Red River Bancshares reports Q2 EPS $1.16 vs $1.25 last year

The net interest margin FTE increased nine basis points to 2.92% for the second quarter of 2024, compared to 2.83% for the prior quarter. This increase was due to improved yields on loans and securities, partially offset by higher deposit costs. Blake Chatelain, President and Chief Executive Officer, stated, “The second quarter of 2024 was one of steady, consistent performance as we expand banking center locations while being diligent in improving the net interest margin and monitoring asset quality. Overall the balance sheet was fairly consistent with deposits being impacted by seasonal outgoing income tax payments. We deployed securities cash flows into higher-yielding assets. Net interest margin FTE and net interest income increased as a result of improved pricing on new and renewed loans, combined with diligent management of deposit costs and reduced deposit rate pressures. These pricing efforts resulted in a steady improvement to the net interest margin FTE over the past three quarters.”