Blue Ridge Bankshares Inc

NYSE American:BRBSUnited States

Oct 29, 2024

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• -- Earnings Flash (BRBS) BLUE RIDGE BANKSHARES Posts Q3 EPS $0.01, from 5:22PM ET on Tuesday Oct 29, 2024 by MT Newswires

  5:22PM ET on Tuesday Oct 29, 2024 by MT Newswires
  Companies Mentioned: BRBS
  05:22 PM EDT, 10/29/2024 (MT Newswires) -- ...

• *DJ Blue Ridge Bankshares 3Q EPS 1c >BRBS, from 5:15PM ET on Tuesday Oct 29, 2024 by Dow Jones

  5:15PM ET on Tuesday Oct 29, 2024 by Dow Jones
  Companies Mentioned: BRBS

• Blue Ridge Bankshares, Inc. Announces 2024 Third -2-, from 5:15PM ET on Tuesday Oct 29, 2024 by Dow Jones

  5:15PM ET on Tuesday Oct 29, 2024 by Dow Jones
  Companies Mentioned: BRBS
  Average interest-bearing liabilities 2,121,402 2,228,071 2,411,683 2,362,774 2,354,360 Total stockholders' equity 336,347 325,614 180,906 185,989 182,837 Average stockholders' equity 326,880 318,042 183,901 223,840 238,530 Weighted average common shares outstanding - basic 73,366 24,477 19,178 19,033 19,015 Weighted average common shares outstanding - diluted 87,086 24,477 19,178 19,033 19,015 Financial Ratios: Return on average assets (1) 0.13 % -1.48 % -0.37 % -0.73 % -5.09 % Return on average equity (1) 1.16 % -14.38 % -6.29 % -10.29 % -69.38 % Total loan to deposit ratio 93.9 % 99.5 % 98.5 % 96.5 % 90.6 % Held for investment loan-to-deposit ratio 92.9 % 97.1 % 97.1 % 94.7 % 88.1 % FintechBaaS deposits to total deposits ratio 2.7 % 7.4 % 11.1 % 14.5 % 17.8 % Net interest margin (1) 2.74 % 2.79 % 2.75 % 2.92 % 2.92 % Cost of deposits (1) 2.91 % 2.84 % 2.85 % 2.73 % 2.46 % Cost of funds (1) 3.09 % 3.02 % 3.03 % 2.91 % 2.73 % Efficiency ratio 121.3 % 143.9 % 115.3 % 118.2 % 127.7 % Regulatory remediation expenses 357 1,397 2,644 3,155 3,782 Capital and Asset Quality Ratios: Average stockholders' equity to average assets 11.0 % 10.3 % 5.8 % 7.1 % 7.3 % Allowance for credit losses to loans held for investment 1.17 % 1.24 % 1.46 % 1.48 % 2.03 % Ratio of net (recoveries) charge-offs to average loans outstanding (1) -0.61 % 1.81 % 0.14 % 2.84 % 0.09 % Nonperforming loans to total assets 1.09 % 1.40 % 1.73 % 2.02 % 2.51 % Nonperforming assets to total assets 1.09 % 1.40 % 1.73 % 2.02 % 2.51 % Nonperforming loans to total loans 1.46 % 1.78 % 2.19 % 2.55 % 3.25 % Reconciliation of Non-GAAP Financial Measures (unaudited): Tangible Common Equity: Total stockholders' equity $ 336,347 $ 325,614 $ 180,906 $ 185,989 $ 182,837 Less: preferred stock (including additional paid-in capital) (20,605) (20,605) -- -- -- Common stockholders' equity $ 315,742 $ 305,009 $ 180,906 $ 185,989 $ 182,837 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,281) (3,552) (3,913) (4,179) (4,286) Tangible common equity (Non-GAAP) $ 312,461 $ 301,456 $ 176,993 $ 181,810 $ 178,551 ------------------------ ------------------------ ------------------------ ------------------------ ------------------------ Total common shares outstanding 73,474 73,504 19,584 19,198 19,192 Book value per common share $ 4.30 $ 4.15 $ 9.24 $ 9.69 $ 9.53 Tangible book value per common share (Non-GAAP) 4.25 4.10 9.04 9.47 9.30 Tangible Common Equity to Tangible Total Assets Total assets $ 2,944,691 $ 2,933,072 $ 3,076,187 $ 3,117,554 $ 3,262,713 Less: Goodwill and other intangibles, net of deferred tax liability (2) (3,281) (3,552) (3,913) (4,179) (4,286) Tangible total assets (Non-GAAP) $ 2,941,410 $ 2,929,520 $ 3,072,274 $ 3,113,375 $ 3,258,427 ------------------------ ------------------------ ------------------------ ------------------------ ------------------------ Tangible common equity (Non-GAAP) $ 312,461 $ 301,456 $ 176,993 $ 181,810 $ 178,551 Tangible common equity to tangible total assets (Non-GAAP) 10.6 % 10.3 % 5.8 % 5.8 % 5.5 % (1) Annualized (2) Excludes mortgage servicing rights