Page 1

Exhibit 99.1 Blue Ridge Bankshares , Inc. Announces Third Quarter and Year - to - date 2021 Results Charlottesville , Va . , November 4 , 2021 - Blue Ridge Bankshares , Inc. ( the “ Company ” ) ( NYSE American : BRBS ) , the holding company of Blue Ridge Bank , National Association ( " Blue Ridge Bank " ) and BRB Financial Group , Inc. , announced today financial results for the quarter and year - to - date periods ended September 30 , 2021. For the third quarter of 2021 , the Company reported net income of $ 6.8 million , or $ 0.36 earnings per diluted common share , compared to $ 28.6 million , or $ 1.54 earnings per diluted common share , for the second quarter of 2021 , and $ 5.1 million , or $ 0.59 earnings per diluted common share , for the third quarter of 2020. For the nine months ended September 30 , 2021 , the Company reported net income of $ 39.7 million , or $ 2.26 earnings per diluted common share , compared to $ 12.1 million , or $ 1.42 earnings per diluted common share , for the same period of 2020. Earnings per diluted common share for all periods presented is reflective of the 3 - for - 2 stock split effective April 30 , 2021. Net income for the nine months ended September 30 , 2021 included an after - tax gain of $ 19.2 million resulting from the sale in second quarter of 2021 of over $ 700 million of loans originated under the Paycheck Protection Program ( " PPP " ) . Net income for all periods presented also reflected merger - related expenses , as further discussed below . On January 31 , 2021 , the Company completed the merger of Bay Banks of Virginia , Inc. ( “ Bay Banks ” ) , the holding company of Virginia Commonwealth Bank , into the Company . Immediately following the completion of the merger , Virginia Commonwealth Bank was merged into Blue Ridge Bank ( collectively , the " Bay Banks Merger " ) . Earnings for the first nine months of 2021 include the earnings of Bay Banks from the effective date of the merger . On July 14 , 2021 , the Company and FVCBankcorp , Inc. ( “ FVCB ” ) jointly announced they had entered into a definitive agreement pursuant to which the companies will combine in an all - stock merger of equals ( the " FVCB Merger " ) . The FVCB Merger is subject to customary closing conditions , including regulatory approvals and approval from the shareholders of both companies . The Company has learned that the Office of the Comptroller of the Currency ( the " OCC " ) identified certain regulatory concerns with Blue Ridge Bank that could impact the application process and timing of the FVCB Merger . Blue Ridge Bank has already commenced an initiative intended to fully address the OCC's concerns . The Company anticipates the FVCB Merger will close in the second or third quarter of 2022 . Net income for the third and second quarters of 2021 included approximately $ 1.1 million and $ 1.0 million , respectively , in after - tax expenses related to the Bay Banks Merger and the FVCB Merger , while earnings for the third quarter of 2020 included approximately $ 1.0 million in after - tax merger - related expenses . “ Our team had a productive third quarter , ” said Brian K. Plum , President and Chief Executive Officer . " Loan pipelines are at historically high levels and our expectation is that will convert to higher loan balances . The consolidation of five branch locations at quarter - end and growth in our fintech division's balances illustrate continued progress in improving our delivery channels to enhance our future customer experience . " " Mortgage volumes remain at elevated levels , though margin compression , particularly in wholesale mortgage , has negatively impacted mortgage division profitability , " added Plum .