---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-050613"
form_type: "8-K"
ticker: "BRBS"
cik: "0000842717"
company_name: "BLUE RIDGE BANKSHARES, INC."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:08:44.643841+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Blue Ridge Bankshares posts Q1 net loss of $2.9M; closes $150M capital raise post-quarter

## Summary
- Net loss of $2.9M ($0.15/diluted share) vs loss of $5.8M in Q4 2023 and net income of $4.0M in Q1 2023.
- Closed private placement of $150M (common & preferred) on April 3, 2024 to fund transformation and meet OCC capital requirements.
- Nonperforming loans improved to $53.2M (1.73% of assets) from $63.1M (2.02%); recovery of credit losses of $1.0M.
- Net interest margin fell to 2.75% from 2.92% due to higher funding costs; total deposits down $100.3M from fintech decline.
- Regulatory remediation on track: key hires for risk/compliance; OCC consent order tasks completed to date; BaaS wind down ahead of schedule.

## SEC filing metadata
- accession: 0000950170-24-050613
- form_type: 8-K
- ticker: BRBS
- cik: 0000842717
- company_name: BLUE RIDGE BANKSHARES, INC.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842717/000095017024050613/0000950170-24-050613-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842717/000095017024050613/brbs-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-050613
- JSON: https://secwatch.observer/filing/0000950170-24-050613.json
- Plain text: https://secwatch.observer/filing/0000950170-24-050613.txt

## Key facts
- Earnings Releases
  BLUE RIDGE BANKSHARES, INC. reported first quarter ended March 31, 2024 results: net income net loss of $2.9 million, EPS $0.15 per diluted common share.
  - Period: first quarter ended March 31, 2024
  - Net income: net loss of $2.9 million
  - EPS: $0.15 per diluted common share
  - Result: reported results
  source text: Blue Ridge Bankshares, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/842717/000095017024050613/0000950170-24-050613-index.htm

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