Red River Bancshares Q2 net income $8.0M ($1.16 EPS); net interest margin improves to 2.92%

RED RIVER BANCSHARES INC

2024-Q2 EPS reported $2.31

Net income of $8.0M, down 2.5% from Q1 2024 and 10.9% from Q2 2023; EPS flat at $1.16 vs Q1.
Net interest income rose 2.0% to $21.8M; net interest margin FTE improved 9 bps to 2.92%.
Deposits fell 1.1% to $2.72B, driven by seasonal tax outflows; loans held for investment slightly up to $2.05B.
Nonperforming assets were $3.2M (0.11% of assets); ACL ratio stable at 1.06% of loans.
Repurchased 16,220 shares for $764k; declared $0.09 quarterly dividend; new New Orleans branch opened.

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