Blue Ridge Bankshares Declares $0.60 Special Dividend, $54.1 Million Payout
Blue Ridge Bankshares, Inc. (NYSE American: BRBS), the holding company of Blue Ridge Bank, declared a special cash dividend of $0.60 per share totaling approximately $54.1 million. The dividend will be paid April 27, 2026 to shareholders of record as of April 13, 2026.
Blue Ridge Bankshares, Inc. (NYSE American: BRBS), the holding company of Blue Ridge Bank and BRB Financial Group, declared a special cash dividend of $0.60 per share on March 30, 2026. The one-time distribution totals approximately $54.1 million and will be paid April 27, 2026 to shareholders of record as of the close of business on April 13, 2026. Read more dividend announcements.
The Richmond, Virginia-based community bank holding company announced the special dividend alongside its first quarter 2026 financial results. The company reported net income of $0.8 million, or $0.01 per diluted share, for the quarter ended March 31, 2026.
| Dividend Details | |
|---|---|
| Amount | $0.60 per share |
| Total Distribution | ~$54.1 million |
| Record Date | April 13, 2026 |
| Payment Date | April 27, 2026 |
| Type | Special Cash Dividend |
Warrant Adjustment
Concurrent with the dividend declaration, Blue Ridge Bankshares announced an amendment to warrants issued during private placements in the second quarter of 2024. Under the amended terms, the per-share exercise price of each warrant will be reduced by the dividend amount in lieu of cash distributions to warrant holders.
The warrant amendment applies to both the special dividend declared in March 2026 and a prior special dividend paid in November 2025. The company had previously accrued $6.1 million for the fourth quarter 2025 dividend to be paid upon warrant exercise. That accrual was reversed in the first quarter as a result of the amended warrant terms.
First Quarter Financial Performance
Blue Ridge Bankshares reported net income of $0.8 million for the first quarter of 2026, compared to net income of $4.2 million in the fourth quarter of 2025 and a net loss of $0.4 million in the first quarter of 2025. Results included $1.3 million in after-tax expenses related to executive officer transitions.
Net interest income totaled $16.9 million for the quarter, down from $18.1 million in the prior quarter. The decline reflected lower average balances of loans held for investment and loans held for sale, which collectively decreased $50.5 million on a sequential quarter basis. Net interest margin compressed to 2.90% from 3.04% in the prior quarter.
The company's cost of deposits declined 13 basis points to 2.27% for the quarter, compared to 2.40% in the fourth quarter of 2025. Average brokered deposit balances declined $37.0 million on a sequential quarter basis.
Capital Metrics
Tangible common stockholders' equity to tangible total assets stood at 11.4% at March 31, 2026, down from 13.2% at the prior quarter end. Tangible book value per share declined to $3.11 from $3.65 over the same period. Both metrics were impacted by the declared special dividend, partially offset by the reversal of the warrant-related dividend accrual.
Blue Ridge Bankshares operates as a community bank holding company through its subsidiaries Blue Ridge Bank, National Association and BRB Financial Group. The company reported 281 employees as of the first quarter.