Blue Ridge Bankshares, Inc. Announces Share Repurchase Program
Blue Ridge Bankshares (BRBS) has announced a significant share repurchase program authorizing the buyback of up to $15 million of its outstanding common stock. The program allows for repurchases through various methods including open market purchases, block trades, and privately negotiated transactions.
The company will conduct open market purchases in compliance with SEC Rule 10b-18 and may implement trading plans under Rule 10b5-1. All repurchased shares will be cancelled and return to authorized but unissued status. The timing and execution of the program will depend on various factors including price, market conditions, and alternative investment opportunities.
Blue Ridge Bankshares (BRBS) ha annunciato un programma significativo di riacquisto di azioni, autorizzando il riacquisto fino a 15 milioni di dollari delle proprie azioni ordinarie in circolazione. Il programma prevede riacquisti tramite diversi metodi, inclusi acquisti sul mercato aperto, operazioni in blocco e transazioni negoziate privatamente.
L'azienda effettuer脿 acquisti sul mercato aperto nel rispetto della Regola 10b-18 della SEC e potr脿 adottare piani di negoziazione ai sensi della Regola 10b5-1. Tutte le azioni riacquistate saranno cancellate e torneranno allo stato di azioni autorizzate ma non emesse. Tempistica ed esecuzione del programma dipenderanno da vari fattori quali prezzo, condizioni di mercato e opportunit脿 alternative di investimento.
Blue Ridge Bankshares (BRBS) ha anunciado un importante programa de recompra de acciones, autorizando la compra de hasta 15 millones de d贸lares de sus acciones ordinarias en circulaci贸n. El programa permite recompras mediante diversos m茅todos, incluidos compras en el mercado abierto, operaciones en bloque y transacciones negociadas de forma privada.
La compa帽铆a realizar谩 compras en el mercado abierto cumpliendo con la Regla 10b-18 de la SEC y podr谩 implementar planes de negociaci贸n conforme a la Regla 10b5-1. Todas las acciones recompradas ser谩n canceladas y volver谩n a estar autorizadas pero no emitidas. El momento y la ejecuci贸n del programa depender谩n de diversos factores, como el precio, las condiciones del mercado y oportunidades alternativas de inversi贸n.
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Blue Ridge Bankshares (BRBS) a annonc茅 un important programme de rachat d'actions autorisant le rachat jusqu'脿 15 millions de dollars de ses actions ordinaires en circulation. Le programme permet des rachats par divers moyens, notamment des achats sur le march茅 ouvert, des transactions en bloc et des op茅rations n茅goci茅es de gr茅 脿 gr茅.
La soci茅t茅 effectuera des achats sur le march茅 ouvert conform茅ment 脿 la r猫gle 10b-18 de la SEC et pourra mettre en place des plans de n茅gociation au titre de la r猫gle 10b5-1. Toutes les actions rachet茅es seront annul茅es et redeviendront des actions autoris茅es mais non 茅mises. Le calendrier et l'ex茅cution du programme d茅pendront de plusieurs facteurs, tels que le prix, les conditions de march茅 et d'autres opportunit茅s d'investissement.
Blue Ridge Bankshares (BRBS) hat ein bedeutendes Aktienr眉ckkaufprogramm angek眉ndigt und den R眉ckkauf von bis zu 15 Millionen US-Dollar seiner ausstehenden Stammaktien genehmigt. Das Programm erm枚glicht R眉ckk盲ufe durch verschiedene Methoden, einschlie脽lich Marktaufk盲ufen, Blocktrades und privat verhandelten Transaktionen.
Das Unternehmen wird Marktaufk盲ufe in 脺bereinstimmung mit der SEC-Regel 10b-18 durchf眉hren und kann Handelspl盲ne nach Regel 10b5-1 umsetzen. Alle zur眉ckgekauften Aktien werden annulliert und kehren in den Status genehmigter, aber nicht ausgegebener Aktien zur眉ck. Zeitpunkt und Ausf眉hrung des Programms h盲ngen von verschiedenen Faktoren ab, darunter Preis, Marktbedingungen und alternative Investitionsm枚glichkeiten.
- Authorization of substantial $15 million share repurchase program
- Flexibility in repurchase methods including open market, block trades, and private transactions
- Potential to enhance shareholder value through reduction of outstanding shares
- Implementation of Rule 10b5-1 trading plan allows for consistent repurchases even during blackout periods
- No guarantee of actual share repurchases as program execution is discretionary
- Program may reduce company's available capital for operations and other investments
- Repurchase timing and volume subject to market conditions and other constraints
Insights
Blue Ridge Bankshares' $15M buyback program signals management confidence but impact depends on execution timing and purchase prices.
Blue Ridge Bankshares has announced a $15 million share repurchase program, representing a significant capital allocation decision. The program allows flexibility in execution through open market purchases, block trades, or private transactions. This move has several strategic implications for shareholders.
The buyback signals management's belief that shares may be undervalued at current prices. When a company repurchases shares, it reduces the number of outstanding shares, which can increase earnings per share (EPS) and potentially boost share value. For perspective, share repurchases effectively return capital to remaining shareholders without triggering the tax consequences of dividends.
The announcement contains careful language about implementation. The company explicitly states it "cannot predict when or if" it will repurchase shares, indicating this is an authorization rather than a commitment. The program includes multiple contingency factors that could affect execution, including price considerations and market conditions.
What's particularly noteworthy is the structure allowing purchases when the company would normally be restricted by insider trading laws through potential 10b5-1 plans. This provides Blue Ridge with regulatory-compliant mechanisms to execute repurchases during blackout periods.
The repurchase program's effectiveness will ultimately depend on execution timing and purchase prices. If executed at prices below intrinsic value, it creates shareholder value; if purchased at inflated prices, it destroys value. The bank's capital position and opportunity costs of alternative investments will be crucial factors in determining the program's long-term impact.
Repurchases may be made in open market purchases, block trades, or privately negotiated transactions, including upon the exercise of outstanding warrants to purchase Common Stock. Open market purchases will be conducted in accordance with the limitation of Rule 10b-18 of the Securities and Exchange Commission (the "SEC"). Repurchases may be made pursuant to any trading plan that may be adopted in accordance with SEC Rule 10b5-1, which would permit Common Stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. Under applicable law, repurchased shares will be cancelled and revert to the status of authorized but unissued shares.
The Company cannot predict when or if it will repurchase any shares of Common Stock as the Repurchase Program will depend on a number of factors, including constraints specified in any SEC Rule 10b5-1 trading plans, price, and general business and market conditions.听Information regarding share repurchases will be available in the Company's periodic reports on Form 10-Q and 10-K filed with the SEC as required by the applicable rules of the Securities Exchange Act of 1934, as amended.
The Repurchase Program may be modified, suspended, or terminated at any time without notice, at the Company's discretion, based upon a number of factors, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, the need for capital in the Company's operations and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Repurchase Program does not obligate the Company to repurchase any shares.
About Blue Ridge Bankshares, Inc.:
Blue Ridge Bankshares, Inc. is the holding company for Blue Ridge Bank, N.A. and BRB Financial Group, Inc. The Company, through its subsidiaries, provides a wide range of financial services including retail and commercial banking, investment and wealth management services, and management services for personal and corporate trusts, including estate planning and trust administration. Visit听听for more information.
Forward-Looking Statements:听
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of the Company's beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and are typically identified with words such as "may," "could," "should," "will," "would," "believe," "anticipate," "estimate," "expect," "aim," "intend," "plan," or words or phrases of similar meaning. The Company cautions that the forward-looking statements are based largely on its expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic and current reports filed with the SEC. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance.
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SOURCE Blue Ridge Bankshares, Inc.
FAQ
How much is Blue Ridge Bankshares' (BRBS) share repurchase program worth?
What methods will BRBS use to repurchase shares?
Is Blue Ridge Bankshares required to complete the full $15 million share repurchase?
What happens to the shares that BRBS repurchases?
What factors will influence BRBS's share repurchase timing and amount?
