Blue Ridge Bankshares, Inc. Releases 2017 1st Quarter Results

LURAY, Va., April 28, 2017

The first quarter of 2017 represented the first full quarter of activity since the acquisition of River Bancorp, Inc. and its wholly-owned subsidiary River Community Bank, N.A. was completed. In addition to net income growth of 20.7%, the Company experienced asset growth 47.6% since the first quarter of 2016, of which approximately $114 million was due to the merger.  Outside of the merger, the Company's total asset growth is largely fueled by growth in the Company's held-for-investment loan portfolio, which continues to reflect a portfolio of strong asset quality. The Company has also experienced meaningful growth in total deposits, increasing 58.4% since the first quarter of 2016, of which approximately $97 million was related to the merger. Strong deposit growth continues to be a significant focus for the Company and we see great opportunity in our current footprint to accomplish this goal.

Financial Highlights (Unaudited)			Three Months Ended
			3/31/17 ARIVA.DE Börsen-Geflüster Kurse Blue Ridge Bankshare 2,51 $ -2,33%	3/31/16
(Dollars in thousands, except per share data)
Net income		$	633	524
Net income available to common stockholders		$	633	524
Earnings per Common Share		$	0.35	0.37
Dividend per Common Share		$	0.1200	0.1175
Key Ratios
Total stockholders' equity to assets			8.47%	9.05%
Common stockholders' equity to assets			8.47%	9.05%
Net Interest Margin (bank level)			4.01%	3.79%
Return on Average Assets (annualized)			0.75%	0.81%
Return on Average Equity (annualized)			8.63%	8.11%
			Balance At
			3/31/17	3/31/16
Total assets		$	401,653	272,214
Net loans held for investment		$	306,827	205,321
Deposits		$	332,312	209,733
Total stockholders' equity		$	34,037	24,645
Common stockholders' equity		$	34,037	24,645
Book value per common share		$	18.65	17.58
Number of common stock shares outstanding			1,824,757	1,401,511

"I am very confident about our current performance and where we are headed as a Company. We remain committed to taking care of our existing customers and building new customer relationships," stated Chief Executive Officer Brian K. Plum. "Since the bank-level merger didn't close until December 2016, we only started to realize synergies in the 1^st quarter of 2017 as we ensured a smooth transition for customers and operations into the combined company. We expect to show more benefit from those synergies in the 2^nd quarter of 2017 and moving forward.  Additionally, we expect to see a rebound in the mortgage business contribute to additional earnings over the balance of the year, which, combined with growth in our commercial bank footprint, creates what we think will be a good profile for the Company to provide an attractive earnings profile and shareholder return."

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)			(Unaudited)
		March 31,			March 31,
ASSETS		2017			2016
Cash and due from banks	$	18,682,470		$	6,263,504
Federal funds sold		1,399,000			1,095,000
Investment securities		41,070,840			37,387,761
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