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Business Segments | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Business Segments | Note 14 – Business Segments (Restated) This note has been restated to reflect the changes described in the Explanatory Note and in the Restatement section of Note 1 of this Form 10-Q/A. 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 and wholesale mortgage lending and sales activities. Activities at the holding com pany (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 March 31, 2023 (Restated) |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 40,579 |  |  | $ | 305 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 40,890 |
Interest expense |  |  | 15,002 |  |  |  | 139 |  |  |  | 553 |  |  |  | — |  |  |  | 15,694 |
Net interest income |  |  | 25,577 |  |  |  | 166 |  |  |  | (547 | ) |  |  | — |  |  |  | 25,196 |
Provision for credit losses |  |  | (1,510 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,510 | )
Net interest income after provision for credit losses |  |  | 27,087 |  |  |  | 166 |  |  |  | (547 | ) |  |  | — |  |  |  | 26,706 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | — |  |  |  | 1,303 |  |  |  | — |  |  |  | — |  |  |  | 1,303 |
Gain on sale of guaranteed government loans |  |  | 2,409 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,409 |
Service charges on deposit accounts |  |  | 343 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 343 |
Increase in cash surrender value of bank owned life insurance |  |  | 282 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 282 |
Other income |  |  | 3,088 |  |  |  | — |  |  |  | (43 | ) |  |  | (99 | ) |  |  | 2,946 |
Total noninterest income |  |  | 6,122 |  |  |  | 1,303 |  |  |  | (43 | ) |  |  | (99 | ) |  |  | 7,283 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 12,628 |  |  |  | 2,661 |  |  |  | — |  |  |  | — |  |  |  | 15,289 |
Other operating expenses |  |  | 11,210 |  |  |  | 1,485 |  |  |  | 962 |  |  |  | (99 | ) |  |  | 13,558 |
Total noninterest expense |  |  | 23,838 |  |  |  | 4,146 |  |  |  | 962 |  |  |  | (99 | ) |  |  | 28,847 |
Income (loss) from continuing operations before income tax expense |  |  | 9,371 |  |  |  | (2,677 | ) |  |  | (1,552 | ) |  |  | — |  |  |  | 5,142 |
Income tax expense (benefit) |  |  | 2,081 |  |  |  | (583 | ) |  |  | (326 | ) |  |  | — |  |  |  | 1,172 |
Net income (loss) |  | $ | 7,290 |  |  | $ | (2,094 | ) |  | $ | (1,226 | ) |  | $ | — |  |  | $ | 3,970 |
Total assets as of March 31, 2023 |  | $ | 3,259,602 |  |  | $ | 34,083 |  |  | $ | 288,598 |  |  | $ | (258,223 | ) |  | $ | 3,324,060 |
|  | As of and for the three months ended March 31, 2022 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 25,183 |  |  | $ | 591 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 25,802 |
Interest expense |  |  | 1,546 |  |  |  | 35 |  |  |  | 553 |  |  |  | — |  |  |  | 2,134 |
Net interest income |  |  | 23,637 |  |  |  | 556 |  |  |  | (525 | ) |  |  | — |  |  |  | 23,668 |
Provision for credit losses |  |  | 2,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,500 |
Net interest income after provision for credit losses |  |  | 21,137 |  |  |  | 556 |  |  |  | (525 | ) |  |  | — |  |  |  | 21,168 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | — |  |  |  | 9,559 |  |  |  | — |  |  |  | — |  |  |  | 9,559 |
Gain on sale of guaranteed government loans |  |  | 1,427 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,427 |
Service charges on deposit accounts |  |  | 315 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 315 |
Increase in cash surrender value of bank owned life insurance |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 272 |
Other income |  |  | 3,177 |  |  |  | — |  |  |  | 9,426 |  |  |  | (82 | ) |  |  | 12,521 |
Total noninterest income |  |  | 5,191 |  |  |  | 9,559 |  |  |  | 9,426 |  |  |  | (82 | ) |  |  | 24,094 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 9,089 |  |  |  | 5,007 |  |  |  | — |  |  |  | — |  |  |  | 14,096 |
Other operating expenses |  |  | 6,581 |  |  |  | 1,936 |  |  |  | 158 |  |  |  | (82 | ) |  |  | 8,593 |
Total noninterest expense |  |  | 15,670 |  |  |  | 6,943 |  |  |  | 158 |  |  |  | (82 | ) |  |  | 22,689 |
Income from continuing operations before income tax expense |  |  | 10,658 |  |  |  | 3,172 |  |  |  | 8,743 |  |  |  | — |  |  |  | 22,573 |
Income tax expense |  |  | 2,906 |  |  |  | 624 |  |  |  | 1,623 |  |  |  | — |  |  |  | 5,153 |
Net income from continuing operations |  | $ | 7,752 |  |  | $ | 2,548 |  |  | $ | 7,120 |  |  | $ | — |  |  | $ | 17,420 |
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 |  | $ | 8,089 |  |  | $ | 2,548 |  |  | $ | 7,120 |  |  | $ | — |  |  | $ | 17,757 |
Net income from discontinued operations attributable to noncontrolling interest |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Net income attributable to Blue Ridge Bankshares, Inc. |  | $ | 8,088 |  |  | $ | 2,548 |  |  | $ | 7,120 |  |  | $ | — |  |  | $ | 17,756 |
Total assets as of March 31, 2022 |  | $ | 2,628,323 |  |  | $ | 64,419 |  |  | $ | 334,424 |  |  | $ | (302,582 | ) |  | $ | 2,724,584 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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