Red River Bancshares, Inc. - RRBI STOCK NEWS

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.

Red River Bank has acquired a former banking center at 1911 West Pinhook Road, Lafayette, Louisiana, aiming to enhance its presence in the Acadiana market. The new full-service banking center is expected to open in early 2021, subject to regulatory approvals, marking Red River Bank's first location in Acadiana and its 26th in Louisiana. This expansion aligns with the bank's strategic objective to grow across the state, driven by the leadership of Ben Smith, the Acadiana Market President.