Red River Bancshares Stock Price, News & Analysis

Red River Bancshares, Inc. (Nasdaq: RRBI) announced the renewal of its stock repurchase program, allowing the company to buy back up to $5 million of its common stock from January 1, 2023 to December 31, 2023. CEO Blake Chatelain expressed confidence in this move, emphasizing the company's commitment to return excess capital to shareholders. The repurchases will occur in the open market or through privately negotiated transactions, depending on market conditions.

Red River Bancshares, Inc. (Nasdaq: RRBI) reported a third-quarter 2022 net income of $10.2 million, or $1.42 per diluted share, marking an 11.4% increase from the previous quarter. This performance reflects a net interest income rise to $23.1 million, driven by higher interest rates and improved asset mix, resulting in a net interest margin of 3.06%. Despite a slight decline in deposits and assets, loans held for investment grew by 2.1%. The Bank continues its expansion in New Orleans, opening its first full-service banking center. The economic landscape remains challenging, with inflation and interest rate impacts on customer behavior.

Red River Bancshares, Inc. (Nasdaq: RRBI) declared a quarterly cash dividend of $0.07 per share on August 25, 2022. Shareholders of record by September 12, 2022, will receive the dividend, payable on September 22, 2022. This decision reflects the company's ongoing commitment to providing returns to its investors amidst its banking operations across Louisiana.

Red River Bank has opened its first full-service banking center in New Orleans at 700 Baronne Street, marking its 28th location in Louisiana. This center complements the previously established loan and deposit production office in the Energy Centre, opened in December 2021. The Bank aims to provide customer-focused services in the evolving New Orleans banking landscape. President and CEO Blake Chatelain emphasized local credit decisions and quick customer service. A grand opening event is planned later this year.

Red River Bancshares, Inc. (Nasdaq: RRBI) reported a strong second quarter of 2022, with net income of $9.1 million ($1.27 EPS), up 23.7% from Q1. Year-to-date net income rose to $16.5 million ($2.30 EPS), a 1.4% increase year-over-year. Key drivers included a $2.4 million rise in net interest income, reaching $21.1 million, supported by a favorable interest rate environment. However, total assets decreased by $91.3 million to $3.12 billion, primarily due to a $77.5 million drop in deposits. The bank continues its organic expansion in new markets, reflecting solid loan growth of 6.1%.

Red River Bank recently inaugurated its first full-service banking center in the Acadiana market, located in Lafayette, Louisiana. This center, which opened on January 26, 2022, represents the bank's 27th location in the state. The ribbon-cutting ceremony took place on June 7, 2022, attended by local officials and bank leaders, including President Blake Chatelain. Since announcing its Acadiana expansion in July 2020, Red River Bank has focused on delivering personalized banking services in the region, aiming to strengthen the local economy.

Red River Bancshares, Inc. (Nasdaq: RRBI) has announced a quarterly cash dividend of $0.07 per share, declared on May 26, 2022. This dividend will be paid on June 23, 2022, to shareholders of record by the close of business on June 13, 2022. The company operates Red River Bank, which offers a comprehensive suite of banking services across 27 locations in Louisiana and aims to cater to both commercial and retail clients.

Red River Bancshares (Nasdaq: RRBI) reported Q1 2022 net income of $7.4 million ($1.03 EPS), down 13.1% from Q4 2021 and 8.3% year-over-year. The decrease was attributed to lower PPP loan income and mortgage fees, partially offset by increased securities income. Assets totaled $3.21 billion with non-PPP loan growth of 4.1%. The company continues its expansion in New Orleans and Acadiana, renewing its stock repurchase program. Operating expenses rose slightly to $14.1 million, while noninterest income fell 22.4% to $4.4 million.

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.