secwatch.observer — SEC 8-K summary
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Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0000950170-24-009488
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000095017024009488/0000950170-24-009488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000095017024009488/brbs-20240131.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-009488

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