secwatch.observer — SEC 8-K summary
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Issuer:     RED RIVER BANCSHARES INC (RRBI)
CIK:        0001071236
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001071236-24-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1071236/000107123624000043/0001071236-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1071236/000107123624000043/rrbi-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001071236-24-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer