Blue Ridge Bankshares, Inc. Reports Third Quarter Earnings

LURAY, Va., Oct. 24, 2013

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The company experienced asset growth of $3,700,000—or 1.78 percent—during the first three quarters of the year, and its held-for-investment loan portfolio grew $23,084,000—or 18.16 percent—during the period. Meanwhile, the company experienced a decline in loans held-for-sale of $10,793,000 during the period.

"Blue Ridge Bank has experienced significant held-for-investment loan growth this year," said President and Chief Executive Officer Monte L. Layman. "These loans continue to be underwritten with the caution and prudence that allow the bank to enjoy very favorable asset quality numbers relative to its peer group."

"The overall increase in the balance sheet has been much smaller than held-for-investment loan growth, as the bank saw a reduction in held-for-sale mortgages commensurate with the national mortgage decline and reduced its investment portfolio to fund loan growth and better manage interest rate risk," Layman said. "I'm very excited about the increase in lending activity—it's a positive for our communities and also represents significant referrals from current customers who enjoy the Blue Ridge Bank experience enough to send others our way."

About Blue Ridge Bankshares, Inc.

Blue Ridge Bankshares, Inc. is single-bank holding company headquartered in Luray, Va. Chartered in 1893 as the Page Valley Bank of Virginia, today Blue Ridge Bank has additional branches in Shenandoah, McGaheysville and Charlottesville. Celebrating its 120th year as a locally owned, independent community bank, Blue Ridge Bank provides a wide range of financial services. Visit www.mybrb.com for more information.