XML 40 R27.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Business Segments | Note 18. Business Segments The Company's three reportable business segments consist of commercial banking, mortgage banking, and holding company activities. 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 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration