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Blue Ridge Bankshares to Buy Back Up to $15 Million of Common Stock
ByAinvest
Monday, Aug 25, 2025 8:35 am ET1min read
Blue Ridge Bankshares is considering purchasing up to $15 million of its common stock. The company is a holding company for Blue Ridge Bank and BRB Financial Group, and its segments include commercial banking, mortgage banking, and holding company activities. The Bank offers retail and commercial banking services, while the Financial Group provides management services for personal and corporate trusts, insurance products, and investment and wealth management.
Richmond, Va., Aug. 25, 2025 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (BRBS), the holding company for Blue Ridge Bank, N.A. and BRB Financial Group, Inc., has announced a share repurchase program. The program allows the company to purchase up to $15 million of its issued and outstanding shares of common stock [1].The repurchase program, adopted by the company's Board of Directors, can be executed through various methods, including open market purchases, block trades, and privately negotiated transactions. Additionally, it may involve the exercise of outstanding warrants to purchase common stock. Open market purchases will comply with Rule 10b-18 of the Securities and Exchange Commission (SEC) [1].
The company has indicated that the timing and amount of share repurchases will depend on several factors, such as constraints specified in any SEC Rule 10b5-1 trading plans, market conditions, and the cost of repurchasing shares. Information regarding share repurchases will be disclosed in the company's periodic reports on Form 10-Q and 10-K filed with the SEC [1].
Blue Ridge Bankshares provides a range of financial services, including retail and commercial banking, investment and wealth management services, and management services for personal and corporate trusts. The company operates through its subsidiaries, Blue Ridge Bank and BRB Financial Group [2].
The announcement of the share repurchase program comes amidst a shareholder investigation initiated by Purcell & Lefkowitz LLP. The law firm is investigating whether the company's directors have breached their fiduciary duties in connection with recent corporate actions [3].
References:
[1] https://www.prnewswire.com/news-releases/blue-ridge-bankshares-inc-announces-share-repurchase-program-302537191.html
[2] https://www.marketscreener.com/news/blue-ridge-bankshares-inc-announces-share-repurchase-program-ce7c50d8d88df226
[3] https://www.marketscreener.com/news/purcell-lefkowitz-llp-announces-shareholder-investigation-of-blue-ridge-bankshares-inc-nyse-ame-ce7c51dcd98ff52d
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