secwatch.observer — SEC 8-K summary
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Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0000950170-24-118375
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Ridge Bankshares Q3 net income $0.9M; fintech BaaS exit ahead of schedule
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- Net income of $0.9M ($0.01/diluted share) vs. loss of $11.4M in Q2 2024 and loss of $41.4M in Q3 2023.
- Recovery of credit losses of $6.2M, including $8.4M recovery from specialty finance loan sale.
- Nonperforming loans to total assets improved to 1.09% from 1.40% in prior quarter.
- Deposits excluding fintech/wholesale grew $73.7M in Q3; fintech BaaS deposits down to 3% of total deposits.
- Bank's tier 1 leverage ratio 11.56% (minimum 10% per Consent Order); TBV improved to $4.25 from $4.10.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000095017024118375/0000950170-24-118375-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000095017024118375/brbs-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-118375

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