secwatch.observer — SEC 8-K summary
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Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000950170-23-015389
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000095017023015389/0000950170-23-015389-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000095017023015389/brbs-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-015389

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