# Red River Bancshares (RRBI.US)

Canonical: https://gigainvestors.com/s/RRBI

Analysis as of: 2026-10-16T07:31:40.373Z. Financial observations: FY2016–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $101.17 per share; close as of 2026-10-15.

Estimated value: low $56.12 per share, central $70.15 per share, high $93.53 per share. Buy at or below the central value $70.15 per share. Valuation as of 2026-10-16T07:31:40.373Z; scenarios are not confidence intervals.

Expected annual return: 8.8% at the stated quote. About 8.8% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 10

- Required profitable years: 9

- Return on common equity variation (informational): 0.14×

Chart: Net income; fiscal year observations.

- FY2016: $15M

- FY2017: $14M

- FY2018: $23M

- FY2019: $25M

- FY2020: $28M

- FY2021: $33M

- FY2022: $37M

- FY2023: $35M

- FY2024: $34M

- FY2025: $43M

### moat: fail

- Tangible common book per share

- median return on common equity below threshold

- Bank / P&C ROTE, median of available years: 11.0%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 9.9%

- Cost / income, median: 57.6%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2016: 9.9%

- FY2017: 7.9%

- FY2018: 12.1%

- FY2019: 10.0%

- FY2020: 10.0%

- FY2021: 11.2%

- FY2022: 14.1%

- FY2023: 11.6%

- FY2024: 10.8%

- FY2025: 11.8%

### economics: pass

- Tangible common book per share

- Book value per share + reinvested dividends, annualized return: 12.0%

- Book return interval: 9 years

- Starting book value per share: $20.80

- Ending book value per share: $54.23

Chart: Annual book + dividend return; fiscal year observations.

- FY2017: 19.4%

- FY2018: 14.8%

- FY2019: 24.6%

- FY2020: 10.6%

- FY2021: 5.9%

- FY2022: -9.0%

- FY2023: 15.6%

- FY2024: 10.2%

- FY2025: 19.6%

### management: pass

- Tangible common book per share

- Diluted shares, 10-year annual growth: -0.9%

- Diluted shares, 5-year annual growth: -1.8%

- Share growth excluding flagged crisis recapitalisations: -0.9%

- Five-year share growth excluding flagged crisis recapitalisations: -1.8%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 1.13×

- Book value created per share: $33.43

- Earnings retained per share after dividends and buybacks: $29.50

Chart: Shares (first year = 100); fiscal year observations.

- FY2016: 100

- FY2017: 99

- FY2018: 93

- FY2019: 97

- FY2020: 101

- FY2021: 100

- FY2022: 99

- FY2023: 98

- FY2024: 95

- FY2025: 92

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

The price assumes profits grow 7.2% a year forever · net income +24.9%

Story as of 2026-10-16T09:59:31.633Z; price observation 2026-10-15.

The price assumes profits grow 7.2% a year forever

### Net income · FY2025

net income +24.9%; source https://www.sec.gov/Archives/edgar/data/1071236/000107123626000027/rrbi-20251231.htm; observed 2026-03-13.

- FY2016: $15M 

- FY2017: $14M 

- FY2018: $23M 

- FY2019: $25M 

- FY2020: $28M 

- FY2021: $33M 

- FY2022: $37M 

- FY2023: $35M 

- FY2024: $34M 

- FY2025: $43M 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in regional banking; annual sales are USD 125.5 million.

- Source: https://www.sec.gov/Archives/edgar/data/1071236/000107123626000027/rrbi-20251231.htm#000107123626000027 (filed 2026-03-13); FY2025: revenue 125521000.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); RRBI.US: Red River Bancshares, Inc. operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in the United States. The company offers various deposit products, including checking, saving, money market accounts, and time deposits. It provides commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit. In addition, the company offers treasury management, private banking, and brokerage; investment advisory, financial planning, and a suite of retirement plans; debit and credit cards, direct deposits, cashier's checks, and wire transfer services; online banking services, including access to account balances, online transfers, online bill payment, and electronic delivery of customer statements; and banking services in person, through ATMs, drive-through facilities, night deposits, telephone, mail, mobile banking, and remote deposits. Red River Bancshares, Inc. was incorporated in 1998 and is headquartered in Alexandria, Louisiana.

### Why customers stay

It earns 11% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-13); 10-year return on tangible equity observations [[2016,0.09947109462993091],[2017,0.07852197885493226],[2018,0.12095839169827555],[2019,0.09977251352459346],[2020,0.09966853880858116],[2021,0.11167973754312711],[2022,0.14054617929574623],[2023,0.11596992941192118],[2024,0.10811724096549154],[2025,0.11761146742060043]]; median 0.10989848925430933. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 11.1 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-13); Dividend observations: [[2016,1009000],[2017,1009000],[2018,1009000],[2019,1326000],[2020,1759000],[2021,2033000],[2022,2011000],[2023,2289000],[2024,2483000],[2025,3587000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1071236/000107123626000027/rrbi-20251231.htm (filed 2026-03-13); FY2025: cash repurchases 11056000 USD.

### Are managers owners

Insiders own 21.4% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); RRBI.US SharesStats.PercentInsiders = 21.357 percentage points; cache date 2026-10-05.

### What could break it

US import tariffs could raise product costs.

- Source: https://www.sec.gov/Archives/edgar/data/1071236/000107123626000027/rrbi-20251231.htm (filed 2026-03-13); ds indicated, the provision for credit losses:

For the Years Ended December 31,

(dollars in thousands) 2025 2024 Increase (Decrease)

Provision for credit losses $ 2,300 $ 1,200 $ 1,100 91.7 %

The provision for credit losses for the year ended December 31, 2025, was $2.3 million for loans, an increase of $1.1 million from $1.2 million for the year ended December 31, 2024. The provision for credit losses for 2024 included $1.0 million for loans and $200,000 for unfunded commitments. In 2025, the higher provision was primarily driven by loan growth, lingering impacts related to inflation and tariffs, and greater uncertainty with future unemployment. We will continue to evaluate future provision needs in relation to current economic situations, loan growth, trends in asset quality, forecasted information, and other conditions influencing loss expectations.

Noninterest Income

Our primary sources of noninterest income are fees related to the sale of mortgage loans, service charges on deposit accounts, debit card fees, brokerage income from advisory services, and other loan and deposit fees.



### What the price says

The price assumes profits grow 7.2% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-13); Price 101.17; FX 1; original perpetual distributable cash 2.8058657121528663; discount 0.1; growth 0.07226583263662285. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2019-05: $48.78 per share

- 2019-06: $48.45 per share

- 2019-07: $47.12 per share

- 2019-08: $42.75 per share

- 2019-09: $43.37 per share

- 2019-10: $44.00 per share

- 2019-11: $50.50 per share

- 2019-12: $56.06 per share

- 2020-01: $52.95 per share

- 2020-02: $51.98 per share

- 2020-03: $37.22 per share

- 2020-04: $38.29 per share

- 2020-05: $40.25 per share

- 2020-06: $43.89 per share

- 2020-07: $40.04 per share

- 2020-08: $43.52 per share

- 2020-09: $43.00 per share

- 2020-10: $45.41 per share

- 2020-11: $49.74 per share

- 2020-12: $49.55 per share

- 2021-01: $46.58 per share

- 2021-02: $51.90 per share

- 2021-03: $56.01 per share

- 2021-04: $55.64 per share

- 2021-05: $54.61 per share

- 2021-06: $50.51 per share

- 2021-07: $50.95 per share

- 2021-08: $50.16 per share

- 2021-09: $49.85 per share

- 2021-10: $52.38 per share

- 2021-11: $52.80 per share

- 2021-12: $53.50 per share

- 2022-01: $51.97 per share

- 2022-02: $51.20 per share

- 2022-03: $52.91 per share

- 2022-04: $54.25 per share

- 2022-05: $51.35 per share

- 2022-06: $54.08 per share

- 2022-07: $54.85 per share

- 2022-08: $51.11 per share

- 2022-09: $49.43 per share

- 2022-10: $56.92 per share

- 2022-11: $52.50 per share

- 2022-12: $51.06 per share

- 2023-01: $50.90 per share

- 2023-02: $50.61 per share

- 2023-03: $48.11 per share

- 2023-04: $46.00 per share

- 2023-05: $49.12 per share

- 2023-06: $49.14 per share

- 2023-07: $49.01 per share

- 2023-08: $47.28 per share

- 2023-09: $45.96 per share

- 2023-10: $46.48 per share

- 2023-11: $50.78 per share

- 2023-12: $56.11 per share

- 2024-01: $51.21 per share

- 2024-02: $49.80 per share

- 2024-03: $49.79 per share

- 2024-04: $45.21 per share

- 2024-05: $45.86 per share

- 2024-06: $47.99 per share

- 2024-07: $55.72 per share

- 2024-08: $53.11 per share

- 2024-09: $52.00 per share

- 2024-10: $52.22 per share

- 2024-11: $60.05 per share

- 2024-12: $53.98 per share

- 2025-01: $55.80 per share

- 2025-02: $56.45 per share

- 2025-03: $51.65 per share

- 2025-04: $52.70 per share

- 2025-05: $56.09 per share

- 2025-06: $58.70 per share

- 2025-07: $60.17 per share

- 2025-08: $65.40 per share

- 2025-09: $64.82 per share

- 2025-10: $66.06 per share

- 2025-11: $70.05 per share

- 2025-12: $71.43 per share

- 2026-01: $83.06 per share

- 2026-02: $88.70 per share

- 2026-03: $90.44 per share

- 2026-04: $90.73 per share

- 2026-05: $90.92 per share

- 2026-06: $91.28 per share

- 2026-07: $100.55 per share

- 2026-08: $100.04 per share

- 2026-09: $99.87 per share

- 2026-10: $101.17 per share

## Annual estimated value (USD per share)

- FY2020: low $30.50 per share, central $38.13 per share, high $50.84 per share

- FY2021: low $32.11 per share, central $40.14 per share, high $53.52 per share

- FY2022: low $29.03 per share, central $36.29 per share, high $48.38 per share

- FY2023: low $38.30 per share, central $47.87 per share, high $63.83 per share

- FY2024: low $44.05 per share, central $55.06 per share, high $73.41 per share

- FY2025: low $54.12 per share, central $67.65 per share, high $90.20 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1071236/000107123626000027/rrbi-20251231.htm); period 2025-12-31, filed 2026-03-13.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.