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After two years of losses, Blue Ridge Bank is back in the black.

The $2.5 billion Henrico-based institution recently reported its first profitable quarter in eight quarters, in the latest sign that its turnaround plan led by longtime Richmond banker Billy Beale is taking hold.

Beale, who was brought out of retirement in 2023 to help right the ship after the bank fell under heightened regulatory scrutiny caused by rapid growth and an overreliance on deposits and loans with fintech companies, said in Blue Ridge’s second quarter earnings release that it can now “turn from a team of ‘fixers’ to a team of ‘growers’.”

In an interview with BizSense earlier this month, Beale said the profit milestone is good for morale and that, more importantly, the bank’s

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