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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2024
Statement of Financial Position [Abstract] |
Parent Company Only Financial Statements | Note 17. Parent Company Only Financial Statement s The following tables present the condensed financial statements of Blue Ridge Bankshares, Inc. (parent company only) as of the dates and for the periods presented. PARENT COMPANY ONLY CONDENSED BALANCE SHEETS
|  | As of December 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
ASSETS |  |  |  |  |  |
Cash and due from banks |  | $ | 40,241 |  |  | $ | 7,025 |
Investment in subsidiaries |  |  | 308,055 |  |  |  | 201,403 |
Other equity investments |  |  | 4,588 |  |  |  | 12,740 |
Other investments |  |  | 10,359 |  |  |  | 8,706 |
Income tax receivable |  |  | 5,226 |  |  |  | 3,160 |
Other assets |  |  | 730 |  |  |  | 1,432 |
Total assets |  | $ | 369,199 |  |  | $ | 234,466 |
LIABILITIES & STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Accrued expenses |  | $ | 866 |  |  | $ | 7,294 |
Accrued interest payable |  |  | 93 |  |  |  | 368 |
Deferred tax liability |  |  | 663 |  |  |  | 960 |
Subordinated notes, net |  |  | 39,789 |  |  |  | 39,855 |
Total liabilities |  |  | 41,411 |  |  |  | 48,477 |
Stockholders’ equity |  |  | 327,788 |  |  |  | 185,989 |
Total liabilities and stockholders’ equity |  | $ | 369,199 |  |  | $ | 234,466 |
PARENT COMPANY ONLY CONDENSED STATEMENTS OF INCOME
|  | For the years ended December 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
INCOME |  |  |  |  |  |
Dividends from Bank subsidiary |  | $ | — |  |  | $ | 6,000 |
Interest income |  |  | — |  |  |  | 14 |
Fair value adjustments of other equity investments |  |  | (8,152 | ) |  |  | (110 | )
Loss on sale of other equity investments |  |  | — |  |  |  | (1,636 | )
Loss on sale of other investments |  |  | (197 | ) |  |  | — |
Other |  |  | 89 |  |  |  | 50 |
Total (loss) income |  |  | (8,260 | ) |  |  | 4,318 |
EXPENSES |  |  |  |  |  |
Interest on subordinated notes |  |  | 2,414 |  |  |  | 2,209 |
Legal and regulatory filing |  |  | 1,087 |  |  |  | 3,161 |
ESOP litigation |  |  | — |  |  |  | 6,000 |
Other |  |  | 368 |  |  |  | 270 |
Total expenses |  |  | 3,869 |  |  |  | 11,640 |
Loss before income taxes and equity in undistributed earnings of subsidiary |  |  | (12,129 | ) |  |  | (7,322 | )
Income tax benefit |  |  | (2,686 | ) |  |  | (2,623 | )
Equity in undistributed loss of subsidiaries |  |  | (5,942 | ) |  |  | (47,074 | )
Net loss |  | $ | (15,385 | ) |  | $ | (51,773 | )
PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS
|  | For the years ended December 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Cash Flows From Operating Activities |  |  |  |  |  |
Net loss |  | $ | (15,385 | ) |  | $ | (51,773 | )
Equity in undistributed loss of subsidiaries |  |  | 5,942 |  |  |  | 47,074 |
Deferred income tax benefit |  |  | (297 | ) |  |  | (3,830 | )
Amortization of subordinated note issuance costs |  |  | 35 |  |  |  | 35 |
Loss on sale of other equity securities |  |  | — |  |  |  | 1,636 |
Loss on sale of other investments |  |  | 197 |  |  |  | — |
Fair value adjustments of other equity investments |  |  | 8,152 |  |  |  | 110 |
Decrease (increase) in other assets |  |  | 1,364 |  |  |  | (302 | )
(Decrease) increase in accrued expenses |  |  | (8,352 | ) |  |  | 2,486 |
Net cash used in operating activities |  |  | (8,344 | ) |  |  | (4,564 | )
Cash Flows From Investing Activities |  |  |  |  |  |
Proceeds from sale of other equity investments and other investments |  |  | 89 |  |  |  | 7,754 |
Net change in other equity investments |  |  | — |  |  |  | 1,486 |
Net change in other investments |  |  | (1,939 | ) |  |  | (1,545 | )
Capital contribution to Bank subsidiary |  |  | (110,000 | ) |  |  | — |
Dividends received from Bank subsidiary |  |  | — |  |  |  | 6,000 |
Net cash (used in) provided by investing activities |  |  | (111,850 | ) |  |  | 13,695 |
Cash Flows From Financing Activities |  |  |  |  |  |
Proceeds from Private Placements, net of issuance costs |  |  | 152,140 |  |  |  | — |
Warrant exercises |  |  | 1,270 |  |  |  | — |
Dividends paid on common stock |  |  | — |  |  |  | (4,641 | )
Stock option exercises and dividend reinvestment plan issuances |  |  | — |  |  |  | 103 |
Net cash provided by (used in) financing activities |  |  | 153,410 |  |  |  | (4,538 | )
Net increase in cash and due from banks |  |  | 33,216 |  |  |  | 4,593 |
Cash and due from banks at beginning of period |  |  | 7,025 |  |  |  | 2,432 |
Cash and due from banks at end of period |  | $ | 40,241 |  |  | $ | 7,025 |
Supplemental Schedule of Cash Flow Information |  |  |  |  |  |
Cash paid for: |  |  |  |  |  |
Interest |  | $ | 2,689 |  |  | $ | 2,213 |
Income taxes |  | $ | — |  |  | $ | 6,600 |
Non-cash financing activities: |  |  |  |  |  |
Restricted stock awards, net of forfeitures |  | $ | 1,180 |  |  | $ | 1,573 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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