Form 8-K

8-K — RED RIVER BANCSHARES INC

Accession: 0001071236-26-000035

Filed: 2026-04-30

Period: 2026-04-30

CIK: 0001071236

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — rrbi-20260430.htm (Primary)

EX-99.1 (rrbiq12026exhibit991.htm)

GRAPHIC (bancshareslogoa.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: rrbi-20260430.htm · Sequence: 1

rrbi-20260430

0001071236false00010712362026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

April 30, 2026

Date of Report (Date of earliest event reported)

Red River Bancshares, Inc.

(Exact Name of Registrant as Specified in its Charter)

Louisiana

001-38888

72-1412058

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

1412 Centre Court Drive, Suite 301, Alexandria, Louisiana

71301

(Address of Principal Executive Offices)

(Zip Code)

(318) 561-4000

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange

on which registered

Common Stock, no par value RRBI The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item. 2.02 Results of Operations and Financial Condition.

On April 30, 2026, Red River Bancshares, Inc. (the “Company”) issued a press release announcing its unaudited financial results for the first quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item. 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following are furnished as exhibits to this Current Report on Form 8-K.

Exhibit

Number

Description of Exhibit

99.1

Press Release issued by Red River Bancshares, Inc., dated April 30, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 30, 2026

RED RIVER BANCSHARES, INC.

By: /s/ Isabel V. Carriere

Isabel V. Carriere, CPA, CGMA

Senior Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary

(Principal Financial Officer and Principal Accounting Officer)

EX-99.1

Filename: rrbiq12026exhibit991.htm · Sequence: 2

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Red River Bancshares, Inc. Reports First Quarter 2026 Financial Results

ALEXANDRIA, Louisiana, April 30, 2026 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the first quarter of 2026.

Net income for the first quarter of 2026 was $12.0 million, or $1.81 per diluted common share (“EPS”), compared to $11.4 million, or $1.73 EPS, for the fourth quarter of 2025, and $10.4 million, or $1.52 EPS, for the first quarter of 2025. For the first quarter of 2026, the quarterly return on assets was 1.44%, and the quarterly return on equity was 12.95%.

First Quarter 2026 Performance and Operational Highlights

The first quarter of 2026 financial results included record-high quarterly net income and a consistent balance sheet. We increased the quarterly cash dividend paid to shareholders by $0.10 per share, or 66.7%, to $0.25 per share for the first quarter of 2026, compared to $0.15 per share for the prior two quarters.

•Net income for the first quarter of 2026 was $12.0 million, up $556,000, or 4.9%, from the prior quarter. Net income for the first quarter was impacted by approximately $590,000 of periodic items that reduced operating expenses. These operating expense reductions benefited EPS by $0.07.

•Net interest income increased slightly, and net interest margin fully taxable equivalent (“FTE”) was consistent at 3.51% for the first quarter of 2026 and the prior quarter.

•Assets remained consistent at $3.35 billion as of March 31, 2026 and December 31, 2025.

•Loans held for investment (“HFI”) were $2.25 billion as of March 31, 2026 and December 31, 2025. In the first quarter of 2026, new loan originations and construction commitment fundings were offset by payments and payoffs.

•Deposits totaled $2.95 billion as of March 31, 2026, down $17.5 million, or 0.6%, from $2.96 billion as of December 31, 2025, primarily due to the seasonal outflow of funds from public entity customers exceeding increased commercial deposits.

•In the first quarter of 2026, we paid a quarterly cash dividend of $0.25 per common share, which was a 66.7% increase from $0.15 per common share paid in the third and fourth quarters of 2025.

•The 2026 stock repurchase program authorizes us to purchase up to $10.0 million of our outstanding shares of common stock from January 1, 2026 through December 31, 2026. There was no stock repurchase activity in the first quarter of 2026. As of March 31, 2026, the 2026 stock repurchase program had $10.0 million of available capacity.

•We continue to implement our organic expansion plan. The following construction projects are in process:

◦In the Northwest market, there are two projects in process with the goal of relocating personnel and vacating the Market Street location in Shreveport, Louisiana. In May 2026, we plan to relocate our Northwest market leadership and lenders to our newly constructed Shreveport Commercial and Private Banking Loan and Deposit Production Office Building, which is adjacent to our East Kings banking center. We then plan to relocate the Market Street retail banking center to the nearby American Towers building, which will have a more efficient cost structure.

◦In the New Orleans market, we have leased and are remodeling a portion of the bottom floor of the Energy Centre Building on Poydras Street. Completion is expected in the third quarter of 2026. Once complete, we plan to relocate the Baronne Street retail banking center and the New Orleans market leadership and lenders to this updated, convenient, and visible location.

◦In the Acadiana market, we held a ground-breaking ceremony in January 2026 for our second full-service banking center in this market, located on Camellia Boulevard in Lafayette, Louisiana. We expect this location to open early in 2027.

•In the first quarter of 2026, S&P Global Market Intelligence ranked the Bank 42nd of the top 50 best deposit franchises in 2025 for banks with assets between $3.0 and $10.0 billion.

•On April 6, 2026, Jim Nelson was appointed as Market President for the New Orleans market.

Blake Chatelain, President and Chief Executive Officer, stated, “We are pleased to report another strong quarter of financial results to start 2026. As a result of our consistent earnings and strong capital levels, the board of directors approved a 66.7% increase to the quarterly cash dividend for the first quarter of 2026 to $0.25 per share.

“Net income and EPS in the first quarter of 2026 were at record-high levels and benefited from periodic rebates and refunds from vendors. We continue to remain focused on managing the net interest margin FTE, which remained steady at 3.51% between the first quarter of 2026 and the prior quarter.

“In the second half of 2025, we experienced strong loan growth. In the first quarter of 2026, loans were consistent with the prior quarter; however, based on loan pipeline activity, we are expecting loan growth to resume during the remainder of the year. Deposit activity was solid in the first quarter of 2026, and the slight decrease in deposits was a result of the seasonal outflows of public funds that occur every year.

“We remain focused on our organic growth strategy. We are relocating several locations, building a new banking center, and constantly recruiting new bankers to join the Red River Bank team. We are very pleased to announce Jim Nelson as the New Orleans market president. Jim is a dynamic leader with deep ties to the New Orleans market. His experience, vision, and dedication to clients and the community make him the ideal choice to lead the New Orleans market for Red River Bank.

“As we move through 2026, we are well-positioned for continued progress and success. However, the world events in March 2026 remind us of how quickly situations can change. We are watching the situation in Iran and around the world closely. These actions certainly have the potential to impact the environment for all banks, businesses, and individuals. Uncertainty related to these events are impacting the United States and global economies. Increasing oil, gas, and energy prices are impacting inflation and could influence future interest rates. The 2026 forecast is challenging to predict; therefore, we remain positive, yet vigilant, as we monitor our communities and stay close to our customers. As always, we remain committed to serving our customers, growing, and providing steady financial results for our shareholders.”

Net Interest Income and Net Interest Margin FTE

Net interest income for the first quarter of 2026 was $28.4 million, slightly higher than the fourth quarter of 2025, despite the first quarter having two fewer accrual days. Net interest margin FTE was 3.51% for the first quarter of 2026, which was consistent with the prior quarter. Average loan balances increased slightly with no change in total loan yield. For the first quarter of 2026, the average rate on new and renewed loans was 6.71%. While the balance of average short-term liquid assets increased, the yield decreased due to the reduction of the target federal funds rate in December. Interest expense was impacted by a 3 basis point (“bp(s)”) decrease to the cost of deposits as we lowered selected deposit rates, partially offset by higher average deposit balances.

In the second half of 2025, the Federal Open Market Committee (“FOMC”) reduced the federal funds rate by 75 bps, resulting in a range of 3.50%-3.75%, which remained throughout the first quarter of 2026. The market’s expectation is that the federal funds range may remain consistent in 2026. During the remainder of 2026, we project $201.4 million of fixed rate loans at 5.87% to mature, which we expect to redeploy into loans with slightly higher rates. We have $463.8 million of floating rate loans at 6.16%, which we expect to remain at a consistent rate. We also expect to receive $90.9 million in securities cash flows at 3.66%, which we plan to redeploy into securities at higher yields. We project $515.0 million in time deposits at 3.50% to mature, with the opportunity to reprice slightly lower. Depending on balance sheet activity and interest rate competition, we expect net interest income and net interest margin FTE to increase slightly in the second quarter of 2026.

Noninterest Income

Noninterest income totaled $4.5 million for the first quarter of 2026, down $416,000, or 8.4%, from the previous quarter.

Other income was $83,000 for the first quarter of 2026, down $106,000, or 56.1%, from the previous quarter. The fourth quarter of 2025 included $127,000 of nonrecurring JAM FINTOP Banktech, L.P. fund partnership income, following the sale of an investment and subsequent distribution. Similar income was not recognized in the first quarter of 2026.

The Small Business Investment Company (“SBIC”) partnerships reported a loss of $105,000 in the first quarter of 2026, compared to a loss of $197,000 in the previous quarter. These losses were mainly due to fund value adjustments as an SBIC fund continues its wind-down phase. We expect SBIC income to fluctuate in future quarters.

Operating Expenses

Operating expenses totaled $17.3 million for the first quarter of 2026, down $1.0 million, or 5.5%, from the previous quarter.

Personnel expenses totaled $10.5 million for the first quarter of 2026, down $437,000, or 4.0%, from the previous quarter. This decrease was primarily due to lower personnel-related accruals and lower revenue-based commissions. We had 375 total employees as of March 31, 2026 and December 31, 2025.

Data processing expenses totaled $377,000 for the first quarter of 2026, down $336,000, or 47.1%, from the previous quarter. This decrease was mainly attributable to receipt of a $389,000 periodic refund from our data processing center in the first quarter of 2026.

Loan and deposit expenses totaled $103,000 for the first quarter of 2026, down $212,000, or 67.3%, from the previous quarter. This decrease was primarily attributable to receipt of a $201,000 negotiated, variable rebate from a vendor in the first quarter of 2026.

Other taxes totaled $560,000 for the first quarter of 2026, down $23,000, or 3.9%, from the previous quarter. In 2025, Louisiana corporate income tax rates were lowered. In order for financial institutions to be included in this benefit, the State of Louisiana bank stock tax calculation was adjusted effective 2026, which resulted in other taxes being lower in the first quarter of 2026.

Loans

Loans HFI were $2.25 billion as of March 31, 2026 and December 31, 2025. In the first quarter of 2026, new loan originations and construction commitment fundings were offset by payments and payoffs. As of March 31, 2026, we had $111.8 million of unfunded construction loan commitments, which we expect to fund over time.

Loans HFI by Category

March 31, 2026 December 31, 2025 Change from

December 31, 2025 to

March 31, 2026

(dollars in thousands) Amount Percent Amount Percent $ Change % Change

Real estate:

Commercial real estate $ 910,965 40.4 % $ 920,294 40.9 % $ (9,329) (1.0 %)

One-to-four family residential 632,554 28.1 % 628,762 28.0 % 3,792 0.6 %

Construction and development 240,686 10.7 % 221,214 9.8 % 19,472 8.8 %

Commercial and industrial 391,611 17.4 % 392,824 17.5 % (1,213) (0.3 %)

Tax-exempt 52,779 2.3 % 57,541 2.6 % (4,762) (8.3 %)

Consumer 25,951 1.1 % 28,034 1.2 % (2,083) (7.4 %)

Total loans HFI $ 2,254,546 100.0 % $ 2,248,669 100.0 % $ 5,877 0.3 %

Asset Quality and Allowance for Credit Losses

Nonperforming assets (“NPA(s)”) totaled $4.3 million as of March 31, 2026, an increase of $728,000, or 20.6%, from December 31, 2025, primarily due to an increase in nonaccrual loans and other real estate owned, partially offset by a decrease in past due loans. The ratio of NPAs to assets was 0.13% and 0.11% as of March 31, 2026 and December 31, 2025, respectively.

The provision for credit losses was $750,000 for the first quarter of 2026 and the prior quarter. As of March 31, 2026, the ACL was $24.1 million. The ratio of ACL to loans HFI was 1.07% as of March 31, 2026 and 1.04% as of December 31, 2025. The net charge-offs to average loans ratio was 0.00% for the first quarter of 2026 and 0.01% for the fourth quarter of 2025.

Deposits

As of March 31, 2026, deposits were $2.95 billion, a decrease of $17.5 million, or 0.6%, compared to December 31, 2025. The decrease in deposits for the first quarter of 2026 was primarily due to the seasonal outflow of funds from public entity customers exceeding increased commercial deposits.

Deposits by Account Type

March 31, 2026 December 31, 2025 Change from

December 31, 2025 to

March 31, 2026

(dollars in thousands) Balance % of Total Balance % of Total $ Change % Change

Noninterest-bearing demand deposits $ 916,413 31.1 % $ 913,868 30.8 % $ 2,545 0.3 %

Interest-bearing deposits:

Interest-bearing demand deposits 189,993 6.4 % 198,724 6.7 % (8,731) (4.4 %)

NOW accounts 465,146 15.8 % 490,376 16.5 % (25,230) (5.1 %)

Money market accounts 590,107 20.0 % 580,949 19.6 % 9,158 1.6 %

Savings accounts 174,393 5.9 % 168,889 5.7 % 5,504 3.3 %

Time deposits less than or equal to $250,000 405,281 13.8 % 407,539 13.8 % (2,258) (0.6 %)

Time deposits greater than $250,000 204,602 7.0 % 203,067 6.9 % 1,535 0.8 %

Total interest-bearing deposits 2,029,522 68.9 % 2,049,544 69.2 % (20,022) (1.0 %)

Total deposits $ 2,945,935 100.0 % $ 2,963,412 100.0 % $ (17,477) (0.6 %)

Deposits by Customer Type

March 31, 2026 December 31, 2025 Change from

December 31, 2025 to

March 31, 2026

(dollars in thousands) Balance % of Total Balance % of Total $ Change % Change

Consumer $ 1,409,126 47.8 % $ 1,397,775 47.2 % $ 11,351 0.8 %

Commercial 1,296,580 44.0 % 1,270,069 42.8 % 26,511 2.1 %

Public 240,229 8.2 % 295,568 10.0 % (55,339) (18.7 %)

Total deposits $ 2,945,935 100.0 % $ 2,963,412 100.0 % $ (17,477) (0.6 %)

Stockholders’ Equity

Total stockholders’ equity as of March 31, 2026, was $373.3 million, compared to $365.2 million as of December 31, 2025. The $8.2 million, or 2.2%, increase in stockholders’ equity during the first quarter of 2026 was attributable to $12.0 million of net income and $160,000 of stock compensation, partially offset by a $2.3 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities and $1.6 million in cash dividends related to a $0.25 per share cash dividend that we paid on March 19, 2026.

Non-GAAP Disclosure

Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.

Management and the board of directors review total tangible common equity, total realized common equity, total tangible assets, tangible book value per share, realized book value per share, and tangible common equity to tangible assets as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how such other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.

A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.

About Red River Bancshares, Inc.

Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of our commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and two combined loan and deposit production offices, one each in New Orleans, Louisiana and Lafayette, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes the Slidell-Mandeville-Covington MSA; Acadiana, which includes the Lafayette MSA; and New Orleans, which includes the New Orleans-Metairie MSA.

Forward-Looking Statements

Statements in this news release 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 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.

Contact:

Isabel V. Carriere, CPA, CGMA

Senior Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary

318-561-4023

icarriere@redriverbank.net

FINANCIAL HIGHLIGHTS (UNAUDITED)

As of and for the

Three Months Ended

(dollars in thousands, except per share data) March 31,

2026 December 31,

2025 March 31,

2025

Net Income $ 11,971 $ 11,415 $ 10,352

Per Common Share Data:

Earnings per share, basic $ 1.82 $ 1.74 $ 1.53

Earnings per share, diluted $ 1.81 $ 1.73 $ 1.52

Book value per share $ 56.76 $ 55.52 $ 49.18

Tangible book value per share(1)

$ 56.53 $ 55.29 $ 48.95

Realized book value per share(1)

$ 63.70 $ 62.11 $ 57.49

Cash dividends per share $ 0.25 $ 0.15 $ 0.12

Shares outstanding 6,577,186 6,576,609 6,777,657

Weighted average shares outstanding, basic 6,576,994 6,576,609 6,777,332

Weighted average shares outstanding, diluted 6,609,208 6,604,082 6,796,707

Summary Performance Ratios:

Return on average assets 1.44 % 1.38 % 1.32 %

Return on average equity 12.95 % 12.60 % 12.85 %

Net interest margin 3.47 % 3.46 % 3.17 %

Net interest margin FTE 3.51 % 3.51 % 3.22 %

Efficiency ratio 52.37 % 54.99 % 55.51 %

Loans HFI to deposits ratio 76.53 % 75.88 % 74.84 %

Noninterest-bearing deposits to deposits ratio 31.11 % 30.84 % 32.08 %

Noninterest income to average assets 0.55 % 0.60 % 0.67 %

Operating expense to average assets 2.08 % 2.20 % 2.12 %

Summary Credit Quality Ratios:

NPAs to assets 0.13 % 0.11 % 0.16 %

Nonperforming loans to loans HFI 0.18 % 0.16 % 0.24 %

ACL to loans HFI 1.07 % 1.04 % 1.03 %

Net charge-offs to average loans 0.00 % 0.01 % 0.02 %

Capital Ratios:

Stockholders’ equity to assets 11.16 % 10.90 % 10.46 %

Tangible common equity to tangible assets(1)

11.11 % 10.86 % 10.42 %

Total risk-based capital to risk-weighted assets 18.51 % 18.03 % 18.25 %

Tier I risk-based capital to risk-weighted assets 17.47 % 17.02 % 17.25 %

Common equity Tier I capital to risk-weighted assets 17.47 % 17.02 % 17.25 %

Tier I risk-based capital to average assets 12.26 % 12.21 % 12.01 %

(1)Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.

RED RIVER BANCSHARES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands) March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

ASSETS

Cash and due from banks $ 36,677 $ 25,685 $ 33,651 $ 42,453 $ 36,438

Interest-bearing deposits in other banks 173,845 187,707 127,404 167,989 215,717

Securities available-for-sale, at fair value 638,729 647,310 636,679 566,981 566,874

Securities held-to-maturity, at amortized cost 120,609 122,619 124,853 127,305 129,686

Equity securities, at fair value 3,012 3,031 3,019 2,990 2,981

Nonmarketable equity securities 2,425 2,407 2,387 2,368 2,349

Loans held for sale 3,951 3,148 3,260 4,711 2,178

Loans held for investment 2,254,546 2,248,669 2,173,073 2,138,580 2,114,742

Allowance for credit losses (24,051) (23,399) (22,801) (22,222) (21,835)

Premises and equipment, net 60,516 59,270 58,573 58,622 59,034

Accrued interest receivable 11,352 11,131 10,281 10,027 10,553

Bank-owned life insurance 31,488 31,267 31,041 30,817 30,593

Intangible assets 1,546 1,546 1,546 1,546 1,546

Right-of-use assets 1,407 1,487 1,564 2,489 2,611

Other assets 30,548 29,032 29,833 33,436 32,965

Total Assets $ 3,346,600 $ 3,350,910 $ 3,214,363 $ 3,168,092 $ 3,186,432

LIABILITIES

Noninterest-bearing deposits $ 916,413 $ 913,868 $ 918,974 $ 897,997 $ 906,540

Interest-bearing deposits 2,029,522 2,049,544 1,919,809 1,912,608 1,919,136

Total Deposits 2,945,935 2,963,412 2,838,783 2,810,605 2,825,676

Accrued interest payable 6,025 6,128 6,681 6,242 6,463

Lease liabilities 1,465 1,544 1,623 2,613 2,739

Accrued expenses and other liabilities 19,849 14,676 15,965 13,282 18,238

Total Liabilities 2,973,274 2,985,760 2,863,052 2,832,742 2,853,116

COMMITMENTS AND CONTINGENCIES — — — — —

STOCKHOLDERS’ EQUITY

Preferred stock, no par value — — — — —

Common stock, no par value 27,591 27,543 27,543 32,896 38,710

Additional paid-in capital 3,329 3,217 3,105 2,992 2,871

Retained earnings 388,058 377,731 367,302 357,488 348,093

Accumulated other comprehensive income (loss) (45,652) (43,341) (46,639) (58,026) (56,358)

Total Stockholders’ Equity 373,326 365,150 351,311 335,350 333,316

Total Liabilities and Stockholders’ Equity $ 3,346,600 $ 3,350,910 $ 3,214,363 $ 3,168,092 $ 3,186,432

RED RIVER BANCSHARES, INC.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

For the Three Months Ended

(in thousands) March 31,

2026 December 31,

2025 March 31,

2025

INTEREST AND DIVIDEND INCOME

Interest and fees on loans $ 31,545 $ 31,664 $ 28,270

Interest on securities 5,844 5,873 4,856

Interest on deposits in other banks 1,737 1,642 2,661

Dividends on stock 19 20 21

Total Interest and Dividend Income 39,145 39,199 35,808

INTEREST EXPENSE

Interest on deposits 10,741 10,958 11,198

Total Interest Expense 10,741 10,958 11,198

Net Interest Income 28,404 28,241 24,610

Provision for credit losses 750 750 450

Net Interest Income After Provision for Credit Losses 27,654 27,491 24,160

NONINTEREST INCOME

Service charges on deposit accounts 1,395 1,430 1,383

Debit card income, net 916 898 992

Mortgage loan income 605 649 530

Brokerage income 939 1,287 1,325

Loan and deposit income 498 454 459

Bank-owned life insurance income 221 226 213

Gain (Loss) on equity securities (19) 13 44

SBIC income (loss) (105) (197) 280

Other income (loss) 83 189 46

Total Noninterest Income 4,533 4,949 5,272

OPERATING EXPENSES

Personnel expenses 10,517 10,954 10,023

Occupancy and equipment expenses 1,884 1,749 1,794

Technology expenses 863 893 835

Advertising 328 324 333

Other business development expenses 550 584 558

Data processing expense 377 713 288

Other taxes 560 583 612

Loan and deposit expenses 103 315 62

Legal and professional expenses 529 550 632

Regulatory assessment expenses 417 439 391

Other operating expenses 1,122 1,147 1,060

Total Operating Expenses 17,250 18,251 16,588

Income Before Income Tax Expense 14,937 14,189 12,844

Income tax expense 2,966 2,774 2,492

Net Income $ 11,971 $ 11,415 $ 10,352

RED RIVER BANCSHARES, INC.

NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)

For the Three Months Ended

March 31, 2026 December 31, 2025

(dollars in thousands) Average Balance Outstanding Interest

Income/

Expense Average

Yield/

Rate Average Balance Outstanding Interest

Income/

Expense Average

Yield/

Rate

Assets

Interest-earning assets:

Loans(1,2)

$ 2,255,394 $ 31,545 5.60 % $ 2,214,161 $ 31,664 5.60 %

Securities - taxable 629,550 4,872 3.10 % 625,220 4,900 3.13 %

Securities - tax-exempt 182,996 972 2.12 % 183,911 973 2.12 %

Interest-bearing deposits in other banks 191,843 1,737 3.62 % 166,797 1,642 3.85 %

Nonmarketable equity securities 2,409 19 3.10 % 2,389 20 3.34 %

Total interest-earning assets 3,262,192 $ 39,145 4.80 % 3,192,478 $ 39,199 4.82 %

Allowance for credit losses (23,647) (23,037)

Noninterest-earning assets 127,068 120,146

Total assets $ 3,365,613 $ 3,289,587

Liabilities and Stockholders’ Equity

Interest-bearing liabilities:

Interest-bearing transaction deposits $ 1,440,118 $ 5,558 1.57 % $ 1,348,461 $ 5,527 1.63 %

Time deposits 607,964 5,183 3.46 % 608,448 5,431 3.54 %

Total interest-bearing deposits 2,048,082 10,741 2.13 % 1,956,909 10,958 2.22 %

Other borrowings — — — % — — — %

Total interest-bearing liabilities 2,048,082 $ 10,741 2.13 % 1,956,909 $ 10,958 2.22 %

Noninterest-bearing liabilities:

Noninterest-bearing deposits 917,623 947,506

Accrued interest and other liabilities 24,986 25,770

Total noninterest-bearing liabilities 942,609 973,276

Stockholders’ equity 374,922 359,402

Total liabilities and stockholders’ equity $ 3,365,613 $ 3,289,587

Net interest income $ 28,404 $ 28,241

Net interest spread 2.67 % 2.60 %

Net interest margin 3.47 % 3.46 %

Net interest margin FTE(3)

3.51 % 3.51 %

Cost of deposits 1.47 % 1.50 %

Cost of funds 1.34 % 1.36 %

(1)Includes average outstanding balances of loans held for sale of $2.7 million and $3.3 million for the three months ended March 31, 2026 and December 31, 2025, respectively.

(2)Nonaccrual loans are included as loans carrying a zero yield.

(3)Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

RED RIVER BANCSHARES, INC.

NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)

For the Three Months Ended

March 31, 2026 March 31, 2025

(dollars in thousands) Average Balance Outstanding Interest

Income/

Expense Average

Yield/

Rate Average Balance Outstanding Interest

Income/

Expense Average

Yield/

Rate

Assets

Interest-earning assets:

Loans(1,2)

$ 2,255,394 $ 31,545 5.60 % $ 2,089,712 $ 28,270 5.41 %

Securities - taxable 629,550 4,872 3.10 % 559,752 3,871 2.77 %

Securities - tax-exempt 182,996 972 2.12 % 189,729 985 2.08 %

Interest-bearing deposits in other banks 191,843 1,737 3.62 % 243,751 2,661 4.37 %

Nonmarketable equity securities 2,409 19 3.10 % 2,330 21 3.56 %

Total interest-earning assets 3,262,192 $ 39,145 4.80 % 3,085,274 $ 35,808 4.64 %

Allowance for credit losses (23,647) (21,789)

Noninterest-earning assets 127,068 107,295

Total assets $ 3,365,613 $ 3,170,780

Liabilities and Stockholders’ Equity

Interest-bearing liabilities:

Interest-bearing transaction deposits $ 1,440,118 $ 5,558 1.57 % $ 1,341,885 $ 5,641 1.70 %

Time deposits 607,964 5,183 3.46 % 592,368 5,557 3.80 %

Total interest-bearing deposits 2,048,082 10,741 2.13 % 1,934,253 11,198 2.35 %

Other borrowings — — — % — — — %

Total interest-bearing liabilities 2,048,082 $ 10,741 2.13 % 1,934,253 $ 11,198 2.35 %

Noninterest-bearing liabilities:

Noninterest-bearing deposits 917,623 884,484

Accrued interest and other liabilities 24,986 25,336

Total noninterest-bearing liabilities 942,609 909,820

Stockholders’ equity 374,922 326,707

Total liabilities and stockholders’ equity $ 3,365,613 $ 3,170,780

Net interest income $ 28,404 $ 24,610

Net interest spread 2.67 % 2.29 %

Net interest margin 3.47 % 3.17 %

Net interest margin FTE(3)

3.51 % 3.22 %

Cost of deposits 1.47 % 1.61 %

Cost of funds 1.34 % 1.47 %

(1)Includes average outstanding balances of loans held for sale of $2.7 million and $2.6 million for the three months ended March 31, 2026 and 2025, respectively.

(2)Nonaccrual loans are included as loans carrying a zero yield.

(3)Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(dollars in thousands, except per share data) March 31,

2026 December 31,

2025 March 31,

2025

Tangible common equity

Total stockholders’ equity $ 373,326 $ 365,150 $ 333,316

Adjustments:

Intangible assets (1,546) (1,546) (1,546)

Total tangible common equity (non-GAAP) $ 371,780 $ 363,604 $ 331,770

Realized common equity

Total stockholders’ equity $ 373,326 $ 365,150 $ 333,316

Adjustments:

Accumulated other comprehensive (income) loss 45,652 43,341 56,358

Total realized common equity (non-GAAP) $ 418,978 $ 408,491 $ 389,674

Common shares outstanding 6,577,186 6,576,609 6,777,657

Book value per share $ 56.76 $ 55.52 $ 49.18

Tangible book value per share (non-GAAP) $ 56.53 $ 55.29 $ 48.95

Realized book value per share (non-GAAP) $ 63.70 $ 62.11 $ 57.49

Tangible assets

Total assets $ 3,346,600 $ 3,350,910 $ 3,186,432

Adjustments:

Intangible assets (1,546) (1,546) (1,546)

Total tangible assets (non-GAAP) $ 3,345,054 $ 3,349,364 $ 3,184,886

Total stockholders’ equity to assets 11.16 % 10.90 % 10.46 %

Tangible common equity to tangible assets (non-GAAP) 11.11 % 10.86 % 10.42 %

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