Blue Ridge Bankshares Q4 net loss $2.0M; exits 45 fintech BaaS partnerships

BLUE RIDGE BANKSHARES, INC.

2024-FY EPS reported -$0.31

Net loss of $2.0M ($0.03/sh) vs net income of $0.9M ($0.01/sh) in Q3 2024.
Exited 45 fintech BaaS depository partnerships, reducing related deposits by $445M in 2024.
Nonperforming loans improved to 0.93% of assets from 1.09% in Q3; net loan charge-offs $1.9M.
Noninterest expense down 3% from Q3 and 16% from Q4 2023; headcount reduced 14% YoY.
Bank's tier 1 leverage ratio 11.80% exceeds 10.00% consent order minimum; total risk-based capital 17.26% above 13.00% minimum.

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