Overview

* Blue Ridge Q3 net income rises to $5.6 mln, highest since 2022

* Net interest income for Q3 increases to $21.9 mln

* Company announces $15 mln share repurchase program

Outlook

* Company anticipates lower consulting and legal expenses in the fourth quarter

Result Drivers

* ONE-TIME EVENTS - Q3 results boosted by $3.0 mln fee income from out-of-market loan payoff and $0.8 mln recovery from charged-off loan

* EXPENSE REDUCTIONS - Decrease in noninterest expenses due to lower salaries and FDIC insurance premiums, reflecting improved regulatory position

* LOAN PIPELINE - Despite decline in loans held for investment, co has built a loan pipeline of over $200 mln, indicating future growth potential

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.06

Q3 Net $5.60

Income mln

Q3 Net $21.91

Interest mln

Income

Q3 $7.50

Pretax mln

Profit

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)