Blue Ridge Bankshares Files Amendment to Annual Report

TL;DR

<b>Blue Ridge Bankshares, Inc. has filed an amendment to its 2023 annual report on Form 10-K/A.</b>

AI Summary

BLUE RIDGE BANKSHARES, INC. (BRBS) filed a Amended Annual Report (10-K/A) with the SEC on April 29, 2024. Blue Ridge Bankshares, Inc. filed a Form 10-K/A (Amendment No. 1) on April 29, 2024. The amendment pertains to the fiscal year ended December 31, 2023. The company's common stock trades under the symbol BRBS on the NYSE American exchange. Blue Ridge Bankshares, Inc. is incorporated in Virginia and has its principal executive offices in Charlottesville. The filing indicates the company is not a well-known seasoned issuer and is not required to file reports under Section 13 or 15(d) of the Act for a shorter period.

Why It Matters

For investors and stakeholders tracking BLUE RIDGE BANKSHARES, INC., this filing contains several important signals. This amendment provides updated or corrected information for the fiscal year ending December 31, 2023, which is crucial for investors to have the most accurate financial and operational data. As a publicly traded entity on the NYSE American, timely and accurate filings are essential for maintaining market confidence and regulatory compliance.

Risk Assessment

Risk Level: low — BLUE RIDGE BANKSHARES, INC. shows low risk based on this filing. The filing is an amendment to a previous report, suggesting a correction or update rather than a new material event, thus posing a low risk.

Analyst Insight

Review the specific changes made in Amendment No. 1 to the 10-K filing to understand any updated financial details or disclosures for Blue Ridge Bankshares, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported Fiscal Year)
• 2024-04-29 — Filing Date (Date of 10-K/A Filing)
• 001-39165 — Commission File Number (SEC File Number for BRBS)

Key Players & Entities

• BLUE RIDGE BANKSHARES, INC. (company) — Registrant Name
• BRBS (company) — Trading Symbol
• NYSE American (company) — Exchange
• Virginia (company) — State of Incorporation
• 2024-04-29 (date) — Filing Date
• 2023-12-31 (date) — Fiscal Year End

FAQ

Industry Context

Blue Ridge Bankshares, Inc. operates within the commercial banking sector, providing financial services.

Regulatory Implications

The company is subject to regulations by the U.S. Securities and Exchange Commission (SEC) for its public filings.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing.
2. Verify the accuracy of financial data and disclosures for the fiscal year 2023.
3. Monitor future filings for any further updates or significant developments.

Key Dates

• 2024-04-29: Filing of Form 10-K/A (Amendment No. 1) — Provides updated information for the fiscal year ended December 31, 2023.

Year-Over-Year Comparison

This is an amendment (10-K/A) to the previously filed annual report for the fiscal year ended December 31, 2023.

Key Financial Figures

• $200 million — ago, growing the business to more than $200 million prior to selling the company to a priva
• $7million — ersonnel with revenues of approximately $7million. Mr. Patterson's career began with the
• $180 million — e, he grew the bank's total assets from $180 million to $8.5 billion and created a total sha
• $8.5 billion — ank's total assets from $180 million to $8.5 billion and created a total shareholder return

Filing Documents

• d819189d10ka.htm (10-K/A) — 339KB
• d819189dex104.htm (EX-10.4) — 77KB
• d819189dex313.htm (EX-31.3) — 3KB
• d819189dex314.htm (EX-31.4) — 3KB
• 0001193125-24-122209.txt (&nbsp;) — 703KB
• brbs-20231231.xsd (EX-101.SCH) — 4KB
• brbs-20231231_cal.xml (EX-101.CAL) — 1KB
• brbs-20231231_def.xml (EX-101.DEF) — 17KB
• brbs-20231231_lab.xml (EX-101.LAB) — 23KB
• brbs-20231231_pre.xml (EX-101.PRE) — 18KB
• d819189d10ka_htm.xml (XML) — 8KB

of Part IV also has been amended to include or incorporate by reference into this Form 10-K/A

Item 15 of Part IV also has been amended to include or incorporate by reference into this Form 10-K/A certain exhibits relating to the Company's private placement of securities as previously reported under a Current Report on Form 8-K filed with the SEC on April 5, 2024 and an agreement with one of the Company's named executive officers. Except as described above, this Form 10-K/A does not amend any other information set forth in the Form 10-K, and the Company has not updated disclosures included therein to reflect any subsequent events. This Form 10-K/A should be read in conjunction with the Form 10-K and with the Company's filings with the SEC subsequent to the Form 10-K. 1 PART III Item 10: Directors, Executive Officers and Corporate Governance 3 Item 11:

Executive Compensation

Executive Compensation 9 Item 12:

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 18 Item 13: Certain Relationships and Related Transactions, and Director Independence 21 Item 14: Principal Accountant Fees and Services 21 PART IV Item 15: Exhibits and Financial Statement Schedules 22 2 PART III ITEM10: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE Board of Directors General . The business and affairs of the Company are managed under the direction of the Company's Board of Directors (the "Board") in accordance with the Virginia Stock Corporation Act and the Company's articles of incorporation and bylaws. Members of the Board are kept informed of the Company's business through discussions with the Chairman of the Board, the President and Chief Executive Officer and other officers, by reviewing materials provided to them and by participating in meetings of the Board and its committees. The following biographical information discloses each director's age and business experience, including the specific skills or attributes that qualify each director for service on the Board, and the year that each individual was first elected to the Board. Class I Directors (Term Expiring 2024) Hunter H. Bost , 57, has served as a director of the Company since 2016. He is a private investor and real estate developer based in Durham, North Carolina. Previously, Mr. Bost served on the boards of directors of River Bancorp, Inc. ("River") and its subsidiaries, River Community Bank and 1st Medallion Mortgage Corporation, prior to River's merger with the Company in 2016. He also served as Chairman of River. Mr. Bost spent over 10 years in New York at Electra Partners, Merrill Lynch, and Price Waterhouse (now PwC). He has served on several non-profit boards, including Hbitat Para La Humanidad Guatemala, Mathkind, and both the Board of Visitors and the International Studies Advisory Board at the University of North Carolina at Chapel Hill.

View Full Filing

View this 10-K/A filing on SEC EDGAR