Brief: Blue Ridge Bankshares Unit Sells $712.6 Mln Of Loans Originated By Bank

Blue Ridge Bankshares

02/07/2021 23:29

July 2 (Reuters) - Blue Ridge Bankshares Inc  BRBS.A :
    * BLUE RIDGE BANKSHARES - ON JUNE 28, UNIT SOLD ABOUT $712.6
MILLION OF LOANS ORIGINATED BY BANK PURSUANT TO SMALL BUSINESS
ADMINISTRATION'S PPP TO THE LOAN SOURCE INC
    * BLUE RIDGE BANKSHARES - RECEIVED CASH PROCEEDS OF ABOUT
$705.9
MILLION
    * BLUE RIDGE BANKSHARES - BANK USED PORTION OF PROCEEDS OF
SALE TO
PAY OFF ABOUT $431.1 MILLION BORROWINGS
    * BLUE RIDGE BANKSHARES - EXPECTS TO REALIZE A GAIN IN THE
SECOND
QUARTER AS A RESULT OF THE SALE
    * BLUE RIDGE BANKSHARES - BANK HOLDS ABOUT $140.0 MILLION OF
REMAINING PPP LOANS

Further company coverage:  BRBS.A 

 ((Reuters.Briefs@thomsonreuters.com;))