Blue Ridge Bankshares, Inc. · AMEX:BRBS
Blue Ridge Bankshares — Merger or Acquisition (November 2019)
23 slides from Blue Ridge Bankshares's merger presentation, Nov 4, 2019
Slide 1: Blue Ridge Bankshares, Inc. Investor Presentation
Blue Ridge Bankshares, Inc. Investor Presentation September 30, 2019 Exhibit 99.1
Slide 2: Safe Harbor Regarding Forward-Looking Statements
Safe Harbor Regarding Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Blue Ridge Bankshares, Inc. (the “Company”). Forward-looking statements often include the words “believes,”
Slide 3: Additional Information About the Proposed Merger
In connection with the proposed merger, Blue Ridge has filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the shares of Blue Ridge common stock to be issued to the shareholders of Virginia Community Bankshares, Inc. (“VCB”). The registratio
Slide 4: Investment Highlights
P Experienced Management Team Prior senior leadership roles at significantly larger institutions In total, management has more than 110 years of banking industry experience Investment Highlights P Industry Momentum Attracted three former CEO’s in less than two years Pipeline of talented bankers that
Slide 5: Corporate Profile
Corporate Profile Financial Highlights Locations Map #3 community bank market share(1) in Charlottesville MSA, #4 in Martinsville $9.5B deposit market share opportunity 7 Virginia branches, 1 in North Carolina 11 mortgage offices in NC, VA, MD, and FL $520.3 million $736.2 million Luray, Virginia 17
Slide 6: Management Team
Brian K. Plum President & CEO Seth D. Moore President, Carolina State Bank Amanda G. Story Chief Financial Officer E. Neal Crawford, Jr. CEO, Carolina State Bank Management Team Gary R. Shook Chief Operating Officer President and CEO of Blue Ridge Bankshares, Inc. since December 2014 Previously serv
Slide 7: BRBS Mission Statement and Core Values
BRBS Mission Statement and Core Values 126 Years of Customer Service Mission Statement Our mission is to create financial value and opportunity for our shareholders, customers, employees, and communities by providing evolving, flexible, and customized solutions for the needs of our clients ….and to
Slide 8: Markets of Operation – Virginia & Maryland
The region is home to the 7th busiest port in the U.S. with approximately 1.3 million TEUs imported during 2017(1) The area’s economy is heavily influenced by the largest concentration of military personnel outside of the Pentagon(2) The region is home to a young populace, median age of 36.2 years v
Slide 9: Markets of Operation – North Carolina
The North Central region of North Carolina is one of the state’s most prominent economic centers, accounting for approximately 40% of North Carolina’s 2017 GDP(1) More than $8.5 billion of adjusted gross income has migrated into the area since 1992(2) The region provides a high quality of life, enti
Slide 10: Deposit Portfolio
Deposit Portfolio Source: SNL Financial, Company financials. Financial data as of or for the quarter ended September 30, 2019 Deposit Funded Balance Sheet Growth ($ millions) 2014 – Q3 2019 CAGR Total CAGR: 23.5% For the Quarter Ended ($000), YoY 9/30/19 9/30/18 Change (%) Noninterest bearing DDA 91
Slide 11: Held-for-Investment Loan Portfolio
Held-for-Investment Loan Portfolio Note: Excludes loans held-for-sale. Source: Company financial data. Strong and Stable Total Loan Growth ($ millions) 2014 – Q3 2019 CAGR Total CAGR: 19.8% For the Quarter Ended ($000), YoY 9/30/19 9/30/18 Change (%) 1-4 Family 163,391 135,367 20.7 Construction & De
Slide 12: Consistent Balance Sheet Growth
Consistent Balance Sheet Growth Note: Core deposits defined as total deposits less brokered and listing service deposits. Source: SNL Financial ($ in millions)
Slide 13: Robust and Consistent Profitability
Robust and Consistent Profitability * - 2019 numbers annualized for YTD results through Q3. 2016 includes merger costs of $1.9 million associated with the acquisition of River Bancorp, Inc., and 2019 includes expenses related to the pending acquisition of Virginia Community Bankshares, Inc. Return o
Slide 14: Asset Quality and Credit Culture
Asset Quality and Credit Culture Source: SNL Financial and Company financials. Bank-level data. * - Includes credit mark on loans acquired in the acquisition of River Bancorp, Inc. in 2016. Commentary Net Charge-offs/Average Loans (Annualized) Limited net charge-off history as NCOs / Avg. loans have
Slide 15: Per Share Growth
Per Share Growth * - 2019 data as of September 30, 2019. Earnings per share annualized based on net income through September 30, 2019. Source: Company financials. Note: BRBS issued common stock in late Q4 2014/Q1 2015 and Q1 2019. New shares issued equaled 49.07% and 55.02% of prior to issuance tota
Slide 16: Building a Robust Fee Platform
Building a Robust Fee Platform * - In 2019 BRBS started charging interest expense and corporate overhead to mortgage. These numbers have been removed, net of tax effect, for comparative purposes. ** - Washington DC based mortgage team joined in July 2018 and has since added an office in Virginia Bea
Slide 17: Creating Central Virginia’s Preeminent Community Bank
Creating Central Virginia’s Preeminent Community Bank
Slide 18: Financial Impact
Financial Impact (1) Core bank excludes income related to mortgage related activities // (2) Based on crossover method // (3) Defined as total deposits excluding all certificates of deposits Cost Savings: 41% cost savings fully phased-in (100% in 2020 and thereafter) Merger Related Expenses: $3.2 mi
Slide 19: Transaction Overview
Provides a low-cost funding base with a complementary enhancement of multiple noninterest income lines of business Transaction Overview Creates the 5th largest community bank headquartered in central Virginia and Shenandoah Valley that benefits from the scale of a $1 billion institution(1) (1) Commu
Slide 20: Pro Forma Deposit Profile
Pro Forma Deposit Profile Standalone BRBS Standalone VCBS Pro Forma Note: Excludes purchase accounting adjustments Source: S&P Global Market Intelligence YTD BRBS Cost of Deposits: 1.19% YTD VCBS Cost of Deposits: 0.40% Pro Forma Cost of Deposits: 0.94%
Slide 21: Pro Forma Loan Profile
Standalone BRBS YTD BRBS Yield on Loans: 5.39% Pro Forma Loan Profile YTD VCBS Yield on Loans: 5.62% Standalone VCBS Pro Forma Note: Excludes purchase accounting adjustments Source: S&P Global Market Intelligence MRQ CRE Ratio: 244.7% MRQ CRE Ratio: 258.6%
Slide 22: Appendix
Appendix BLUE RIDGE 5] BANK
Slide 23: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures
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