Welcome to our dedicated page for Red River Bancshares news (Ticker: RRBI), a resource for investors and traders seeking the latest updates and insights on Red River Bancshares stock.
Red River Bancshares, Inc. reports developments for a Louisiana bank holding company whose subsidiary, Red River Bank, provides commercial and retail banking products and services. Recurring updates cover unaudited quarterly results, net interest income and margin, loan and deposit activity, asset quality, and the performance of a diversified loan portfolio serving businesses, professionals, individuals, and public entities.
Company news also includes capital-management actions such as quarterly cash dividends, stock repurchase programs and private repurchases, along with organic expansion of banking centers and production offices in Louisiana markets including Alexandria, Shreveport-Bossier City, Baton Rouge, Lake Charles, Covington, Lafayette, and New Orleans.
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.
Red River Bancshares, Inc. (Nasdaq: RRBI) announced a quarterly cash dividend of $0.07 per share, declared on August 26, 2021. This dividend will be payable on September 23, 2021, to shareholders recorded by the close of business on September 13, 2021. The bank holding company operates 26 banking centers across Louisiana, providing a range of banking products and services tailored for both commercial and retail customers.
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.