Red River Bancshares Stock Price, News & Analysis

Red River Bank has expanded its operations by purchasing a banking center building at 1855 Country Club Road, Lake Charles. Following regulatory approvals, the bank plans to launch a full-service center in early 2021. This will mark Red River Bank’s third facility in the Lake Charles/Sulphur area and its 26th in Louisiana. Barry Brown, the Southwest Louisiana Market President, has spearheaded this expansion effort since 2017, reinforcing the bank's commitment to growth in the region.

Red River Bancshares, Inc. (Nasdaq: RRBI) has declared a quarterly cash dividend of $0.06 per common share, payable on December 17, 2020. Shareholders of record as of December 7, 2020 will receive this dividend. The company operates Red River Bank, which serves commercial and retail customers through 25 banking centers across Louisiana.

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.

Red River Bancshares, Inc. (Nasdaq: RRBI) reported a net income of $7.3 million for Q3 2020, translating to $0.99 EPS, a 6.3% rise from Q2 2020. Year-to-date net income reached $20.9 million or $2.84 EPS, marking a 15.5% increase YoY. Assets rose by $129.1 million to $2.49 billion, driven by a $124.6 million rise in deposits. Notable highlights include record-high mortgage lending and a new stock repurchase program. Despite facing challenges from hurricanes and the pandemic, the Bank's operations remained stable, with a 1.20% return on assets.

Red River Bank has recently expanded its operations into Lafayette, Louisiana, marking a significant growth step. The bank has opened a combined loan and deposit production office at 91 Settlers Trace, Suite C. CEO Blake Chatelain expressed enthusiasm for serving local customers in the Acadiana market, emphasizing a focus on building financial relationships. Established in 1999, Red River Bank is the seventh largest community bank in Louisiana, primarily catering to consumers and small to mid-sized businesses. It operates 25 centers across the state and trades under the symbol RRBI.

Red River Bank continues to provide banking services following Hurricane Laura's impact on Louisiana. As of August 28, 2020, most banking centers and ATMs remain operational, particularly in Central Louisiana, Shreveport/Bossier City, Baton Rouge, and Covington. Power restoration is expected in Central Louisiana by the weekend, although the situation in Southwest Louisiana is still uncertain. CEO Blake Chatelain noted that all employees are safe and no bank locations were damaged, emphasizing their commitment to helping customers during this challenging time.

Red River Bancshares, Inc. (Nasdaq: RRBI) announced a stock repurchase program authorizing up to $3 million in share buybacks through August 27, 2021. The program aims to enhance shareholder value and promote liquidity. Additionally, the company declared a quarterly cash dividend of $0.06 per share, payable on September 24, 2020, to shareholders of record by September 14, 2020. CEO Blake Chatelain emphasized the commitment to shareholders through these initiatives.

Red River Bank is expanding into the Lafayette market by opening a loan production office, with plans for a full-service banking center in the future. Ben Smith has been appointed as Market President to lead this initiative. With $2.4 billion in assets, Red River Bank emphasizes organic growth over acquisitions and aims to offer personalized banking services in Acadiana. This strategic move aligns with the bank's mission to serve Louisiana consumers and businesses, leveraging Smith’s 15 years of commercial banking experience in the region.

Red River Bancshares, Inc. (Nasdaq: RRBI) reported a net income of $6.9 million for Q2 2020, or $0.93 EPS, marking a 1.6% increase from Q1 2020 and a 23.8% increase year-over-year. The Company originated $199.0 million in Paycheck Protection Program (PPP) loans, generating $730,000 in origination fees. Despite a challenging economic landscape due to COVID-19, assets grew 17.5% to $2.36 billion. However, the net interest margin decreased to 3.12% from 3.41% in the previous quarter, negatively impacted by the low-interest-rate environment.