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Blue Ridge Bankshares Inc. Completes Acquisition of LenderSelect Mortgage Group

January 14, 2020 | About:

PR Newswire

LURAY, Va., Jan. 14, 2020 /PRNewswire/ -- Blue Ridge Bankshares Inc. ("Blue Ridge") (NYSE: BRBS), headquartered in Luray, Va., announces the completion of its acquisition of Richmond-based LenderSelect Mortgage Group ("LenderSelect"). LenderSelect, previously a doing business as name of Atlantic Bay Mortgage Group, offers superior wholesale mortgage solutions to community financial institutions throughout the United States.

BRBS

Commenting on the completed acquisition, Brian K. Plum, President and Chief Executive Officer of Blue Ridge, said, "We are incredibly excited to have the LenderSelect team join our ranks as we continue to offer innovative and full-service solutions to our communities."

Blue Ridge is a national lender and offers mortgage products to borrowers in various states. The completion of this transaction allows LenderSelect to continue building relationships with financial institutions within the United States.

President and founder of LenderSelect, Tracy Marks, added, ".We look forward to continuing our growth in 2020 and empowering our community financial institutions with exceptional mortgage services."

About Blue Ridge Bankshares, Inc.

Blue Ridge Bankshares, Inc. is a multi-state bank holding company. Headquartered in Luray, Va., Blue Ridge is the parent company of Blue Ridge Bank, National Association, a client-centered financial services company offering commercial banking services throughout Virginia and North Carolina. Blue Ridge Bank offers mortgage services across the Mid-Atlantic and Southeast. Blue Ridge Bank also offers small business payroll services through Moneywise Payroll Solutions, qualified intermediary services through Exchangers, Ltd., and insurance services through Hammond Insurance. Visit www.mybrb.com for more information.

About LenderSelect Mortgage Group

LenderSelect Mortgage Group is a full-service mortgage provider committed to empowering community lenders with the necessary tools for growing a profitable mortgage platform. As a Fannie Mae, Freddie Mac and Ginnie Mae approved lender, LenderSelect's collaborative approach offers community lenders the benefits of directly offering mortgages, without increased overhead costs or risk. Customized to individual community lender needs, LenderSelect's model offers financial institutions maximum return on their investment by increasing borrower retention, production and profitability, while ensuring compliance oversight.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/blue-ridge-bankshares-inc-completes-acquisition-of-lenderselect-mortgage-group-300986898.html

SOURCE Blue Ridge Bankshares, Inc.


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