Earnings ·
Reports Q3 net loss of $4.2M as credit provisions rise to $8.0M
BRBSBlue Ridge Bankshares, Inc.
Blue Ridge Bankshares reported a third-quarter net loss of $4.2 million, or ($0.05) per diluted share, compared to a $1.3 million loss in the prior quarter and $5.6 million income year-ago. The deterioration was driven by an after-tax provision for credit losses of $6.6 million, primarily linked to a single out-of-market hydroponic farming borrower, alongside $0.9 million in merger-related expenses. Adjusted pre-tax earnings improved 85% sequentially to $5.3 million due to expanded net interest margin and lower operating costs. The company is also advancing its pending merger with HomeTrust Bancshares, expected to close in early 2027. Blue Ridge Bankshares operates as a community bank holding company providing retail and commercial banking services.