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

ALEXANDRIA, La., July 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 second quarter of 2026.

Net income for the second quarter of 2026 was $11.8 million, or $1.78 per diluted common share (“EPS”), a decrease of $208,000 or 1.7%, compared to $12.0 million, or $1.81 EPS, for the first quarter of 2026, and an increase of $1.6 million, or 15.4%, compared to $10.2 million, or $1.51 EPS, for the second quarter of 2025. For the second quarter of 2026, the quarterly return on assets was 1.43%, and the quarterly return on equity was 12.41%.

Net income for the six months ended June 30, 2026, was $23.7 million, or $3.59 EPS, an increase of $3.2 million, or 15.5%, compared to $20.5 million, or $3.03 EPS, for the six months ended June 30, 2025. For the six months ended June 30, 2026, the return on assets was 1.44%, and the return on equity was 12.68%.

Second Quarter 2026 Performance and Operational Highlights

The second quarter of 2026 financial results included an improved net interest margin and net interest income, as well as slightly lower assets and net income. We completed our Northwest market expansion and banking center relocation project. Also, one of our founding directors retired, and we welcomed two new directors to our board.

Net income for the second quarter of 2026 was $11.8 million, down $208,000, or 1.7%, from the prior quarter. Net income for the second quarter was impacted by an expected $1.0 million increase in operating expenses, partially offset by a $563,000 increase in net interest income. Net income for the first quarter of 2026 benefited from approximately $590,000 of periodic items that reduced operating expenses.
Net interest income increased $563,000, or 2.0%, and net interest margin fully taxable equivalent (“FTE”) increased 10 basis points (“bp(s)”) to 3.61% for the second quarter of 2026, compared to 3.51% for the prior quarter.
As of June 30, 2026, assets were $3.31 billion, down $35.3 million, or 1.1%, from $3.35 billion as of March 31, 2026, as a result of a $40.9 million decrease in deposits.
Deposits totaled $2.91 billion as of June 30, 2026, down $40.9 million, or 1.4%, from $2.95 billion as of March 31, 2026. This decrease was primarily due to the seasonal outflow of funds from customer income tax payments, along with fluctuations in lawyer trust accounts due to the timing of legal settlements.
As of June 30, 2026, loans held for investment (“HFI”) were $2.26 billion, up slightly from $2.25 billion as of March 31, 2026. In the second quarter of 2026, new loan originations and construction commitment fundings exceeded payments and payoffs.
In the second quarter of 2026, nonperforming assets (“NPA(s)”) decreased $1.6 million, or 38.3%, to $2.6 million, or 0.08% of assets, as of June 30, 2026. This improvement was due to the successful resolution of problem loans, which resulted in the receipt of $180,000 of related interest income and collection expense reimbursements.
We paid a quarterly cash dividend of $0.25 per common share in the second quarter of 2026.
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 half of 2026. As of June 30, 2026, the 2026 stock repurchase program had $10.0 million of available capacity.
We continued to implement our organic expansion plan with the following projects:
- In the Northwest market, we completed our relocation projects. In May 2026, we relocated our Northwest market leadership and lenders to our newly constructed Shreveport Commercial and Private Banking Loan and Deposit Production Office, which is adjacent to our East Kings banking center. We also relocated the Market Street banking center, serving our retail customers, to the nearby American Tower building, which has a more efficient cost structure.
- In the New Orleans market, we recently completed remodeling a portion of the ground floor of the Energy Centre Building on Poydras Street. On July 20, 2026, we relocated 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, construction is in process on 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 May 2026, there were changes to the boards of directors of the Company and the Bank. Founding board member Kirk D. Cooper retired, and A. Peyton Bush, IV and R. Chance DeWitt, M.D. were appointed as new directors of both the Company and the Bank.
In June 2026, RRBI was added to the State Street SPDR S&P Regional Banking ETF (ticker: “KRE”) as part of its quarterly fund rebalance.

Blake Chatelain, President and Chief Executive Officer, stated, “The second quarter of 2026 was one of solid, consistent performance driven by net interest margin expansion and a consistent balance sheet. As expected, net income and EPS in the second quarter of 2026 were slightly lower than the prior quarter, which had benefited from periodic rebates and refunds from vendors.

“We are pleased with the 10 bp expansion to the net interest margin FTE to 3.61% as we repriced loans at higher yields and had a lower cost of deposits. Our balance sheet is well positioned for a ‘higher for longer’ interest rate environment, though the interest rate outlook remains challenging to predict due to geopolitical tensions and uncertainty regarding energy prices. We are encouraged to see Chairman Warsh, the new chair of the Federal Reserve, commit to bring inflation under control, as inflation and high costs continue to be a burden for families and businesses.

“In the second quarter of 2026, loan growth was partially offset by loan payoffs with the sale of businesses, along with large commercial real estate projects transitioning to permanent financing in the secondary market. Based on our current loan pipeline activity and levels, we anticipate higher loan growth in the second half of 2026.

“We have been very busy with our organic expansion plan. In May 2026, we completed the Northwest market relocation projects. Our new Northwest market loan and deposit production office is conveniently located next to our East Kings banking center, and is more accessible for our customers and efficient for our employees. In July 2026, in the New Orleans market, we were pleased to relocate our leadership, lending, and banking center teams together into the Energy Centre Building. This consolidation will allow us to improve our customer service by providing all banking services from one location.

“I want to thank Kirk Cooper, a founding board member, for serving as a director and congratulate him on his retirement. Over the past 27 years, Kirk has served as an insightful and dedicated leader, providing guidance and support to the Company. On behalf of the entire board and management, we wish him the very best in retirement. We welcome Peyton Bush and Dr. Chance DeWitt to the boards and look forward to their future guidance and involvement. Peyton is a lifelong resident of New Orleans and has extensive financial knowledge and expertise. Chance is originally from Alexandria and now lives and practices medicine in Lafayette.

“As we enter the second half of 2026, we are focused on expanding the Red River Bank banking center network and team, evaluating expansion opportunities, providing personalized banking services to our customers, and welcoming new banking relationships. We are well positioned to provide solid profitability and returns for our shareholders.”

Net Interest Income and Net Interest Margin FTE

Net interest income for the second quarter of 2026 was $29.0 million, which was $563,000, or 2.0%, higher than the first quarter of 2026 and benefited from one more accrual day. Net interest margin FTE was 3.61% for the second quarter of 2026, which was 10 bps higher than the prior quarter. These improvements were primarily driven by higher loan yields and a lower cost of deposits. Interest income on loans increased $689,000 due to higher loan yields, and included $98,000 of additional interest income resulting from the successful resolution of nonaccrual loans in the second quarter. For the second quarter of 2026, the average rate on new and renewed loans was 6.38%. Interest expense decreased by $385,000 primarily due to lower average interest-bearing deposit balances, which resulted in a 4 bp decrease in the cost of deposits.

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 half of 2026. Due to uncertainty regarding the forecasted interest rate environment, we are modeling a consistent federal funds range for the second half of 2026. During the remainder of 2026, we project $157.4 million of fixed rate loans at 5.91% to mature, which we expect to redeploy into loans with slightly higher rates. We have $489.1 million of floating rate loans at 6.14%, which we expect to remain at a consistent rate. We also expect to receive $56.8 million in securities cash flows at 3.69%, for which we are currently evaluating reinvestment options as we consider balance sheet management strategies. We project $449.6 million in time deposits at 3.44% 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 half of 2026.

Noninterest Income

Noninterest income totaled $4.7 million for the second quarter of 2026, up $205,000, or 4.5%, from the previous quarter.

Mortgage loan income was $928,000 for the second quarter of 2026, up $323,000, or 53.4%, from the previous quarter due to increased purchase activity.

Debit card income, net, was $1.1 million for the second quarter of 2026, up $151,000, or 16.5%, from the previous quarter. This increase was mainly due to higher debit card activity and receipt of a $63,000 periodic refund from our debit card provider in the second quarter of 2026.

The Small Business Investment Company (“SBIC”) partnerships reported a loss of $291,000 in the second quarter of 2026, compared to a loss of $105,000 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 or loss to fluctuate in future quarters.

Operating Expenses

Operating expenses totaled $18.3 million for the second quarter of 2026, up $1.0 million, or 6.0%, from the previous quarter.

Data processing expense totaled $758,000 for the second quarter of 2026, up $381,000, or 101.1%, from the previous quarter. The first quarter of 2026 benefited from the receipt of a $389,000 periodic refund from our data processing center.

Personnel expenses totaled $10.7 million for the second quarter of 2026, up $194,000, or 1.8%, from the previous quarter. This increase was primarily due to annual raises effective April 2026 and an increase in headcount. As of June 30, 2026 and March 31, 2026, we had 381 and 375 total employees, respectively.

Loan and deposit expenses totaled $242,000 for the second quarter of 2026, up $139,000, or 135.0%, from the previous quarter. The second quarter of 2026 benefited from reimbursement of $82,000 of collection expenses due to the successful resolution of nonaccrual loans. The first quarter of 2026 benefited from receipt of a $201,000 negotiated, variable rebate from a vendor.

Occupancy and equipment expenses totaled $1.9 million for the second quarter of 2026, up $51,000, or 2.7%, from the previous quarter. This increase was primarily due to $78,000 of nonrecurring expenses related to our newly constructed Shreveport Commercial and Private Banking Loan and Deposit Production Office, as well as the relocation of a banking center, both in the Northwest market.

Loans

Loans HFI were $2.26 billion as of June 30, 2026 and $2.25 billion as of March 31, 2026. In the second quarter of 2026, new loan originations and construction commitment fundings exceeded payments and payoffs. As of June 30, 2026, we had $93.5 million of unfunded construction loan commitments, which we expect to fund over time.


Loans HFI by Category
	June 30, 2026				March 31, 2026				Change from March 31, 2026 to June 30, 2026
(dollars in thousands)	Amount		Percent		Amount		Percent		$ Change			% Change
Real estate:
Commercial real estate	$	914,002	40.4	%	$	910,965	40.4	%	$	3,037		0.3	%
One-to-four family residential		637,566	28.2	%		632,554	28.1	%		5,012		0.8	%
Construction and development		234,190	10.3	%		240,686	10.7	%		(6,496	)	(2.7	%)
Commercial and industrial		399,933	17.7	%		391,611	17.4	%		8,322		2.1	%
Tax-exempt		51,539	2.3	%		52,779	2.3	%		(1,240	)	(2.3	%)
Consumer		26,750	1.1	%		25,951	1.1	%		799		3.1	%
Total loans HFI	$	2,263,980	100.0	%	$	2,254,546	100.0	%	$	9,434		0.4	%

Asset Quality and Allowance for Credit Losses

NPAs totaled $2.6 million as of June 30, 2026, a decrease of $1.6 million, or 38.3%, from March 31, 2026, primarily due to the successful resolution of nonaccrual loans. The ratio of NPAs to assets was 0.08% and 0.13% as of June 30, 2026 and March 31, 2026, respectively.

The provision for credit losses for the second quarter of 2026 was $750,000, which was consistent with the prior quarter. As of June 30, 2026, the allowance for credit losses (“ACL”) was $24.8 million. The ratio of ACL to loans HFI was 1.09% as of June 30, 2026 and 1.07% as of March 31, 2026. The net charge-offs to average loans ratio was 0.00% for the second and first quarters of 2026.

Deposits

As of June 30, 2026, deposits were $2.91 billion, a decrease of $40.9 million, or 1.4%, compared to March 31, 2026. The decrease in deposits for the second quarter of 2026 was primarily due to the seasonal outflow of funds from customer income tax payments, along with fluctuations in lawyer trust accounts due to timing of legal settlements.


Deposits by Account Type
	June 30, 2026				March 31, 2026				Change from March 31, 2026 to June 30, 2026
(dollars in thousands)	Balance		% of Total		Balance		% of Total		$ Change			% Change
Noninterest-bearing demand deposits	$	910,457	31.3	%	$	916,413	31.1	%	$	(5,956	)	(0.6	%)
Interest-bearing deposits:
Interest-bearing demand deposits		183,384	6.3	%		189,993	6.4	%		(6,609	)	(3.5	%)
NOW accounts		439,093	15.1	%		465,146	15.8	%		(26,053	)	(5.6	%)
Money market accounts		590,414	20.3	%		590,107	20.0	%		307		0.1	%
Savings accounts		173,277	6.0	%		174,393	5.9	%		(1,116	)	(0.6	%)
Time deposits less than or equal to $250,000		402,423	13.9	%		405,281	13.8	%		(2,858	)	(0.7	%)
Time deposits greater than $250,000		206,019	7.1	%		204,602	7.0	%		1,417		0.7	%
Total interest-bearing deposits		1,994,610	68.7	%		2,029,522	68.9	%		(34,912	)	(1.7	%)
Total deposits	$	2,905,067	100.0	%	$	2,945,935	100.0	%	$	(40,868	)	(1.4	%)

Deposits by Customer Type
	June 30, 2026				March 31, 2026				Change from March 31, 2026 to June 30, 2026
(dollars in thousands)	Balance		% of Total		Balance		% of Total		$ Change			% Change
Consumer	$	1,401,507	48.2	%	$	1,409,126	47.8	%	$	(7,619	)	(0.5	%)
Commercial		1,269,426	43.7	%		1,296,580	44.0	%		(27,154	)	(2.1	%)
Public		234,134	8.1	%		240,229	8.2	%		(6,095	)	(2.5	%)
Total deposits	$	2,905,067	100.0	%	$	2,945,935	100.0	%	$	(40,868	)	(1.4	%)

Stockholders’ Equity

Total stockholders’ equity as of June 30, 2026, was $384.6 million, compared to $373.3 million as of March 31, 2026. The $11.2 million, or 3.0%, increase in stockholders’ equity during the second quarter of 2026 was attributable to $11.8 million of net income, a $964,000, net of tax, market adjustment to accumulated other comprehensive loss related to securities, and $144,000 of stock compensation, partially offset by $1.6 million in cash dividends related to a $0.25 per share cash dividend that we paid on June 18, 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 tangible common equity, realized common equity, 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 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 Lafayette, Louisiana, and Shreveport, 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 publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by applicable 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 and Chief Financial Officer
318-561-4023
icarriere@redriverbank.net


FINANCIAL HIGHLIGHTS (UNAUDITED)

	As of and for the Three Months Ended									As of and for the Six Months Ended
(dollars in thousands, except per share data)	June 30, 2026			March 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Net Income	$	11,763		$	11,971		$	10,196		$	23,734		$	20,548

Per Common Share Data:
Earnings per share, basic	$	1.79		$	1.82		$	1.51		$	3.61		$	3.04
Earnings per share, diluted	$	1.78		$	1.81		$	1.51		$	3.59		$	3.03
Book value per share	$	58.40		$	56.76		$	50.23		$	58.40		$	50.23
Tangible book value per share⁽¹⁾	$	58.17		$	56.53		$	50.00		$	58.17		$	50.00
Realized book value per share⁽¹⁾	$	65.19		$	63.70		$	58.92		$	65.19		$	58.92
Cash dividends per share	$	0.25		$	0.25		$	0.12		$	0.50		$	0.24
Shares outstanding		6,584,696			6,577,186			6,676,609			6,584,696			6,676,609
Weighted average shares outstanding, basic		6,584,696			6,576,994			6,740,312			6,580,866			6,758,720
Weighted average shares outstanding, diluted		6,615,135			6,609,208			6,764,886			6,611,437			6,783,575

Summary Performance Ratios:
Return on average assets		1.43	%		1.44	%		1.30	%		1.44	%		1.31	%
Return on average equity		12.41	%		12.95	%		12.27	%		12.68	%		12.55	%
Net interest margin		3.56	%		3.47	%		3.31	%		3.51	%		3.24	%
Net interest margin FTE		3.61	%		3.51	%		3.36	%		3.56	%		3.29	%
Efficiency ratio		54.25	%		52.37	%		56.87	%		53.32	%		56.20	%
Loans HFI to deposits ratio		77.93	%		76.53	%		76.09	%		77.93	%		76.09	%
Noninterest-bearing deposits to deposits ratio		31.34	%		31.11	%		31.95	%		31.34	%		31.95	%
Noninterest income to average assets		0.58	%		0.55	%		0.60	%		0.56	%		0.64	%
Operating expense to average assets		2.22	%		2.08	%		2.21	%		2.15	%		2.16	%

Summary Credit Quality Ratios:
NPAs to assets		0.08	%		0.13	%		0.04	%		0.08	%		0.04	%
Nonperforming loans to loans HFI		0.11	%		0.18	%		0.05	%		0.11	%		0.05	%
ACL to loans HFI		1.09	%		1.07	%		1.04	%		1.09	%		1.04	%
Net charge-offs to average loans		0.00	%		0.00	%		0.00	%		0.00	%		0.02	%

Capital Ratios:
Stockholders’ equity to assets		11.61	%		11.16	%		10.59	%		11.61	%		10.59	%
Tangible common equity to tangible assets⁽¹⁾		11.57	%		11.11	%		10.54	%		11.57	%		10.54	%
Total risk-based capital to risk-weighted assets		18.76	%		18.51	%		18.33	%		18.76	%		18.33	%
Tier I risk-based capital to risk-weighted assets		17.71	%		17.47	%		17.32	%		17.71	%		17.32	%
Common equity Tier I capital to risk-weighted assets		17.71	%		17.47	%		17.32	%		17.71	%		17.32	%
Tier I risk-based capital to average assets		12.77	%		12.26	%		12.18	%		12.77	%		12.18	%

⁽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)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
ASSETS
Cash and due from banks	$	33,327		$	36,677		$	25,685		$	33,651		$	42,453
Interest-bearing deposits in other banks		162,069			173,845			187,707			127,404			167,989
Securities available-for-sale, at fair value		617,016			638,729			647,310			636,679			566,981
Securities held-to-maturity, at amortized cost		118,356			120,609			122,619			124,853			127,305
Equity securities, at fair value		3,000			3,012			3,031			3,019			2,990
Nonmarketable equity securities		2,442			2,425			2,407			2,387			2,368
Loans held for sale		2,512			3,951			3,148			3,260			4,711
Loans held for investment		2,263,980			2,254,546			2,248,669			2,173,073			2,138,580
Allowance for credit losses		(24,771	)		(24,051	)		(23,399	)		(22,801	)		(22,222	)
Premises and equipment, net		60,136			60,516			59,270			58,573			58,622
Accrued interest receivable		10,317			11,352			11,131			10,281			10,027
Bank-owned life insurance		31,724			31,488			31,267			31,041			30,817
Intangible assets		1,546			1,546			1,546			1,546			1,546
Right-of-use assets		1,326			1,407			1,487			1,564			2,489
Other assets		28,345			30,548			29,032			29,833			33,436
Total Assets	$	3,311,325		$	3,346,600		$	3,350,910		$	3,214,363		$	3,168,092
LIABILITIES
Noninterest-bearing deposits	$	910,457		$	916,413		$	913,868		$	918,974		$	897,997
Interest-bearing deposits		1,994,610			2,029,522			2,049,544			1,919,809			1,912,608
Total Deposits		2,905,067			2,945,935			2,963,412			2,838,783			2,810,605
Accrued interest payable		6,349			6,025			6,128			6,681			6,242
Lease liabilities		1,383			1,465			1,544			1,623			2,613
Accrued expenses and other liabilities		13,975			19,849			14,676			15,965			13,282
Total Liabilities		2,926,774			2,973,274			2,985,760			2,863,052			2,832,742
COMMITMENTS AND CONTINGENCIES		—			—			—			—			—
STOCKHOLDERS’ EQUITY
Preferred stock, no par value		—			—			—			—			—
Common stock, no par value		27,591			27,591			27,543			27,543			32,896
Additional paid-in capital		3,473			3,329			3,217			3,105			2,992
Retained earnings		398,175			388,058			377,731			367,302			357,488
Accumulated other comprehensive income (loss)		(44,688	)		(45,652	)		(43,341	)		(46,639	)		(58,026	)
Total Stockholders’ Equity		384,551			373,326			365,150			351,311			335,350
Total Liabilities and Stockholders’ Equity	$	3,311,325		$	3,346,600		$	3,350,910		$	3,214,363		$	3,168,092

RED RIVER BANCSHARES, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	For the Three Months Ended								For the Six Months Ended
(in thousands)	June 30, 2026			March 31, 2026			June 30, 2025		June 30, 2026			June 30, 2025
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$	32,234		$	31,545		$	29,500	$	63,779		$	57,771
Interest on securities		5,778			5,844			5,148		11,622			10,003
Interest on deposits in other banks		1,294			1,737			2,063		3,031			4,724
Dividends on stock		17			19			19		36			40
Total Interest and Dividend Income		39,323			39,145			36,730		78,468			72,538
INTEREST EXPENSE
Interest on deposits		10,356			10,741			10,911		21,097			22,109
Total Interest Expense		10,356			10,741			10,911		21,097			22,109
Net Interest Income		28,967			28,404			25,819		57,371			50,429
Provision for credit losses		750			750			450		1,500			900
Net Interest Income After Provision for Credit Losses		28,217			27,654			25,369		55,871			49,529
NONINTEREST INCOME
Service charges on deposit accounts		1,388			1,395			1,337		2,783			2,719
Debit card income, net		1,067			916			1,081		1,983			2,074
Mortgage loan income		928			605			567		1,533			1,097
Brokerage income		874			939			989		1,812			2,314
Loan and deposit income		521			498			418		1,019			877
Bank-owned life insurance income		236			221			224		457			437
Gain (Loss) on equity securities		(13	)		(19	)		9		(31	)		53
Gain (Loss) on sale and call of securities		(22	)		—			—		(22	)		—
SBIC income (loss)		(291	)		(105	)		47		(395	)		327
Other income (loss)		50			83			46		132			92
Total Noninterest Income		4,738			4,533			4,718		9,271			9,990
OPERATING EXPENSES
Personnel expenses		10,711			10,517			10,216		21,228			20,239
Occupancy and equipment expenses		1,935			1,884			1,753		3,819			3,548
Technology expenses		955			863			821		1,818			1,655
Advertising		324			328			286		652			619
Other business development expenses		641			550			455		1,190			1,013
Data processing expense		758			377			721		1,135			1,009
Other taxes		553			560			609		1,113			1,221
Loan and deposit expenses		242			103			398		345			460
Legal and professional expenses		604			529			612		1,133			1,244
Regulatory assessment expenses		409			417			388		825			779
Other operating expenses		1,154			1,122			1,108		2,278			2,168
Total Operating Expenses		18,286			17,250			17,367		35,536			33,955
Income Before Income Tax Expense		14,669			14,937			12,720		29,606			25,564
Income tax expense		2,906			2,966			2,524		5,872			5,016
Net Income	$	11,763		$	11,971		$	10,196	$	23,734		$	20,548

RED RIVER BANCSHARES, INC.
NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)

	For the Three Months Ended
	June 30, 2026							March 31, 2026
(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)	$	2,262,588		$	32,234	5.64	%	$	2,255,394		$	31,545	5.60	%
Securities – taxable		620,153			4,808	3.10	%		629,550			4,872	3.10	%
Securities – tax-exempt		181,703			970	2.14	%		182,996			972	2.12	%
Interest-bearing deposits in other banks		141,318			1,294	3.63	%		191,843			1,737	3.62	%
Nonmarketable equity securities		2,427			17	2.81	%		2,409			19	3.10	%
Total interest-earning assets		3,208,189		$	39,323	4.86	%		3,262,192		$	39,145	4.80	%
Allowance for credit losses		(24,334	)						(23,647	)
Noninterest-earning assets		120,368							127,068
Total assets	$	3,304,223						$	3,365,613
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing transaction deposits	$	1,349,934		$	5,192	1.54	%	$	1,440,118		$	5,558	1.57	%
Time deposits		607,580			5,164	3.41	%		607,964			5,183	3.46	%
Total interest-bearing deposits		1,957,514			10,356	2.12	%		2,048,082			10,741	2.13	%
Other borrowings		—			—	—	%		—			—	—	%
Total interest-bearing liabilities		1,957,514		$	10,356	2.12	%		2,048,082		$	10,741	2.13	%
Noninterest-bearing liabilities:
Noninterest-bearing deposits		945,138							917,623
Accrued interest and other liabilities		21,481							24,986
Total noninterest-bearing liabilities		966,619							942,609
Stockholders’ equity		380,090							374,922
Total liabilities and stockholders’ equity	$	3,304,223						$	3,365,613
Net interest income				$	28,967						$	28,404
Net interest spread						2.74	%						2.67	%
Net interest margin						3.56	%						3.47	%
Net interest margin FTE⁽³⁾						3.61	%						3.51	%
Cost of deposits						1.43	%						1.47	%
Cost of funds						1.29	%						1.34	%

⁽¹⁾	Includes average outstanding balances of loans held for sale of $4.7 million and $2.7 million for the three months ended June 30, 2026 and March 31, 2026, 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 Six Months Ended
	June 30, 2026							June 30, 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)	$	2,259,011		$	63,779	5.62	%	$	2,106,756		$	57,771	5.46	%
Securities – taxable		624,825			9,680	3.10	%		566,448			8,040	2.84	%
Securities – tax-exempt		182,346			1,942	2.13	%		188,480			1,963	2.08	%
Interest-bearing deposits in other banks		166,441			3,031	3.62	%		214,858			4,724	4.38	%
Nonmarketable equity securities		2,418			36	2.95	%		2,340			40	3.41	%
Total interest-earning assets		3,235,041		$	78,468	4.83	%		3,078,882		$	72,538	4.69	%
Allowance for credit losses		(23,992	)						(21,892	)
Noninterest-earning assets		123,700							106,126
Total assets	$	3,334,749						$	3,163,116
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing transaction deposits	$	1,394,777		$	10,750	1.55	%	$	1,311,898		$	11,113	1.71	%
Time deposits		607,771			10,347	3.43	%		594,914			10,996	3.73	%
Total interest-bearing deposits		2,002,548			21,097	2.12	%		1,906,812			22,109	2.34	%
Other borrowings		—			—	—	%		—			—	—	%
Total interest-bearing liabilities		2,002,548		$	21,097	2.12	%		1,906,812		$	22,109	2.34	%
Noninterest-bearing liabilities:
Noninterest-bearing deposits		931,456							902,224
Accrued interest and other liabilities		23,225							24,014
Total noninterest-bearing liabilities		954,681							926,238
Stockholders’ equity		377,520							330,066
Total liabilities and stockholders’ equity	$	3,334,749						$	3,163,116
Net interest income				$	57,371						$	50,429
Net interest spread						2.71	%						2.35	%
Net interest margin						3.51	%						3.24	%
Net interest margin FTE⁽³⁾						3.56	%						3.29	%
Cost of deposits						1.45	%						1.59	%
Cost of funds						1.32	%						1.45	%

⁽¹⁾	Includes average outstanding balances of loans held for sale of $3.7 million and $2.6 million for the six months ended June 30, 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)	June 30, 2026			March 31, 2026			June 30, 2025
Tangible common equity
Total stockholders’ equity	$	384,551		$	373,326		$	335,350
Adjustments:
Intangible assets		(1,546	)		(1,546	)		(1,546	)
Tangible common equity (non-GAAP)	$	383,005		$	371,780		$	333,804
Realized common equity
Total stockholders’ equity	$	384,551		$	373,326		$	335,350
Adjustments:
Accumulated other comprehensive (income) loss		44,688			45,652			58,026
Realized common equity (non-GAAP)	$	429,239		$	418,978		$	393,376
Common shares outstanding		6,584,696			6,577,186			6,676,609
Book value per share	$	58.40		$	56.76		$	50.23
Tangible book value per share (non-GAAP)	$	58.17		$	56.53		$	50.00
Realized book value per share (non-GAAP)	$	65.19		$	63.70		$	58.92

Tangible assets
Total assets	$	3,311,325		$	3,346,600		$	3,168,092
Adjustments:
Intangible assets		(1,546	)		(1,546	)		(1,546	)
Tangible assets (non-GAAP)	$	3,309,779		$	3,345,054		$	3,166,546
Stockholders’ equity to assets		11.61	%		11.16	%		10.59	%
Tangible common equity to tangible assets (non-GAAP)		11.57	%		11.11	%		10.54	%

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Red River Bancshares, Inc.