Blue Ridge Bankshares, Inc. Announces Executive Transition and Strategic Update

Key Points

• Retirement of CEO and President G. William Beale: Blue Ridge Bankshares, Inc. announced that G. William Beale, who has served as CEO since May 2023 and as President and CEO of the holding company since July 2023, has retired effective March 6, 2026.
• Mr. Beale’s Impact: Mr. Beale was instrumental in guiding the company out of a critical OCC Consent Order related to prior business activities and restoring the bank to profitability and a community-focused operation.
• Appointment of Interim CEO: The Boards of Directors have appointed Harry Golliday, Executive Vice President and Chief Credit Officer, as Interim Chief Executive Officer and President of the Company, and Interim Chief Executive Officer of the Bank.
• Strategic Direction: Mr. Golliday will continue to pursue growth, capital management, and strategic opportunities following the termination of the OCC Consent Order in November 2025.
• Leadership Experience: Mr. Golliday brings over four decades of financial services experience, including leadership roles at CapitalOne Bank, SunTrust, and Wachovia.

Detailed Analysis for Investors

Blue Ridge Bankshares, Inc. (NYSE American: BRBS), the holding company for Blue Ridge Bank, National Association, has announced a significant executive leadership transition. The retirement of G. William Beale marks the conclusion of a critical turnaround period for the company. Mr. Beale, previously retired, was brought back in May 2023 to stabilize the bank and oversee its exit from the OCC Consent Order, a regulatory restriction that had impacted prior business activities. Under his leadership, the Bank returned to profitability and refocused its strategy on its core community banking mission.

In his retirement statement, Mr. Beale expressed pride in the achievements made during his tenure, particularly highlighting the bank’s successful navigation out of regulatory oversight and its restored financial health. The company’s Board of Directors, represented by Chairman Vance H. Spilman, publicly thanked Mr. Beale for his exemplary leadership, citing his role in both the regulatory exit and the return to profitability.

The Board has moved swiftly to appoint Harry Golliday as interim CEO and President. Mr. Golliday, who joined Blue Ridge Bank as Chief Credit Officer in January 2024, will now lead the company in its next chapter. Golliday’s extensive experience—spanning more than 40 years with major institutions such as CapitalOne, SunTrust, and Wachovia—is expected to bring stability and continued strategic direction. He emphasized that since joining the company, Blue Ridge Bank has undergone “significant change that has materially strengthened our financial condition, asset quality, and business mix,” and he pledged to work with the Board and the executive team to achieve the bank’s strategic and financial goals.

The company remains focused on growth, disciplined capital management, and pursuing strategic opportunities, particularly following the November 2025 lifting of the OCC Consent Order. This regulatory improvement provides the bank with greater flexibility and fewer constraints, potentially opening the door for enhanced profitability, expansion, and shareholder value creation.

Potential Shareholder Impact and Price Sensitivity

• Leadership Transition: The retirement of Mr. Beale and appointment of an interim CEO/President is a major change at the top, which could be seen as a period of uncertainty but also opportunity for new strategic direction.
• Regulatory Milestone: The successful exit from the OCC Consent Order and the bank’s financial turnaround are positive signals for investors, reducing regulatory risk and supporting future growth.
• Strategic Flexibility: With the Consent Order lifted, Blue Ridge Bankshares can pursue acquisitions, product expansion, and other strategic initiatives previously restricted, which may positively impact future earnings and share value.
• Experienced Leadership: The appointment of a seasoned executive with a strong track record in risk and credit management may reassure investors about continued prudent oversight during the leadership transition.

About Blue Ridge Bankshares, Inc.

Blue Ridge Bankshares, Inc. is the holding company for Blue Ridge Bank and BRB Financial Group, Inc. The company provides a wide range of financial services, including retail and commercial banking, investment and wealth management, and trust services for personal and corporate clients. More information is available at www.mybrb.com.

Forward-Looking Statements

This release contains forward-looking statements regarding Blue Ridge Bankshares, Inc.’s plans, objectives, and strategies. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Investors are advised to review the company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the SEC for further information on these risks.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult their financial advisors before making any investment decisions. The information herein is based on publicly available statements and filings and is subject to change without notice.

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