Blue Ridge Bankshares: Profitability Surges Despite Decline in Deposits

Blue Ridge Bankshares reported improved profitability with net interest income margins increasing due to widening spreads. The cost structure also improved, but customer deposits decreased. The bank's profitability was boosted by a strong loan portfolio and a low loan loss provision. The bank's capital levels remain strong, with a Tier 1 leverage ratio of 11.3% and a total risk-based capital ratio of 17.1%.