Open the filing on EDGARRed River Bancshares, Inc. Reports Third Quarter 2026 Financial Results
ALEXANDRIA, Louisiana, October 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 third quarter of 2026.
Net income for the third quarter of 2026 was $12.6 million, or $1.90 per diluted common share (“EPS”), an increase of $800,000 or 6.8%, compared to $11.8 million, or $1.78 EPS, for the second quarter of 2026, and an increase of $1.8 million, or 16.3%, compared to $10.8 million, or $1.63 EPS, for the third quarter of 2025. For the third quarter of 2026, the quarterly return on assets was 1.48%, and the quarterly return on equity was 12.84%.
Net income for the nine months ended September 30, 2026, was $36.3 million, or $5.49 EPS, an increase of $4.9 million, or 15.8%, compared to $31.3 million, or $4.65 EPS, for the nine months ended September 30, 2025. For the nine months ended September 30, 2026, the return on assets was 1.45%, and the return on equity was 12.73%.
Third Quarter 2026 Performance and Operational Highlights
The third quarter of 2026 financial results included record-high quarterly net income and EPS along with increased loans, deposits, and assets. We also completed our New Orleans market banking center relocation project and continued to execute our plan to expand organically.
- Net income for the third quarter of 2026 was $12.6 million, up $800,000, or 6.8%, from the prior quarter. Net income for the third quarter benefited from a $916,000 increase in net interest income.
- Net interest income increased $916,000, or 3.2%, mainly as a result of higher earning asset balances and one more accrual day in the quarter. Net interest margin fully taxable equivalent (“FTE”) was consistent at 3.61% for the third quarter of 2026 and for the prior quarter.
- As of September 30, 2026, assets were $3.37 billion, up $56.2 million, or 1.7%, from $3.31 billion as of June 30, 2026, as a result of a $56.5 million increase in deposits.
- Deposits totaled $2.96 billion as of September 30, 2026, up $56.5 million, or 1.9%, from $2.91 billion as of June 30, 2026. This increase was primarily due to higher commercial deposit account balances.
- As of September 30, 2026, loans held for investment (“HFI”) were $2.32 billion, up $59.5 million, or 2.6%, from $2.26 billion as of June 30, 2026. In the third quarter of 2026, new loan originations and construction commitment fundings exceeded payments and payoffs.
- In the third quarter of 2026, nonperforming assets (“NPA(s)”) increased $3.0 million, or 113.4%, to $5.6 million, or 0.17% of assets, as of September 30, 2026, primarily due to a commercial relationship that we are actively working to resolve. The provision for loan losses was lower in the third quarter of 2026 compared to the previous quarter.
- We paid a quarterly cash dividend of $0.25 per common share in the third quarter of 2026.
- The 2026 stock repurchase program authorizes us to purchase up to $10.0 million of our outstanding shares of common stock from January 1, 2026 through December 31, 2026. There was no stock repurchase activity between January 1, 2026 and September 30, 2026. As of September 30, 2026, the 2026 stock repurchase program had $10.0 million of available capacity.
- We continued to implement our organic expansion plan with the following projects:
- In the New Orleans market, we completed our banking center relocation project. We remodeled a portion of the ground floor of the Energy Centre Building on Poydras Street. On July 20, 2026, we relocated the Baronne Street retail banking center and the New Orleans market leadership and lenders to this updated, convenient, and visible location.
- In the Acadiana market, construction is in process on our second full-service banking center in this market, located on Camellia Boulevard in Lafayette, Louisiana. We expect this location to open in the first quarter of 2027.
- On October 22, 2026, we purchased a former credit union building located on Gause Boulevard E. in Slidell, Louisiana. We expect to open this location in the first quarter of 2027 as the Bank’s first full-service banking center location in Slidell and our second in the Northshore market.
- In the third quarter of 2026, S&P Global Market Intelligence ranked the Bank within the top 50 best deposit franchises as of June 30, 2026, for banks with assets between $3.0 and $10.0 billion.
Blake Chatelain, President and Chief Executive Officer, stated, “The third quarter of 2026 was very productive, and we are certainly pleased with our financial results. We experienced record-high quarterly net income and EPS, along with solid balance sheet activity and growth.
“In the third quarter of 2026, we saw an increase in loan demand throughout all of our markets, which positively impacted the loan portfolio, as well as the current loan pipeline. The deposit portfolio benefited from higher commercial deposit account balances, combined with the addition of new customers and accounts.
“When 2026 began, we expected a slowly decreasing interest rate environment; however, that shifted to a ‘higher for longer’ rate environment during the summer. Depending on the pace and magnitude of rate changes and the corresponding shift to the yield curve, this environment should benefit the Company. The balance sheet is positioned for a steady, higher rate environment as we price assets at higher rates, while managing the cost of deposits.
“Our organic expansion plan has been very productive in 2026, as we believe it’s a great time to continue investing for future growth. In May 2026, we completed the Northwest market relocation project, and in July 2026, we completed the New Orleans downtown move into the Energy Centre Building. Construction on our new banking center in the Acadiana market is progressing well. We also recently acquired an existing banking center building in Slidell, Louisiana, which we expect to become our second full-service banking center in the Northshore market. We look forward to opening both of these locations in the first quarter of 2027. On the talent front, we have recruited several new bankers across our markets as we continue to expand our Red River Bank team.
“I also want to mention the positive Louisiana economic activity news. There are many significant capital projects that have been announced in the past few years throughout Louisiana. We can identify over $250.0 billion of capital investments in a variety of industries that are in process of being built or in the planning stages. We are excited about the potential financial impact to Louisiana residents, communities, and the state from these investments.
“As we wrap up 2026, we are well-positioned for the future, with solid earnings and robust capital, combined with an expanded banking center network and dedicated bankers. We remain committed to serving our customers, growing, and providing steady financial results for our shareholders.”
Net Interest Income and Net Interest Margin FTE
Net interest income for the third quarter of 2026 was $29.9 million, which was $916,000, or 3.2%, higher than the second quarter of 2026 and benefited from one more accrual day. Net interest income increased due to higher average balances and yields on earning assets, partially offset by a higher cost of deposits and average deposit balances. Interest income on loans increased $1.0 million due to higher average loan balances and yields. For the third quarter of 2026, the average rate on new and renewed loans was 6.47%. Interest income on short-term liquid assets increased $567,000, primarily due to higher average balances. Interest expense increased by $558,000 due to adjusting selected deposit rates in response to rate competition, as well as higher interest-bearing transaction deposit balances.
Net interest margin FTE was 3.61% for the third quarter of 2026, which was consistent with the prior quarter. Net interest margin FTE improved slightly at the end of the third quarter as a result of the higher interest rate environment.
The federal funds rate range was 3.50%-3.75% between December 2025 and September 2026. In September 2026, the Federal Open Market Committee increased the federal funds rate by 25 basis points (“bp(s)”), resulting in a range of 3.75%-4.00%. The market’s expectation is that the federal funds range may increase by another 25 bps in the fourth quarter of 2026. During the fourth quarter of 2026, we project $93.8 million of fixed rate loans at 5.85% to mature, which we expect to redeploy into loans with higher rates. We have $529.5 million of floating rate loans at 6.24%, which we expect to reprice slightly higher. We also expect to receive $24.0 million in securities cash flows at 3.64%, for which we are evaluating reinvestment options as we consider balance sheet management strategies and the forecasted interest rate environment. We project $190.7 million in time deposits at 3.37% to mature, which we expect to renew at higher rates. Selected transaction deposit rates could also be further adjusted in response to rate competition. Depending on balance sheet activity, the interest rate environment, and competition, we expect net interest income and net interest margin FTE to increase slightly in the fourth quarter of 2026.
Noninterest Income
Noninterest income totaled $4.9 million for the third quarter of 2026, up $186,000, or 3.9%, from the previous quarter.
The Small Business Investment Company (“SBIC”) partnerships reported a gain of $112,000 in the third quarter of 2026, compared to a loss of $291,000 in the previous quarter. These results were mainly due to fund value adjustments as an SBIC fund continues its wind-down phase. We expect SBIC income or loss to fluctuate in future quarters.
Mortgage loan income was $698,000 for the third quarter of 2026, down $230,000, or 24.8%, from the previous quarter, due to rising mortgage interest rates reducing mortgage activity.
Debit card income, net, was $1.1 million for the third quarter of 2026, consistent with the previous quarter. The third quarter of 2026 benefited from the receipt of a $50,000 periodic refund from our debit card provider, compared to a $63,000 similar refund in the previous quarter.
Operating Expenses
Operating expenses totaled $18.7 million for the third quarter of 2026, up $408,000, or 2.2%, from the previous quarter.
Personnel expenses totaled $10.9 million for the third quarter of 2026, up $206,000, or 1.9%, from the previous quarter. This increase was primarily due to an increase in headcount and higher personnel-related accruals. As of September 30, 2026 and June 30, 2026, we had 390 and 381 total employees, respectively.
Loan and deposit expenses totaled $426,000 for the third quarter of 2026, up $184,000, or 76.0%, from the previous quarter. The second quarter of 2026 benefited from reimbursement of $82,000 of collection expenses due to the successful resolution of nonaccrual loans.
Occupancy and equipment expenses totaled $1.9 million for the third quarter of 2026, consistent with the previous quarter. The third quarter of 2026 included $46,000 of nonrecurring expenses related to the relocation of banking centers and offices in the Northwest and New Orleans markets.
Legal and professional expenses totaled $487,000 for the third quarter of 2026, down $117,000, or 19.4% from the previous quarter. This decrease was due to lower audit and consulting expenses.
Loans
Loans HFI were $2.32 billion as of September 30, 2026 and $2.26 billion as of June 30, 2026. In the third quarter of 2026, new loan originations and construction commitment fundings exceeded payments and payoffs. As of September 30, 2026, we had $93.8 million of unfunded construction loan commitments, which we expect to fund over time.
| September 30, 2026 | June 30, 2026 | Change from June 30, 2026 to September 30, 2026 |
|---|
| Loans HFI by Category |
| (dollars in thousands) | Amount | Percent | Amount | Percent | $ Change | % Change |
| Real estate: | | | | | | |
| Commercial real estate | $953,660 | 41.0% | $914,002 | 40.4% | $39,658 | 4.3% |
| One-to-four family residential | 647,035 | 27.9% | 637,566 | 28.2% | 9,469 | 1.5% |
| Construction and development | 223,825 | 9.6% | 234,190 | 10.3% | (10,365) | (4.4%) |
| Commercial and industrial | 424,080 | 18.3% | 399,933 | 17.7% | 24,147 | 6.0% |
| Tax-exempt | 48,640 | 2.1% | 51,539 | 2.3% | (2,899) | (5.6%) |
| Consumer | 26,240 | 1.1% | 26,750 | 1.1% | (510) | (1.9%) |
| Total loans HFI | $2,323,480 | 100.0% | $2,263,980 | 100.0% | $59,500 | 2.6% |
Asset Quality and Allowance for Credit Losses
NPAs totaled $5.6 million as of September 30, 2026, an increase of $3.0 million, or 113.4%, from June 30, 2026, primarily due to a commercial relationship that we are actively working to resolve. The ratio of NPAs to assets was 0.17% and 0.08% as of September 30, 2026 and June 30, 2026, respectively.
The provision for credit losses for the third quarter of 2026 was $500,000, which was lower than the provision for credit losses of $750,000 for the prior quarter. The decrease was driven by stable charge-off trends and steady local economic conditions affecting the allowance for credit losses (“ACL”) calculation, partially offset by the increase in NPAs. As of September 30, 2026, the ACL was $25.1 million. The ratio of ACL to loans HFI was 1.08% as of September 30, 2026 and 1.09% as of June 30, 2026. The net charge-offs to average loans ratio was 0.01% for the third quarter of 2026 and 0.00% for the prior quarter.
Deposits
As of September 30, 2026, deposits were $2.96 billion, an increase of $56.5 million, or 1.9%, compared to June 30, 2026. The increase in deposits for the third quarter of 2026 was primarily due to higher commercial deposit account balances.
| September 30, 2026 | June 30, 2026 | Change from June 30, 2026 to September 30, 2026 |
|---|
| Deposits by Account Type |
| (dollars in thousands) | Balance | % of Total | Balance | % of Total | $ Change | % Change |
| Noninterest-bearing demand deposits | $915,626 | 30.9% | $910,457 | 31.3% | $5,169 | 0.6% |
| Interest-bearing deposits: | | | | | | |
| Interest-bearing demand deposits | 197,619 | 6.7% | 183,384 | 6.3% | 14,235 | 7.8% |
| NOW accounts | 443,659 | 15.0% | 439,093 | 15.1% | 4,566 | 1.0% |
| Money market accounts | 620,283 | 20.9% | 590,414 | 20.3% | 29,869 | 5.1% |
| Savings accounts | 174,828 | 5.9% | 173,277 | 6.0% | 1,551 | 0.9% |
| Time deposits less than or equal to $250,000 | 399,187 | 13.5% | 402,423 | 13.9% | (3,236) | (0.8%) |
| Time deposits greater than $250,000 | 210,336 | 7.1% | 206,019 | 7.1% | 4,317 | 2.1% |
| Total interest-bearing deposits | 2,045,912 | 69.1% | 1,994,610 | 68.7% | 51,302 | 2.6% |
| Total deposits | $2,961,538 | 100.0% | $2,905,067 | 100.0% | $56,471 | 1.9% |
| September 30, 2026 | June 30, 2026 | Change from June 30, 2026 to September 30, 2026 |
|---|
| Deposits by Customer Type |
| (dollars in thousands) | Balance | % of Total | Balance | % of Total | $ Change | % Change |
| Consumer | $1,389,847 | 46.9% | $1,401,507 | 48.2% | $(11,660) | (0.8%) |
| Commercial | 1,349,388 | 45.6% | 1,269,426 | 43.7% | 79,962 | 6.3% |
| Public | 222,303 | 7.5% | 234,134 | 8.1% | (11,831) | (5.1%) |
| Total deposits | $2,961,538 | 100.0% | $2,905,067 | 100.0% | $56,471 | 1.9% |
Stockholders’ Equity
Total stockholders’ equity as of September 30, 2026, was $382.2 million, compared to $384.6 million as of June 30, 2026. The $2.4 million, or 0.6%, decrease in stockholders’ equity during the third quarter of 2026 was attributable to a $13.4 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities and $1.6 million in cash dividends related to a $0.25 per share cash dividend that we paid on September 17, 2026, partially offset by $12.6 million of net income and $129,000 of stock compensation.
Non-GAAP Disclosure
Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.
Management and the board of directors review tangible common equity, realized common equity, tangible assets, tangible book value per share, realized book value per share, and tangible common equity to tangible assets as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.
A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.
About Red River Bancshares, Inc.
Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of our commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and two combined loan and deposit production offices, one each in Lafayette, Louisiana, and Shreveport, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes the Slidell-Mandeville-Covington MSA; Acadiana, which includes the Lafayette MSA; and New Orleans, which includes the New Orleans-Metairie MSA.
Forward-Looking Statements
Forward-looking statements notice
Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business, interest rates, and markets, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by applicable law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.
| As of and for the Three Months Ended | As of and for the Nine Months Ended |
|---|
| FINANCIAL HIGHLIGHTS (UNAUDITED) |
| (dollars in thousands, except per share data) | September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 |
| Net Income | $12,563 | $11,763 | $10,801 | $36,297 | $31,349 |
| Per Common Share Data: | | | | | |
| Earnings per share, basic | $1.91 | $1.79 | $1.63 | $5.51 | $4.67 |
| Earnings per share, diluted | $1.90 | $1.78 | $1.63 | $5.49 | $4.65 |
| Book value per share | $58.05 | $58.40 | $53.42 | $58.05 | $53.42 |
| Tangible book value per share | $57.81 | $58.17 | $53.18 | $57.81 | $53.18 |
| Realized book value per share | $66.87 | $65.19 | $60.51 | $66.87 | $60.51 |
| Cash dividends per share | $0.25 | $0.25 | $0.15 | $0.75 | $0.39 |
| Shares outstanding | 6,584,106 | 6,584,696 | 6,576,609 | 6,584,106 | 6,576,609 |
| Weighted average shares outstanding, basic | 6,584,119 | 6,584,696 | 6,616,826 | 6,581,962 | 6,710,902 |
| Weighted average shares outstanding, diluted | 6,611,827 | 6,615,135 | 6,640,839 | 6,609,940 | 6,735,447 |
| Summary Performance Ratios: | | | | | |
| Return on average assets | 1.48% | 1.43% | 1.34% | 1.45% | 1.32% |
| Return on average equity | 12.84% | 12.41% | 12.62% | 12.73% | 12.58% |
| Net interest margin | 3.56% | 3.56% | 3.38% | 3.53% | 3.29% |
| Net interest margin FTE | 3.61% | 3.61% | 3.43% | 3.58% | 3.34% |
| Efficiency ratio | 53.71% | 54.25% | 56.06% | 53.46% | 56.15% |
| Loans HFI to deposits ratio | 78.46% | 77.93% | 76.55% | 78.46% | 76.55% |
| Noninterest-bearing deposits to deposits ratio | 30.92% | 31.34% | 32.37% | 30.92% | 32.37% |
| Noninterest income to average assets | 0.58% | 0.58% | 0.62% | 0.57% | 0.63% |
| Operating expense to average assets | 2.20% | 2.22% | 2.22% | 2.17% | 2.18% |
| Summary Credit Quality Ratios: | | | | | |
| NPAs to assets | 0.17% | 0.08% | 0.08% | 0.17% | 0.08% |
| Nonperforming loans to loans HFI | 0.24% | 0.11% | 0.11% | 0.24% | 0.11% |
| ACL to loans HFI | 1.08% | 1.09% | 1.05% | 1.08% | 1.05% |
| Net charge-offs to average loans | 0.01% | 0.00% | 0.00% | 0.01% | 0.02% |
| Capital Ratios: | | | | | |
| Stockholders’ equity to assets | 11.35% | 11.61% | 10.93% | 11.35% | 10.93% |
| Tangible common equity to tangible assets | 11.31% | 11.57% | 10.89% | 11.31% | 10.89% |
| Total risk-based capital to risk-weighted assets | 18.72% | 18.76% | 18.18% | 18.72% | 18.18% |
| Tier I risk-based capital to risk-weighted assets | 17.68% | 17.71% | 17.17% | 17.68% | 17.17% |
| Common equity Tier I capital to risk-weighted assets | 17.68% | 17.71% | 17.17% | 17.68% | 17.17% |
| Tier I risk-based capital to average assets | 12.82% | 12.77% | 12.17% | 12.82% | 12.17% |
Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.
| RED RIVER BANCSHARES, INC. |
| CONSOLIDATED BALANCE SHEETS (UNAUDITED) |
| (in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 |
| ASSETS | | | | | |
| Cash and due from banks | $29,044 | $33,327 | $36,677 | $25,685 | $33,651 |
| Interest-bearing deposits in other banks | 176,004 | 162,069 | 173,845 | 187,707 | 127,404 |
| Securities available-for-sale, at fair value | 601,571 | 617,016 | 638,729 | 647,310 | 636,679 |
| Securities held-to-maturity, at amortized cost | 115,922 | 118,356 | 120,609 | 122,619 | 124,853 |
| Equity securities, at fair value | 2,887 | 3,000 | 3,012 | 3,031 | 3,019 |
| Nonmarketable equity securities | 2,459 | 2,442 | 2,425 | 2,407 | 2,387 |
| Loans held for sale | 1,699 | 2,512 | 3,951 | 3,148 | 3,260 |
| Loans held for investment | 2,323,480 | 2,263,980 | 2,254,546 | 2,248,669 | 2,173,073 |
| Allowance for credit losses | (25,119) | (24,771) | (24,051) | (23,399) | (22,801) |
| Premises and equipment, net | 61,814 | 60,136 | 60,516 | 59,270 | 58,573 |
| Accrued interest receivable | 10,682 | 10,317 | 11,352 | 11,131 | 10,281 |
| Bank-owned life insurance | 31,964 | 31,724 | 31,488 | 31,267 | 31,041 |
| Intangible assets | 1,546 | 1,546 | 1,546 | 1,546 | 1,546 |
| Right-of-use assets | 976 | 1,326 | 1,407 | 1,487 | 1,564 |
| Other assets | 32,622 | 28,345 | 30,548 | 29,032 | 29,833 |
| Total Assets | $3,367,551 | $3,311,325 | $3,346,600 | $3,350,910 | $3,214,363 |
| LIABILITIES | | | | | |
| Noninterest-bearing deposits | $915,626 | $910,457 | $916,413 | $913,868 | $918,974 |
| Interest-bearing deposits | 2,045,912 | 1,994,610 | 2,029,522 | 2,049,544 | 1,919,809 |
| Total Deposits | 2,961,538 | 2,905,067 | 2,945,935 | 2,963,412 | 2,838,783 |
| Accrued interest payable | 6,069 | 6,349 | 6,025 | 6,128 | 6,681 |
| Lease liabilities | 1,027 | 1,383 | 1,465 | 1,544 | 1,623 |
| Accrued expenses and other liabilities | 16,736 | 13,975 | 19,849 | 14,676 | 15,965 |
| Total Liabilities | 2,985,370 | 2,926,774 | 2,973,274 | 2,985,760 | 2,863,052 |
| COMMITMENTS AND CONTINGENCIES | - | - | - | - | - |
| STOCKHOLDERS’ EQUITY | | | | | |
| Preferred stock, no par value | - | - | - | - | - |
| Common stock, no par value | 27,591 | 27,591 | 27,591 | 27,543 | 27,543 |
| Additional paid-in capital | 3,602 | 3,473 | 3,329 | 3,217 | 3,105 |
| Retained earnings | 409,092 | 398,175 | 388,058 | 377,731 | 367,302 |
| Accumulated other comprehensive income (loss) | (58,104) | (44,688) | (45,652) | (43,341) | (46,639) |
| Total Stockholders’ Equity | 382,181 | 384,551 | 373,326 | 365,150 | 351,311 |
| Total Liabilities and Stockholders’ Equity | $3,367,551 | $3,311,325 | $3,346,600 | $3,350,910 | $3,214,363 |
| For the Three Months Ended | For the Nine Months Ended |
|---|
| RED RIVER BANCSHARES, INC. |
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) |
| (in thousands) | September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 |
| INTEREST AND DIVIDEND INCOME | | | | | |
| Interest and fees on loans | $33,234 | $32,234 | $30,612 | $97,013 | $88,383 |
| Interest on securities | 5,671 | 5,778 | 5,425 | 17,293 | 15,428 |
| Interest on deposits in other banks | 1,861 | 1,294 | 2,079 | 4,892 | 6,803 |
| Dividends on stock | 31 | 17 | 33 | 66 | 73 |
| Total Interest and Dividend Income | 40,797 | 39,323 | 38,149 | 119,264 | 110,687 |
| INTEREST EXPENSE | | | | | |
| Interest on deposits | 10,914 | 10,356 | 11,263 | 32,010 | 33,372 |
| Total Interest Expense | 10,914 | 10,356 | 11,263 | 32,010 | 33,372 |
| Net Interest Income | 29,883 | 28,967 | 26,886 | 87,254 | 77,315 |
| Provision for credit losses | 500 | 750 | 650 | 2,000 | 1,550 |
| Net Interest Income After Provision for Credit Losses | 29,383 | 28,217 | 26,236 | 85,254 | 75,765 |
| NONINTEREST INCOME | | | | | |
| Service charges on deposit accounts | 1,430 | 1,388 | 1,442 | 4,213 | 4,160 |
| Debit card income, net | 1,062 | 1,067 | 852 | 3,045 | 2,925 |
| Mortgage loan income | 698 | 928 | 652 | 2,231 | 1,749 |
| Brokerage income | 1,015 | 874 | 1,131 | 2,827 | 3,446 |
| Loan and deposit income | 456 | 521 | 393 | 1,475 | 1,270 |
| Bank-owned life insurance income | 241 | 236 | 224 | 697 | 661 |
| Gain (Loss) on equity securities | (113) | (13) | 28 | (144) | 82 |
| Gain (Loss) on sale and call of securities | - | (22) | - | (22) | - |
| SBIC income (loss) | 112 | (291) | (75) | (283) | 252 |
| Other income (loss) | 23 | 50 | 378 | 155 | 470 |
| Total Noninterest Income | 4,924 | 4,738 | 5,025 | 14,194 | 15,015 |
| OPERATING EXPENSES | | | | | |
| Personnel expenses | 10,917 | 10,711 | 10,511 | 32,145 | 30,750 |
| Occupancy and equipment expenses | 1,939 | 1,935 | 1,846 | 5,758 | 5,394 |
| Technology expenses | 978 | 955 | 831 | 2,796 | 2,486 |
| Advertising | 344 | 324 | 293 | 995 | 911 |
| Other business development expenses | 600 | 641 | 531 | 1,790 | 1,544 |
| Data processing expense | 783 | 758 | 724 | 1,918 | 1,734 |
| Other taxes | 559 | 553 | 604 | 1,671 | 1,825 |
| Loan and deposit expenses | 426 | 242 | 356 | 771 | 816 |
| Legal and professional expenses | 487 | 604 | 605 | 1,621 | 1,849 |
| Regulatory assessment expenses | 450 | 409 | 430 | 1,275 | 1,209 |
| Other operating expenses | 1,211 | 1,154 | 1,158 | 3,490 | 3,326 |
| Total Operating Expenses | 18,694 | 18,286 | 17,889 | 54,230 | 51,844 |
| Income Before Income Tax Expense | 15,613 | 14,669 | 13,372 | 45,218 | 38,936 |
| Income tax expense | 3,050 | 2,906 | 2,571 | 8,921 | 7,587 |
| Net Income | $12,563 | $11,763 | $10,801 | $36,297 | $31,349 |
| For the Three Months Ended |
|---|
| September 30, 2026 | June 30, 2026 |
|---|
| RED RIVER BANCSHARES, INC. |
| NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED) |
| (dollars in thousands) | Average Balance Outstanding | Interest Income/ Expense | Average Yield/ Rate | Average Balance Outstanding | Interest Income/ Expense | Average Yield/ Rate |
| Assets | | | | | | |
| Interest-earning assets: | | | | | | |
| Loans(1,2) | $2,299,635 | $33,234 | 5.66% | $2,262,588 | $32,234 | 5.64% |
| Securities - taxable | 604,138 | 4,713 | 3.12% | 620,153 | 4,808 | 3.10% |
| Securities - tax-exempt | 178,077 | 958 | 2.15% | 181,703 | 970 | 2.14% |
| Interest-bearing deposits in other banks | 198,578 | 1,861 | 3.67% | 141,318 | 1,294 | 3.63% |
| Nonmarketable equity securities | 2,444 | 31 | 5.01% | 2,427 | 17 | 2.81% |
| Total interest-earning assets | 3,282,872 | $40,797 | 4.88% | 3,208,189 | $39,323 | 4.86% |
| Allowance for credit losses | (25,022) | | | (24,334) | | |
| Noninterest-earning assets | 116,272 | | | 120,368 | | |
| Total assets | $3,374,122 | | | $3,304,223 | | |
| Liabilities and Stockholders’ Equity | | | | | | |
| Interest-bearing liabilities: | | | | | | |
| Interest-bearing transaction deposits | $1,404,032 | $5,691 | 1.61% | $1,349,934 | $5,192 | 1.54% |
| Time deposits | 608,435 | 5,223 | 3.41% | 607,580 | 5,164 | 3.41% |
| Total interest-bearing deposits | 2,012,467 | 10,914 | 2.15% | 1,957,514 | 10,356 | 2.12% |
| Other borrowings | - | - | - % | - | - | - % |
| Total interest-bearing liabilities | 2,012,467 | $10,914 | 2.15% | 1,957,514 | $10,356 | 2.12% |
| Noninterest-bearing liabilities: | | | | | | |
| Noninterest-bearing deposits | 950,293 | | | 945,138 | | |
| Accrued interest and other liabilities | 23,282 | | | 21,481 | | |
| Total noninterest-bearing liabilities | 973,575 | | | 966,619 | | |
| Stockholders’ equity | 388,080 | | | 380,090 | | |
| Total liabilities and stockholders’ equity | $3,374,122 | | | $3,304,223 | | |
| Net interest income | | $29,883 | | | $28,967 | |
| Net interest spread | | | 2.73% | | | 2.74% |
| Net interest margin | | | 3.56% | | | 3.56% |
| Net interest margin FTE | | | 3.61% | | | 3.61% |
| Cost of deposits | | | 1.46% | | | 1.43% |
| Cost of funds | | | 1.32% | | | 1.29% |
Includes average outstanding balances of loans held for sale of $2.9 million and $4.7 million for the three months ended September 30, 2026 and June 30, 2026, respectively.
Nonaccrual loans are included as loans carrying a zero yield.
Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.
| For the Nine Months Ended |
|---|
| September 30, 2026 | September 30, 2025 |
|---|
| RED RIVER BANCSHARES, INC. |
| NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED) |
| (dollars in thousands) | Average Balance Outstanding | Interest Income/ Expense | Average Yield/ Rate | Average Balance Outstanding | Interest Income/ Expense | Average Yield/ Rate |
| Assets | | | | | | |
| Interest-earning assets: | | | | | | |
| Loans(1,2) | $2,272,701 | $97,013 | 5.63% | $2,121,894 | $88,383 | 5.50% |
| Securities - taxable | 617,853 | 14,393 | 3.11% | 573,645 | 12,492 | 2.90% |
| Securities - tax-exempt | 180,907 | 2,900 | 2.14% | 187,210 | 2,936 | 2.09% |
| Interest-bearing deposits in other banks | 177,271 | 4,892 | 3.64% | 205,182 | 6,803 | 4.37% |
| Nonmarketable equity securities | 2,427 | 66 | 3.64% | 2,350 | 73 | 4.12% |
| Total interest-earning assets | 3,251,159 | $119,264 | 4.85% | 3,090,281 | $110,687 | 4.73% |
| Allowance for credit losses | (24,339) | | | (22,069) | | |
| Noninterest-earning assets | 121,197 | | | 106,639 | | |
| Total assets | $3,348,017 | | | $3,174,851 | | |
| Liabilities and Stockholders’ Equity | | | | | | |
| Interest-bearing liabilities: | | | | | | |
| Interest-bearing transaction deposits | $1,397,896 | $16,440 | 1.57% | $1,308,321 | $16,877 | 1.72% |
| Time deposits | 607,995 | 15,570 | 3.42% | 598,776 | 16,495 | 3.68% |
| Total interest-bearing deposits | 2,005,891 | 32,010 | 2.13% | 1,907,097 | 33,372 | 2.34% |
| Other borrowings | - | - | - % | - | - | - % |
| Total interest-bearing liabilities | 2,005,891 | $32,010 | 2.13% | 1,907,097 | $33,372 | 2.34% |
| Noninterest-bearing liabilities: | | | | | | |
| Noninterest-bearing deposits | 937,804 | | | 910,743 | | |
| Accrued interest and other liabilities | 23,243 | | | 23,766 | | |
| Total noninterest-bearing liabilities | 961,047 | | | 934,509 | | |
| Stockholders’ equity | 381,079 | | | 333,245 | | |
| Total liabilities and stockholders’ equity | $3,348,017 | | | $3,174,851 | | |
| Net interest income | | $87,254 | | | $77,315 | |
| Net interest spread | | | 2.72% | | | 2.39% |
| Net interest margin | | | 3.53% | | | 3.29% |
| Net interest margin FTE | | | 3.58% | | | 3.34% |
| Cost of deposits | | | 1.45% | | | 1.58% |
| Cost of funds | | | 1.32% | | | 1.44% |
Includes average outstanding balances of loans held for sale of $3.4 million and $2.8 million for the nine months ended September 30, 2026 and 2025, respectively.
Nonaccrual loans are included as loans carrying a zero yield.
Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) |
| (dollars in thousands, except per share data) | September 30, 2026 | June 30, 2026 | September 30, 2025 |
| Tangible common equity | | | |
| Total stockholders’ equity | $382,181 | $384,551 | $351,311 |
| Adjustments: | | | |
| Intangible assets | (1,546) | (1,546) | (1,546) |
| Tangible common equity (non-GAAP) | $380,635 | $383,005 | $349,765 |
| Realized common equity | | | |
| Total stockholders’ equity | $382,181 | $384,551 | $351,311 |
| Adjustments: | | | |
| Accumulated other comprehensive (income) loss | 58,104 | 44,688 | 46,639 |
| Realized common equity (non-GAAP) | $440,285 | $429,239 | $397,950 |
| Common shares outstanding | 6,584,106 | 6,584,696 | 6,576,609 |
| Book value per share | $58.05 | $58.40 | $53.42 |
| Tangible book value per share (non-GAAP) | $57.81 | $58.17 | $53.18 |
| Realized book value per share (non-GAAP) | $66.87 | $65.19 | $60.51 |
| Tangible assets | | | |
| Total assets | $3,367,551 | $3,311,325 | $3,214,363 |
| Adjustments: | | | |
| Intangible assets | (1,546) | (1,546) | (1,546) |
| Tangible assets (non-GAAP) | $3,366,005 | $3,309,779 | $3,212,817 |
| Stockholders’ equity to assets | 11.35% | 11.61% | 10.93% |
| Tangible common equity to tangible assets (non-GAAP) | 11.31% | 11.57% | 10.89% |
Contacts
Isabel V. Carriere, CPA, CGMA
Senior Executive Vice President and Chief Financial Officer
318-561-4023 icarriere@redriverbank.net