Blue Ridge Bankshares narrows Q1 net loss to $0.4M; cost cuts and NIM improvement highlight progress

BLUE RIDGE BANKSHARES, INC.

2025-Q1 EPS reported -$0.01

Net loss of $0.4M ($0.01 diluted EPS) vs $2.0M loss in Q4 2024; net interest margin improved to 2.90% from 2.80%.
Completed sale of Monarch Mortgage on March 27 with $0.2M loss; headcount reduced 21% (91 employees) since Dec 2024.
Redemption of $15M subordinated note on June 1, 2025 expected to save over $2M in annual interest expense.
Noninterest expense down $2.6M QoQ to $23.0M; regulatory remediation expenses reduced to $0 in Q1.
Tangible book value per share steady at $3.82; Bank capital ratios exceed Consent Order minimums.

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