RED RIVER BANCSHARES INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
RRBI$104.77-0.4%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| INTEREST AND DIVIDEND INCOME | ||||
| Interest and fees on loans | $27,909 | $23,925 | $80,684 | $68,541 |
| Interest on securities | 4,334 | 3,404 | 12,465 | 10,635 |
| Interest on federal funds sold | — | — | — | 886 |
| Interest on deposits in other banks | 2,630 | 2,950 | 8,378 | 6,359 |
| Dividends on stock | 28 | 45 | 73 | 106 |
| Total Interest and Dividend Income | 34,901 | 30,324 | 101,600 | 86,527 |
| INTEREST EXPENSE | ||||
| Interest on deposits | 12,444 | 9,562 | 35,993 | 21,319 |
| Interest on other borrowed funds | — | 37 | — | 64 |
| Total Interest Expense | 12,444 | 9,599 | 35,993 | 21,383 |
| Net Interest Income | 22,457 | 20,725 | 65,607 | 65,144 |
| Provision for credit losses | 300 | 185 | 900 | 485 |
| Net Interest Income After Provision for Credit Losses | 22,157 | 20,540 | 64,707 | 64,659 |
| NONINTEREST INCOME | ||||
| Service charges on deposit accounts | 1,486 | 1,489 | 4,223 | 4,317 |
| Debit card income, net | 905 | 830 | 2,875 | 2,687 |
| Mortgage loan income | 732 | 604 | 1,838 | 1,524 |
| Brokerage income | 987 | 1,029 | 2,867 | 2,759 |
| Loan and deposit income | 588 | 571 | 1,572 | 1,566 |
| Bank-owned life insurance income | 217 | 191 | 635 | 557 |
| Gain (Loss) on equity securities | 107 | (113) | 63 | (145) |
| SBIC income | 301 | 920 | 1,107 | 2,479 |
| Other income (loss) | 96 | 60 | 266 | 184 |
| Total Noninterest Income | 5,419 | 5,581 | 15,446 | 15,928 |
| OPERATING EXPENSES | ||||
| Personnel expenses | 9,700 | 9,461 | 28,854 | 28,008 |
| Occupancy and equipment expenses | 1,661 | 1,663 | 4,975 | 4,933 |
| Technology expenses | 865 | 675 | 2,298 | 2,066 |
| Advertising | 317 | 331 | 1,061 | 955 |
| Other business development expenses | 521 | 522 | 1,589 | 1,451 |
| Data processing expense | 652 | 651 | 1,650 | 1,689 |
| Other taxes | 622 | 664 | 1,859 | 2,042 |
| Loan and deposit expenses | 294 | 238 | 561 | 728 |
| Legal and professional expenses | 653 | 616 | 2,000 | 1,714 |
| Regulatory assessment expenses | 421 | 419 | 1,226 | 1,223 |
| Other operating expenses | 1,046 | 990 | 3,241 | 3,041 |
| Total Operating Expenses | 16,752 | 16,230 | 49,314 | 47,850 |
| Income Before Income Tax Expense | 10,824 | 9,891 | 30,839 | 32,737 |
| Income tax expense | 2,070 | 1,870 | 5,910 | 6,150 |
| Net Income | $8,754 | $8,021 | $24,929 | $26,587 |
| EARNINGS PER SHARE | ||||
| Basic | $1.28 | $1.12 | $3.60 | $3.70 |
| Diluted | $1.27 | $1.12 | $3.59 | $3.70 |
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