---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-015389"
form_type: "8-K"
ticker: "BRBS"
cik: "0000842717"
company_name: "BLUE RIDGE BANKSHARES, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T10:28:11.765468+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-015389
- form_type: 8-K
- ticker: BRBS
- cik: 0000842717
- company_name: BLUE RIDGE BANKSHARES, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842717/000095017023015389/0000950170-23-015389-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842717/000095017023015389/brbs-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-015389
- JSON: https://secwatch.observer/filing/0000950170-23-015389.json
- Plain text: https://secwatch.observer/filing/0000950170-23-015389.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/842717/000095017023015389/0000950170-23-015389-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.