Blue Ridge Bankshares Reports Q2 Net Loss Amid Loan Growth and Expense Reduction
Blue Ridge Bankshares Inc (NYSE American: BRBS) reported a net loss of $0.2 million for the second quarter ended June 30, 2026, compared to a net income of $0.8 million in the prior quarter. The decline was primarily driven by an after-tax provision for credit losses totaling $2.1 million and severance expenses amounting to $0.3 million. Despite this loss, pre-tax, pre-provision income improved by 30% year-over-year to $2.9 million. The company noted a return of loan growth at a 4% annualized rate for the quarter, driven largely by its refocused community banking strategy and healthier local economic conditions. Management also highlighted improvements in deposit mix and continued cost control measures as contributing factors to better earnings performance before provisions and expenses. Interim CEO Harry Golliday expressed optimism about future results due to recent expense reduction actions expected to benefit the second half of 2026.
Tickers: $BRBS
Topics: credit losses provision loan nonaccrual net loss severance expenses