Blue Ridge Bankshares Q1 net income $1.6M ($0.09/diluted), down from $6.3M in Q4 2022; NIM shrinks to 3.58%

BLUE RIDGE BANKSHARES, INC.

2023-Q1 EPS reported $0.09

Net income from continuing ops $1.6M (diluted EPS $0.09) vs $6.3M ($0.33) Q4 2022 and $17.4M ($0.93) Q1 2022.
Net interest margin fell to 3.58% from 4.83% QoQ; cost of deposits rose to 1.74% from 0.85%.
Total deposits grew $258.5M (10.3%) to $2.76B, but ex-$293M brokered time deposits core deposits declined 1.4%.
Nonperforming loans increased to $30.7M (0.92% assets) from $18.6M (0.59%) QoQ; provision for credit losses $3.7M.
Regulatory remediation costs $1.1M; dividend of $0.1225/share declared, payable April 28.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLUE RIDGE BANKSHARES, INC. reported the first quarter ended March 31, 2023 results: net income $1.6 million, EPS $0.09 per diluted common share.

Period: the first quarter ended March 31, 2023
Net income: $1.6 million
EPS: $0.09 per diluted common share
Result: reported results

Exact text from the filing

For the first quarter of 2023, the Company reported net income from continuing operations of $1.6 million, or $0.09 per diluted common share

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

BLUE RIDGE BANKSHARES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-015389

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