Blue Ridge Bank

Overview / Commentary
1 East Market Street
Martinsville, VA 24112

Blue Ridge Bank is headquartered in MARTINSVILLE and is the 11th largest bank in the state of Virginia. It is also the 387th largest bank in the nation. It was established in 2000 and as of December of 2023, it had grown to 513 employees at 27 locations. Blue Ridge Bank's CD rates are 6X the national average, but it has a C- health rating.

Reviews (1)

This Bank Is Very Bad.

This bank is very bad. I am posting my story here now, hoping to make a reference for those friends who want to become their customers.

I was very excited when I saw Blue Ridge Bank, N.A. on Google because they provide a free checking account. Then I called them on the second working day, but unfortunately, none of them answered my call. I didn’t give up, I emailed them, excitingly, I received their reply via email the next day. Then, I told them my needs and all the problems I faced during the pandemic. Soon I received their reply, and they told me that their free checking account can meet my needs, and those problems I face will not affect me to open a free checking account. I remember very clearly that I confirmed to them twice about these issues, they still told me that these problems would not affect me as their customer. So far I have been very excited and happy. Next, they asked me to submit an account opening application on their website, the second month after my application was submitted, they finally responded to me, and they asked me to send me my IDs to them, and sign an application, and I also deposited 100$ into my new account via wire transfer and paid a wire transfer receiving fee of 16$ (they cannot make deposits through ACH.). Then the next day they sent me the online banking details. All this seems perfect. But unfortunately, the problem started a month later, suddenly they sent me an email and asked me to provide more documents to be able to continue to use my account. I was very surprised and tried to explain to them again the problems I am facing during the pandemic. Then they understood my difficulties and gave me a month to prepare these documents. Unfortunately, during the pandemic, the relevant departments were unable to answer the phone.

Really, I was very disappointed after I got online banking details, because the UI of their online banking page is very bad and the mobile app is also very difficult to use. In fact, they hope to close my account and I don't feel any pity.

At the beginning of July, I was suddenly unable to login to my online banking account. Then I sent an email and called them to ask them why. They did not reply to my emails, but just called me back and told me that they would help me to reset my online bank account. And they never told me that my account has been closed, as of today, they have not wanted to refund my money. I am very angry. I have sent them another email and called them. Ah, I just hope they can refund my money.

If you want to be their customer, please don't trust their sales, because they won't tell you the truth. Put another way, they just want your money.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Blue Ridge Bank has a negative return on equity.

Health Grade Components

FDIC Certificate #35274
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-1.27%
Return on Equity - YTD-17.66%
Annual Interest Income$169MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$3.09B$3.1B
LoansQ4 2023vs Q4 2022$2.44B$2.45B
DepositsQ4 2023vs Q4 2022$2.57B$2.51B
Equity CapitalQ4 2023vs Q4 2022$200.9MM$255.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$35.9MM$30.7MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$60.6MM$83.8MM
Real Estate OwnedQ4 2023vs Q4 2022$0$195K
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Always verify rates and promotions with the bank or credit union. We are not Blue Ridge Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Blue Ridge Bank Savings Account Rates

0.20%*-$100kKasasa Saver
OTHER TIERS: 0.05% $100k+
0.15%--Health Savings Account
0.03%--Savings Account
0.03%$25-Jackpot Savings

Blue Ridge Bank Money Market Rates

0.20%*$250k*-Money Market Account
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $250k
0.15%$1k-Municipal Money Market

Blue Ridge Bank Checking Account Rates

1.00%*$100*$15kKasasa Cash
OTHER TIERS: 0.05% $15k+
0.10%--Charitable Account

Blue Ridge Bank CD Rates

5.35%$1k-12 Months Golden Advantage Certificate Special
5.25%$10k-10 Month CD Special - New Money
4.75%$10k-15 Month CD Special - New Money
4.60%$1k-30 Months Golden Advantage Certificate Special
4.50%$10k-23 Month CD Special - New Money
4.20%$1k-6 Month CD
4.20%$100k-6 Month Jumbo CD
4.00%$1k-60 Months Golden Advantage Certificate Special
1.50%$1k-60 Month CD
1.45%$1k-48-59 Month CD
1.40%$1k-36-47 Month CD
1.40%$1k-36 Months Golden Advantage Certificate Special
1.35%$1k-24-35 Month CD
1.35%$100k-12 Month Jumbo CD
1.30%$1k-18-23 Month CD
1.25%$1k-12-17 Month CD
1.20%$100k-7-11 Month Jumbo CD
1.10%$100k-3-5 Month Jumbo CD
1.10%$1k-7-11 Month CD
1.00%$1k-3-5 Month CD
1.00%$100k-1-2 Month Jumbo CD

Blue Ridge Bank IRA Rates

4.20%$1k-6 Month IRA
1.50%$1k-60 Month IRA
1.45%$1k-48-59 Month IRA
1.40%$1k-36- 47 Month IRA
1.35%$1k-24-35 Month IRA
1.30%$1k-18-23 Month IRA
1.25%$1k-12-17 Month IRA
1.10%$1k-7- 11 Month IRA
1.00%$1k-3-5 Month IRA


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