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## Note 7. Borrowings (Continued) 

The principal on FHLB borrowings matures as follows: 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 

## BLUE RIDGE BANKSHARES, INC. 

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December 31,2012 

At December 31, 2011, the Bank had fixed rate advances from the Federal Home Loan Bank of Atlanta (FHLB) totaling $17,592,857. 

In addition the Bank has established lines of credit for federal fiinds purchases of $5,000,000 with its correspondent bank of which $752,000 was borrowed as of December 31, 2011. 

## Note 8. Preferred Stock 

The Company is authorized to issue 250,000 shares of preferred stock at a par value of $50 per share. On August 18, 2011, the Company issued 4,500 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series A to the United States Department of Treasury as part of the Small Business Lending Fund (SBLF) program. The shares were issued at $1,000 per share, which is also the liquidation value, for a total issuance of $4,500,000. The initial dividend on the preferred stock was 5.00%, and future dividend rates are contingent upon the Bank’s ability to increase its qualified small business lending, as defined by the US Treasury. As of December 31, 2012, the dividend rate was 1.72%. If the preferred stock is still outstanding 4.5 years after issuance, the rate, regardless of qualified small business lending growth, will increase to 9%. 

## Note 9. Common Stock 

The Company has 5,000,000 shares of no par value authorized common stock of which 942,221 and 941,913 shares were issued and outstanding at December 31,2012 and 2011, respectively. 

