Red River Bancshares Enters Material Definitive Agreement
Ticker: RRBI · Form: 8-K · Filed: Nov 5, 2024 · CIK: 1071236
| Field | Detail |
|---|---|
| Company | Red River Bancshares Inc (RRBI) |
| Form Type | 8-K |
| Filed Date | Nov 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $2.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
Related Tickers: RRBI
TL;DR
RRBI signed a big deal, filing shows. Details TBD.
AI Summary
Red River Bancshares, Inc. announced on November 5, 2024, that it has entered into a material definitive agreement. The company also reported other events and filed financial statements and exhibits as part of this Form 8-K filing. Specific details of the agreement and financial information were not provided in the excerpt.
Why It Matters
This filing indicates a significant new agreement for Red River Bancshares, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.
Key Players & Entities
- Red River Bancshares, Inc. (company) — Registrant
- November 5, 2024 (date) — Date of Report
- Louisiana (location) — State of Incorporation
- Alexandria (location) — Principal Executive Offices City
FAQ
What is the nature of the material definitive agreement entered into by Red River Bancshares, Inc.?
The provided excerpt does not specify the details of the material definitive agreement.
When was the Form 8-K filed?
The Form 8-K was filed on November 5, 2024.
What is Red River Bancshares, Inc.'s principal executive office address?
The principal executive offices are located at 1412 Centre Court Drive, Suite 301, Alexandria, Louisiana 71301.
What is the IRS Employer Identification Number for Red River Bancshares, Inc.?
The IRS Employer Identification Number is 72-1412058.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934.
Filing Stats: 796 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-11-05 16:32:43
Key Financial Figures
- $2.5 million — a total purchase price of approximately $2.5 million. The purchase price for the Common Stoc
Filing Documents
- rrbi-20241105.htm (8-K) — 28KB
- novstockrepurchaseagtex101.htm (EX-10.1) — 62KB
- pressrelease_novsimpsonrep.htm (EX-99.1) — 9KB
- rrbi1q20dividendpress_imag.gif (GRAPHIC) — 11KB
- 0001071236-24-000084.txt ( ) — 261KB
- rrbi-20241105.xsd (EX-101.SCH) — 2KB
- rrbi-20241105_lab.xml (EX-101.LAB) — 23KB
- rrbi-20241105_pre.xml (EX-101.PRE) — 13KB
- rrbi-20241105_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On November 5, 2024, Red River Bancshares, Inc. (the "Company") entered into a stock repurchase agreement (the "Stock Repurchase Agreement") with the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 (the "Stockholders") for the purchase by the Company of 50,000 shares of the Company's common stock, no par value per share (the "Common Stock") from the Stockholders in a privately-negotiated transaction for a total purchase price of approximately $2.5 million. The purchase price for the Common Stock reflects a discount to the 10-, 20-, and 30-day volume weighted average price on November 1, 2024. The Stock Repurchase Agreement contains customary representations and warranties, covenants, and closing conditions, and the transaction is expected to close on or before November 7, 2024. The Stockholders, whose beneficiaries are the children of former Company director John C. Simpson, have informed the Company that they are entering into the Stock Repurchase Agreement in order to diversify their investment portfolios for estate planning purposes. The Company's Board of Directors and the Nominating and Corporate Governance Committee of the Board of Directors approved the repurchase. Prior to the transaction, the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 directly and indirectly beneficially owned 284,739 and 291,407 shares of Common Stock, respectively, representing collectively 8.4% of the Company's issued and outstanding Common Stock. Immediately following the transaction, the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 will directly and indirectly beneficially own 259,739 and 266,407 shares of Common Stock, respectively, representing collectively 7.7% of the Company's issued and outstanding Commo
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: November 5, 2024 RED RIVER BANCSHARES, INC. By: /s/ Julia E. Callis Julia E. Callis Senior Vice President, General Counsel, and Corporate Secretary