The following tables present the condensed financial statements of Blue Ridge Bankshares, Inc. (parent company only) as of the dates and for the periods presented.

PARENT COMPANY ONLY CONDENSED BALANCE SHEETS


	As of December 31,
(Dollars in thousands)	2025		2024
ASSETS
Cash and due from banks	$	22,664	$	40,241
Investment in subsidiaries		302,477		308,055
Other equity investments		4,676		4,588
Other investments		11,663		10,359
Income tax receivable		1,031		5,226
Other assets		4,459		730
Total assets	$	346,970	$	369,199
LIABILITIES & STOCKHOLDERS’ EQUITY
Accrued expenses	$	749	$	866
Accrued interest payable		256		93
Deferred tax liability		980		663
Subordinated notes, net		14,716		39,789
Dividends payable (1)		6,578		—
Total liabilities		23,279		41,411
Stockholders’ equity		323,691		327,788
Total liabilities and stockholders’ equity	$	346,970	$	369,199

(1) Amounts due upon the exercise of warrants to purchase common stock and upon the vesting of PSAs.

PARENT COMPANY ONLY CONDENSED STATEMENTS OF INCOME


	For the years ended December 31,
(Dollars in thousands)	2025			2024
INCOME (LOSS)
Fair value adjustments of other equity investments	$	(112	)	$	(8,152	)
Loss on sale of other investments		—			(197	)
Other		—			89
Total loss		(112	)		(8,260	)
EXPENSES
Interest on subordinated notes		2,014			2,414
Legal and regulatory filings		544			1,087
Other		356			368
Total expenses		2,914			3,869
Loss before income taxes and equity in undistributed earnings of subsidiary		(3,026	)		(12,129	)
Income tax benefit		(656	)		(2,686	)
Equity in undistributed income (loss) of subsidiaries		13,079			(5,942	)
Net income (loss)	$	10,709		$	(15,385	)

PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS


	For the years ended December 31,
(Dollars in thousands)	2025			2024
Cash Flows From Operating Activities
Net income (loss)	$	10,709		$	(15,385	)
Equity in undistributed (income) loss of subsidiaries		(13,079	)		5,942
Deferred income tax benefit (expense)		317			(297	)
Amortization of subordinated note issuance costs		15			35
Loss on sale of other investments		—			197
Fair value adjustments of other equity investments		112			8,152
(Increase) decrease in other assets		(665	)		1,364
Increase (decrease) in accrued expenses		3,661			(8,352	)
Net cash provided by (used in) operating activities		1,070			(8,344	)
Cash Flows From Investing Activities
Proceeds from sale of other equity investments and other investments		—			89
Net change in other investments		(1,304	)		(1,939	)
Capital contribution to Bank subsidiary		—			(110,000	)
Dividends received from Bank subsidiary		30,000			—
Net cash provided by (used in) investing activities		28,696			(111,850	)
Cash Flows From Financing Activities
Proceeds from Private Placements, net of issuance costs		—			152,140
Warrants exercised		9,758			1,270
Subordinated note repayments		(25,000	)		—
Common stock dividends paid		(22,595	)		—
Repurchases of common stock and warrants to purchase common stock		(9,506	)		—
Net cash (used in) provided by financing activities		(47,343	)		153,410
Net (decrease) increase in cash and due from banks		(17,577	)		33,216
Cash and due from banks at beginning of period		40,241			7,025
Cash and due from banks at end of period	$	22,664		$	40,241

Supplemental Schedule of Cash Flow Information
Cash paid for:
Interest	$	1,851		$	2,689
Income taxes	$	6,575		$	—
Non-cash financing activities:
Restricted stock awards, net of forfeitures	$	2,739		$	1,180