Red River Bancshares Stock Price, News & Analysis

Red River Bank has officially expanded into the New Orleans market with the opening of a loan and deposit production office on December 6, 2021, located at 1100 Poydras Street. The bank's president, Blake Chatelain, emphasized their community-focused approach and the expertise of the new market president, Meghan Donelon. The New Orleans team includes commercial relationship managers and additional staff to better serve the area. Established in 1999, Red River Bank operates multiple locations across Louisiana and is a subsidiary of Red River Bancshares, trading on Nasdaq under the symbol RRBI.

Red River Bancshares, Inc. (Nasdaq: RRBI) has announced a quarterly cash dividend of $0.07 per share, declared on November 18, 2021. This dividend will be payable on December 16, 2021, to shareholders on record as of December 6, 2021. The company, which operates Red River Bank across various Louisiana markets, offers a full suite of banking services to commercial and retail customers. Established in 1999, Red River Bank has built a network of 26 banking centers throughout the state.

Red River Bank inaugurated its new full-service banking center on November 4, 2021, located at 1855 Country Club Road in Lake Charles, Louisiana. This facility, which opened on July 6, 2021, marks the bank's third center in Southwest Louisiana and its 26th in the state. The ceremony was attended by key officials, including President and CEO Blake Chatelain and Mayor Nic Hunter. Chatelain emphasized the convenience offered to local customers, while Swift from the Economic Development Alliance highlighted the bank's positive impact on the region. Red River Bank is a subsidiary of Red River Bancshares, trading as RRBI.

Red River Bancshares, Inc. (Nasdaq: RRBI) reported third quarter net income of $8.1 million, or $1.12 EPS, a slight decrease from the prior quarter but an increase of 11.7% year-over-year. Total assets increased by $142.3 million to $3.02 billion, primarily driven by a $135 million rise in deposits. The net interest margin increased to 2.60%. The company completed a $3 million stock repurchase program, renewing it for $5 million through August 2022. Nonperforming assets decreased to 0.08% of total assets, reflecting improved asset quality.

Red River Bank and the Federal Home Loan Bank of Dallas announced a $4,000 Partnership Grant Program award to Image Changers, a nonprofit in Shreveport, Louisiana. The funding, presented on October 7, will support Image Changers in enhancing its economic development, homeownership, and educational initiatives for low- to moderate-income families. In 2021, FHLB Dallas distributed $400,000 in grants, with an additional $200,250 from members, totaling over $600,000 to improve community welfare across five states.

Red River Bank and the Federal Home Loan Bank of Dallas have awarded $33,000 in Partnership Grant Program funds to support local nonprofits in Alexandria, Louisiana. The funds were distributed with $17,000 going to Serving Grace to enhance their Homebuyer Club and $16,000 to GAEDA Revitalization Corp. for home repairs for the elderly. The grants aim to improve community assistance through financial literacy and urban renewal efforts. This initiative is part of a broader $600,000 impact in 2021 across five states.

Red River Bank has fully resumed operations at all its banking centers affected by Hurricane Ida, just five days post-landfall on September 3, 2021. The bank initiated business-continuity efforts a week prior, ensuring minimal disruption to services and maintaining online banking options for customers with power. No damage was reported to the bank's centers. Red River Bank, a Louisiana state-chartered bank, emphasizes community resilience and commitment to customer support during recovery efforts following the hurricane's impact.

Red River Bank has announced its expansion into the New Orleans market, appointing Meghan Donelon as the New Orleans market president. With extensive financial services experience and deep local knowledge, she is expected to strengthen the bank's presence in Louisiana's largest market. President and CEO Blake Chatelain expressed optimism about expanding banking relationships in the region. The bank aims to provide relationship-focused banking and advanced digital services to meet the financial needs of local consumers and businesses.

On August 31, 2021, Red River Bancshares approved a stock repurchase program, allowing up to $5 million in buybacks from September 1, 2021 to August 31, 2022. The repurchases will occur in open market transactions or privately negotiated deals, depending on market conditions. President and CEO Blake Chatelain expressed that this renewal reflects the company's commitment to enhancing long-term shareholder value.