Red River Bancshares Files Q3 2024 10-Q

TL;DR

**RRBI Q3 10-Q FILED: Check financials for latest performance.**

AI Summary

Red River Bancshares Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers financial performance and operational details for the third quarter and the year-to-date period. Key financial data and disclosures relevant to investors and stakeholders are presented in this report.

Why It Matters

This filing provides crucial financial insights into Red River Bancshares' performance, helping investors assess the company's health and make informed decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 20240930 — Reporting Period End (As of September 30, 2024)
• 20241108 — Filing Date (The date the report was submitted to the SEC)

Key Players & Entities

• RED RIVER BANCSHARES INC (company) — Filer
• 0001071236-24-000088 (other) — Accession Number
• 20240930 (date) — Reporting Period End Date
• 20241108 (date) — Filing Date
• LA (location) — State of Incorporation

FAQ

Filing Documents

• rrbi-20240930.htm (10-Q) — 2739KB
• rrbiexhibit311q32024.htm (EX-31.1) — 11KB
• rrbiexhibit312q32024.htm (EX-31.2) — 11KB
• rrbiexhibit321q32024.htm (EX-32.1) — 5KB
• rrbiexhibit322q32024.htm (EX-32.2) — 5KB
• 0001071236-24-000088.txt ( ) — 11143KB
• rrbi-20240930.xsd (EX-101.SCH) — 39KB
• rrbi-20240930_cal.xml (EX-101.CAL) — 108KB
• rrbi-20240930_def.xml (EX-101.DEF) — 225KB
• rrbi-20240930_lab.xml (EX-101.LAB) — 548KB
• rrbi-20240930_pre.xml (EX-101.PRE) — 416KB
• rrbi-20240930_htm.xml (XML) — 2465KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Consolidated Balance Sheets 5 Consolidated Statements of Income 6 Consolidated Statements of Comprehensive Income 7 Consolidated Statements of Changes in Stockholders' Equity 8 Consolidated Statements of Cash Flows 10 Notes to Unaudited Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 54 PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56

Signatures

Signatures 57 2 Table of Contents GLOSSARY OF TERMS Unless the context indicates otherwise, references in this filing to "we," "our," "us," "the Company," and "our company" refer to Red River Bancshares, Inc., a Louisiana corporation and bank holding company, and its consolidated subsidiaries. All references in this filing to "Red River Bank," "the bank," and "the Bank" refer to Red River Bank, our wholly owned bank subsidiary. Other abbreviations or acronyms used in this filing are defined below. ABBREVIATION OR ACRONYM DEFINITION ACL Allowance for credit losses AFS Available-for-sale AOCI Accumulated other comprehensive income or loss ASC Accounting Standards Codification ASU Accounting Standards Update Basel III Basel Committee's 2010 Regulatory Capital Framework (Third Accord) BOLI Bank-owned life insurance bp(s) Basis point(s) CBLR Community bank leverage ratio CECL Current Expected Credit Losses, related to ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments CRA Community Reinvestment Act CRE Commercial real estate Director Compensation Program Amended and Restated Director Compensation program, which allows directors of the Company and the Bank an opportunity to select how to receive their annual director fees. Economic Aid Act Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act Economic Growth Act Economic Growth, Regulatory Relief, and Consumer Protection Act EPS Earnings per share Exchange Act Securities Exchange Act of 1934, as amended FDIC Federal Deposit Insurance Corporation Federal Reserve Board of Governors of the Federal Reserve System FHLB Federal Home Loan Bank of Dallas FOMC Federal Open Market Committee FTE Fully taxable equivalent basis GAAP Generally Accepted Accounting Principles in the United States of America HFI Held for investment HFS Held for sale HTM Held-to-maturity LDPO Loan and deposit production office

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RED RIVER BANCSHARES, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share amounts) September 30, 2024 December 31, 2023 ASSETS Cash and due from banks $ 39,664 $ 53,062 Interest-bearing deposits in other banks 192,983 252,364 Total Cash and Cash Equivalents 232,647 305,426 Securities available-for-sale, at fair value (amortized cost of $ 610,008 and $ 632,258 , respectively) 560,555 570,092 Securities held-to-maturity, at amortized cost (fair value of $ 116,859 and $ 119,029 , respectively) 134,145 141,236 Equity securities, at fair value 3,028 2,965 Nonmarketable equity securities 2,305 2,239 Loans held for sale 1,805 1,306 Loans held for investment 2,056,048 1,992,858 Less: Allowance for credit losses ( 21,757 ) ( 21,336 ) Loans held for investment, net 2,034,291 1,971,522 Premises and equipment, net 57,661 57,088 Accrued interest receivable 9,465 9,945 Bank-owned life insurance 30,164 29,529 Intangible assets 1,546 1,546 Right-of-use assets 2,853 3,629 Other assets 31,285 32,287 Total Assets $ 3,101,750 $ 3,128,810 LIABILITIES Noninterest-bearing deposits $ 882,394 $ 916,456 Interest-bearing deposits 1,864,731 1,885,432 Total Deposits 2,747,125 2,801,888 Accrued interest payable 11,751 8,000 Lease liabilities 2,982 3,767 Accrued expenses and other liabilities 15,574 11,304 Total Liabilities 2,777,432 2,824,959 COMMITMENTS AND CONTINGENCIES — — STOCKHOLDERS' EQUITY Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding — — Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 6,826,120 and 7,091,637 shares, respectively 41,402 55,136 Additional paid-in capital 2,682 2,407 Retained earnings 329,858 306,802 Accumulated other comprehensive income (loss) ( 49,624 ) ( 60,494 ) Total Stockholders' Equity 324,318 303,851 Total Liabilities and Stockholders' Equity $ 3,101,750 $ 3,128,810 The accompanying not

View Full Filing

View this 10-Q filing on SEC EDGAR