Blue Ridge Bankshares, Inc.

Overview

Virginia-based bank holding company headquartered in Richmond, VA.
Owns two primary subsidiaries:
- Blue Ridge Bank, National Association — a federally chartered national bank.
- BRB Financial Group, Inc. — wealth and trust management subsidiary.
The Bank traces its roots to Page Valley Bank of Virginia (founded 1893). The Bank’s main office is in Martinsville, VA.
As of December 31, 2025, the Bank operates 27 full-service banking offices across Virginia and into central North Carolina.

Primary activities include commercial and consumer banking, deposit-taking, loan origination, and related services.
Deposit products: checking, savings, money market, cash management, certificates of deposit, and individual retirement accounts.
Lending: commercial and industrial loans, residential mortgages, commercial mortgages, home equity loans, consumer installment loans, and credit cards.
Digital banking: online, telephone, and mobile banking channels.
Wealth, trust and insurance-related services:
- Deposits are insured by the FDIC within applicable DIF limits.
- BRB Financial Group provides wealth and trust management services, including estate planning, estate settlement, trust administration, and related life insurance products.
- Minority investment in Hammond Insurance Agency, Incorporated for property and casualty insurance services.
Revenue model:
- Primary source: interest income from lending activities.
- Other sources: interest and dividend income from investments; interest from interest-earning deposits at other banks; fee income from lending and deposit activities; and income from wealth and trust management services.

Previously engaged in banking-as-a-service (BaaS) depository operations; exited those depository operations in 2024 and had no active end-users via fintech channels as of December 31, 2025.
Indirect fintech lending: the Bank sources loans via fintech partners, originates the loans, and those loans are generally purchased by the fintech partner or a third party within about three days of origination.
As of December 31, 2025, indirect fintech lending services were conducted through Upgrade, Inc.
As of December 31, 2024, indirect fintech lending had involved Upgrade, Inc., Best Egg, Inc., Kashable, LLC, and Grow Credit, Inc.; the Company has been terminating those relationships and expects to complete exits in 2026.

In 2025 the Bank operated under a Consent Order issued by the OCC on January 24, 2024, addressing fintech operations and risk controls related to fintech partnerships. Requirements included strategic and capital planning and maintaining minimum capital ratios (10% leverage ratio and 13% total capital ratio).
The OCC issued an Order terminating the Consent Order effective November 13, 2025.

Special cash dividend announced October 27, 2025: $0.25 per share, totaling approximately $29.1 million. Of this, $22.6 million was paid on November 21, 2025 to shareholders of record as of November 7, 2025; the remaining $6.5 million is recorded as a liability and will be paid if warrants are exercised and performance-based restricted stock awards vest.
Share repurchase program adopted August 25, 2025, authorizing up to $15.0 million to repurchase common stock (open market, block trades, or privately negotiated transactions, including upon exercise of outstanding warrants).
2025 repurchase activity:
- Reacquired 802,735 shares at a weighted average price of $4.17 per share, totaling $3.4 million.
- Reacquired outstanding warrants to purchase 3,229,000 shares at a weighted average price of $1.90 per warrant, totaling $6.1 million.

Geographic footprint spans the Shenandoah Valley, the Piedmont region, Richmond, coastal Virginia, Hampton Roads, and central North Carolina.
Main office in Martinsville, VA, with origins dating to 1893.
Strategic focus on traditional banking, wealth management, and selective insurance services, with a planned wind-down of indirect fintech-related depository operations and related lending activities through 2026.