Blue Ridge Bankshares Q4 net loss $5.8M; OCC consent order, $150M capital raise

BLUE RIDGE BANKSHARES, INC.

2023-FY EPS reported -$2.73

Net loss of $5.8M ($0.30 diluted EPS) vs net loss of $41.4M ($2.18 EPS) in Q3 2023.
Nonperforming loans fell to $62.6M (2.01% of assets) from $81.8M; $12.5M specialty finance charge-offs.
Bank's tier 1 leverage ratio 7.49% below OCC consent order minimum of 10.00%; total capital 10.25% vs 13.00% minimum.
Fintech-related deposits dropped to $465.9M (18.2% of total) from $720.8M (26.0%) at Sept. 30, 2023.
Announced $150M private placement at $2.50/share; closing expected March 2024 subject to shareholder approval.

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 year ended December 31, 2023 results: net income a net loss from continuing operations of $51.8 million, EPS $2.73 per diluted common share.

Period: the year ended December 31, 2023
Net income: a net loss from continuing operations of $51.8 million
EPS: $2.73 per diluted common share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, the Company reported a net loss from continuing operations of $51.8 million, or $2.73 per diluted common share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLUE RIDGE BANKSHARES, INC. reported the fourth quarter ended December 31, 2023 results: net income a net loss of $5.8 million, EPS $0.30 per diluted common share.

Period: the fourth quarter ended December 31, 2023
Net income: a net loss of $5.8 million
EPS: $0.30 per diluted common share
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, the Company reported a net loss of $5.8 million, or $0.30 per diluted common share

View on SEC.gov

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

BLUE RIDGE BANKSHARES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-009488

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