Blue Ridge Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 28, 2022 at 02:30 am IST
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Blue Ridge Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 28.68 million compared to USD 21.12 million a year ago. Net income was USD 2.74 million compared to USD 6.81 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.36 a year ago. Basic earnings per share was USD 0.15 compared to USD 0.37 a year ago. Diluted earnings per share was USD 0.15 compared to USD 0.36 a year ago.
For the nine months, net interest income was USD 76.44 million compared to USD 71.6 million a year ago. Net income was USD 21.61 million compared to USD 39.68 million a year ago. Basic earnings per share from continuing operations was USD 1.13 compared to USD 2.27 a year ago. Diluted earnings per share from continuing operations was USD 1.13 compared to USD 2.27 a year ago.
Blue Ridge Bankshares, Inc. is the holding company of Blue Ridge Bank, National Association (the Bank) and BRB Financial Group, Inc. (the Financial Group). The Company's segments include commercial banking, mortgage banking and holding company activities. The Bank serves businesses, professionals, consumers, nonprofits, and municipalities with a variety of financial services, including retail and commercial banking, mortgage banking, government guaranteed lending, and employee benefit plan services. Its banking products include checking accounts, savings accounts, commercial and industrial loans, residential mortgages, commercial mortgages, home equity loans, consumer installment loans, credit cards, online banking, telephone banking, and mobile banking. The Company, through the Financial Group, offers management services for personal and corporate trusts, including estate planning, estate settlement and trust administration, insurance products, and investment and wealth management.