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Business Segments (Tables) | 12 Months Ended
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Dec. 31, 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 periods stated.
|  | For the year ended December 31, 2023 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 167,340 |  |  | $ | 1,641 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 168,995 |
Interest expense |  |  | 72,952 |  |  |  | 793 |  |  |  | 2,209 |  |  |  | — |  |  |  | 75,954 |
Net interest income |  |  | 94,388 |  |  |  | 848 |  |  |  | (2,195 | ) |  |  | — |  |  |  | 93,041 |
Provision for credit losses |  |  | 22,323 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22,323 |
Net interest income after provision for credit losses |  |  | 72,065 |  |  |  | 848 |  |  |  | (2,195 | ) |  |  | — |  |  |  | 70,718 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | 993 |  |  |  | 9,007 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Gain on sale of guaranteed government loans |  |  | 5,704 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,704 |
Service charges on deposit accounts |  |  | 1,423 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,423 |
Increase in cash surrender value of bank owned life insurance |  |  | 1,195 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,195 |
Other income |  |  | 12,310 |  |  |  | — |  |  |  | (1,695 | ) |  |  | (396 | ) |  |  | 10,219 |
Total noninterest income |  |  | 21,625 |  |  |  | 9,007 |  |  |  | (1,695 | ) |  |  | (396 | ) |  |  | 28,541 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 49,860 |  |  |  | 8,298 |  |  |  | — |  |  |  | — |  |  |  | 58,158 |
Regulatory remediation |  |  | 10,459 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,459 |
Goodwill impairment |  |  | 26,826 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26,826 |
ESOP litigation |  |  | — |  |  |  | — |  |  |  | 6,000 |  |  |  | — |  |  |  | 6,000 |
Other expenses |  |  | 48,398 |  |  |  | 5,225 |  |  |  | 3,433 |  |  |  | (396 | ) |  |  | 56,660 |
Total noninterest expense |  |  | 135,543 |  |  |  | 13,523 |  |  |  | 9,433 |  |  |  | (396 | ) |  |  | 158,103 |
Loss from continuing operations before income tax |  |  | (41,853 | ) |  |  | (3,668 | ) |  |  | (13,323 | ) |  |  | — |  |  |  | (58,844 | )
Income tax benefit |  |  | (3,571 | ) |  |  | (877 | ) |  |  | (2,623 | ) |  |  | — |  |  |  | (7,071 | )
Net loss |  | $ | (38,282 | ) |  | $ | (2,791 | ) |  | $ | (10,700 | ) |  | $ | — |  |  | $ | (51,773 | )
Total assets as of December 31, 2023 |  | $ | 3,053,453 |  |  | $ | 39,010 |  |  | $ | 233,506 |  |  | $ | (208,415 | ) |  | $ | 3,117,554 |
|  | For the year ended December 31, 2022 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 119,758 |  |  | $ | 1,455 |  |  | $ | 439 |  |  | $ | — |  |  | $ | 121,652 |
Interest expense |  |  | 14,122 |  |  |  | 419 |  |  |  | 2,544 |  |  |  | — |  |  |  | 17,085 |
Net interest income |  |  | 105,636 |  |  |  | 1,036 |  |  |  | (2,105 | ) |  |  | — |  |  |  | 104,567 |
Provision for credit losses |  |  | 25,687 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25,687 |
Net interest income after provision for credit losses |  |  | 79,949 |  |  |  | 1,036 |  |  |  | (2,105 | ) |  |  | — |  |  |  | 78,880 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage banking income, including MSRs |  |  | 147 |  |  |  | 20,500 |  |  |  | — |  |  |  | — |  |  |  | 20,647 |
Gain on sale of guaranteed government loans |  |  | 4,734 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,734 |
Service charges on deposit accounts |  |  | 1,289 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,289 |
Increase in cash surrender value of bank owned life insurance |  |  | 1,348 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,348 |
Other income |  |  | 11,193 |  |  |  | 17 |  |  |  | 9,453 |  |  |  | (589 | ) |  |  | 20,074 |
Total noninterest income |  |  | 18,711 |  |  |  | 20,517 |  |  |  | 9,453 |  |  |  | (589 | ) |  |  | 48,092 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 40,012 |  |  |  | 15,994 |  |  |  | — |  |  |  | — |  |  |  | 56,006 |
Regulatory remediation |  |  | 7,442 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,442 |
Merger-related |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | — |  |  |  | 50 |
Other expenses |  |  | 35,129 |  |  |  | 4,875 |  |  |  | 1,863 |  |  |  | (589 | ) |  |  | 41,278 |
Total noninterest expense |  |  | 82,583 |  |  |  | 20,869 |  |  |  | 1,913 |  |  |  | (589 | ) |  |  | 104,776 |
Income from continuing operations before income tax expense |  |  | 16,077 |  |  |  | 684 |  |  |  | 5,435 |  |  |  | — |  |  |  | 22,196 |
Income tax expense |  |  | 3,840 |  |  |  | 152 |  |  |  | 1,207 |  |  |  | — |  |  |  | 5,199 |
Net income from continuing operations |  | $ | 12,237 |  |  | $ | 532 |  |  | $ | 4,228 |  |  | $ | — |  |  | $ | 16,997 |
Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from discontinued operations before income taxes (including gain on disposal of $471 thousand) |  |  | 426 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 426 |
Income tax expense |  |  | 89 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 89 |
Net income from discontinued operations |  |  | 337 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 337 |
Net income |  | $ | 12,574 |  |  | $ | 532 |  |  | $ | 4,228 |  |  | $ | — |  |  | $ | 17,334 |
Net income from discontinued operations attributable to noncontrolling interest |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Net income attributable to Blue Ridge Bankshares, Inc. |  | $ | 12,573 |  |  | $ | 532 |  |  | $ | 4,228 |  |  | $ | — |  |  | $ | 17,333 |
Total assets as of December 31, 2022 |  | $ | 3,059,282 |  |  | $ | 40,840 |  |  | $ | 289,860 |  |  | $ | (259,517 | ) |  | $ | 3,130,465 |
|  | For the year ended December 31, 2021 |
(Dollars in thousands) |  | Commercial Banking |  |  | Mortgage Banking |  |  | Parent Only |  |  | Eliminations |  |  | Blue Ridge Bankshares, Inc. Consolidated |
NET INTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 99,810 |  |  | $ | 3,596 |  |  | $ | 140 |  |  | $ | — |  |  | $ | 103,546 |
Interest expense |  |  | 8,181 |  |  |  | 257 |  |  |  | 2,627 |  |  |  | — |  |  |  | 11,065 |
Net interest income |  |  | 91,629 |  |  |  | 3,339 |  |  |  | (2,487 | ) |  |  | — |  |  |  | 92,481 |
Provision for credit losses |  |  | 117 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 117 |
Net interest income after provision for credit losses |  |  | 91,512 |  |  |  | 3,339 |  |  |  | (2,487 | ) |  |  | — |  |  |  | 92,364 |
NONINTEREST INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on sale of Paycheck Protection Program loans |  |  | 24,315 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,315 |
Residential mortgage banking income, including MSRs |  |  | — |  |  |  | 37,022 |  |  |  | — |  |  |  | — |  |  |  | 37,022 |
Gain on sale of guaranteed government loans |  |  | 2,005 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,005 |
Service charges on deposit accounts |  |  | 1,464 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,464 |
Increase in cash surrender value of bank owned life insurance |  |  | 932 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 932 |
Other income |  |  | 13,733 |  |  |  | 194 |  |  |  | 7,505 |  |  |  | (182 | ) |  |  | 21,250 |
Total noninterest income |  |  | 42,449 |  |  |  | 37,216 |  |  |  | 7,505 |  |  |  | (182 | ) |  |  | 86,988 |
NONINTEREST EXPENSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  |  | 35,320 |  |  |  | 26,161 |  |  |  | — |  |  |  | — |  |  |  | 61,481 |
Merger-related |  |  | 9,226 |  |  |  | — |  |  |  | 2,642 |  |  |  | — |  |  |  | 11,868 |
Other expenses |  |  | 28,375 |  |  |  | 8,428 |  |  |  | 1,018 |  |  |  | (182 | ) |  |  | 37,639 |
Total noninterest expense |  |  | 72,921 |  |  |  | 34,589 |  |  |  | 3,660 |  |  |  | (182 | ) |  |  | 110,988 |
Income from continuing operations before income tax expense |  |  | 61,040 |  |  |  | 5,966 |  |  |  | 1,358 |  |  |  | — |  |  |  | 68,364 |
Income tax expense |  |  | 13,978 |  |  |  | 1,253 |  |  |  | 509 |  |  |  | — |  |  |  | 15,740 |
Net income from continuing operations |  | $ | 47,062 |  |  | $ | 4,713 |  |  | $ | 849 |  |  | $ | — |  |  | $ | 52,624 |
Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss from discontinued operations before income taxes |  |  | (183 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (183 | )
Income tax benefit |  |  | (39 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (39 | )
Net loss from discontinued operations |  |  | (144 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (144 | )
Net income |  | $ | 46,918 |  |  | $ | 4,713 |  |  | $ | 849 |  |  | $ | — |  |  | $ | 52,480 |
Net income from discontinued operations attributable to noncontrolling interest |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3 | )
Net income attributable to Blue Ridge Bankshares, Inc. |  | $ | 46,915 |  |  | $ | 4,713 |  |  | $ | 849 |  |  | $ | — |  |  | $ | 52,477 |
Total assets as of December 31, 2021 |  | $ | 2,498,916 |  |  | $ | 142,537 |  |  | $ | 319,685 |  |  | $ | (295,999 | ) |  | $ | 2,665,139 |

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