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, Inc. (Nasdaq: RRBI) announced a cash dividend of $0.08 per share, representing a 14% increase from the previous quarter's dividend of $0.07. This decision was confirmed by the board of directors on February 23, 2023, with the dividend payable on March 23, 2023, to shareholders of record by March 13, 2023. CEO Blake Chatelain expressed confidence in the company’s performance and outlook, stating the increase reflects a strong earnings confidence.
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