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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) reported Q1 2022 net income of $7.4 million ($1.03 EPS), down 13.1% from Q4 2021 and 8.3% year-over-year. The decrease was attributed to lower PPP loan income and mortgage fees, partially offset by increased securities income. Assets totaled $3.21 billion with non-PPP loan growth of 4.1%. The company continues its expansion in New Orleans and Acadiana, renewing its stock repurchase program. Operating expenses rose slightly to $14.1 million, while noninterest income fell 22.4% to $4.4 million.
Red River Bank is expanding its presence in the Greater New Orleans area with two new properties. On March 14, 2022, the bank signed a lease for a branch at 700 Baronne Street, pending regulatory approval. This will be their first full-service banking center in New Orleans. Additionally, on March 3, 2022, Red River Bank purchased property at 1914-1918 Veterans Memorial Boulevard in Metairie, with plans for a new center. The expansion aims to meet customer needs amid industry disruptions as competitors shrink their footprints in the region.
Red River Bancshares, Inc. (Nasdaq: RRBI) announces the retirement of founding director John C. Simpson from its Board of Directors at the upcoming 2022 annual shareholder meeting. Michael D. Crowell has been appointed as an independent director to replace him. CEO Blake Chatelain hailed Simpson's significant contributions to the company, while expressing confidence in Crowell's leadership experience in the forestry industry, predicting a positive impact on the board.
Red River Bancshares, Inc. (Nasdaq: RRBI) has declared a quarterly cash dividend of $0.07 per share, effective March 24, 2022. This dividend will be paid to shareholders who own shares by the close of business on March 14, 2022. Established in 1999, Red River Bank provides a comprehensive range of banking services across 27 centers in Louisiana, catering to both commercial and retail clients.
Red River Bancshares, Inc. (Nasdaq: RRBI) announced the renewal of its stock repurchase program, allowing up to $5 million in share buybacks from February 4, 2022 to December 31, 2022. The repurchases will occur in open markets or via private negotiations. CEO Blake Chatelain expressed confidence in the company’s financial condition, highlighting the plan as a tool for enhancing long-term shareholder value.
Red River Bancshares, founded in 1999, operates a network of 27 banking centers across Louisiana, serving both commercial and retail clients.
Red River Bancshares (Nasdaq: RRBI) reported a strong performance for Q4 2021, with a net income of $8.5 million, or $1.17 EPS, a 4.6% rise from Q3 and a 17.2% increase year-over-year. Total assets reached $3.22 billion, driven by a $205.8 million increase in deposits. Non-PPP loans grew by 5.7%, reaching $1.67 billion. The company completed a stock repurchase program of $4.9 million. Despite a decrease in net interest margin due to high liquidity and low rates, the outlook remains positive for 2022.
Red River Bank has launched its 27th banking center in Louisiana, located at 1911 West Pinhook Road, Lafayette, as of January 26, 2022. This marks the bank's first presence in Acadiana. Acadiana Market President Ben Smith has led the expansion since 2020, when the bank opened a loan and deposit production office. The new full-service center offers a range of services including mortgage lending and commercial banking, enhancing accessibility for local customers. A grand opening event is planned for spring 2022.
Red River Bancshares, Inc. (Nasdaq: RRBI) mourns the loss of Barry D. Hines, a foundational director who passed away on December 26, 2021. Hines was instrumental in the bank's development since its inception in 1999 and provided invaluable insights, particularly in public finance and healthcare. His absence will be felt deeply within the organization, according to President and CEO Blake Chatelain. The company extends its sympathies to Hines' family and friends during this difficult time.
Red River Bank has officially expanded into the New Orleans market with the opening of a loan and deposit production office on December 6, 2021, located at 1100 Poydras Street. The bank's president, Blake Chatelain, emphasized their community-focused approach and the expertise of the new market president, Meghan Donelon. The New Orleans team includes commercial relationship managers and additional staff to better serve the area. Established in 1999, Red River Bank operates multiple locations across Louisiana and is a subsidiary of Red River Bancshares, trading on Nasdaq under the symbol RRBI.
Red River Bancshares, Inc. (Nasdaq: RRBI) has announced a quarterly cash dividend of $0.07 per share, declared on November 18, 2021. This dividend will be payable on December 16, 2021, to shareholders on record as of December 6, 2021. The company, which operates Red River Bank across various Louisiana markets, offers a full suite of banking services to commercial and retail customers. Established in 1999, Red River Bank has built a network of 26 banking centers throughout the state.
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