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BRBS-News
BRBS-Events
Net Interest Income for Q2 2026 at $16.5 Million
Net interest income was $16.5 million for the second quarter of 2026, compared to $16.9 million and $19.8 million for the first quarter of 2026 and the second quarter of 2025, respectively. Relative to the prior quarter, the decrease reflected primarily lower income from and average balances of loans held for investment, while relative to the year-ago period, the decrease reflected lower average balances of loans held for investment and loans held for sale. Interest expense declined by $0.2 million and $2.6 million in the second quarter of 2026, compared to the first quarter of 2026 and the second quarter of 2025, respectively, primarily driven by lower average balances of brokered deposits.
Blue Ridge Bank Reports Fourth Consecutive Profitable Quarter
"On behalf of our 281 Blue Ridge Bank employees, I am pleased to report a fourth consecutive profitable quarter on the strategic journey back to our community banking roots," commented Harry Golliday, interim president and chief executive officer. "As in the prior quarter, our results reflect the impact of separation, severance, and incentive-related expenses, as well as the ongoing reduction of non-strategic loans outside of our local banking footprint-actions that weighed on near-term results but enhance the core earnings power of the community banking franchise. We continue to execute on noninterest expense reduction initiatives to more closely align these expenses with our community banking model. Headcount, a major driver of our noninterest expense, has been reduced by 70, or 20%, since the end of the first quarter of 2025. Results of additional initiatives will be realized in the second half of 2026. This quarter was also our first full quarter of operations after release last November from the regulatory consent order. The improved regulatory standing and lower capital requirements provided flexibility for another special dividend declared on March 30. In addition, we have been able to turn even greater attention to sound growth initiatives and are pleased to see increasing loan and deposit pipelines."
Blue Ridge Bankshares Announces William Beale's Retirement, Harry Golliday as Interim CEO
Blue Ridge Bankshares announced the retirement of William Beale from the company and the Bank, effective March 6. Beale joined the Bank as CEO on May 7, 2023, and was appointed President and CEO of the company effective July 12, 2023. The respective Boards of Directors have appointed Harry Golliday, EVP and Chief Credit Officer, as Interim CEO and President of the Company, and Interim CEO of the Bank. Golliday has over four decades of experience in the financial services industry, including serving as the company's Chief Credit Officer since January 2024. Prior to joining the company, Golliday served in leadership roles with CapitalOne Bank and SunTrust, after starting his career as a corporate banker with Wachovia.
Blue Ridge Bankshares Declares Special Cash Dividend of $0.25 per Share
Blue Ridge Bankshares announces that its Board of Directors has declared a special cash dividend of 25c per share of the company's common stock. The dividend is payable on November 21 to shareholders of record as of the close of business on November 7.
Blue Ridge Bankshares greenlights $15 million stock buyback initiative
Blue Ridge Bankshares announced that its Board of Directors has adopted a share repurchase program. Pursuant to the Repurchase Program, the Company may purchase up to $15M of the Company's issued and outstanding shares of common stock. Repurchases may be made in open market purchases, block trades, or privately negotiated transactions.
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