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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 Bank has appointed Jason Blalock as vice president and private banking relationship manager for the Acadiana market. With extensive banking experience, his role aims to enhance customer service and banking solutions.
Blalock will work alongside Ben Smith, market president, as they prepare to open a new full-service banking center at 1911 Pinhook Road, Lafayette, Louisiana, in the coming months. This expansion supports Red River Bank's commitment to personalized banking for its customers.
Red River Bancshares, Inc. (Nasdaq: RRBI) announced a quarterly cash dividend of $0.07 per common share, declared on May 27, 2021. This dividend is payable on June 24, 2021 to shareholders on record as of June 14, 2021. The company operates Red River Bank, a Louisiana-chartered bank since 1999, providing a range of banking services through 25 branches across various Louisiana markets, including Alexandria, Shreveport-Bossier City, Baton Rouge, and Lake Charles.
Red River Bancshares (Nasdaq: RRBI) achieved record net income of $8.1 million or $1.10 EPS for Q1 2021, marking a 19.6% increase year-over-year. The growth was attributed to a lower provision for loan losses and a 7.5% increase in deposits, driven by government stimulus. The net interest margin decreased to 2.76% due to lower PPP loan income. The company also raised its quarterly dividend to $0.07 per share and repurchased shares totaling $1 million. Total assets reached $2.82 billion.
Red River Bank has announced key organizational changes for the Northwest Louisiana market, including the appointment of Bridges Hall as senior vice president and credit policy officer, and the hiring of Jennifer Elliott as northwest market president. Hall has been with the bank since 2006, previously serving as the northwest market president. Elliott brings over 20 years of banking experience, having served as a market president at another banking institution. These changes aim to enhance customer service and operational expertise in the region.
Red River Bancshares (Nasdaq: RRBI) announces a leadership transition effective February 25, 2021. John C. Simpson steps down as Chairman but will remain on the board as Chairman Emeritus. Teddy R. Price, also a founding director, is appointed as the new Chairman. Additionally, Anna Brasher Moreau, DDS, MS, joins as an independent director. CEO Blake Chatelain expressed gratitude for Simpson's contributions and welcomed Price, highlighting his extensive experience. He praised Dr. Moreau's community ties and leadership skills, expecting her to significantly enhance the board's value.
Red River Bancshares, Inc. (Nasdaq: RRBI) declared a quarterly cash dividend of $0.07 per common share on February 25, 2021. This cash dividend is payable on March 25, 2021, to shareholders of record as of March 15, 2021. CEO Blake Chatelain expressed satisfaction with this increase, highlighting the company's commitment to returning value to shareholders. Red River Bancshares operates a network of 25 banking centers across Louisiana, offering a full suite of banking services tailored to both commercial and retail customers.
Red River Bancshares reported a net income of $7.3 million or $0.99 EPS for Q4 2020, unchanged from Q3 2020, but up 7.7% from Q4 2019. For the full year, net income was $28.1 million or $3.83 EPS, a 13.4% increase year-over-year. Total assets rose to $2.64 billion, with a substantial increase in deposits of $146.4 million during Q4. The return on assets stood at 1.13% for the quarter and 1.22% for the year. Nonperforming assets decreased to $4.2 million, or 0.16% of total assets.
Red River Bancshares, Inc. (Nasdaq: RRBI) announced the passing of F. William Hackmeyer, Jr., a founding director, on January 3, 2021. Mr. Hackmeyer was recognized for his extensive experience in commercial real estate and his invaluable contributions to the board. President and CEO Blake Chatelain expressed deep sadness at the loss, highlighting Mr. Hackmeyer's commitment and guidance to the company. Red River Bancshares operates 25 banking centers across Louisiana, offering tailored banking products and services.
Red River Bank has expanded its operations by purchasing a banking center building at 1855 Country Club Road, Lake Charles. Following regulatory approvals, the bank plans to launch a full-service center in early 2021. This will mark Red River Bank’s third facility in the Lake Charles/Sulphur area and its 26th in Louisiana. Barry Brown, the Southwest Louisiana Market President, has spearheaded this expansion effort since 2017, reinforcing the bank's commitment to growth in the region.
Red River Bancshares, Inc. (Nasdaq: RRBI) has declared a quarterly cash dividend of $0.06 per common share, payable on December 17, 2020. Shareholders of record as of December 7, 2020 will receive this dividend. The company operates Red River Bank, which serves commercial and retail customers through 25 banking centers across Louisiana.
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