BRBS

EX-99.1

2 brbs-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Blue Ridge Bankshares, Inc. Announces 2026 Third Quarter Results

Expanded Net Interest Margin and Lower Operating Expenses Drove Improved Operating Performance

RICHMOND, VA, October 26, 2026 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the “Company”) (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association (“Blue Ridge Bank” or the “Bank”) and BRB Financial Group, Inc., today announced financial results for the quarter ended September 30, 2026.

For the quarter ended September 30, 2026, the Company reported a net loss of $4.2 million, or ($0.05) per diluted common share, compared to a net loss of $1.3 million, or ($0.01) per diluted common share, for the quarter ended June 30, 2026, and net income of $5.6 million, or $0.06 per diluted common share, for the quarter ended September 30, 2025. Net loss for the third and second quarters of 2026 included an after-tax provision for credit losses of $6.6 million and $3.2 million, respectively, while the quarter ended September 30, 2025 included an after-tax recovery of credit losses of $1.4 million. Provision for credit losses in the 2026 periods was primarily due to loans associated with a single out-of-market relationship originated prior to 2024. Net loss for the third quarter of 2026 also included after-tax merger-related expenses of $0.9 million.

Excluding merger-related and severance expenses, pre-tax, pre-provision income ("Adjusted Pre-tax Earnings") for the third quarter of 2026 improved to $5.3 million1 compared to $2.9 million1 for the second quarter of 2026.

On August 17, 2026, the Company and HomeTrust Bancshares, Inc. ("HomeTrust") jointly announced that the companies had entered into a definitive merger agreement, whereby the Company and the Bank would merge with and into HomeTrust and HomeTrust Bank, respectively (the "HomeTrust Merger"). Pending required approvals, including approvals by the shareholders of both companies, the HomeTrust Merger is anticipated to close in the first quarter of 2027. Merger-related expenses for the third quarter of 2026 were $1.2 million ($0.9 million after-tax).

For the nine months ended September 30, 2026, the Company reported a net loss of $4.6 million, or ($0.05) per diluted common share, compared to net income of $6.5 million, or $0.07 per diluted common share, for the same period of 2025. Net loss for the nine months ended September 30, 2026 included an after-tax provision for (recovery of) credit losses, severance expenses, and merger-related expenses of $9.3 million, $1.7 million, and $0.9 million, respectively, compared to ($2.0) million, $0.9 million, and $0, respectively, for the same period of 2025. Adjusted Pre-tax Earnings for the nine months ended September 30, 2026 and September 30, 2025 were $10.3 million1 and $7.0 million1, respectively.

''With the regulatory consent order lifted in late 2025, our focus this year turned to soundness, profitability, and growth in our core community bank markets. Our third quarter results reflect continued quarterly improvements in loan growth, loan yields, deposit mix, and noninterest

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expense discipline. In addition, we further de-risked the balance sheet with a substantial charge-off on a legacy out-of-footprint relationship operating in the hydroponic farming business," commented Harry Golliday, interim president and chief executive officer.

Q3 2026 Highlights

(Comparisons for Third Quarter 2026 are relative to Second Quarter 2026 unless otherwise noted.)

Net Income / Loss:

• Net loss for the quarter was $4.2 million, or ($0.05) per diluted common share, compared to a net loss of $1.3 million, or ($0.01) per diluted common share, for the prior quarter.

• For the quarter, pre-tax provision for credit losses, merger-related expenses, and severance expenses were $8.5 million, $1.2 million, and $0, respectively, compared to $4.1 million, $0, and $0.4 million, respectively, for the prior quarter.

• Adjusted Pre-tax Earnings were $5.3 million1 and $2.9 million1 for the sequential quarters, an improvement of approximately 85%.

Net Interest Income / Net Interest Margin ("NIM"):

• Net interest income totaled $17.4 million and $16.5 million for the third and second quarters, respectively, an increase of $0.9 million. Interest income increased by $0.5 million in the quarter, primarily due to higher yields on and higher average balances of loans held for investment. Average balances of loans held for investment increased $44.8 million in the current quarter. Interest expense declined by $0.3 million from the prior quarter, primarily due to the reduction of higher cost time deposits, including brokered deposits.

• Yields on loans held for investment were 5.64% and 5.54% for the third and second quarters, respectively, of which accretion of discounts on acquired loans contributed a positive 6 and 3 basis points, respectively.

• Cost of deposits declined 3 basis points to 2.22%

EX-99.1

2 brbs-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Blue Ridge Bankshares, Inc. Announces Revised 2026 Second Quarter Results

Loan Growth Returns, Improved Deposit Mix, and Continued Reduction in Operating Expenses

RICHMOND, VA, August 10, 2026 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the “Company”) (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association (“Blue Ridge Bank” or the “Bank”) and BRB Financial Group, Inc., today announced revised financial results for the quarter ended June 30, 2026.

Subsequent to the original report of the Company's financial results on July 28, 2026, a commercial borrower with loans outstanding totaling $11.4 million reported that its business had ceased operations. The Company evaluated this subsequent development and, as a result, revised its estimate of expected credit losses associated with the loans. The revised estimate is reflected in the Company's consolidated financial results herein as of and for the three and six months ended June 30, 2026.

For the quarter ended June 30, 2026, the Company reported a net loss of $1.3 million, or ($0.01) per diluted common share, compared to net income of $0.8 million, or $0.01 per diluted common share, for the quarter ended March 31, 2026, and net income of $1.3 million, or $0.01 per diluted common share, for the quarter ended June 30, 2025. Net loss for the second quarter of 2026 included an after-tax $3.2 million provision for credit losses, compared to an after-tax benefit for recovery of credit losses of $0.5 million for both the first quarter of 2026 and second quarter of 2025. Loans from a single out-of-market relationship originated prior to 2024 were placed on nonaccrual at June 30, 2026, and a reserve was established for the loan in the amount of $2.9 million ($2.3 million after tax). Net loss for the second quarter of 2026 also included $0.3 million of after-tax expenses related to severance, compared to $1.3 million and $0.2 million for the first quarter of 2026 and second quarter of 2025, respectively. Severance expenses include amounts associated with previously-announced executive officer transitions.

Excluding severance expense, pre-tax, pre-provision income for the second quarter of 2026 improved to $2.9 million1 compared to $2.2 million1 and $1.4 million1 for the first quarter of 2026 and second quarter of 2025, respectively.

For the first half of 2026, the Company reported a net loss of $0.5 million, or ($0.01) per diluted common share, compared to net income of $0.9 million, or $0.01 per diluted common share for the first half of 2025. Net loss for the 2026 period included after-tax severance expenses of $1.7 million compared to $0.8 million for the first half of 2025.

"After a couple years of de-risking the balance sheet and returning our focus 100% to our community banking customers and prospects, I am pleased to report a 4% annualized loan growth rate for the second quarter. This loan growth, combined with modestly improved margins from a more favorable deposit mix and continued discipline in right-sizing our expense base,

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resulted in improved earnings this quarter on a pre-tax, pre-provision basis," commented Harry Golliday, interim president and chief executive officer.

"We continue to have healthy economic conditions in our local markets driving business owners to invest and consumers to spend, and, as a result, our loan and deposit pipelines are encouraging. In addition, results of this quarters' expense reduction actions will be realized in the second half of 2026."

Q2 2026 Highlights

(Comparisons for Second Quarter 2026 are relative to First Quarter 2026 unless otherwise noted.)

Net Income:

• Net loss for the quarter was $1.3 million, or ($0.01) per diluted common share, compared to net income of $0.8 million, or $0.01 per diluted common share, for the prior quarter. After-tax severance expense and provision for (recovery of) credit losses were $0.3 million and $3.2 million, respectively, for the quarter, compared to $1.3 million and ($0.5) million, respectively, for the prior quarter.

• Excluding severance expense, pre-tax, pre-provision income was $2.9 million1 and $2.2 million1 for the sequential quarters, a 30% improvement.

Net Interest Income / Net Interest Margin:

• Net interest income totaled $16.5 million and $16.9 million for the second and first quarters, respectively. Interest income decreased by $0.5 million in the quarter, primarily due to the decline in average balances of loans held for investment, loans held for sale, and interest-earning deposits in other banks, which collectively declined $45.7 million from the prior quarter. Yields on loans held for investment were 5.54% and 5.50% for the second and first quarters, respectively. Interest expense declined by $0.2 million for the quarter, largely driven by lower average balances of brokered deposits, which declined $23.0 million from the prior quarter. Cost of deposits declined two b

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