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## Note 13. Fair Value Measurements (Continued) 

## NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 

## BLUE RIDGE BANKSHARES, INC. 

December 31,2012 

The following sections provide a description of the valuation methodologies used for mstmments measured at fair value, as well as the general classification of such instmments pursuant to the valuation hierarchy: 

Securities: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid govemment bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models or quoted prices of securities with similar characteristics. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 ofthe valuation hierarchy. Currently, all ofthe Company’s securities are considered to be Level 2 securities. 

Fair values of assets and liabilities measured on a recurring basis at December 31, 2012 and 2011 are as follows: 

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