PR Newswire
LURAY, Va., July 30, 2018
LURAY, Va., July 30, 2018 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (OTC Pink: BRBS), parent company of Blue Ridge Bank, N.A., announced today its unaudited financial results for the second quarter ended June 30, 2018. The Company reported net income of $2,317,437 for the first six months of 2018, or $0.84 per common share, compared to 2017 net income of $1,902,860, or $0.70 per common share. The Company declared a dividend of $0.14 during the second quarter of 2018, which is an increase of 75% compared to the 2017 second quarter dividend of $0.08. The dividend yield is 2.77% based on the closing July 27, 2018 share price.
The Company experienced significant asset growth of $58.8 million, or 14.6%, since the second quarter of 2017, which was largely attributable to growth in the held-for-investment loan portfolio of $53.8 million, or 17.8%. Additionally, the Company's deposit portfolio grew $30.9 million or 9.3%, since the second quarter of 2017, which included growth of $6.6 million, or 10.9%, in noninterest demand deposits. Asset growth during the second quarter of 2018 was $18.6 million, or 4.2%, which included growth in the held-for-investment loan portfolio of $14.5 million, or 4.2%. Deposit growth during the second quarter of 2018 amounted to $5.1 million, or 1.4%, of which $2.2 million, or 3.3% was attributable to growth in noninterest demand deposits.
| | | | | | | | |
Financial Highlights (Unaudited) | | | Three Months Ended | | | Six Months Ended | ||
| | | 6/30/2018 | 6/30/2017 | | | 6/30/2018 | 6/30/2017 |
(Dollars in thousands, except per share data) | | | | | | | | |
Net income | | $ | 1,129 | 1,270 | | $ | 2,317 | 1,903 |
Net income available to common stockholders | | $ | 1,135 | 1,270 | | $ | 2,311 | 1,903 |
Earnings per Common Share | | $ | 0.41 | 0.45 | | $ | 0.84 | 0.70 |
Dividend per Common Share | | $ | 0.14 | 0.08 | | $ | 0.26 | 0.16 |
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Key Ratios | | | | | | | | |
Total stockholders' equity to assets | | | 8.23% | 8.77% | | | 8.23% | 8.77% |
Common stockholders' equity to assets | | | 8.19% | 8.77% | | | 8.19% | 8.77% |
Net Interest Margin (bank level) | | | 3.88% | 3.82% | | | 4.08% | 4.02% |
Return on Average Assets (annualized) | | | 1.05% | 1.48% | | | 1.07% | 1.11% |
Return on Average Equity (annualized) | | | 12.33% | 16.85% | | | 12.66% | 12.63% |
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| | | Balance At | | | | | |
| | | 6/30/2018 | 6/30/2017 | | | | |
Total assets | | $ | 460,918 | 402,243 | | | | |
Net loans held for investment | | $ | 353,242 | 300,222 | | | | |
Deposits | | $ | 362,778 | 331,830 | | | | |
Total stockholders' equity | | $ | 37,936 | 35,295 | | | | |
Common stockholders' equity | | $ | 37,730 | 35,295 | | | | |
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Book value per common share | | $ | 13.66 | 12.89 | | | | |
Tangible book value per common share | | $ | 12.41 | 11.73 | | | | |
Number of common stock shares outstanding | | | 2,761,135 Werbung Mehr Nachrichten zur Blue Ridge Bankshare Aktie kostenlos abonnieren
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