Red River Bancshares Stock Price, News & Analysis

Red River Bancshares (Nasdaq: RRBI) reported a record net income of $8.2 million for Q2 2021, up 2.2% from Q1 2021 and 20.2% from Q2 2020. Earnings per share (EPS) rose to $1.13. Total assets increased by $57.8 million to $2.88 billion, driven by a $54.3 million rise in deposits. The net interest margin decreased to 2.54%, affected by lower PPP income and a high volume of low-yielding assets. The bank continued to focus on digital enhancements, appointing Tammi Salazar as COO and opening a new banking center in Lake Charles, Louisiana.

Red River Bank expanded its presence in Louisiana by opening a new full-service banking center in Lake Charles on July 6, 2021, marking its third location in the Southwest Louisiana market and 26th statewide. This strategic initiative, led by Market President Barry Brown, aims to enhance customer convenience and service quality. The new center, located at 1855 Country Club Road, is expected to feature advanced banking technology and a knowledgeable team. A grand opening event is scheduled for August, following the acquisition of the property in December 2020.

Red River Bank has appointed Jason Blalock as vice president and private banking relationship manager for the Acadiana market. With extensive banking experience, his role aims to enhance customer service and banking solutions.

Blalock will work alongside Ben Smith, market president, as they prepare to open a new full-service banking center at 1911 Pinhook Road, Lafayette, Louisiana, in the coming months. This expansion supports Red River Bank's commitment to personalized banking for its customers.

Red River Bancshares, Inc. (Nasdaq: RRBI) announced a quarterly cash dividend of $0.07 per common share, declared on May 27, 2021. This dividend is payable on June 24, 2021 to shareholders on record as of June 14, 2021. The company operates Red River Bank, a Louisiana-chartered bank since 1999, providing a range of banking services through 25 branches across various Louisiana markets, including Alexandria, Shreveport-Bossier City, Baton Rouge, and Lake Charles.

Red River Bancshares (Nasdaq: RRBI) achieved record net income of $8.1 million or $1.10 EPS for Q1 2021, marking a 19.6% increase year-over-year. The growth was attributed to a lower provision for loan losses and a 7.5% increase in deposits, driven by government stimulus. The net interest margin decreased to 2.76% due to lower PPP loan income. The company also raised its quarterly dividend to $0.07 per share and repurchased shares totaling $1 million. Total assets reached $2.82 billion.

Red River Bank has announced key organizational changes for the Northwest Louisiana market, including the appointment of Bridges Hall as senior vice president and credit policy officer, and the hiring of Jennifer Elliott as northwest market president. Hall has been with the bank since 2006, previously serving as the northwest market president. Elliott brings over 20 years of banking experience, having served as a market president at another banking institution. These changes aim to enhance customer service and operational expertise in the region.

Red River Bancshares (Nasdaq: RRBI) announces a leadership transition effective February 25, 2021. John C. Simpson steps down as Chairman but will remain on the board as Chairman Emeritus. Teddy R. Price, also a founding director, is appointed as the new Chairman. Additionally, Anna Brasher Moreau, DDS, MS, joins as an independent director. CEO Blake Chatelain expressed gratitude for Simpson's contributions and welcomed Price, highlighting his extensive experience. He praised Dr. Moreau's community ties and leadership skills, expecting her to significantly enhance the board's value.

Red River Bancshares, Inc. (Nasdaq: RRBI) declared a quarterly cash dividend of $0.07 per common share on February 25, 2021. This cash dividend is payable on March 25, 2021, to shareholders of record as of March 15, 2021. CEO Blake Chatelain expressed satisfaction with this increase, highlighting the company's commitment to returning value to shareholders. Red River Bancshares operates a network of 25 banking centers across Louisiana, offering a full suite of banking services tailored to both commercial and retail customers.

Red River Bancshares reported a net income of $7.3 million or $0.99 EPS for Q4 2020, unchanged from Q3 2020, but up 7.7% from Q4 2019. For the full year, net income was $28.1 million or $3.83 EPS, a 13.4% increase year-over-year. Total assets rose to $2.64 billion, with a substantial increase in deposits of $146.4 million during Q4. The return on assets stood at 1.13% for the quarter and 1.22% for the year. Nonperforming assets decreased to $4.2 million, or 0.16% of total assets.