secwatch.observer — SEC 8-K summary
======================================

Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0000950170-23-056906
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Ridge Q3 net loss $41.4M ($2.18/sh); goodwill impairment $26.8M, suspends dividend
--------------------------------------------------------------------------------

- Net loss from continuing ops of $41.4M includes $26.8M non-cash goodwill impairment and $6.0M ESOP litigation reserve.
- Board suspended future quarterly dividends to preserve capital; prior dividend rate was $0.09/quarter.
- Restating 2022 annual and 2023 Q1/Q2 financials to reflect nonaccrual status of certain specialty finance loans.
- Net interest margin fell to 2.92% from 3.12%; allowance for credit losses rose to 2.03% of loans from 1.58%.
- Tangible book value per share declined to $9.30 from $10.55; Bank remains well-capitalized under regulatory guidelines.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000095017023056906/0000950170-23-056906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000095017023056906/brbs-20231031.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-056906

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer