	2,879,572

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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