Blue Ridge Bankshares, Inc. Releases 2016 Earnings

LURAY, Va., Jan. 31, 2017

During the 4^th quarter of 2016, the Company acquired River Bancorp, Inc. and its wholly-owned subsidiary River Community Bank, N.A.  This merger resulted in an addition of approximately $114 million in assets, of which $90 million includes held for investment loans, approximately $97 million in total deposits, including $16 million in noninterest bearing deposits, and approximately $9 million in additional capital.  Transaction costs related to the merger resulted in $1.9 million of additional expenses, the primary reason for the significant decline in earnings for 2016 compared to 2015. Prior to the merger, the Company experienced asset growth of approximately $35.0 million, or 13.1%, and surpassed $300 million in total assets in October 2016.  This asset growth was largely fueled by growth in the Company's held for investment loan portfolio of $22.5 million or 10.9%. Additionally, prior to the merger, the Company's deposit portfolio grew approximately $42.2 million, or 21.1%.

Financial Highlights (Unaudited)			Year Ended
			12/31/2016	12/31/2015 ARIVA.DE Börsen-Geflüster Kurse Blue Ridge Bankshare 2,70 $ 0,00%
(Dollars in thousands, except per share data)
Net income		$	689	2,498
Net income available to common stockholders		$	689	2,453
Earnings per Common Share		$	0.46	1.79
Dividend per Common Share		$	0.1175	0.1150
Key Ratios
Total stockholders' equity to assets			8.04%	8.96%
Common stockholders' equity to assets			8.04%	8.96%
Net Interest Margin (bank level at year end)			4.04%	3.80%
Return on Average Assets			0.20%	0.98%
Return on Average Equity			2.39%	10.22%
			Balance At
			12/31/2016	12/31/2015
Total assets		$	418,124	268,910
Net loans held for investment		$	317,614	204,937
Deposits		$	340,874	196,492
Total stockholders' equity		$	33,627	24,101
Common stockholders' equity		$	33,627	24,101
Book value per common share		$	18.43	17.20
Number of common stock shares outstanding			1,824,757	1,401,511

"Last year was a significant and meaningful one for our Company. We successfully completed the acquisition of River Bancorp, Inc. and the merger of Blue Ridge Bank and River Community Bank, N.A.," stated Chief Executive Officer Brian K. Plum. "Costs related to the merger led to an anticipated decrease in net income for the year.  Even in the midst of the merger activities, we continued to make solid progress in each of our markets on the loan and deposit fronts," Plum added.   "We are excited to be serving new customers and communities with the enhanced Blue Ridge team and we believe the Company is well-positioned to offer its customers and shareholders enhanced value moving forward."

About Blue Ridge Bankshares, Inc.
Blue Ridge Bankshares, Inc. is a single-bank holding company headquartered in Luray, VA. Chartered in 1893 as the Page Valley Bank of Virginia, today Blue Ridge Bank, N.A. has additional branches in Charlottesville, Drakes Branch, Harrisonburg, Martinsville, McGaheysville, Shenandoah, Stanleytown, and Stuart. The Bank also has mortgage operations in Virginia and North Carolina. Celebrating 124 years as a locally owned, independent community bank, Blue Ridge Bank, N.A. provides a wide range of financial services.  Visit www.mybrb.com for more information.

Forward-Looking Statements
This press release may contain "forward-looking statements" as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in interest rates, general economic conditions and legislative and regulatory policies. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this news release.

BLUE RIDGE BANKSHARES, INC.
CONSOLIDATED BALANCE SHEETS
		(Unaudited)			(Audited)
		December 31,			December 31,
ASSETS		2016			2015
Cash and due from banks	$	14,098,449		$	7,265,264
Federal funds sold		1,726,000			582,000
Investment securities		42,607,381			37,957,139
Loans held for sale		24,655,901			9,314,638
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