Blue Ridge Bankshares, Inc. entered into a definitive merger agreement with HomeTrust Bancshares, Inc., under which Blue Ridge will be acquired in an all-stock transaction valued at approximately $448.1 million. Each share of Blue Ridge common stock converts to 0.086 shares of HomeTrust common stock plus cash for fractional shares, representing $4.28 per share based on a five-day VWAP of $49.82. The combined entity will hold over $7 billion in assets and more than 60 locations across the Southeast. Blue Ridge shareholders are expected to own approximately 35% of the merged company, while HomeTrust stockholders will retain roughly 65%. The transaction is anticipated to close in early Q1 2027, subject to regulatory and shareholder approvals. Blue Ridge Bankshares operates as a regional commercial bank holding company providing retail and commercial banking services.

Blue Ridge Bankshares filed an amendment to its Q2 2026 earnings report to revise financial results following a borrower's cessation of operations. The company increased its specific loan loss reserve by $2.9 million on the $11.4 million exposure, resulting in a $1.4 million increase in the provision for credit losses and an approximately $1.1 million increase in net loss for the quarter ended June 30, 2026. The revised report shows a net loss of $1.3 million, or ($0.01) per diluted share, compared to the previously reported net income of $0.8 million. Blue Ridge Bankshares operates as a bank holding company providing retail and commercial banking services.

Effective June 30, 2026, Blue Ridge Bankshares, Inc. will eliminate the position of Chief Operations and Technology Officer and terminate the employment of M. Dean Brown without cause as part of cost reduction efforts. Mr. Brown will cease to hold all officer and fiduciary positions with the company and its subsidiary, Blue Ridge Bank, National Association, on that date. The company operates in the financial services industry as a bank holding company.