Red River Bancshares (RRBI) reported $33.19 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 15.7%. EPS of $1.73 for the same period compares to $1.37 a year ago.The reported revenue represents a surprise of +2.72% over the Zacks Consensus Estimate of $32.31 million. With the consensus EPS estimate being $1.63, the EPS surprise was +6.14%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare t ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Red River Bancshares, Inc. Reports Fourth Quarter 2025 Financial Results ALEXANDRIA, Louisiana, January 30, 2026 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the "Company") (Nasdaq: RRBI), the holding company for Red River Bank (the "Bank"), announced today its unaudited financial results for the fourth quarter of 2025. Net income for the fourth quarter of 2025 was $11.4 million, or $1.73 per diluted common share ("EPS"), compared to $10.8 million, or $1.63 EPS, for the ...

Core Insights - Red River Bancshares, Inc. reported record-high net income for both the fourth quarter and the full year of 2025, with net income of $11.4 million for Q4 and $42.8 million for the year, representing increases of 5.7% and 24.9% respectively compared to previous periods [2][3][5]. Financial Performance - For Q4 2025, net income was $11.4 million, or $1.73 per diluted share, compared to $10.8 million, or $1.63 per diluted share in Q3 2025 [2]. - The return on assets for Q4 2025 was 1.38%, and the return on equity was 12.60% [2]. - For the full year 2025, net income was $42.8 million, or $6.38 per diluted share, compared to $34.2 million, or $4.95 per diluted share in 2024 [3]. Operational Highlights - The fourth quarter of 2025 saw a record-high quarterly net income, improved net interest margin, and solid growth in loans, deposits, and assets [4]. - Loans held for investment increased to $2.25 billion, up $75.6 million, or 3.5% from Q3 2025 [17]. - Total assets reached $3.35 billion, an increase of $136.5 million, or 4.2% from the previous quarter, driven by a $124.6 million increase in deposits [4][22]. Deposits and Loans - Total deposits as of December 31, 2025, were $2.96 billion, up $124.6 million, or 4.4% from September 30, 2025, primarily due to seasonal inflows from public entity customers [22]. - The company experienced robust loan growth, with loans HFI increasing 8.4% for the year 2025 [7]. Stockholder Returns - The company paid a quarterly cash dividend of $0.15 per common share in Q4 2025, with a total cash dividend of $0.54 per share for the year, a 50% increase from $0.36 in 2024 [4][5]. Stock Repurchase Program - The company renewed and increased its stock repurchase program for 2026, authorizing up to $10.0 million for share buybacks [4]. Interest Income and Margin - Net interest income for Q4 2025 was $28.2 million, a 5.0% increase from Q3 2025, with a net interest margin FTE of 3.51%, up 8 basis points [9][6]. - The average rate on new and renewed loans was 6.72% for Q4 2025 [9]. Credit Quality - Nonperforming assets (NPAs) totaled $3.5 million as of December 31, 2025, an increase of 44.9% from the previous quarter, with a ratio of NPAs to assets at 0.11% [20]. - The allowance for credit losses (ACL) was $23.4 million, with a ratio of ACL to loans HFI at 1.04% [21].

Core Viewpoint - Red River Bancshares, Inc. has announced the renewal and increase of its stock repurchase program, allowing the company to buy back up to $10.0 million of its common stock from January 1, 2026, to December 31, 2026, aiming to maximize shareholder value [1] Company Overview - Red River Bancshares, Inc. is the bank holding company for Red River Bank, established in 1999, providing a comprehensive range of banking products and services tailored for commercial and retail customers [2] - The bank operates 28 banking centers across Louisiana and has two combined loan and deposit production offices located in New Orleans and Lafayette [2] - The banking centers serve various markets in Louisiana, including Alexandria, Shreveport-Bossier City, Baton Rouge, Lake Charles, Covington, Lafayette, and New Orleans [2]

Financial Performance - Net income for Q3 2025 was $10.8 million, or $1.63 diluted EPS, a 5.9% increase from $10.2 million, or $1.51 diluted EPS in Q2 2025[109] - For the nine months ended September 30, 2025, net income was $31.3 million, a 25.8% increase from $24.9 million in the same period of 2024[115] - Noninterest income increased by $307,000 to $5.0 million for Q3 2025 compared to $4.7 million for Q2 2025, driven by higher brokerage income and service charges on deposit accounts[136] - Noninterest income decreased by $431,000 to $15.0 million for the nine months ended September 30, 2025, primarily due to lower SBIC income and loan and deposit income[140] - The efficiency ratio improved to 56.06% in Q3 2025, compared to 56.87% in Q2 2025[114] Interest Income and Margin - Net interest income for Q3 2025 was $26.9 million, up $1.1 million, or 4.1%, from $25.8 million in the prior quarter[109] - Net interest income for the nine months ended September 30, 2025, was $77.3 million, a 17.8% increase from $65.6 million in the same period of 2024[123] - The net interest margin FTE increased by 7 basis points to 3.43% in Q3 2025, compared to 3.36% in the previous quarter[119] - The yield on securities increased by 48 basis points due to the purchase of $41.1 million in securities in Q4 2024 and an additional $146.7 million during the nine months ended September 30, 2025[127] - The yield on loans rose by 29 basis points, attributed to higher rates on new and renewed loans compared to the existing portfolio yield[127] Assets and Deposits - Total assets as of September 30, 2025, were $3.21 billion, an increase from $3.17 billion as of June 30, 2025[110] - Total deposits reached $2.84 billion, an increase of $28.2 million, or 1.0%, compared to $2.81 billion as of June 30, 2025[109] - Noninterest-bearing deposits rose by $52.5 million, or 6.1%, to $919 million, representing 32.37% of total deposits as of September 30, 2025[193] - Total loans held for investment (HFI) increased by $98.06 million, or 4.7%, to $2.173 billion as of September 30, 2025, compared to $2.075 billion as of December 31, 2024[176] - Total securities increased by $79.7 million, or 11.6%, to $764.6 million, representing 23.79% of total assets as of September 30, 2025[160] Expenses and Provisions - Operating expenses increased by $2.5 million to $51.8 million for the nine months ended September 30, 2025, mainly due to higher personnel and occupancy expenses[150] - The provision for credit losses for the nine months ended September 30, 2025, was $1.55 million, an increase of $650,000 or 72.2% from $900,000 for the same period in 2024[134] - Income tax expense for the nine months ended September 30, 2025, totaled $7.6 million, an increase of $1.7 million or 28.4% compared to the prior year[159] Stockholder Equity - Total stockholders' equity as of September 30, 2025, was $351.3 million, reflecting a $31.6 million, or 9.9%, increase from $319.7 million as of December 31, 2024[199] - Total tangible common equity (non-GAAP) reached $349,765,000, compared to $333,804,000 in the previous quarter, marking a quarterly increase of 4.78%[245] - Book value per share rose to $53.42, up from $50.23 in June 2025 and $47.51 in September 2024, indicating a year-over-year increase of 12.06%[245] - The ratio of total stockholders' equity to assets improved to 10.93% as of September 30, 2025, compared to 10.59% in June 2025 and 10.46% in September 2024[245] Loans and Credit Quality - Nonperforming assets (NPAs) decreased by $832,000, or 25.4%, to $2.4 million as of September 30, 2025, from $3.3 million as of December 31, 2024[182] - The allowance for credit losses (ACL) increased by $1.1 million to $22.8 million, or 1.05% of loans HFI, as of September 30, 2025[189] - The provision for credit losses on loans for the nine months ended September 30, 2025, was $1.6 million, an increase of $750,000, or 93.8%, from $800,000 for the same period in 2024[190] Operational Developments - The company opened a new loan and deposit production office in Lafayette, Louisiana, in Q3 2025[111] - The stock repurchase program had $4.3 million of available capacity as of September 30, 2025[111] - The company repurchased 11,748 shares of common stock at an aggregate cost of $656,000 for the nine months ended September 30, 2025[203]

Core Insights - Red River Bancshares (RRBI) reported quarterly earnings of $1.63 per share, exceeding the Zacks Consensus Estimate of $1.55 per share, and up from $1.27 per share a year ago, representing an earnings surprise of +5.16% [1] - The company achieved revenues of $31.91 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.93%, compared to $27.88 million in the same quarter last year [2] - Red River Bancshares has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Earnings Performance - The company has shown a strong performance with a year-to-date stock increase of approximately 23%, compared to the S&P 500's gain of 17.2% [3] - The current consensus EPS estimate for the upcoming quarter is $1.60, with expected revenues of $31.06 million, and for the current fiscal year, the EPS estimate is $6.17 on revenues of $121.83 million [7] Market Outlook - The Zacks Industry Rank places the Banks - Southwest sector in the top 14% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The estimate revisions trend for Red River Bancshares was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6]

Financial Performance - Net income for Q3 2025 was $10.8 million, or $1.63 per diluted share, a 5.9% increase from Q2 2025's $10.2 million, or $1.51 EPS [3] - Net income for the third quarter of 2025 was $10.801 million, compared to $10.196 million in the previous quarter, marking an increase of 5.9% [39] - Earnings per share (diluted) rose to $1.63 for the third quarter of 2025, up from $1.51 in the previous quarter, reflecting an increase of 7.9% [39] - The return on average assets improved to 1.34% for the third quarter of 2025, compared to 1.30% in the previous quarter [39] - The efficiency ratio improved to 56.06% in the third quarter of 2025, down from 56.87% in the previous quarter, indicating better cost management [39] Income and Revenue - Net interest income for Q3 2025 was $26.9 million, a $1.1 million, or 4.1%, increase from Q2 2025 [12] - Noninterest income totaled $5.0 million for Q3 2025, a 6.5% increase from the previous quarter [14] - Interest and fees on loans amounted to $30,612,000 for the three months ended September 30, 2025, compared to $29,500,000 in the previous quarter, reflecting a growth of 3.8% [43] - Net interest income for the three months ended September 30, 2025, was $26,886,000, an increase of 4.1% compared to $25,819,000 in the previous quarter [43] - For the nine months ended September 30, 2025, net interest income reached $77,315 thousand, an increase from $65,607 thousand for the same period in 2024, marking a growth of 17.92% [48] Assets and Deposits - Total assets increased to $3,214,363,000 as of September 30, 2025, up from $3,168,092,000 in the previous quarter, representing a growth of 1.5% [41] - Total deposits reached $2.84 billion, an increase of $28.2 million, or 1.0%, compared to $2.81 billion as of June 30, 2025 [25] - Total deposits rose to $2,838,783,000 as of September 30, 2025, compared to $2,810,605,000 in the previous quarter, marking an increase of 1.0% [41] - Loans held for investment increased to $2.17 billion, up $34.5 million, or 1.6%, from $2.14 billion as of June 30, 2025 [19] Equity and Dividends - Stockholders' equity increased by $16.0 million, or 4.8%, from $335.4 million to $351.3 million during the third quarter of 2025 [30] - The cash dividend for Q3 2025 was increased by 25.0% to $0.15 per common share, up from $0.12 in the previous quarters [6] - Total stockholders' equity increased to $351,311,000 as of September 30, 2025, from $335,350,000 in the previous quarter, representing a growth of 4.0% [41] - Book value per share rose to $53.42 as of September 30, 2025, compared to $50.23 in the previous quarter, indicating an increase of 4.35% [51] Credit Quality - The provision for credit losses was $650,000, an increase of $200,000 from the prior quarter's $450,000 [23] - Nonperforming assets totaled $2.4 million, or 0.08% of assets, reflecting an increase of 83.9% from June 30, 2025 [22] Operational Developments - The company opened a new loan and deposit production office in Lafayette, Louisiana, as part of its expansion strategy [11] - Total operating expenses increased to $17,889,000 for the three months ended September 30, 2025, up from $17,367,000 in the previous quarter, a rise of 3.0% [43] Interest Margin - The net interest margin FTE improved to 3.43%, up 7 basis points from the previous quarter [8] - The net interest margin increased to 3.38% for the third quarter of 2025, compared to 3.31% in the previous quarter [39] - The net interest spread improved to 2.47% for the three months ended September 30, 2025, compared to 2.41% in the previous quarter, indicating enhanced efficiency in interest income generation [45]

Core Insights - Red River Bancshares, Inc. reported a net income of $10.8 million for Q3 2025, representing a 5.9% increase from the previous quarter's net income of $10.2 million [2][4] - The company achieved a record-high net income driven by improved net interest margins and solid loan activity despite unexpected paydowns [5][6] - The quarterly cash dividend was increased by 25% to $0.15 per share, reflecting the company's commitment to returning value to shareholders [4][5] Financial Performance - For the nine months ended September 30, 2025, net income was $31.3 million, up from $24.9 million for the same period in 2024, with EPS increasing from $3.59 to $4.65 [3][36] - The return on assets for Q3 2025 was 1.34%, and the return on equity was 12.62% [2][36] - Net interest income for Q3 2025 was $26.9 million, a 4.1% increase from the previous quarter, with a net interest margin FTE of 3.43% [10][36] Loan and Deposit Growth - Loans held for investment increased to $2.17 billion, a rise of 1.6% from the previous quarter, with solid new loan activity [4][17] - Total deposits reached $2.84 billion, up 1.0% from the previous quarter, driven by increased noninterest-bearing and time deposits [23][24] - The company opened a new loan and deposit production office in Lafayette, Louisiana, to enhance its service capabilities [5][9] Asset Quality and Credit Losses - Nonperforming assets totaled $2.4 million, representing 0.08% of total assets, with an allowance for credit losses of $22.8 million, or 1.05% of loans held for investment [20][22] - The provision for credit losses for Q3 2025 was $650,000, an increase from $450,000 in the prior quarter [22][36] Capital Management - Total stockholders' equity increased by 4.8% to $351.3 million as of September 30, 2025, supported by net income and market adjustments [28][29] - The company has a strong capital position with a stockholders' equity to assets ratio of 10.93% and a risk-based capital ratio of 18.18% [36][38] Market Outlook - The economic outlook for Louisiana is optimistic, with expected job growth and improved loan demand as uncertainties related to tariffs and interest rates diminish [7][8] - The Federal Reserve's recent rate cuts are anticipated to influence the company's interest income and margin management strategies moving forward [8][11]

Core Insights - Three stocks are highlighted with strong momentum characteristics and a buy rank for investors to consider on September 22nd [1][2][3] Company Summaries - **Dorman Products, Inc. (DORM)**: - Zacks Rank: 1 - Current year earnings estimate increased by 11.5% over the last 60 days - Share price gained 29.2% over the last three months, outperforming the S&P 500's 10.6% increase - Momentum Score: A [1] - **Red River Bancshares, Inc. (RRBI)**: - Zacks Rank: 1 - Current year earnings estimate increased by 5.5% over the last 60 days - Share price gained 13.2% over the last three months, also outperforming the S&P 500's 10.6% increase - Momentum Score: B [2] - **Newmont Corporation (NEM)**: - Zacks Rank: 1 - Current year earnings estimate increased by 14.8% over the last 60 days - Share price gained 33.3% over the last three months, significantly outperforming the S&P 500's 10.6% increase - Momentum Score: A [3]

[PART I Financial Information](index=5&type=section&id=PART%20I%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) Unaudited consolidated financial statements for Q2 2025 show total assets of $3.17 billion and net income of $10.2 million, detailing financial position and operational results [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets reached $3.17 billion as of June 30, 2025, driven by loan growth, with stable deposits and increased stockholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$3,168,092** | **$3,149,594** | | Total Cash and Cash Equivalents | $210,442 | $268,975 | | Loans held for investment, net | $2,116,358 | $2,053,282 | | Total Securities (AFS & HTM) | $694,286 | $681,944 | | **Total Liabilities** | **$2,832,742** | **$2,829,855** | | Total Deposits | $2,810,605 | $2,805,106 | | **Total Stockholders' Equity** | **$335,350** | **$319,739** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q2 2025 increased 27.7% to $10.2 million, driven by a significant rise in net interest income for the six-month period Income Statement Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $25,819 | $21,787 | $50,429 | $43,150 | | Provision for credit losses | $450 | $300 | $900 | $600 | | Total Noninterest Income | $4,718 | $5,098 | $9,990 | $10,026 | | Total Operating Expenses | $17,367 | $16,689 | $33,955 | $32,562 | | **Net Income** | **$10,196** | **$7,987** | **$20,548** | **$16,175** | | Diluted EPS | $1.51 | $1.16 | $3.03 | $2.31 | [Notes to Unaudited Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Detailed notes disclose accounting policies, financial instruments, and operational specifics, covering securities, loans, deposits, regulatory capital, and stock repurchases - Total securities were **$697.3 million** as of June 30, 2025, with available-for-sale (AFS) securities at a fair value of **$567.0 million** and held-to-maturity (HTM) securities at an amortized cost of **$127.3 million**[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) - Total loans held for investment (HFI) grew to **$2.14 billion** as of June 30, 2025, from **$2.08 billion** at year-end 2024. The Allowance for Credit Losses (ACL) stood at **$22.2 million**, or **1.04%** of loans HFI[54](index=54&type=chunk)[55](index=55&type=chunk) - Total deposits were stable at **$2.81 billion** as of June 30, 2025. Noninterest-bearing deposits comprised **32.0%** of total deposits[71](index=71&type=chunk) Company Capital Ratios (as of June 30, 2025) | Capital Ratio | Actual | Basel III Minimum | | :--- | :--- | :--- | | Total Risk-Based Capital | 18.33% | 10.50% | | Tier I Risk-Based Capital | 17.32% | 8.50% | | Common Equity Tier I Capital | 17.32% | 7.00% | | Tier I Leverage Capital | 12.18% | 4.00% | - In Q2 2025, the company repurchased **111,748 shares** of common stock, including **100,000 shares** in a privately negotiated transaction and **11,748 shares** under its public repurchase program[95](index=95&type=chunk)[96](index=96&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong H1 2025 performance to improved net interest margin and loan growth, maintaining robust financial condition, liquidity, and asset quality - Q2 2025 net income was **$10.2 million** (**$1.51** diluted EPS), a slight decrease from **$10.4 million** in Q1 2025, but a significant increase from Q2 2024[109](index=109&type=chunk)[113](index=113&type=chunk) - Net interest margin (FTE) increased **14 basis points** to **3.36%** in Q2 2025 compared to Q1 2025, driven by higher asset yields and lower deposit costs[109](index=109&type=chunk)[118](index=118&type=chunk) - Asset quality remains strong, with nonperforming assets (NPAs) at only **$1.3 million**, or **0.04%** of total assets, as of June 30, 2025[111](index=111&type=chunk)[179](index=179&type=chunk) - The company executed a privately negotiated repurchase of **100,000 shares** for **$5.1 million** and repurchased an additional **11,748 shares** under its public program in Q2 2025[111](index=111&type=chunk)[201](index=201&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Net income for H1 2025 rose 27.0% to $20.5 million, primarily due to a 16.9% increase in net interest income, despite higher operating expenses - Net interest income for the six months ended June 30, 2025, was **$50.4 million**, a **16.9%** increase from the same period in 2024, driven by higher asset yields and lower interest expense[121](index=121&type=chunk) - The provision for credit losses was **$900,000** for the first six months of 2025, up from **$600,000** in the prior year, reflecting loan growth and uncertainty regarding tariffs and trade[132](index=132&type=chunk)[133](index=133&type=chunk) - For the first half of 2025, noninterest income was stable at **$10.0 million**. A **$434,000** increase in brokerage income was offset by a **$479,000** decrease in SBIC income[136](index=136&type=chunk)[137](index=137&type=chunk)[139](index=139&type=chunk) - Operating expenses rose **4.3%** to **$34.0 million** for the first six months of 2025, primarily due to a **$1.1 million** increase in personnel expenses from higher headcount and commissions[146](index=146&type=chunk)[147](index=147&type=chunk) [Financial Condition](index=39&type=section&id=Financial%20Condition) Financial condition strengthened with assets at $3.17 billion, driven by 3.1% loan growth, stable deposits, improved asset quality, and a 4.9% increase in stockholders' equity - Loans HFI increased by **3.1%** to **$2.14 billion** in the first six months of 2025, led by growth in construction & development and commercial & industrial loans[171](index=171&type=chunk)[173](index=173&type=chunk) - Nonperforming assets (NPAs) decreased by **59.4%** to **$1.3 million** as of June 30, 2025, from **$3.3 million** at year-end 2024. The NPA to assets ratio improved to **0.04%**[179](index=179&type=chunk) - The Allowance for Credit Losses (ACL) increased to **$22.2 million** (**1.04%** of loans HFI) from **$21.7 million** at year-end, reflecting provisions for loan growth[185](index=185&type=chunk) - Deposits remained stable at **$2.81 billion**. Noninterest-bearing deposits grew by **3.6%** and now represent **32.0%** of total deposits, up from **30.9%** at year-end 2024[189](index=189&type=chunk)[191](index=191&type=chunk) [Liquidity and Asset-Liability Management](index=48&type=section&id=Liquidity%20and%20Asset-Liability%20Management) Strong liquidity is maintained with $210.4 million in liquid assets and $1.65 billion in borrowing capacity, positioning the asset-sensitive balance sheet to benefit from rising interest rates - As of June 30, 2025, the company had **$210.4 million** in liquid assets and **$1.65 billion** in available borrowing capacity from sources like the FHLB and Federal Reserve[205](index=205&type=chunk)[211](index=211&type=chunk)[212](index=212&type=chunk) - Total available liquidity of **$1.86 billion** covers estimated uninsured deposits by **210.8%**[194](index=194&type=chunk) - The company's balance sheet is **asset-sensitive**. An instantaneous **+100 bps** rate shock is projected to increase net interest income by **1.4%** over 12 months[229](index=229&type=chunk) - Unfunded loan commitments totaled **$509.4 million** and standby letters of credit were **$15.0 million** as of June 30, 2025[217](index=217&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk disclosures, primarily interest rate volatility, are incorporated by reference from MD&A, with active management ensuring an asset-sensitive balance sheet - The primary market risk for the company is **interest rate volatility**. Disclosures are provided in the MD&A section under "Interest Rate Sensitivity and Market Risk"[243](index=243&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal controls over financial reporting - Management concluded that disclosure controls and procedures were **effective** as of the end of the reporting period[244](index=244&type=chunk) - **No material changes** were made to internal controls over financial reporting during the second quarter of 2025[245](index=245&type=chunk) [PART II Other Information](index=54&type=section&id=PART%20II%20Other%20Information) [Legal Proceedings](index=54&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal matters, none of which are expected to materially adversely affect financial condition or operations - The company reports **no legal proceedings** that are expected to have a **material adverse effect** on its consolidated financial results[247](index=247&type=chunk) [Risk Factors](index=54&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2024 Annual Report on Form 10-K - **No material changes** to the risk factors disclosed in the 2024 Annual Report on Form 10-K have occurred[248](index=248&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q2 2025, the company repurchased 111,748 shares of common stock at an average price of $51.51, with $4.3 million remaining for future repurchases Share Repurchase Activity (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | Value Remaining in Program | | :--- | :--- | :--- | :--- | | April 2025 | 0 | N/A | $5.0M | | May 2025 | 105,871 | $51.26 | $4.67M | | June 2025 | 5,877 | $55.98 | $4.34M | | **Total Q2** | **111,748** | **$51.51** | **$4.34M** | - The May 2025 repurchases included a significant privately negotiated transaction for **100,000 shares**, which was supplemental to the public repurchase program[249](index=249&type=chunk) [Exhibits](index=55&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including corporate governance documents, stock repurchase agreements, and officer certifications