Red River Bancshares, Inc. · NASDAQ:RRBI
Red River Bancshares — Q2 2025 Earnings Presentation
47 slides from Red River Bancshares's earnings presentation, Jun 30, 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION As of June 30, 2025 Nasdaq: RRBI
Slide 2: Legal Disclosures
Legal Disclosures Statements in this presentation 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 Securitie
Slide 3: Glossary
Glossary ■ 4Q21 - Fourth Quarter of 2021 ■ CAGR – Compound annual growth rate ■ M – Dollars in millions ■ 1Q22 – First Quarter of 2022 ■ CGMA – Chartered Global Management ■ M.B.A. – Master of Business Administration Accountant ■ 3Q22 – Third Quarter of 2022 ■ MBS – Mortgage-backed securities ■ CL(s
Slide 4: We're your people.
Were your people. re RED RIVER BANK redriverbank.net
Slide 5: Company overview and key facts
■ Established in 1998 in Alexandria, Louisiana ■ Completed IPO in May 2019 ■ Included in Russell 2000 Index ■ As of June 30, 2025: ■ Assets = $3.17 billion ■ Loans HFI = $2.14 billion ■ Securities = $697.3 million ■ Deposits = $2.81 billion ■ Market capitalization = $391.9 million ■ Ownership ■ Insi
Slide 6: We're your people.
Strong • Well capitalized • Solid liquidity position • Stock repurchase program Stable available • Conservative credit culture • Operating in the largest with solid asset quality markets in Louisiana • 28 banking centers and two • Granular, diversified, relationship-based loan and Consistent LDPOs d
Slide 7: History & Strategy
History & Strategy ge RED RIVER BANCSHARES, INC.
Slide 8: Guiding Principles
Guiding Principles Relationship-Driven Client Focus Our relationship-driven client focus and consistent lending philosophy result in loyal loan customers who also provide stable core deposits. Experienced Bankers In addition to a cohesive, long-tenured executive management team, we enjoy the benefit
Slide 9: Company History
Company History 1998 Completed first stock offering of $12.4M 1999 Red River Bank opened in Rapides Parish 2000 Completed stock offering of $4.0M 2003 Acquired Bank of Lecompte in Central Louisiana 2006 Expanded into Northwest Market via banking center and completed stock offering of $5.0M 2009 Comp
Slide 10: Book Value
Book Value $60.00 Realized Book Value Per Share1,2 $58.92 $55.00 Book Value Per Share2 $50.00 $50.23 Tangible Book Value Per Share1,2 $45.00 $50.00 $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 CAGR 10.7% $10.00 $5.00 $— 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201
Slide 11: EPS & Dividends
EPS & Dividends Earnings Per Share (Diluted) Cash Dividends Per Share $5.13 $4.95 $4.86 $0.39 $4.51 $1.42 $0.36 $1.16 $1.37 $1.17 $0.32 1 $0.09 $0.15 $0.28 $0.28 $0.08 $1.12 $3.03 $1.42 $1.27 $0.07 $0.07 $1.12 $0.09 $0.08 $1.51 $0.12 $0.07 $0.07 $1.25 $1.16 $1.13 $1.27 $0.09 $0.08 $0.07 $0.07 $1.52
Slide 12: Growth Strategies
Growth Strategies De Novo Growth Strategy ■ Disciplined, targeted expansions for profitable growth Historical Asset Growth Method As of June 30, 2025 ■ Target markets with significant disruption by competitors ■ Concentrate on urban markets with growth potential ■ Focus on markets where market share
Slide 13: Expansion Highlights
Expansion Highlights Acadiana Market – Lafayette, Louisiana ■ 4Q24 – Purchased property. New banking center being planned with construction to begin in 2026. Will be our 2nd banking center in the Acadiana market New Orleans Market – New Orleans, Louisiana Poydras Street LDPO ■ 4Q21 – Opened LDPO in
Slide 14: Louisiana Economic Expansion
Louisiana Economic Expansion 14
Slide 15: Louisiana Energy Projects
Louisiana Energy Projects Venture Global LNG - Port Sulphur (On Mississippi River, south of New Orleans) ■ Began LNG production in December 2024 ■ In March 2025, announced $18.0 billion expansion, which will make it the largest LNG export facility in North America1 Beaver Lake Renewable Energy - Ale
Slide 16: Other Louisiana Economic Development
Other Louisiana Economic Development Meta Data Center - Richland Parish (Northeast Louisiana) ■ $10.0 billion Artificial Intelligence Optimized Data Center, expected to create 500 direct new jobs, 1,000 indirect new jobs, and 5,000 construction jobs1 ■ 4 million sq. ft., making it the largest of mor
Slide 17: Embracing Technology
Embracing Technology ■ In 1Q25, RRB upgraded online and mobile banking platforms using Q2 Software’s market leading products. These systems have enhanced RRB’s digital offerings for both consumer and business customers ■ Allows RRB to offer a unified user experience across multiple platforms ■ Furth
Slide 18: Competitive Landscape
Competitive Landscape ■ Red River Bank holds 2.1% of Louisiana deposits1 ■ 54.9% of Louisiana deposits are held by large national or regional banks1 ■ Large banks are de-emphasizing markets we serve Deposits in Louisiana1 $131.5 billion As of June 30, 2024 Deposit Market Share as of June 30, 20241 R
Slide 19: Leadership Team
Leadership Team R. Blake Chatelain ■ President, Chief Executive Officer, and Director G. Bridges Hall, IV ■ Founding management ■ Executive Vice President and Chief Credit Policy ■ Previously Executive Vice President of Rapides Bank & Trust Officer1 Company, a subsidiary of First Commerce Corporatio
Slide 20: 2Q25 Overview
2Q25 Overview ge RED RIVER BANCSHARES, INC.
Slide 21: 2Q25 Financial Results
2Q25 Financial Results ■ Net interest income and NIM FTE increased (dollars in thousands, except per share data) 2Q25 1Q25 2Q24 Net Income $ 10,196 $ 10,352 $ 7,987 ■ NIM FTE improved 14 bps EPS, Diluted $ 1.51 $ 1.52 $ 1.16 Book Value Per Share $ 50.23 $ 49.18 $ 44.58 ■ Net interest income increase
Slide 22: Balance Sheet
Balance Sheet As of (dollars in thousands) 6/30/25 3/31/25 6/30/24 ■ Loans HFI increased 1.1% to $2.14 Assets billion with steady loan closings Cash and due from banks $ 42,453 $ 36,438 $ 35,035 and construction commitment Interest-bearing deposits in other banks 167,989 215,717 178,038 fundings Sec
Slide 23: 2Q25 Selected Income Comparison
2Q25 Selected Income Comparison For the Quarters Ended Variance (dollars in thousands) 6/30/2025 3/31/2025 $ % Total Interest and Dividend Income $ 36,730 $ 35,808 $ 922 2.6% Total Interest Expense 10,911 11,198 (287) (2.6%) Net Interest Income $ 25,819 $ 24,610 $ 1,209 4.9% SBIC Income $ 47 $ 280 $
Slide 24: Loan Portfolio Overview
Loan Portfolio Overview ■ Loans HFI = $2.14 billion Largest Industry Concentrations As of June 30, 2025 ■ Average loan size excluding credit cards = $262,000 Health Care 8.0% ■ Broad diversification by industry Investor 1-to-4 and Multifamily 5.8% Construction 4.3% ■ Highest concentration = Health C
Slide 25: Health Care Loans
Health Care Loans ■ Largest industry concentration ■ Health Care loans = $171.6 million, or 8.0% of loans HFI ■ Average loan size = $378,000 ■ No shared national credits, real estate investment trusts, or assisted living facilities ■ Skilled nursing care facilities operate under a certificate of nee
Slide 26: Commercial Real Estate Loans
Commercial Real Estate Loans ■ CRE = $883.6 million, or 41.3% of loans HFI ■ C&D = $194.2 million, or 9.1% of loans HFI ■ CRE criticized loans = $6.9 million, or 0.8% of total CRE loans and 0.3% of loans HFI ■ No CRE NPLs as of June 30, 2025 Owner Occupied CRE NOO CRE C&D by Property Type by Propert
Slide 27: CRE - NOO Office Loans
CRE - NOO Office Loans ■ NOO office loans = $52.1 million, or 2.4% of loans HFI ■ Primarily centered in low-rise suburban areas ■ Average size = $964,000 NOO Office Loans by Geographic Market As of June 30, 2025 ■ Average loan-to-value for NOO office loans = 51.2% (dollars in thousands) ■ Criticized
Slide 28: C&D and CRE Historical Concentrations
C&D and CRE Historical Concentrations ■ Low levels of CRE relative to state, regional, and national peers ■ Concentration ratios as a % of risk-based capital are well below bank regulatory guidelines ■ As of 2Q25, RRB CRE Ratio = 159.4% and RRB C&D Ratio = 47.9% C&D Concentration(1) CRE Concentratio
Slide 29: Loans by Market
Loans by Market ■ Expanding operations in Southwest, Acadiana, Northshore, and Capital Markets ■ In the New Orleans Market, opened an LDPO in 2021, and full-service banking centers in 2022 and 2024 Opportunities and Challenges to Future Loans Loans HFI Opportunities Originated by Geographic Market A
Slide 30: Asset Quality
Asset Quality ■ NPAs decreased to $1.3 million NPAs / Assets (end of period) ■ NPAs to Assets = 0.04% 0.16% ■ Provision expense totaled $450,000 in 2Q25 0.11% 0.10% 0.10% ■ ACL to loans HFI = 1.04% 0.04% ■ Net charge-offs to average loans since Red River Bank’s opening in 1999 = 0.04% 2Q24 3Q24 4Q24
Slide 31: Deposits
Deposits ■ Deposits were $2.81 billion for 2Q25, a decrease of $15.1 million, or 0.5%, compared to 1Q25, due to the seasonal outflow of funds for income tax payments ■ Noninterest-bearing deposits to deposits ratio = 31.95% Deposits by Category (end of period) ■ Loans HFI to deposits ratio = 76.09%
Slide 32: Deposit Characteristics
Deposit Characteristics ■ Granular, diversified deposit portfolio and customer base throughout Louisiana Deposits by Customer Type % of Deposits ■ Average deposit account size = $28,000 As of June 30, 2025 (dollars in millions) ■ Public entity deposits ■ Relationship-based Louisiana public entities
Slide 33: Securities
Securities Key Securities Metrics as of June 30, 2025 ■ Securities AFS portfolio at fair value = $567.0 million, net of $61.1 million Securities of unrealized loss (end of period) (in millions) ■ Securities HTM portfolio at amortized cost = $127.3 million $776.1 ■ Unrealized loss on HTM portfolio =
Slide 34: Liquidity and Borrowing Availability
Liquidity and Borrowing Availability Liquidity ■ Liquid Assets1 = $210.4 million, or 6.64% of assets, as of June 30, 2025, with $216.4 million average for 2Q25 ■ Estimated cash flows from securities, assuming consistent prepayment rates ■ $50.0 million principal repayments from July 2025 to December
Slide 35: Capital
Capital ■ Well-capitalized position ■ Cash dividends ■ 1Q25 & 2Q25 - Paid a quarterly cash dividend of $0.12 per share, a 33% increase from $0.09 per share in 4Q24 ■ 3Q25 - Announced $0.15 per share cash dividend, a 25% increase from $0.12 per share in 2Q25, payable in September 2025 ■ Stock repurch
Slide 36: Stock Repurchase Activity
Stock Repurchase Activity Average Price Total Purchase (dollars in thousands, except per share data) # Shares per share Amount 2020 2,824 $ 43.20 $ 122 2021 153,553 $ 51.30 $ 7,878 2022 4,465 $ 48.82 $ 218 2023 101,298 $ 49.35 $ 4,999 2024 327,085 $ 50.51 $ 16,522 2025 (as of 8/7/25) 211,748 $ 52.74
Slide 37: Stockholders' Equity Trends
Stockholders’ Equity Trends Total Stockholders’ Equity $340.0 $335.4 (dollars in millions) $333.3 $324.3 $319.7 $320.0 $307.0 $303.9 $299.3 $300.0 $283.4 $282.0 $280.0 $276.6 $260.0 Q1 Q2 Q3 Q4 2023 2024 2025 Realized Stockholders’ Equity1 $400.0 (dollars in millions) $393.4 $389.7 $380.0 $380.0 $37
Slide 38: Profitability Trends
Profitability Trends Net Income Earnings Per Share (Diluted) (in thousands) $36,916 $5.13 $34,879 $4.86 $4.95 $34,235 $32,952 $4.51 $3.03 $20,548 2021 2022 2023 2024 2Q25 2021 2022 2023 2024 2Q25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Efficiency Ratio YTD Return on Average Assets YTD 59.39% 60.29% 56.39% 56.60% 56
Slide 39: Net Interest Margin Trend
Net Interest Margin Trend ■ NIM FTE increased 14 bps to 3.36% for 2Q25 ■ Improved yields on securities and loans, combined with lower deposit costs ■ NIM FTE has increased for the past 7 consecutive quarters 5.50% 5.41% 5.50% 5.33% 5.32% 5.34% 5.21% 5.26% 5.00% 4.65% 4.50% 4.26% 4.33% 4.33% 4.19% 4.
Slide 40: Net Interest Margin Update
Net Interest Margin Update Average Yield / Rate Basis Points 2Q25 1Q25 Increase (Decrease) Details New/renewed loan rates: 2Q25 7.14%, 1Q25 7.02% Loans 5.50% 5.41% 9 Floating rate loans = 18.0% of loans HFI Securities 2.71% 2.59% 12 Purchased $31.6 million at 5.21% Total interest-earning assets 4.74
Slide 41: Noninterest Income (2Q25 vs. 1Q25)
Noninterest Income (2Q25 vs. 1Q25) ■ Noninterest income decreased Noninterest Income $554,000 to $4.7 million for 2Q25 For the quarter ended June 30, 2025 (dollars in thousands) ■ Brokerage income decreased $336,000 to $989,000 for 2Q25 due to decreased investing activity by clients Other Income $27
Slide 42: Operating Expenses (2Q25 vs. 1Q25)
Operating Expenses (2Q25 vs. 1Q25) ■ Operating expenses increased $779,000 to $17.4 million for 2Q25 ■ Data processing expense increased $433,000 to $721,000 for 2Q25 ■ The first quarter of 2025 benefited from the receipt of a $447,000 periodic refund from our data processing center ■ Loan and depos
Slide 43: Strategic Outlook
Strategic Outlook ■ Continue building a strong, Louisiana-based, super-community bank by leveraging existing infrastructure and adding select new locations to support growth ■ Protect and build shareholder value and operate with high performing financial results ■ Maintain disciplined capital manage
Slide 44: Summary
Summary Well positioned for the future Solid profitability and increasing NIM Well capitalized. Increased cash dividend. Available stock buyback program Diversified loan portfolio with solid asset quality and a good loan pipeline Granular, diversified deposit portfolio Strong liquidity and borrowing
Slide 45: Appendix
Appendix ge RED RIVER BANCSHARES, INC.
Slide 46: Non-GAAP Reconciliation
Non-GAAP Reconciliation As of (dollars in thousands, except per share data) 6/30/25 3/31/25 6/30/24 Tangible common equity Total stockholders’ equity $ 335,350 $ 333,316 $ 306,990 Adjustments: Intangible assets (1,546) (1,546) (1,546) Total tangible common equity (non-GAAP) $ 333,804 $ 331,770 $ 305
Slide 47: Non-GAAP Reconciliation (continued)
Non-GAAP Reconciliation (continued) As of (dollars in thousands) 12/31/24 9/30/24 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 Realized common equity Total stockholders’ equity $ 319,739 $ 324,318 $ 299,314 $ 303,851 $ 281,951 $ 283,372 $ 276,640 Adjustments: Accumulated other comprehensive (income) los