Blue Ridge Bankshares Reports Improved Q1 2025 Results

Blue Ridge Bankshares ( (BRBS) ) has released its Q1 earnings. Here is a breakdown of the information Blue Ridge Bankshares presented to its investors.

Blue Ridge Bankshares, Inc. is a financial services holding company that operates through its subsidiaries, Blue Ridge Bank and BRB Financial Group, providing a range of services including retail and commercial banking, investment, and wealth management. The company is based in Richmond, Virginia, and is listed on the NYSE American under the ticker BRBS.

In its first quarter of 2025, Blue Ridge Bankshares reported a net loss of $0.4 million, a significant improvement from the previous quarter’s loss of $2.0 million. The company highlighted progress in improving its net interest margin and reducing noninterest expenses, alongside continued efforts in regulatory remediation.

Key financial metrics for the quarter included a net interest income of $19.0 million and a net interest margin improvement to 2.90%. The company also reported a reduction in noninterest expenses to $23.0 million, down from $25.6 million in the previous quarter, driven by lower salaries and benefits due to workforce reductions. The sale of its mortgage division, Monarch Mortgage, resulted in a $0.2 million loss.

The company has been focusing on operational efficiencies and returning to its roots in community banking, with a strategic exit from fintech banking-as-a-service operations. This transition is expected to yield cost savings and enhance profitability. The company also reported improvements in capital ratios, reflecting a stronger financial position.

Looking ahead, Blue Ridge Bankshares is optimistic about returning to sustainable profitability, with a focus on growing core deposits and loans within its community banking footprint. The management remains committed to achieving operational efficiency and compliance with regulatory requirements.