Red River Bancshares Q1 net income $8.2M ($1.16 EPS), down 14.7% YoY; dividend increased to $0.09

RED RIVER BANCSHARES INC

2024-Q1 EPS reported $1.16

Net income $8.2M ($1.16 diluted EPS) vs $9.6M ($1.33 EPS) in Q1 2023, a 14.7% YoY decline; sequential net income essentially flat.
Net interest margin FTE 2.83%, up 1bp from prior quarter; loan yields improved but deposit costs rose 15bps to 1.70%.
Loans HFI grew $45.2M (2.3%) to $2.04B; deposits declined $56.0M (2.0%) to $2.75B due to seasonal public fund outflows.
Quarterly cash dividend increased to $0.09/share from $0.08; $10.0M stock buyback (200k shares) completed in March.
Nonrecurring items boosted pretax income by ~$800k including vendor rebate ($262k), data processing refund ($284k), and debit card contract termination fee ($145k).

item 2.02

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RED RIVER BANCSHARES INC reported the first quarter of 2024 results: net income $8.2 million, EPS $1.16 per diluted common share.

Period: the first quarter of 2024
Net income: $8.2 million
EPS: $1.16 per diluted common share
Result: reported results

Exact text from the filing

Net income for the first quarter of 2024 was $8.2 million, or $1.16 per diluted common share (“EPS”)

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Source: SEC EDGAR

accession 0001071236-24-000043

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