Blue Ridge Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 01, 2023 at 02:03 am IST
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Blue Ridge Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 22.19 million compared to USD 28.68 million a year ago. Net loss was USD 41.37 million compared to net income of USD 2.74 million a year ago. Basic loss per share from continuing operations was USD 2.18 compared to basic earnings per share from continuing operations of USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 2.18 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago.
For the nine months, net interest income was USD 71.28 million compared to USD 76.44 million a year ago. Net loss was USD 46.01 million compared to net income of USD 21.61 million a year ago. Basic loss per share from continuing operations was USD 2.42 compared to basic earnings per share from continuing operations of USD 1.13 a year ago. Basic loss per share was USD 2.42 compared to basic earnings per share of USD 1.15 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.
BLUE RIDGE BANKSHARES, INC. 
