Blue Ridge Bankshares, Inc. (OTC Pink: BRBS)

Blue Ridge Bankshares, Inc. (OTC Pink: BRBS), parent company of Blue Ridge Bank, N.A., declared recently its unaudited fiscal results for the 3rd-quarter finished September 30, 2k19. The Company stated net income of $4,070,745.00 for the 1st-nine months of 2k19, or $1.010 for each common share, contrast to net income of $3,587,096.00, or $1.290 for each common share for the 1st-nine months of 2k18. Included in year to date earnings is the recognition of life insurance proceeds of about $700.00k and merger related costs of about $865.00k. Earnings for the 3rd-quarter ending September 30, 2k19 were $1,253,139.00, or $0.290 for each common share, and included merger related costs of $331.00k. The Company declared a dividend of $0.1425 during the 3rd-quarter of 2k19, a boost of 1.790 percent contrast to the 2k18 3rd-quarter dividend of $0.1400. The dividend yield is 2.750 percent based on the closing October 31, 2k19 share price of $20.750.
Asset growth since the 3rd-quarter of 2k18 has been considerable for the Company, with total assets increasing $242.90M, or 49.20 percent. This growth was mainly driven by an increasing loan portfolio with loans held for investment growing $84.80M, or 22.60 percent, and loans held for sale growing $51.90M, or 183.40 percent contrast to September 30, 2k18. The investment portfolio also increased significantly as noted in our prior release, growing $86.70M, or 154.70 percent. Deposit growth since the 3rd-quarter of 2k18 amounted to $127.30M, or 32.40 percent, which included growth of $2.70M, or 3.120 percent in noninterest demand deposits. Asset growth during 3rd-quarter of 2k19 was $14.50M, or 2.0 percent, counting growth of $8.60M, or 1.90 percent in held for investment loans, and $18.30M, or 29.50 percent in loans held for sale. Deposit growth during the 3rd-quarter of 2k19 amounted to $21.30M, or 4.30 percent, counting growth of $3.50M, or 4.0 percent in noninterest demand deposits.

Leave a Reply

Your email address will not be published. Required fields are marked *