Blue Ridge Bankshares, the holding company of Blue Ridge Bank and BRB Financial Group, intends to phase out single-use plastics as part of its commitment to carbon neutrality by 2040. This policy will transition the company away from single-use plastic item by the end of 2024.
Blue Ridge Bankshares appointed Judy C. Gavant as president and director of the bank. Gavant will also continue in her current capacity as CFO of the bank, and executive vice president and CFO of Blue Ridge.
Blue Ridge Bankshares, the parent company of Blue Ridge Bank, and FVCBankcorp, the parent company of FVCbank, mutually agreed to terminate their merger agreement.
Since the merger of Blue Ridge Bank and FVCbank was announced in July, the Office of the Comptroller of the Currency has identified certain regulatory concerns with Blue Ridge Bank that could impact the application process and timing of the merger.
Star Mountain Capital closed its $290 million SBIC fund with support from new and existing limited partners, including banks, asset management firms, family offices and individuals.
Blue Ridge Bankshares, the parent company of Blue Ridge Bank, and FVCBankcorp, the parent company of FVCbank, entered into a definitive agreement pursuant to which the companies will combine in an all-stock merger of equals.
Carolina State Bank, a division of Blue Ridge Bank, appointed Alex Jung its North Carolina market president. Jung has more than 25 years of consumer, commercial and mortgage banking experience.
Blue Ridge Bankshares agreed to acquire and Virginia Community Bankshares (VCB), the parent holding company of Virginia Community Bank, in a transaction valued at approximately $42.5 million in aggregate.
Blue Ridge Bankshares has appointed Elise Peters Carey, Donald R. Vaughan, and Carolyn J. Woodruff to its board of directors with Peters Cary serving as vice-chair. Peters Cary, Vaughan, and Woodruff also serve on the board of directors for Carolina State Bank, a division of Blue Ridge Bank.
Blue Ridge Bank hired Gary R. Shook as president and chief banking officer. He will be based in Charlottesville, VA and join the board of directors as a member.