Welcome to our dedicated page for Red River Bancshares news (Ticker: RRBI), a resource for investors and traders seeking the latest updates and insights on Red River Bancshares stock.
Red River Bancshares, Inc. (symbol: RRBI) is a Louisiana-based bank holding company founded in 1999. The company operates through its subsidiary, Red River Bank, which offers a comprehensive range of financial services tailored to meet the needs of both commercial and retail customers. With a network of 27 banking centers across Louisiana and a combined loan and deposit production office in New Orleans, Red River Bank plays a crucial role in supporting the financial needs of businesses, professionals, individuals, and public entities in the region.
Red River Bank provides various banking products including demand deposits, savings deposits, and time deposits. Its diversified loan portfolio includes commercial real estate loans, residential loans, commercial and industrial loans, and construction and development loans. The bank also offers specialized services such as Treasury Management Services, Private Banking Services, and Brokerage Services.
One of the bank’s significant milestones includes its recognition by S&P Market Intelligence as a Top 50 Community Bank in 2022, ranking 45th. This accolade underscores the bank’s financial strength and performance.
In terms of financial performance, Red River Bancshares reported a net income of $8.0 million for the third quarter of 2023. Although this represents a slight decrease compared to the previous quarter, the bank maintained strong liquidity and capital ratios. The company's strategic initiatives include active stock repurchase programs and a cautious approach to navigating the current economic environment characterized by higher interest rates and economic uncertainties.
Red River Bank is committed to conservative and customer-oriented banking principles, ensuring it remains well-positioned for future growth. The bank’s assets totaled $3.07 billion as of September 30, 2023, and it continues to expand its services and reach within Louisiana.
- Financial Highlights: Quarterly net income: $8.0 million, EPS: $1.12 per share
- Key Services: Treasury Management, Private Banking, and Brokerage Services
- Operational Footprint: 27 banking centers across Louisiana
As of September 30, 2023, Red River Bank had a liquid asset ratio of 10.51% and maintained robust borrowing capacity to meet its liquidity needs. The bank’s strategic initiatives and careful management of financial conditions reflect its resilience and adaptability in a dynamic economic landscape.
Red River Bancshares (Nasdaq: RRBI) has announced the renewal of its stock repurchase program, authorizing the repurchase of up to $5.0 million of its outstanding common stock. The program will run from January 1, 2025 through December 31, 2025, replacing the current program expiring December 31, 2024. The company plans to execute repurchases through open market transactions at prevailing prices or through privately negotiated deals, demonstrating its commitment to returning excess capital to shareholders.
Red River Bancshares (Nasdaq: RRBI) has announced a private stock repurchase agreement with two shareholders on November 5, 2024. The company will repurchase 50,000 shares of its common stock for $2.5 million. The purchase price represents a discount compared to the 10-, 20-, and 30-day volume weighted average price as of November 1, 2024. The company's CEO stated this move demonstrates their commitment to increasing shareholder value.
Red River Bancshares reported Q3 2024 net income of $8.8 million ($1.27 EPS), up 9.6% from Q2 2024 and 9.1% from Q3 2023. The company achieved a return on assets of 1.13% and return on equity of 11.11%. Net interest income increased to $22.5 million, with net interest margin improving to 2.98%. Total assets reached $3.10 billion with deposits of $2.75 billion. The company maintained strong asset quality with nonperforming assets at 0.10% of total assets and completed a significant stock repurchase of 60,000 shares at $3.0 million. The allowance for credit losses stood at 1.06% of loans held for investment.
Red River Bancshares (Nasdaq: RRBI) has declared a quarterly cash dividend of $0.09 per share of common stock. The dividend will be paid on December 19, 2024, to shareholders of record as of the close of business on December 9, 2024. This announcement was made following the board of directors' meeting on October 24, 2024.
Red River Bancshares, Inc. (Nasdaq: RRBI) has announced a private stock repurchase agreement and an amendment to its existing repurchase program. The company will repurchase 60,000 shares of its common stock from two shareholders in a privately-negotiated transaction for $3.0 million. This purchase price represents a discount to the 10-, 20-, and 30-day volume weighted average price as of July 31, 2024.
As a result of this transaction, Red River Bancshares has reduced the availability under its previously announced 2024 $5.0 million repurchase program by $3.0 million. Following the closure of this deal, the company will have approximately $1.2 million of remaining capacity under the Repurchase Program.
Red River Bancshares, holding company for Red River Bank, reported Q2 2024 net income of $8.0 million, or $1.16 EPS, a 2.5% decrease from Q1 and a 10.9% decrease YoY. Net interest income grew 2.0% QoQ to $21.8 million, driven by improved loan yields. Deposits fell 1.1% to $2.72 billion due to seasonal outflows. Loans HFI slightly increased to $2.05 billion.
Operating expenses rose 5.1% QoQ to $16.7 million. Noninterest income grew 3.4% QoQ to $5.1 million, boosted by mortgage and SBIC income. NPAs increased by 26.8% to $3.2 million. The company repurchased 16,220 shares for $764,000, with $4.2 million remaining in the buyback program.
Capital levels remained strong with a stockholders' equity to assets ratio of 10.07%. A new banking center opened in New Orleans, contributing to the company’s expansion plan. The firm was ranked 9th by Bank Director Magazine among top-performing financial institutions with assets under $5 billion.
Red River Bancshares, Inc. (Nasdaq: RRBI) has announced a quarterly cash dividend of $0.09 per share of common stock. The dividend was declared by the company's board of directors on July 25, 2024. Shareholders of record as of the close of business on September 9, 2024, will be eligible to receive the dividend, which is scheduled for payment on September 19, 2024. This announcement demonstrates Red River Bancshares' commitment to providing regular returns to its shareholders, potentially indicating financial stability and confidence in the company's performance.
Red River Bancshares (Nasdaq: RRBI) announced a quarterly cash dividend of $0.09 per common share, declared by the board of directors on May 23, 2024.
This dividend is payable on June 20, 2024, to shareholders who are on record as of June 10, 2024.
Red River Bancshares, Inc. (Nasdaq: RRBI) mourns the passing of Director Robert A. Nichols, a key figure in the growth and success of Red River Bank. Nichols, who passed away on May 6, 2024, played a vital role in the bank's expansion into Northwest Louisiana and its subsequent statewide growth. His contributions, business acumen, and unwavering support will be sorely missed by the Red River Bank family.
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