1. It's like Bank of America, but exclusively for Louisiana.

2. It's Louisiana's main regional bank, similar to a single-state version of Truist.

• Deposit Accounts: Offers a variety of checking, savings, money market, and time deposit accounts for both commercial and retail customers.
• Commercial Lending: Provides loans for commercial real estate, construction and development, and general commercial and industrial needs, including SBA Paycheck Protection Program loans and tax-exempt loans.
• Retail Lending: Delivers one-to-four family mortgage loans, home equity lines of credit, and diverse consumer loans for personal and household purposes.
• Wealth Management & Advisory: Offers investment advisory, financial planning, private banking, and a suite of retirement plans.
• Treasury Management & Brokerage: Provides specialized treasury management services and brokerage options for businesses.
• Payment & Transaction Services: Facilitates transactions through debit and credit cards, direct deposits, cashier's checks, and wire transfer services.
• Digital & Remote Banking: Enables convenient banking with online and mobile access, including bill payment, transfers, and remote deposit capabilities.

Red River Bancshares (RRBI) serves a diverse customer base, primarily categorized as follows:

• Commercial Businesses: This category includes various businesses in Louisiana, ranging from small to large enterprises, that utilize the bank's commercial real estate loans, construction and development loans, commercial and industrial loans, small business administration (SBA) paycheck protection program loans, treasury management services, and general business banking products.
• Retail Individuals: This category encompasses individual customers seeking a range of personal banking services, including checking, savings, money market accounts, consumer loans for personal, family, and household purposes, one-to-four family mortgage loans, home equity lines of credit, private banking, investment advisory, and financial planning services.
• Governmental and Non-Profit Organizations: The company offers tax-exempt loans, indicating that it also serves various governmental entities and non-profit organizations within its operating regions in Louisiana.

R. Blake Chatelain – President, Chief Executive Officer, and Director

Isabel V. Carriere – Senior Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary

Bryon C. Salazar – Executive Vice President and Chief Banking Officer

Tammi R. Salazar – Executive Vice President and Chief Operating Officer

Julia E. Callis, J.D. – Senior Vice President, General Counsel, and Corporate Secretary

Key Risks to the Business

• Geographic Concentration Risk: Red River Bancshares, Inc. operates exclusively within Louisiana, with 27 banking centers and two combined loan and deposit production offices in the state. This geographic concentration exposes the company to significant risks associated with regional economic downturns, industry-specific challenges prevalent in Louisiana (such as the energy sector), and the potential impact of natural disasters like hurricanes. Any adverse economic or environmental event in Louisiana could disproportionately affect the bank's loan portfolio quality, deposit base, and overall financial performance.

• Credit Risk: As a bank holding company, Red River Bancshares is heavily involved in lending activities, offering a diverse portfolio of loans including commercial real estate, one-to-four family mortgages, construction and development loans, commercial and industrial loans, and consumer loans. The inherent risk in these operations is the potential for borrowers to default on their obligations, leading to loan losses. A downturn in the economic conditions within its primary operating region (Louisiana) could lead to an increase in non-performing loans and charge-offs, significantly impacting the bank's profitability and capital.

• Interest Rate Risk: Red River Bancshares' profitability, like that of other financial institutions, is significantly influenced by interest rate fluctuations. Changes in the general interest rate environment can affect the spread between the interest earned on its assets (primarily loans) and the interest paid on its liabilities (primarily deposits). A mismatch in the repricing characteristics of its assets and liabilities could lead to a compression of its net interest margin, thereby negatively impacting its net income.

The emergence and growth of digital-only banks (neobanks) pose a clear threat. These institutions operate without physical branches, leveraging technology to offer potentially lower fees, higher interest rates, and a more seamless digital experience. They directly challenge the traditional brick-and-mortar banking model employed by Red River Bancshares, which relies on a network of 27 physical banking centers and two combined loan and deposit production offices. This shift in consumer preference towards digital-first banking could erode Red River Bancshares' customer base, particularly among younger demographics and those who prioritize convenience and cost over in-person service.

The proliferation of specialized financial technology (Fintech) companies also presents a clear emerging threat. These companies focus on specific banking services, often providing them more efficiently, at lower costs, or with a superior user experience compared to traditional banks. Examples include online lenders that compete with Red River Bancshares' commercial, mortgage, and consumer loan portfolios; digital payment platforms that rival traditional transfer and payment services; and robo-advisors or commission-free trading apps that challenge its brokerage and investment advisory offerings. This unbundling of financial services by fintechs can lead to customer attrition in key revenue-generating areas for Red River Bancshares.

• Deposit Products (Checking, Savings, Money Market, Time Deposits): The total deposits held by banks in Louisiana amounted to $131 billion. More specifically, community banks in Louisiana held approximately $76.2 billion in deposits as of December 13, 2024. The market size for these products is for the region of Louisiana.


• Loan Products (Commercial Real Estate, Mortgage, Construction and Development, Commercial and Industrial, Small Business Administration Paycheck Protection Program, Tax-Exempt, Consumer Loans):
  • The overall Commercial Banking industry in Louisiana, which encompasses receiving deposits and issuing consumer, commercial, and industrial loans, had an estimated market size of $10.2 billion in 2026. This market size is for the region of Louisiana.
  • New home loans booked in Louisiana in 2024 totaled $7.2 billion. This market size is for the region of Louisiana.
  • Small business loans in Louisiana amounted to $10 billion. This market size is for the region of Louisiana.

Red River Bancshares (symbol: RRBI) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Strategic Market Expansion and Development of New Banking Centers: Red River Bancshares is actively pursuing a strategy to build a statewide presence by expanding its physical footprint and establishing new full-service banking centers in key Louisiana markets, including New Orleans and Lafayette. This expansion aims to serve broader communities and capitalize on opportunities arising from banking industry disruptions in these areas.
2. Growth in Loan and Deposit Portfolios: The company anticipates continued expansion of its loan portfolio, with a particular focus on commercial real estate and small business lending, alongside strong new originations and construction funding. Simultaneously, growth in its deposit base, including stable non-interest bearing deposits, is crucial for supporting asset expansion and overall financial health.
3. Net Interest Margin (NIM) Expansion and Improvement: Red River Bancshares has demonstrated a consistent trend of increasing its net interest margin, primarily by effectively repricing assets to achieve higher yields and carefully managing the cost of its deposits. This ongoing improvement in NIM is a significant factor contributing to growth in net interest income.
4. Enhanced Digital Banking Capabilities: Investments in and upgrades to the company's online and mobile banking platforms, along with improved bill payment services, are aimed at enhancing the customer experience and expanding digital service capabilities. These enhancements are expected to attract new customers and drive revenue by offering more convenient and efficient banking solutions.

Share Repurchases

• Red River Bancshares repurchased 211,748 shares of its common stock in 2025, including a privately-negotiated transaction on August 7, 2025, for 100,000 shares valued at $5.3 million.
• The company had an authorized stock repurchase program of up to $5.0 million for 2025, with approximately $4.3 million remaining as of August 7, 2025, indicating that $0.7 million had been utilized from this program prior to that date.
• On December 18, 2025, the board approved the renewal and increase of the stock repurchase program, authorizing purchases of up to $10.0 million from January 1, 2026, through December 31, 2026.

Share Issuance

• In October 2025, a prospectus supplement was filed detailing the resale of up to 928,557 shares of common stock by existing stockholders, which included the sale of 236,000 shares by S3 Dynamics, L.P.
• The number of outstanding shares for Red River Bancshares generally decreased from 7.22 million in 2021 to 6.61 million at the end of 2025 and 6.57 million as of February 27, 2026, suggesting that share repurchases have outweighed any new issuances by the company.

Outbound Investments

• Red River Bancshares explicitly pursues a strategy that includes "selective acquisitions" to support its organic growth and targeted expansion efforts in Louisiana markets such as New Orleans, Lafayette, and Lake Charles. However, no specific acquisition details or dollar amounts for outbound investments over the last 3-5 years are available in the provided information.

Capital Expenditures

• In the first quarter of 2025, the company completed upgrades to its online and mobile banking and bill payment services to enhance digital capabilities and customer experience.
• Red River Bancshares has been actively engaged in branch and market expansion, which includes opening a limited-purpose de novo office in Lafayette and initiating groundwork for a second full-service Acadiana center. The company's network grew to 28 banking centers and two loan and deposit production offices by December 31, 2025, reflecting continuous investment in physical infrastructure.
• Future capital expenditures include plans for constructing a new lending headquarters in Shreveport and a new full-service banking center in the Acadiana Market as part of ongoing organic expansion projects.