Red River Bank Announces Locations of Planned Banking Centers in New Orleans, Louisiana
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.
- Expansion into New Orleans market with two new properties.
- First full-service bank planned at 700 Baronne Street.
- Acquisition of property in Metairie for additional banking center.
- Strategic opportunity due to competitors reducing operations in Louisiana.
- None.
ALEXANDRIA, La., March 16, 2022 (GLOBE NEWSWIRE) -- Red River Bank recently secured two properties in the Greater New Orleans area to further its expansion into the New Orleans market. On March 14, 2022, Red River Bank signed an agreement to lease an existing branch location at 700 Baronne Street in New Orleans, which, pending regulatory approval, will be the bank’s first full-service banking center in this market. On March 3, 2022, Red River Bank purchased property at 1914-1918 Veterans Memorial Boulevard in Metairie. Construction plans are underway for a full-service banking center building at this Metairie location. The bank entered the New Orleans market in December 2021 with the opening of a combined loan and deposit production office at 1100 Poydras Street, Suite 925, in New Orleans.
Of the expansion, Red River Bank President and Chief Executive Officer Blake Chatelain, stated, “Over the past two years, Red River Bank has continued to implement our strategy of building a statewide presence. Our recent announcement of a New Orleans expansion comes as that market experiences several banking-industry disruptions that have created the opportunity for us to build a solid team in the largest market in our state. Across Louisiana, we have seen our large bank competitors shrinking their footprints, limiting access and services. Our goal is simple: bring our customers a full-service, Louisiana-based, community-banking experience.”
“Establishing full-service banking centers in the New Orleans market will enable us to meet a wider range of customer needs,” said Red River Bank New Orleans Market President Meghan Donelon. “Our growing team of experienced bankers is eager to offer individual and commercial customers our full suite of products and services, inclusive of traditional retail, commercial, mortgage, and private banking. Adding locations in both Orleans and Jefferson parishes will allow us to serve a much broader community, which aligns with our vision for the New Orleans market.”
About Red River Bank
Red River Bank is a Louisiana state-chartered bank established in Alexandria, Louisiana, in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of its commercial and retail customers. Red River Bank operates from a network of 27 banking centers throughout Louisiana and two combined loan and deposit production offices, one each in Lafayette, Louisiana and New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area ("MSA"); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; and Acadiana, which includes the Lafayette MSA. Red River Bank is a subsidiary of Red River Bancshares, Inc., which trades under the trading symbol RRBI on the Nasdaq Global Select Market. Learn more at redriverbank.net.
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