Blue Ridge Bankshares reports Q4 EPS 3c vs. 1c last year

Reports Q4 tangible book value per share $3.82. Reports Q4 CET1 capital ratio 17.24%. Reports Q4 net charge-offs .36%. The company said, “With respect to our regulatory remediation work, I am pleased to say that as of the end of 2024, we had exited 45 fintech banking-as-a-service depository partnerships in an orderly wind down as to not adversely impact the many customers attained through these relationships. In doing so, we reduced deposits from these sources by $445 million. Over the same period, we reduced our dependency on wholesale funding by nearly $113 million. To meet these obligations, our team selectively reduced out-of-market loans, sold non-core assets, and grew deposits in the Bank’s primary footprint by approximately $172 million.”