Red River Bank purchases banking center location in South Louisiana

Rhea-AI Summary

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.

Positive

• Acquisition of a building for a new full-service banking center in Lafayette.
• First banking location in the Acadiana market, indicating expansion strategy.
• Strategic growth plan aligns with long-term objectives for market presence.

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• None.

ALEXANDRIA, La., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Red River Bank has purchased a former banking center building located at 1911 West Pinhook Road in Lafayette, Louisiana and plans to expand its banking operations in the Acadiana market. Red River Bank expects to open a full-service banking center at the Pinhook location early in 2021, pending all regulatory approvals. This will be Red River Bank’s first banking center location in the Acadiana market and its 26^th banking center in Louisiana. The bank currently has a combined Loan and Deposit Production Office at 91 Settlers Trace Building 4 Suite C in Lafayette. Ben Smith is the Red River Bank Acadiana Market President.

“Expanding throughout Louisiana is part of our strategic plan, and establishing a full-service banking center in the Acadiana market fits into our long-term plans. Ben Smith is leading the effort in developing Red River Bank’s presence in Acadiana and is also committed to providing the personal, customized financial solutions that Red River Bank is known for,” said Red River Bank President and Chief Executive Officer Blake Chatelain.

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

About Red River Bank
Red River Bank is the fifth largest Louisiana-based community bank and serves customers from its 25 banking centers in and surrounding Alexandria, Shreveport/Bossier City, Baton Rouge, Lake Charles and Covington, Louisiana, and one combined loan and deposit production office in Lafayette, Louisiana. Headquartered in Alexandria, Louisiana 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.

FAQ

What is the significance of the new banking center opened by Red River Bank in Lafayette?

The new banking center marks Red River Bank's first establishment in the Acadiana market, enhancing its presence in Louisiana.

When is Red River Bank expected to open its new banking center in Lafayette?

The new banking center is anticipated to open in early 2021, pending regulatory approvals.

Where is the new Red River Bank location situated?

The new banking center is located at 1911 West Pinhook Road, Lafayette, Louisiana.

Who is leading the development of Red River Bank in the Acadiana market?

Ben Smith is the Acadiana Market President leading the expansion efforts of Red River Bank.

What is the stock symbol for Red River Bancshares?

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