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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 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.
Red River Bancshares, Inc. (Nasdaq: RRBI) reported a net income of $7.3 million for Q3 2020, translating to $0.99 EPS, a 6.3% rise from Q2 2020. Year-to-date net income reached $20.9 million or $2.84 EPS, marking a 15.5% increase YoY. Assets rose by $129.1 million to $2.49 billion, driven by a $124.6 million rise in deposits. Notable highlights include record-high mortgage lending and a new stock repurchase program. Despite facing challenges from hurricanes and the pandemic, the Bank's operations remained stable, with a 1.20% return on assets.
Red River Bank has recently expanded its operations into Lafayette, Louisiana, marking a significant growth step. The bank has opened a combined loan and deposit production office at 91 Settlers Trace, Suite C. CEO Blake Chatelain expressed enthusiasm for serving local customers in the Acadiana market, emphasizing a focus on building financial relationships. Established in 1999, Red River Bank is the seventh largest community bank in Louisiana, primarily catering to consumers and small to mid-sized businesses. It operates 25 centers across the state and trades under the symbol RRBI.
Red River Bank continues to provide banking services following Hurricane Laura's impact on Louisiana. As of August 28, 2020, most banking centers and ATMs remain operational, particularly in Central Louisiana, Shreveport/Bossier City, Baton Rouge, and Covington. Power restoration is expected in Central Louisiana by the weekend, although the situation in Southwest Louisiana is still uncertain. CEO Blake Chatelain noted that all employees are safe and no bank locations were damaged, emphasizing their commitment to helping customers during this challenging time.
Red River Bancshares, Inc. (Nasdaq: RRBI) announced a stock repurchase program authorizing up to $3 million in share buybacks through August 27, 2021. The program aims to enhance shareholder value and promote liquidity. Additionally, the company declared a quarterly cash dividend of $0.06 per share, payable on September 24, 2020, to shareholders of record by September 14, 2020. CEO Blake Chatelain emphasized the commitment to shareholders through these initiatives.
Red River Bank is expanding into the Lafayette market by opening a loan production office, with plans for a full-service banking center in the future. Ben Smith has been appointed as Market President to lead this initiative. With $2.4 billion in assets, Red River Bank emphasizes organic growth over acquisitions and aims to offer personalized banking services in Acadiana. This strategic move aligns with the bank's mission to serve Louisiana consumers and businesses, leveraging Smith’s 15 years of commercial banking experience in the region.
Red River Bancshares, Inc. (Nasdaq: RRBI) reported a net income of $6.9 million for Q2 2020, or $0.93 EPS, marking a 1.6% increase from Q1 2020 and a 23.8% increase year-over-year. The Company originated $199.0 million in Paycheck Protection Program (PPP) loans, generating $730,000 in origination fees. Despite a challenging economic landscape due to COVID-19, assets grew 17.5% to $2.36 billion. However, the net interest margin decreased to 3.12% from 3.41% in the previous quarter, negatively impacted by the low-interest-rate environment.
Red River Bancshares (Nasdaq: RRBI) declared a quarterly cash dividend of $0.06 per share on May 28, 2020. This dividend is payable on June 25, 2020, to shareholders recorded by June 15, 2020. The bank, established in 1999, operates 25 banking centers across several regions in Louisiana, offering a full suite of banking services for both commercial and retail customers.
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