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Minimum Regulatory Capital Requirements | 6 Months Ended
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Jun. 30, 2024
Regulatory Matters [Abstract] |
Minimum Regulatory Capital Requirements | Note 7 – Minimum Regulatory Capital Requirements Banks and bank holding companies are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, financial institutions must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. A financial institution's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Pursuant to the final rules implementing the Basel Committee on Banking Supervision's capital guidelines for U.S. banks (the “Basel III rules”), banks must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios of 2.50% for all ratios, except the tier 1 leverage ratio. If a banking organization dips into its capital conservation buffer, it is subject to limitations on certain activities, including payment of dividends, share repurchases, and discretionary compensation to certain officers. Federal and state banking regulations place certain restrictions on dividends paid by the Company. The total amount of dividends that may be paid at any date is generally limited to retained earnings of the Company. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized; although, these terms are not used to represent overall financial condition. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. In addition to the foregoing capital requirements, the Bank is subject to minimum capital ratios set forth in the Consent Order that are higher than those required for capital adequacy purposes generally. The Bank is required to maintain a leverage ratio of 10.00% and a total capital ratio of 13.00%. As of June 30, 2024, the Bank met these minimum capital ratios. Until such levels are maintained and the Consent Order has been lifted, the Bank is deemed to be less than well capitalized, thus adequately capitalized. The Company adopted ASC 326, Financial Instruments - Credit Losses (referred herein as “current expected credit losses” or “CECL”) effective January 1, 2023. Federal and state banking regulations allow financial institutions to irrevocably elect to phase-in the after-tax cumulative effect adjustment at adoption to retained earnings (“CECL Transitional Amount”) over a three-year period. The three-year phase-in of the CECL Transitional Amount to regulatory capital is 25%, 50%, and 25% in 2023, 2024, and 2025, respectively. The Bank made this irrevocable election effective with its first quarter 2023 call report. The following tables present the capital ratios to which banks are subject to be adequatel y and well capitalized, as well as the capital for the Bank to meet these capital ratio levels, as of the dates stated. Adequately capitalized ratios include the conversation buffer, if applicable. Also presented are the minimum capital ratios set forth in the Consent Order for the Bank, and the related capital amounts for both the leverage ratio and the total capital ratio. The CECL Transitional Amount was $8.1 million, of which $4.1 million and $2.0 million reduced the regulatory capital amounts and capital ratios as of June 30, 2024 and December 31, 2023, respectively.
|  | June 30, 2024 |
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well Capitalized |  |  | Minimum Capital Ratios |
(Dollars in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Total risk based capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 367,696 |  |  |  | 15.18 | % |  | $ | 254,335 |  |  |  | 10.50 | % |  | $ | 242,224 |  |  |  | 10.00 | % |  | $ | 314,891 |  |  |  | 13.00 | %
Tier 1 capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 343,744 |  |  |  | 14.19 | % |  | $ | 205,907 |  |  |  | 8.50 | % |  | $ | 193,795 |  |  |  | 8.00 | % |  | n/a |  |  | n/a |
Common equity tier 1 capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 343,744 |  |  |  | 14.19 | % |  | $ | 169,571 |  |  |  | 7.00 | % |  | $ | 157,458 |  |  |  | 6.50 | % |  | n/a |  |  | n/a |
Tier 1 leverage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To average assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 343,744 |  |  |  | 11.02 | % |  | $ | 124,771 |  |  |  | 4.00 | % |  | $ | 155,964 |  |  |  | 5.00 | % |  | $ | 311,927 |  |  |  | 10.00 | %
|  | December 31, 2023 |
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well Capitalized |  |  | Minimum Capital Ratios |
(Dollars in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Total risk based capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 270,293 |  |  |  | 10.25 | % |  | $ | 276,842 |  |  |  | 10.50 | % |  | $ | 263,659 |  |  |  | 10.00 | % |  | $ | 342,757 |  |  |  | 13.00 | %
Tier 1 capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 239,775 |  |  |  | 9.09 | % |  | $ | 224,111 |  |  |  | 8.50 | % |  | $ | 210,928 |  |  |  | 8.00 | % |  | n/a |  |  | n/a |
Common equity tier 1 capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 239,775 |  |  |  | 9.09 | % |  | $ | 184,562 |  |  |  | 7.00 | % |  | $ | 171,379 |  |  |  | 6.50 | % |  | n/a |  |  | n/a |
Tier 1 leverage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(To average assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blue Ridge Bank, N.A. |  | $ | 239,775 |  |  |  | 7.49 | % |  | $ | 128,001 |  |  |  | 4.00 | % |  | $ | 160,001 |  |  |  | 5.00 | % |  | $ | 320,003 |  |  |  | 10.00 | %

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