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Blue Ridge Bankshares Q2 net income $6,218,000

Christian Fernsby ▼ | July 30, 2020
Blue Ridge Bankshares announced its second quarter 2020 net income of $6,218,000 compared to $841,000 for the quarterly period ended March 31, 2020, and $1,536,000 for the quarterly period ended June 30, 2019.
Blue Ridge Bankshares
Blue Ridge Bankshares   $6,218,000
The growth in quarterly earnings is primarily attributable to a significant increase in mortgage volume and the recognition of Paycheck Protection Program loan processing fees over the expected loan lives.

Topics: Blue Ridge Bankshares

The positive impact of these items was partially offset by additional provisioning for loan losses driven by current economic uncertainty.