Blue Ridge Bankshares Inc

NYSE American:BRBSUnited States

Apr 30, 2024

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• *DJ Blue Ridge Bankshares 1Q Loss/Shr 15c >BRBS, from 4:45PM ET on Tuesday Apr 30, 2024 by Dow Jones

  4:45PM ET on Tuesday Apr 30, 2024 by Dow Jones
  Companies Mentioned: BRBS
  equity (1) -6.29 % -10.29 % -69.38 % -13.40 % 6.11 % Total loan to deposit ratio 98.5 % 96.5 % 90.6 % 96.4 % 91.6 % Held for investment loan to deposit ratio 97.1 % 94.7 % 88.1 % 93.9 % 88.8 % Net interest margin (1) 2.75 % 2.92 % 2.92 % 3.12 % 3.30 % Cost of deposits (1) 2.85 % 2.73 % 2.46 % 2.21 % 1.74 % Cost of funds (1) 3.03 % 2.91 % 2.73 % 2.49 % 2.11 % Efficiency ratio 115.3 % 118.2 % 127.7 % 101.3 % 88.8 % Regulatory remediation expenses 2,644 3,155 3,782 2,388 1,134 Capital and Asset Quality Ratios: Average stockholders' equity to average assets 5.8 % 7.1 % 7.3 % 7.8 % 7.9 % Allowance for credit losses to loans held for investment 1.46 % 1.48 % 2.03 % 1.57 % 1.47 % Ratio of net charge-offs to average loans outstanding (1) 0.14 % 2.84 % 0.09 % 1.28 % 0.17 % Nonperforming loans to total assets 1.73 % 2.02 % 2.51 % 2.54 % 2.63 % Nonperforming assets to total assets 1.73 % 2.02 % 2.51 % 2.54 % 2.63 % Nonperforming loans to loans held for investment 2.22 % 2.59 % 3.34 % 3.33 % 3.56 % Reconciliation of Non-GAAP Financial Measures (unaudited): Tangible Common Equity: Total stockholders' equity $ 180,906 $ 185,989 $ 182,837 $ 231,271 $ 246,735 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,913) (4,179) (4,286) (31,427) (31,637) Tangible common equity (Non-GAAP) $ 176,993 $ 181,810 $ 178,551 $ 199,844 $ 215,098 ----------------------- ----------------------- ----------------------- ----------------------- ----------------------- Total shares outstanding 19,584 19,198 19,192 18,934 18,942 Book value per common share $ 9.24 $ 9.69 $ 9.53 $ 12.21 $ 13.03 Tangible book value per common share (Non-GAAP) 9.04 9.47 9.30 10.55 11.36 Tangible stockholders' equity to tangible total assets Total assets $ 3,076,187 $ 3,117,554 $ 3,262,713 $ 3,214,424 $ 3,324,060 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,913) (4,179) (4,286) (31,427) (31,637) Tangible total assets (Non-GAAP) $ 3,072,274 $ 3,113,375 $ 3,258,427 $ 3,182,997 $ 3,292,423 ----------------------- ----------------------- ----------------------- ----------------------- ----------------------- Tangible common equity (Non-GAAP) $ 176,993 $ 181,810 $ 178,551 $ 199,844 $ 215,098 Tangible stockholders' equity to tangible total assets (Non-GAAP) 5.8 % 5.8 % 5.5 % 6.3 % 6.5 % (1) Annualized. (2) Excludes mortgage servicing rights.
  

• Blue Ridge Bankshares, Inc. Announces 2024 First Quarter Results, from 4:45PM ET on Tuesday Apr 30, 2024 by Dow Jones

  4:45PM ET on Tuesday Apr 30, 2024 by Dow Jones
  Companies Mentioned: BRBS
  equity (1) -6.29 % -10.29 % -69.38 % -13.40 % 6.11 % Total loan to deposit ratio 98.5 % 96.5 % 90.6 % 96.4 % 91.6 % Held for investment loan to deposit ratio 97.1 % 94.7 % 88.1 % 93.9 % 88.8 % Net interest margin (1) 2.75 % 2.92 % 2.92 % 3.12 % 3.30 % Cost of deposits (1) 2.85 % 2.73 % 2.46 % 2.21 % 1.74 % Cost of funds (1) 3.03 % 2.91 % 2.73 % 2.49 % 2.11 % Efficiency ratio 115.3 % 118.2 % 127.7 % 101.3 % 88.8 % Regulatory remediation expenses 2,644 3,155 3,782 2,388 1,134 Capital and Asset Quality Ratios: Average stockholders' equity to average assets 5.8 % 7.1 % 7.3 % 7.8 % 7.9 % Allowance for credit losses to loans held for investment 1.46 % 1.48 % 2.03 % 1.57 % 1.47 % Ratio of net charge-offs to average loans outstanding (1) 0.14 % 2.84 % 0.09 % 1.28 % 0.17 % Nonperforming loans to total assets 1.73 % 2.02 % 2.51 % 2.54 % 2.63 % Nonperforming assets to total assets 1.73 % 2.02 % 2.51 % 2.54 % 2.63 % Nonperforming loans to loans held for investment 2.22 % 2.59 % 3.34 % 3.33 % 3.56 % Reconciliation of Non-GAAP Financial Measures (unaudited): Tangible Common Equity: Total stockholders' equity $ 180,906 $ 185,989 $ 182,837 $ 231,271 $ 246,735 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,913) (4,179) (4,286) (31,427) (31,637) Tangible common equity (Non-GAAP) $ 176,993 $ 181,810 $ 178,551 $ 199,844 $ 215,098 ----------------------- ----------------------- ----------------------- ----------------------- ----------------------- Total shares outstanding 19,584 19,198 19,192 18,934 18,942 Book value per common share $ 9.24 $ 9.69 $ 9.53 $ 12.21 $ 13.03 Tangible book value per common share (Non-GAAP) 9.04 9.47 9.30 10.55 11.36 Tangible stockholders' equity to tangible total assets Total assets $ 3,076,187 $ 3,117,554 $ 3,262,713 $ 3,214,424 $ 3,324,060 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,913) (4,179) (4,286) (31,427) (31,637) Tangible total assets (Non-GAAP) $ 3,072,274 $ 3,113,375 $ 3,258,427 $ 3,182,997 $ 3,292,423 ----------------------- ----------------------- ----------------------- ----------------------- ----------------------- Tangible common equity (Non-GAAP) $ 176,993 $ 181,810 $ 178,551 $ 199,844 $ 215,098 Tangible stockholders' equity to tangible total assets (Non-GAAP) 5.8 % 5.8 % 5.5 % 6.3 % 6.5 % (1) Annualized. (2) Excludes mortgage servicing rights.