[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

For the quarter ended June 2025, Red River Bancshares (RRBI) reported revenue of $30.54 million, up 13.6% over the same period last year. EPS came in at $1.51, compared to $1.16 in the year-ago quarter. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence t ...

分组1 - Red River Bancshares (RRBI) reported quarterly earnings of $1.51 per share, exceeding the Zacks Consensus Estimate of $1.43 per share, and up from $1.16 per share a year ago, representing an earnings surprise of +5.59% [1] - The company achieved revenues of $30.54 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.99%, and an increase from $26.89 million year-over-year [2] - Over the last four quarters, Red River Bancshares has consistently surpassed consensus EPS and revenue estimates [2] 分组2 - The stock has gained approximately 11.8% since the beginning of the year, outperforming the S&P 500's gain of 8.3% [3] - The current consensus EPS estimate for the upcoming quarter is $1.46 on revenues of $30.41 million, and for the current fiscal year, it is $5.86 on revenues of $120.78 million [7] - The Zacks Industry Rank for Banks - Southwest is in the top 12% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

[Financial Performance](index=1&type=section&id=Financial%20Performance) The company reported strong year-over-year net income growth for Q2 and the first half of 2025, driven by an expanding net interest margin [Second Quarter 2025 Financial Results](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results) Red River Bancshares reported Q2 2025 net income of $10.2 million, a 27.7% increase year-over-year, with strong returns on assets and equity Q2 2025 Key Financial Metrics | Metric | Q2 2025 | Q1 2025 | Q2 2024 | Change (QoQ) | Change (YoY) | | :--- | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $10.2 million | $10.4 million | $8.0 million | -1.5% | +27.7% | | **Diluted EPS** | $1.51 | $1.52 | $1.16 | -0.7% | +30.2% | | **Return on Assets** | 1.30% | 1.32% | 1.05% | -2 bps | +25 bps | | **Return on Equity** | 12.27% | 12.85% | 10.69% | -58 bps | +158 bps | [Year-to-Date 2025 Financial Results](index=1&type=section&id=Year-to-Date%202025%20Financial%20Results) Net income for the first six months of 2025 increased 27.0% to $20.5 million compared to the prior year, boosting diluted EPS by 31.2% Six Months Ended June 30 Key Financial Metrics | Metric | 2025 | 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | **Net Income** | $20.5 million | $16.2 million | +27.0% | | **Diluted EPS** | $3.03 | $2.31 | +31.2% | | **Return on Assets** | 1.31% | 1.06% | +25 bps | | **Return on Equity** | 12.55% | 10.73% | +182 bps | [Q2 2025 Operational Highlights](index=1&type=section&id=Q2%202025%20Operational%20Highlights) The quarter featured an improved net interest margin, steady loan growth, and significant capital management activities including stock buybacks - Net interest margin FTE increased for the seventh consecutive quarter to **3.36%**, driven by higher asset yields and lower deposit costs[5](index=5&type=chunk)[7](index=7&type=chunk) - The company executed significant stock buybacks, including repurchasing **11,748 shares** under its public program and an additional **100,000 shares** through a private agreement[5](index=5&type=chunk) - A cash dividend of $0.12 per share was paid in Q2 2025, and the board announced a **25% increase to $0.15 per share** for Q3 2025[5](index=5&type=chunk) - Loans held for investment (HFI) grew by **$23.8 million**, or 1.1%, during the quarter to $2.14 billion[5](index=5&type=chunk) [Management's Discussion and Analysis](index=2&type=section&id=Management's%20Discussion%20and%20Analysis) Management discusses the drivers of financial performance, including net interest margin expansion, credit loss provisions, and operational expenses [CEO's Statement](index=2&type=section&id=CEO's%20Statement) The CEO highlighted solid Q2 performance driven by net interest margin expansion and affirmed the company's focus on strategic growth - The CEO emphasized that the net interest margin FTE has now increased for **seven consecutive quarters**, reaching 3.36% in Q2 2025[7](index=7&type=chunk) - Loan growth was steady but slower than Q1, with some reduced demand attributed to uncertainty around trade, tariffs, and macroeconomic factors[8](index=8&type=chunk) - Future strategy involves expanding the Red River Bank network, evaluating new opportunities, and adding experienced bankers to grow market share[9](index=9&type=chunk)[10](index=10&type=chunk) [Net Interest Income and Net Interest Margin](index=2&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin) Net interest income and margin both improved sequentially, driven by higher asset yields and lower deposit costs, with a positive outlook for H2 2025 Net Interest Income & Margin Performance (Q2 2025 vs Q1 2025) | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | **Net Interest Income** | $25.8 million | $24.6 million | +$1.2 million (+4.9%) | | **Net Interest Margin FTE** | 3.36% | 3.22% | +14 bps | | **Cost of Deposits** | 1.56% | 1.61% | -5 bps | - The improvements were attributed to higher yields on securities (+12 bps) and loans (+9 bps), and lower costs on deposits (-5 bps)[12](index=12&type=chunk) - Looking ahead to H2 2025, the company expects to redeploy maturing securities and loans into higher-yielding assets and maintain a fairly consistent cost of deposits[13](index=13&type=chunk) [Provision for Credit Losses](index=2&type=section&id=Provision%20for%20Credit%20Losses) The provision for credit losses remained consistent with the prior quarter, reflecting loan growth and ongoing macroeconomic uncertainty - The provision for credit losses was **$450,000**, unchanged from Q1 2025[14](index=14&type=chunk) [Noninterest Income](index=3&type=section&id=Noninterest%20Income) Noninterest income decreased from the prior quarter, primarily due to lower brokerage and SBIC income reflecting reduced client activity Noninterest Income Breakdown (Q2 2025 vs Q1 2025) | Income Source | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | **Total Noninterest Income** | $4.7 million | $5.3 million | -$554,000 (-10.5%) | | Brokerage Income | $989,000 | $1.3 million | -$336,000 (-25.4%) | | SBIC Income | $47,000 | $280,000 | -$233,000 (-83.2%) | [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Operating expenses increased, largely because the prior quarter benefited from significant one-time vendor refunds and rebates - Total operating expenses rose by **$779,000** compared to Q1 2025[18](index=18&type=chunk) - Data processing expense increased by $433,000, as Q1 2025 included a **$447,000 periodic refund**[19](index=19&type=chunk) - Loan and deposit expenses increased by $336,000, as Q1 2025 included a **$173,000 vendor rebate**[20](index=20&type=chunk) - Personnel expenses increased by **$193,000 (1.9%)** due to annual raises effective in April 2025[21](index=21&type=chunk) [Financial Condition](index=3&type=section&id=Financial%20Condition) The company's balance sheet shows stable total assets, loan growth, and significantly improved asset quality as of June 30, 2025 [Asset Overview](index=3&type=section&id=Asset%20Overview) Total assets were $3.17 billion, with strong liquidity and a 1.1% quarterly increase in loans held for investment Key Balance Sheet Items (June 30, 2025) | Metric | Amount | Change (QoQ) | | :--- | :--- | :--- | | **Total Assets** | $3.17 billion | -$18.3 million (-0.6%) | | **Loans HFI** | $2.14 billion | +$23.8 million (+1.1%) | | **Total Securities** | $697.3 million | -$2.3 million (-0.3%) | | **Total Deposits** | $2.81 billion | -$15.1 million (-0.5%) | - The liquid assets to assets ratio was **6.64%** as of June 30, 2025[22](index=22&type=chunk) - The loans HFI to deposits ratio increased to **76.09%** from 74.84% at the end of the prior quarter[22](index=22&type=chunk) [Securities Portfolio](index=3&type=section&id=Securities%20Portfolio) The securities portfolio remained stable at $697.3 million, with unrealized losses on available-for-sale and held-to-maturity holdings - The company reinvested cash flows from maturing securities into higher-yielding securities during the quarter[23](index=23&type=chunk) Securities Unrealized Losses (June 30, 2025) | Portfolio | Fair/Amortized Value | Unrealized Loss | | :--- | :--- | :--- | | **Available-for-Sale (AFS)** | $567.0 million | $61.1 million | | **Held-to-Maturity (HTM)** | $127.3 million | $22.4 million | [Loan Portfolio](index=4&type=section&id=Loan%20Portfolio) Loans held for investment grew 1.1% to $2.14 billion, led by growth in construction and development loans Loans HFI by Category (June 30, 2025) | Loan Category | Amount | % of Total | Change (QoQ) | | :--- | :--- | :--- | :--- | | Commercial real estate | $883.6 M | 41.3% | -1.0% | | One-to-four family residential | $623.5 M | 29.2% | +0.9% | | Construction and development | $194.2 M | 9.1% | +10.6% | | Commercial and industrial | $348.9 M | 16.3% | +2.9% | | **Total loans HFI** | **$2,138.6 M** | **100.0%** | **+1.1%** | - The largest industry concentration is in health care loans, which represent **8.0% of total loans HFI**[30](index=30&type=chunk) [Asset Quality](index=4&type=section&id=Asset%20Quality) Asset quality improved significantly, with nonperforming assets decreasing by 74.4% to just 0.04% of total assets Asset Quality Metrics | Metric | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | **Nonperforming Assets (NPAs)** | $1.3 million | $5.2 million (implied) | | **NPAs to Assets Ratio** | 0.04% | 0.16% | | **ACL to Loans HFI Ratio** | 1.04% | 1.03% | | **Net Charge-offs to Avg. Loans** | 0.00% | 0.02% | - The sharp decrease in NPAs was primarily due to a past due loan being brought current by the customer[31](index=31&type=chunk) [Deposits](index=5&type=section&id=Deposits) Total deposits decreased slightly due to seasonal outflows, with noninterest-bearing deposits comprising 32.0% of the total - Total deposits decreased by **$15.1 million** during Q2 2025, with consumer deposits falling by $27.1 million while commercial deposits grew by $23.5 million[33](index=33&type=chunk)[36](index=36&type=chunk) - Noninterest-bearing demand deposits were **$898.0 million**, making up 32.0% of total deposits[34](index=34&type=chunk) - Estimated uninsured deposits were $881.7 million, or 31.4% of total deposits; the bank's liquidity sources covered **210.8%** of these uninsured deposits[38](index=38&type=chunk) [Stockholders' Equity](index=5&type=section&id=Stockholders'%20Equity) Stockholders' equity increased as net income more than offset the impact of common stock repurchases and cash dividends - The **$2.0 million increase** in stockholders' equity was driven by $10.2 million in net income[39](index=39&type=chunk) - Equity was reduced by the repurchase of **111,748 shares for $5.8 million** and the payment of $801,000 in cash dividends[39](index=39&type=chunk) [Supplementary Information](index=6&type=section&id=Supplementary%20Information) This section provides background on the company, its non-GAAP disclosures, and forward-looking statement disclaimers [About Red River Bancshares, Inc.](index=6&type=section&id=About%20Red%20River%20Bancshares%2C%20Inc.) Red River Bancshares is the holding company for Red River Bank, a Louisiana state-chartered bank serving customers across the state - The company operates **28 banking centers** throughout Louisiana, serving markets including Alexandria, Shreveport-Bossier City, Baton Rouge, and New Orleans[43](index=43&type=chunk) [Non-GAAP Disclosure and Forward-Looking Statements](index=6&type=section&id=Non-GAAP%20Disclosure%20and%20Forward-Looking%20Statements) The report includes non-GAAP measures to evaluate performance and contains forward-looking statements subject to risks and uncertainties - The company uses certain non-GAAP measures, and reconciliations to the most comparable GAAP measures are provided in the financial tables[40](index=40&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) - The report contains forward-looking statements subject to risks and uncertainties, and readers are cautioned not to place undue reliance on them[44](index=44&type=chunk) [Financial Tables](index=7&type=section&id=Financial%20Tables) This section contains detailed unaudited financial statements and supplementary data for the periods ended June 30, 2025 [Unaudited Financial Statements](index=7&type=section&id=Unaudited%20Financial%20Statements) This section provides detailed financial statements, including balance sheets, income statements, and non-GAAP reconciliations - Financial Highlights table provides a summary of key performance, per share, credit quality, and capital ratios[46](index=46&type=chunk)[47](index=47&type=chunk) - Consolidated Balance Sheets present the company's financial position as of June 30, 2025, and comparative prior periods[48](index=48&type=chunk)[49](index=49&type=chunk) - Consolidated Statements of Income detail the company's revenues and expenses for the three and six months ended June 30, 2025 and 2024[50](index=50&type=chunk)[51](index=51&type=chunk) - Reconciliation of Non-GAAP Financial Measures provides a bridge from GAAP metrics to non-GAAP metrics like tangible book value per share[58](index=58&type=chunk)[59](index=59&type=chunk)

ALEXANDRIA, La., July 30, 2025 (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 second quarter of 2025. Net income for the second quarter of 2025 was $10.2 million, or $1.51 per diluted common share ("EPS"), a decrease of $156,000, or 1.5%, compared to $10.4 million, or $1.52 EPS, for the first quarter of 2025, and an increase of $2.2 million, or 27.7%, compared to $8.0 ...

Core Points - Red River Bancshares, Inc. declared a quarterly cash dividend of $0.15 per share, an increase of $0.03 or 25% from the previous quarter's dividend of $0.12 per share [1] - The cash dividend is scheduled to be paid on September 18, 2025, to shareholders of record as of September 8, 2025 [1] - The increase in dividend reflects the company's commitment to returning capital to shareholders while maintaining strong capital ratios [1] Company Overview - Red River Bancshares, Inc. is the bank holding company for Red River Bank, established in 1999, providing a comprehensive suite of banking products and services for commercial and retail customers [2] - The bank operates 28 banking centers across Louisiana and has a combined loan and deposit production office in New Orleans [2] - Banking centers are located in various Louisiana markets, including Alexandria, Shreveport-Bossier City, Baton Rouge, Lake Charles, Covington, Lafayette, and New Orleans [2]

Core Viewpoint - Red River Bancshares (RRBI) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [4][6]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Company Performance and Outlook - The upgrade for Red River Bancshares indicates an improvement in the company's underlying business, which is expected to drive the stock price higher as investors respond positively to this trend [5][10]. - The Zacks Consensus Estimate for Red River Bancshares has increased by 9.6% over the past three months, with expected earnings of $5.86 per share for the fiscal year ending December 2025, showing no year-over-year change [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a "Strong Buy" rating, indicating superior earnings estimate revisions and potential for market-beating returns [9][10].

Core Viewpoint - Red River Bancshares (RRBI) has shown strong stock performance, with a 12.2% increase over the past month and a 16.7% gain since the beginning of the year, outperforming both the Zacks Finance sector and the Zacks Banks - Southwest industry [1][2]. Performance Metrics - The stock reached a new 52-week high of $63 recently [1]. - Red River Bancshares has consistently beaten earnings estimates, reporting an EPS of $1.52 against a consensus estimate of $1.29 in its last earnings report [2]. Earnings Projections - For the current fiscal year, earnings are expected to be $5.86 per share on revenues of $120.78 million, reflecting an 18.38% increase in EPS and a 10.06% increase in revenues [3]. - For the next fiscal year, projected earnings are $6.02 per share on revenues of $125.45 million, indicating a year-over-year change of 2.79% in EPS and 3.87% in revenues [3]. Valuation Metrics - The stock trades at 10.8 times current fiscal year EPS estimates, below the peer industry average of 12.8 times [7]. - On a trailing cash flow basis, it trades at 11.4 times, compared to the peer group's average of 11.6 times [7]. Style Scores - Red River Bancshares has a Value Score of B, with Growth and Momentum Scores both at C, resulting in a combined VGM Score of B [6]. - The Zacks Rank for the stock is 2 (Buy), supported by rising earnings estimates, indicating potential for further growth [8].

Group 1 - The company announced a stock repurchase agreement for 100,000 shares at a purchase price of $5.1 million, reflecting a discount to the 10-, 20-, and 30-day volume weighted average price as of May 20, 2025 [1] - The repurchase is part of a previously announced $5.0 million repurchase program, which remains unaffected by this transaction, with approximately $4.7 million of remaining capacity under the program as of May 22, 2025 [1] - The company's President and CEO stated that the repurchase demonstrates a commitment to increasing shareholder value [1] Group 2 - Red River Bancshares, Inc. is the bank holding company for Red River Bank, which was established in 1999 and offers a comprehensive suite of banking products and services [2] - The bank operates 28 banking centers across Louisiana and has a combined loan and deposit production office in New Orleans [2] - The banking centers serve various markets in Louisiana, including Alexandria, Shreveport-Bossier City, Baton Rouge, Lake Charles, Covington, Lafayette, and New Orleans [2]

[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(Unaudited)) This section presents Red River Bancshares' unaudited consolidated financial statements for Q1 2025, detailing balance sheets, income, comprehensive income, equity, and cash flow with notes [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $3.186 billion as of March 31, 2025, from $3.150 billion at year-end 2024, driven by growth in loans held for investment Consolidated Balance Sheet Highlights (Unaudited) | (in thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$3,186,432** | **$3,149,594** | | Total Cash and Cash Equivalents | $252,155 | $268,975 | | Loans held for investment, net | $2,092,907 | $2,053,282 | | Total Deposits | $2,825,676 | $2,805,106 | | **Total Liabilities** | **$2,853,116** | **$2,829,855** | | **Total Stockholders' Equity** | **$333,316** | **$319,739** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) For Q1 2025, net income rose to $10.35 million from $8.19 million in Q1 2024, driven by a 15.2% increase in net interest income, with diluted EPS growing to $1.52 Q1 2025 vs Q1 2024 Income Statement Highlights (Unaudited) | (in thousands, except per share data) | For the Three Months Ended March 31, 2025 | For the Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net Interest Income | $24,610 | $21,363 | | Provision for credit losses | $450 | $300 | | Total Noninterest Income | $5,272 | $4,928 | | Total Operating Expenses | $16,588 | $15,873 | | **Net Income** | **$10,352** | **$8,188** | | **Diluted EPS** | **$1.52** | **$1.16** | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for Q1 2025 was $14.24 million, up from $5.98 million in Q1 2024, primarily due to net income growth and positive unrealized gains on securities Comprehensive Income (Unaudited) | (in thousands) | For the Three Months Ended March 31, 2025 | For the Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net income | $10,352 | $8,188 | | Total other comprehensive income (loss) | $3,889 | $(2,206) | | **Comprehensive Income (Loss)** | **$14,241** | **$5,982** | [Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to $333.3 million by March 31, 2025, driven by net income and other comprehensive income, partially offset by cash dividends - Key drivers for the change in stockholders' equity in Q1 2025 include net income of **$10.35 million** and other comprehensive income of **$3.89 million**, offset by cash dividends of **$813,000**[23](index=23&type=chunk) - The cash dividend per share increased to **$0.12** in Q1 2025 from **$0.09** in Q1 2024[23](index=23&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was $13.9 million in Q1 2025, while investing activities used $50.5 million, resulting in a $16.8 million net decrease in cash Cash Flow Summary (Unaudited) | (in thousands) | For the Three Months Ended March 31, 2025 | | :--- | :--- | | Net cash provided by (used in) operating activities | $13,914 | | Net cash provided by (used in) investing activities | $(50,491) | | Net cash provided by (used in) financing activities | $19,757 | | **Net change in cash and cash equivalents** | **$(16,820)** | | Cash and cash equivalents - end of period | $252,155 | [Notes to Unaudited Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) These notes detail significant accounting policies, including new standard adoption, and provide breakdowns of securities, loans, deposits, fair value, capital, and EPS, confirming banking as a single segment - The company adopted ASU No. 2024-01 regarding stock compensation on January 1, 2025, which did not have a material impact on the financial statements[31](index=31&type=chunk) - Total securities were **$699.5 million** as of March 31, 2025, with no allowance for credit losses (ACL) recorded for either AFS or HTM securities due to a zero credit loss assumption[36](index=36&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) - The company's banking operations are considered a single reportable operating segment, as the Chief Operating Decision Maker (CODM) assesses performance on a company-wide basis[92](index=92&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial condition and results, highlighting net income, net interest margin, loan and deposit growth, asset quality, and liquidity, with net income up 11.2% from Q4 2024 [First Quarter 2025 Financial and Operational Highlights](index=27&type=section&id=FIRST%20QUARTER%202025%20FINANCIAL%20AND%20OPERATIONAL%20HIGHLIGHTS) Q1 2025 saw strong financial performance with net income of $10.4 million and diluted EPS of $1.52, improved net interest margin, loan and deposit growth, and a 33.3% dividend increase Q1 2025 Key Performance Metrics | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net Income | $10.4 million | $9.3 million | | Diluted EPS | $1.52 | $1.37 | | Return on Assets | 1.32% | 1.18% | | Return on Equity | 12.85% | 11.46% | | Net Interest Margin FTE | 3.22% | 3.09% | - The quarterly cash dividend was increased by **33.3%** to **$0.12** per common share[101](index=101&type=chunk) - Completed significant upgrades to online, mobile banking, and bill payment systems to improve digital services[101](index=101&type=chunk) [Results of Operations](index=30&type=section&id=RESULTS%20OF%20OPERATIONS) Net income for Q1 2025 was $10.4 million, a 26.4% increase year-over-year and 11.2% quarter-over-quarter, driven by higher net interest income and improved efficiency Net Income and EPS Comparison | (dollars in thousands, except per share data) | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Income | $10,352 | $9,306 | $8,188 | | Diluted EPS | $1.52 | $1.37 | $1.16 | [Financial Condition](index=37&type=section&id=FINANCIAL%20CONDITION) As of March 31, 2025, total assets grew to $3.19 billion, supported by increases in deposits and loans held for investment, maintaining a strong capital position Balance Sheet Changes (Q1 2025 vs YE 2024) | (in millions) | March 31, 2025 | Dec 31, 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Assets | $3,186.4 | $3,149.6 | 1.2% | | Loans HFI | $2,114.7 | $2,075.0 | 1.9% | | Total Deposits | $2,825.7 | $2,805.1 | 0.7% | | Stockholders' Equity | $333.3 | $319.7 | 4.2% | [Liquidity and Asset-Liability Management](index=46&type=section&id=LIQUIDITY%20AND%20ASSET-LIABILITY%20MANAGEMENT) The company maintained strong liquidity with $1.66 billion accessible from various sources, managing interest rate risk with an asset-sensitive balance sheet within policy limits - As of March 31, 2025, the company had access to **$1.66 billion** from various liquidity sources, including the FHLB and Federal Reserve Discount Window[192](index=192&type=chunk) - The company's balance sheet is asset-sensitive, meaning assets reprice faster than liabilities, with a **+100 bps** rate shock simulated to increase net interest income by **1.8%** over 12 months[216](index=216&type=chunk) - Unfunded loan commitments totaled **$503.1 million** and standby letters of credit totaled **$14.6 million** as of March 31, 2025[204](index=204&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section incorporates by reference the detailed discussion on market risk, particularly interest rate sensitivity, from the MD&A, with interest rate volatility as the primary risk - Disclosures about market risk are presented in the MD&A section under "Interest Rate Sensitivity and Market Risk" and are incorporated here by reference[231](index=231&type=chunk) [Item 4. Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during Q1 2025 - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[232](index=232&type=chunk) - No changes in internal control over financial reporting occurred during Q1 2025 that have materially affected, or are reasonably likely to materially affect, internal controls[233](index=233&type=chunk) [PART II - Other Information](index=52&type=section&id=PART%20II%20Other%20Information) [Item 1. Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal matters in the ordinary course of business, with no expected material adverse effect on financial condition or results - The company states that it is not involved in any legal proceedings expected to have a material adverse effect on its financial condition or operations[235](index=235&type=chunk) [Item 1A. Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes have been made to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024[236](index=236&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company has a $5.0 million stock repurchase program for 2025, with no shares repurchased during Q1 2025, leaving the full amount available - The company did not repurchase any shares of its common stock during the first quarter of 2025[237](index=237&type=chunk) - As of March 31, 2025, **$5.0 million** remained available for repurchase under the 2025 stock repurchase program[237](index=237&type=chunk) [Item 3. Defaults Upon Senior Securities](index=52&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) None - None[238](index=238&type=chunk) [Item 4. Mine Safety Disclosures](index=52&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable - Not applicable[239](index=239&type=chunk) [Item 5. Other Information](index=52&type=section&id=Item%205.%20Other%20Information) None - None[240](index=240&type=chunk) [Item 6. Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial data in Inline XBRL format - Exhibits filed include CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act[241](index=241&type=chunk) - Financial statements and notes are provided in Inline XBRL format[241](index=241&type=chunk)