Welcome!

News Feed Item

Blue Ridge Bankshares' Performance Recognized by SNL Financial

Bank is one of 20 in US, two in Va. to increase dividends by 30 percent in five years

LURAY, Va., Jan. 24, 2014 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (OTCQB: BRBS), parent company of Blue Ridge Bank, announced today it has been recognized by SNL Financial in a recent report as one of only 20 banks in the country, and only two in Virginia, to increase dividends by at least 2 percent per year and at least a cumulative 30 percent over the past five years.

(Logo:  http://photos.prnewswire.com/prnh/20130813/NE63024LOGO)

"We are incredibly proud of the growth in both net income and common stock dividends per share over the past five years," said Blue Ridge Bank President and Chief Executive Officer Monte L. Layman. "There are nearly 7,000 banks in the United States—being recognized for positive news in a group of just 20 banks is heartening and a tribute to the hard work of everyone at the bank, both past and present."

The bank recorded a dividend yield of 3.20 percent with a dividend growth of 13.33 percent in 2013 and a cumulative growth of 41.67 percent from 2008-2013. The only other Virginia bank to join Blue Ridge Bankshares on the list is Chesapeake Financial Shares, Inc., parent company of Chesapeake Bank.

"Our dividend payments are very important to many of our shareholders as both an income stream and a driver of share price, so we will try our best to maintain our positive momentum while creating more economic value for our current and future shareholders," said Layman.

As noted in the SNL Financial article, Blue Ridge Bankshares increased its dividend even as it grew its balance sheet and branch network. The bank continues to look for opportunities for organic growth and strategic partnerships.

Below are the 18 other banks and thrifts across the country that increased common dividends declared by more than 2 percent annually for the past five years and had cumulative dividend growth for the past five years of more than 30 percent:

High Country Bancorp, Inc. (HCBC) – Salida, Colo.                  
Bank of the Ozarks, Inc. (OZRK) – Little Rock, Ark.                
Quaint Oak Bancorp Inc. (QNTO) – Southampton, Pa.                   
Thomasville Bancshares Inc. (THVB) – Thomasville, Ga.                       
Cass Information Systems Inc. (CASS) – Saint Louis, Mo.                       
Northumberland Bancorp (NUBC) – Northumberland, Pa.                        
Prosperity Bancshares Inc. (PB) – Houston, Texas                   
Lyons Bancorp Inc. (LYBC) – Lyons, N.Y.                    
Mauch Chunk Trust Financial Corp. (MCHT) – Jim Thorpe, Pa.                     
Somerset Trust Holding Co. (SOME) – Somerset, Pa.                        
United Financial Bancorp Inc. (UBNK) – West Springfield, Mass.                 
First of Long Island Corp. (FLIC) – Glen Head, N.Y.                       
CCFNB Bancorp Inc. (CCFN) – Bloomsburg, Pa.                      
Muncy Bank Financial Inc. (MYBF) – Muncy, Pa.                     
BancFirst Corp. (BANF) – Oklahoma City, Okla.                  
Home Loan Financial Corp. (HLFN) – Coshocton, Ohio                  
First Robinson Financial Corp. (FRFC) – Robinson, Ill.                
UMB Financial Corp. (UMBF) – Kansas City, Mo.

To read the full report published Jan. 22, visit Blue Ridge Bank's Corporate Profile and click on the Recent News tab.

About Blue Ridge Bankshares, Inc.

Blue Ridge Bankshares, Inc. is single-bank holding company headquartered in Luray, Va. Chartered in 1893, Blue Ridge Bank is a locally owned, independent community bank with four branches in the Shenandoah Valley and central Virginia. Visit www.mybrb.com for more information on the bank's wide range of financial services.

Forward-Looking Statements

This press release may contain "forward-looking statements" as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in interest rates, general economic conditions and legislative and regulatory policies. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this news release.

Contact          
Brian K. Plum, Executive Vice President and Chief Financial Officer               
Blue Ridge Bank             
540-843-5207               
[email protected]

SOURCE Blue Ridge Bankshares, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.