RED RIVER BANCSHARES, INC. | --- | --- | --- | |-------|-----------------------------------------------------|-------| | | | | | | | | | | | | | | Investor Presentation September, 2020 Nasdaq: RRBI | | Made in Louisiana. Made for Louisiana. Forward-Looking Statements and Non-GAAP Information This presentation contains forward-looking statements that are based on various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties, and other factors tha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) (State or Other Juris ...

Financial Performance - Net income for Q1 2020 was $6.7 million, or $0.92 diluted EPS, an increase of 18.4% compared to $5.7 million, or $0.85 diluted EPS, for Q1 2019[121] - Net income for Q1 2020 was $6.7 million, or $0.92 diluted EPS, an increase of 18.4% from $5.7 million, or $0.85 diluted EPS, in Q1 2019[126] - Net interest income for Q1 2020 was $16.1 million, a 4.1% increase from $15.5 million in Q1 2019, primarily due to a $117.6 million increase in average interest-earning assets[131] - The return on average assets for Q1 2020 was 1.36%, compared to 1.24% for Q1 2019[127] - The efficiency ratio improved to 57.40% in Q1 2020 from 59.52% in Q1 2019[127] - Noninterest income rose by $1.4 million, or 43.5%, to $4.7 million, driven by gains on the sale of securities and increased mortgage loan income[140][141] - The provision for loan losses for Q1 2020 was $503,000, down $23,000, or 4.4%, from $526,000 in Q1 2019[185] Asset and Equity Growth - Total assets increased to $2,010,701 thousand as of March 31, 2020, up 1.1% from $1,988,225 thousand as of December 31, 2019[123] - Total stockholders' equity increased to $264,175 thousand as of March 31, 2020, a 4.9% increase from $251,898 thousand as of December 31, 2019[123] - Total stockholders' equity as of March 31, 2020, was $264.2 million, an increase of $12.3 million, or 4.9%, from $251.9 million as of December 31, 2019[189] - Tangible book value per common share rose to $36.08 as of March 31, 2020, up from $34.48 as of December 31, 2019[217] - Tangible common equity to tangible assets ratio improved to 13.07% as of March 31, 2020, from 12.60% as of December 31, 2019[217] Loan and Deposit Activity - Noninterest-bearing deposits increased by $223.2 million, or 36.7%, to $830.5 million as of April 30, 2020, primarily due to government stimulus funds and PPP loan proceeds[116] - Loans held for investment (HFI) increased to $1.45 billion as of March 31, 2020, reflecting a growth of $8.4 million, or 0.6%, from $1.44 billion as of December 31, 2019[168] - Average total loans increased by $61.3 million, or 4.4%, for the three months ended March 31, 2020, compared to the average total loans for the twelve months ended December 31, 2019[194] - Total deposits increased by $6.7 million, or 0.4%, to $1.73 billion as of March 31, 2020, from $1.72 billion as of December 31, 2019[187] - Noninterest-bearing deposits rose by $22.4 million, or 3.8%, to $607.3 million, representing 35.15% of total deposits as of March 31, 2020[187] Impact of COVID-19 - The company anticipates an increased level of problem loans due to economic pressures from the COVID-19 pandemic[111] - Operating expenses for Q2 2020 are expected to increase due to costs associated with managing the COVID-19 pandemic and implementing the PPP[119] - The company has suspended or reduced various fees to assist customers during the crisis, which is expected to adversely affect ongoing noninterest income[118] - Short-term loan modifications were made on $113.4 million of loans HFI to provide temporary relief to borrowers affected by COVID-19[171] - The company processed over 1,000 PPP applications within five days of accepting applications, demonstrating rapid response to the crisis[107] Interest Rate and Risk Management - The net interest margin for Q1 2020 was 3.41%, negatively impacted by two significant Federal Reserve rate decreases in March 2020[121] - The average effective federal funds rate decreased to 1.26% in Q1 2020 from 2.40% in Q1 2019, impacting yields on interest-earning assets[130] - The estimated net interest income at risk for a 100 basis point shift should not decline by more than 10.0% for the subsequent one-year period[205] - The company's exposure to interest rate risk is managed by the Asset-Liability Management Committee, which monitors strategies based on interest rate risk levels[203] Securities and Investments - The company sold $31.2 million of securities in the first quarter of 2020, resulting in significant gains and a strategic reallocation of funds[159] - The total AFS securities fair value was $401.944 million as of March 31, 2020, compared to $335.573 million as of December 31, 2019[166] - As of March 31, 2020, the net unrealized gain of the AFS securities portfolio was $7.3 million, compared to a net unrealized loss of $30,000 as of December 31, 2019[162] - The securities portfolio tax-equivalent yield decreased to 2.21% for the three months ended March 31, 2020, from 2.29% for the same period in 2019[161]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) Louisiana 72-1412058 (State or Other Jurisdic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) Louisiana 72-1412058 (State or Oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) Louisiana 72-1412058 (State or Other Ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: March 31, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) 72-1412058 (I.R.S. Employer Identifica ...