Red River Bank expanding to Lafayette, Louisiana area

Rhea-AI Summary

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.

Positive

• Expansion into the Lafayette market increases potential customer base.
• Appointment of experienced Market President Ben Smith enhances local leadership.
• $2.4 billion in assets indicates a strong financial foundation for growth.

Negative

• None.

ALEXANDRIA, La., July 31, 2020 (GLOBE NEWSWIRE) -- Red River Bank announced that it intends to expand its operations to the Lafayette market, initially with plans to open a loan production office and later provide full-service banking center options. Ben Smith has joined the Red River Bank team as Market President to lead the effort in developing a presence in the Acadiana region.

Smith is a native of Houma, Louisiana, and a graduate of the University of Louisiana at Lafayette. Smith has spent the last 15 years in commercial banking and has been in Lafayette for the last 10 years after previously working in New Orleans and Houma.

Blake Chatelain, President and CEO of Red River Bank said, “Red River Bank has $2.4 billion in assets, and the bank has been built primarily through organic expansion, not acquisition. We are a bank made in Louisiana and made for Louisiana, and we are eager to serve Acadiana. We look forward to providing the high level of expertise in banking and personal customer service that Red River Bank is known for, and we are pleased to welcome Ben to the team.”

Smith can be reached at 337-541-8765 or at ben.smith@redriverbank.net.

Red River Bank is the seventh largest Louisiana-based community bank and serves customers from its 25 banking centers in and surrounding Alexandria, Shreveport/Bossier, Baton Rouge, Lake Charles and Covington, Louisiana. Headquartered in Alexandria, LA and founded in 1999, the bank specializes in financial services and solutions for Louisiana consumers and small to mid-size businesses.  Red River Bank is a subsidiary of Red River Bancshares, Inc., which trades under the trading symbol RRBI on the Nasdaq Global Select Market. Additional information can be found at redriverbank.net.

Media Contact: 
Evelyn Jones, Marketing Dir.
         
C: 318-664-1513   O: 318-561-5903

FAQ

What is Red River Bank's plan for the Lafayette market?

Red River Bank plans to open a loan production office in Lafayette, with intentions to establish a full-service banking center later.

Who is leading Red River Bank's expansion in Lafayette?

Ben Smith has been appointed as Market President to lead Red River Bank's expansion efforts in Lafayette.

What is the asset size of Red River Bank?

Red River Bank has $2.4 billion in assets, showcasing its strong financial position.

When was Red River Bank founded?

Red River Bank was founded in 1999 and is headquartered in Alexandria, LA.

What trading symbol does Red River Bancshares use?

Red River Bancshares trades under the symbol RRBI on the Nasdaq Global Select Market.