Blue Ridge Bankshares, Inc. and FVCBankcorp, Inc. Announce Transformational Combination to Create a Top-Performing Financial Institution

About this update from Fvcbankcorp, Inc.

[{"type":"text","content":"\n\nEnhanced Scale to Drive Increased Growth and Profitability: Strengthens core franchise to create 4th largest Virginia-headquartered community bank1\n\n\n\nStrong, Affluent, Growing Markets of Operation: Strong, affluent growth markets across Virginia, Maryland and North Carolina\n\n\n\nEnhanced Revenue Streams with Increased Sources of Fee Income: Specialty business lines, including mortgage, SBA, government contracting and FinTech partnerships\n\n\n\nPowerful Operating Leverage: Top-tier metrics with meaningful capital generation and flexibility\n\n\n\nCreation of a Stronger Franchise with Greater Scarcity Value: Establishment of a powerful middle-market franchise not currently operating in Virginia with best talent from both franchises\n\n\n CHARLOTTESVILLE, Va. & FAIRFAX, Va.--(BUSINESS WIRE)--\nBlue Ridge Bankshares, Inc. (NYSEAM: BRBS) (“Blue Ridge”), the parent company of Blue Ridge Bank, National Association (“Blue Ridge Bank”), and FVCBankcorp, Inc. (NASDAQ: FVCB) (“FVCB”), the parent company of FVCbank, jointly announced today that they have entered into a definitive agreement pursuant to which the companies will combine in an all-stock merger of equals to create the 4th largest Virginia-headquartered community bank1 based on assets.\n\nThe transformational partnership will create greater scale to drive growth, improve profitability and enhance shareholder value. The transaction leverages complementary market positions and creates a statewide institution with a presence in key Virginia markets. The combination enhances revenue streams with increased sources of fee income and complementary product lines. The opportunities for improved profitability and enhanced revenue streams should create meaningful capital generation to support further technology initiatives and FinTech partnerships.\n\nUnder the terms of the definitive merger agreement, which was unanimously approved by the Boards of Directors of both companies, FVCB shareholders will receive 1.1492 shares of Blue Ridge common stock for each share of FVCB common stock they own. FVCB shareholders will own approximately 47.5% and Blue Ridge shareholders will own approximately 52.5% of the combined company on a fully diluted basis.\n\nThe combined company will be headquartered in Fairfax, Virginia and will maintain significant operation centers in other markets.\n\n...

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