Revenue and margin performance have deteriorated, with the efficiency ratio climbing to 97% in 2026Q1 and 79% in 2026Q3 while fee income contributes only about 13% of total revenue, leaving earnings highly exposed to a contracting net interest line.
Blue Ridge Bankshares, Inc. (BRBS) annual income statement — 14-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Net Interest Income | 68.97M | 78.86M | 78.66M | 93.04M | 104.57M | 92.48M | 44.51M | 21.37M | 17.29M | 0 | 0 | 0 | 0 | 0 | 0 |
| NII Growth % | -53.42% | 0.25% | -15.46% | -11.02% | 13.07% | 107.78% | 108.3% | 23.61% | - | - | - | - | - | - | - |
| Net Interest Margin % | 2.94% | 3.24% | 2.87% | 2.98% | 3.34% | 3.47% | 2.97% | 2.22% | 3.2% | 0% | 0% | 0% | 0% | 0% | 0% |
| Interest Income | 119.07M | 137.77M | 160.32M | 169M | 121.65M | 103.55M | 54.46M | 30.89M | 22.44M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 50.1M | 58.91M | 81.66M | 75.95M | 17.09M | 11.06M | 9.95M | 9.52M | 5.15M | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan Loss Provision | 9M | -4M | -5.1M | 22.32M | 25.69M | 117K | 10.45M | 1.74M | 1.23M | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Interest Income | 9.41M | 12.84M | 13.57M | 28.38M | 48.09M | 86.99M | 55.85M | 18.43M | 9.83M | 26.33M | 15.93M | 9.45M | 8.52M | 7.38M | 6.46M |
| Non-Interest Income % | 12.01% | 14% | 14.72% | 23.37% | 31.5% | 48.47% | 55.65% | 46.31% | 36.26% | 100% | 100% | 100% | 100% | 100% | 100% |
| Total Net Revenue | 78.39M | 91.7M | 92.23M | 121.42M | 152.66M | 179.47M | 100.36M | 39.8M | 27.12M | 26.33M | 15.93M | 9.45M | 8.52M | 7.38M | 6.46M |
| Revenue Growth % | -15.46% | -0.58% | -24.03% | -20.47% | -14.94% | 78.83% | 152.15% | 46.76% | 2.99% | 65.34% | 68.53% | 10.93% | 15.42% | 14.3% | - |
| Non-Interest Expense | 67.44M | 81.92M | 113.84M | 157.94M | 104.78M | 110.99M | 67.24M | 32.48M | 20.17M | 12.72M | 4.38M | 4.69M | 5.7M | 4.83M | 4.38M |
| Efficiency Ratio | 86.04% | 89.34% | 123.43% | 130.08% | 68.63% | 61.84% | 66.99% | 81.61% | 74.39% | 48.3% | 27.52% | 49.67% | 66.89% | 65.39% | 67.8% |
| Operating Income | 1.95M | 13.78M | -16.51M | -58.84M | 22.2M | 68.36M | 22.67M | 5.58M | 5.72M | 5.46M | 1.24M | 4.76M | 2.82M | 3.77M | 2.08M |
| Operating Margin % | 2.48% | 15.02% | -17.9% | -48.46% | 14.54% | 38.09% | 22.59% | 14.01% | 21.09% | 20.73% | 7.8% | 50.33% | 33.11% | 51.15% | 32.2% |
| Operating Income Growth % | - | 183.45% | 71.95% | -365.11% | -67.53% | 201.51% | 306.56% | -2.5% | 4.77% | 339.51% | -73.88% | 68.62% | -25.29% | 81.56% | - |
| Pretax Income | 1.95M | 13.78M | -16.51M | -58.84M | 22.2M | 68.36M | 22.67M | 5.58M | 5.72M | 5.41M | 1.24M | 3.55M | 2.82M | 2.55M | 2.08M |
| Pretax Margin % | 2.48% | 15.02% | -17.9% | -48.46% | 14.54% | 38.09% | 22.59% | 14.01% | 21.09% | 20.53% | 7.8% | 37.53% | 33.11% | 34.61% | 32.2% |
| Income Tax | 1.23M | 3.07M | -1.12M | -7.07M | 5.2M | 15.74M | 4.84M | 973K | 1.15M | 2.06M | 553.45K | 1.05M | 791.35K | 709.69K | 562.81K |
| Effective Tax Rate % | 63.34% | 22.26% | 6.8% | 12.02% | 23.42% | 23.02% | 21.33% | 17.45% | 20.05% | 38.04% | 44.55% | 29.56% | 28.06% | 27.78% | 27.07% |
| Net Income | 713K | 10.71M | -15.38M | -51.77M | 17.33M | 52.48M | 17.7M | 4.58M | 4.56M | 3.35M | 688.73K | 2.45M | 1.98M | 1.64M | 1.32M |
| Net Margin % | 0.91% | 11.68% | -16.68% | -42.64% | 11.35% | 29.24% | 17.63% | 11.51% | 16.81% | 12.72% | 4.32% | 25.96% | 23.29% | 22.18% | 20.43% |
| Net Income Growth % | -84.02% | 169.61% | 70.28% | -398.7% | -66.97% | 196.55% | 286.38% | 0.44% | 36.1% | 386.48% | -71.92% | 23.64% | 21.18% | 24.14% | - |
| Net Income (Continuing) | 713K | 10.71M | -15.38M | -51.77M | 17M | 52.62M | 17.84M | 4.6M | 4.57M | 3.35M | 688.73K | 2.5M | 2.03M | 1.84M | 1.32M |
| EPS (Diluted) | 0.01 | 0.11 | -0.31 | -2.73 | 0.90 | 2.94 | 2.07 | 0.77 | 1.11 | 0.81 | 0.21 | 0.80 | 0.94 | 0.78 | 0.62 |
| EPS Growth % | -108.72% | 135.48% | 88.64% | -403.33% | -69.39% | 42.03% | 168.83% | -30.63% | 37.04% | 285.71% | -73.75% | -14.89% | 20.51% | 25.81% | - |
| EPS (Basic) | - | 0.11 | -0.31 | -2.73 | 0.90 | 2.94 | 2.07 | 0.77 | 1.11 | 0.81 | 0.21 | 0.80 | 0.94 | 0.78 | 0.62 |
| Diluted Shares Outstanding | 88.62M | 106.1M | 49.12M | 18.94M | 18.99M | 17.85M | 8.54M | 6.22M | 4.17M | 4.13M | 3.34M | 3.08M | 2.11M | 2.11M | 2.12M |
Quick answers to the most common questions about buying BRBS stock.
For fiscal year 2025, Blue Ridge Bankshares, Inc. (BRBS) reported total revenue of $91.7M. This represents a 1320.1% increase compared to $6.5M in 2012.
Blue Ridge Bankshares, Inc. (BRBS) is profitable, generating $10.7M in net income for the fiscal year ending 2025 with a net profit margin of 11.7%.
Blue Ridge Bankshares, Inc. (BRBS) reported an operating income of $13.8M, resulting in an operating profit margin of 15.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Blue Ridge Bankshares, Inc. (BRBS) generated $95.7M in gross profit for the year, representing a gross profit margin of 104.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Credit cost escalation and margin compression
Metrics are mathematically derived from official filings.
NII Retreating From Prior Peak
Based on reported figures, BRBS net interest income fell from a $21.9M peak in 2025Q3 to $17.4M in 2026Q3, a roughly 20.6% year-over-year decline that signals a sustained squeeze on core lending earnings.
The drop in NII appears to reflect a combination of lower asset yields and rising funding costs, though the data provided does not isolate loan volume from rate effects. Investors should monitor whether the sequential decline stabilizes or continues, since the current quarter's NII now sits well below the 2024 run-rate of roughly $19-20M. This warrants further investigation into deposit betas and repricing timing.
Net Interest Margin Stuck Near 0.7%
As reported in the financial statements, BRBS net interest margin has held near 0.7% across most recent quarters, down from 0.9% in 2025Q3, indicating thin spread economics relative to the revenue base.
A margin in this range suggests limited pricing power on the asset side relative to funding costs, which may leave the bank vulnerable if deposit competition intensifies. The compression from 0.9% to 0.7% over several quarters is material for a regional lender and warrants close attention. Peer comparison is difficult here since the supplied peer data does not include NIM figures.
Efficiency Ratio Deteriorating Sharply
According to the reported figures, BRBS efficiency ratio climbed from roughly 78% in 2025Q3 to 97% in 2026Q1 and 79% in 2026Q3, showing that non-interest expense has consumed nearly all revenue in several periods.
Efficiency ratios near or above 90% suggest the cost base is not scaling with the shrinking revenue line, producing negative operating leverage. The volatility across quarters makes it difficult to assess a clear underlying trend from this data alone. Investors should watch whether expense actions can restore the ratio toward the sub-80% range.
Provision Swings Signal Credit Uncertainty
Based on EDBL-style reporting conventions applied here, BRBS provision expense moved from a $1.8M reserve release in 2025Q3 to an $8.4M charge in 2026Q3, a swing that dominates the latest quarter's pre-tax result.
The sharp increase in provisioning in the most recent quarter appears to reflect either deteriorating credit quality or a more conservative reserve posture, and the data alone cannot distinguish between the two. Because the provision now exceeds the entire operating income figure, credit costs are the primary driver of the recent loss. This warrants further investigation into the loan book composition and charge-off trends.
Fee Income Too Small to Offset
As reported in the financial statements, BRBS non-interest income of $2.6M in 2026Q3 represents only about 13% of total revenue, leaving the bank highly dependent on a net interest line that is currently contracting.
Fee income remains a modest share of revenue, so it offers limited diversification against NII pressure and does not appear to materially cushion the earnings decline. The data does not break down fee composition, so recurring versus transactional quality cannot be assessed. If the NII decline persists, the bank may struggle to return to profitability without either credit normalization or meaningful fee growth.