Benzinga | Jan 21, 2021 04:17PM EST

Shareholders of Blue Ridge Bankshares, Inc. and Bay Banks of Virginia, Inc. Approve Merger

At separate shareholder meetings today, shareholders of both Blue Ridge Bankshares, Inc. (NYSE:BRBS) ("Blue Ridge"), the parent holding company of Blue Ridge Bank, National Association, and Bay Banks of Virginia, Inc. (OTC:BAYK) ("Bay Banks"), the parent holding company of Virginia Commonwealth Bank, approved the previously announced merger of Bay Banks into Blue Ridge.



Based on financial information as of September 30, 2020, the combined company would have approximately $2.8 billion in assets, $1.9 billion in deposits, and $2.1 billion in loans.