Red River Bancshares, Inc. Announces Renewal of Stock Repurchase Program
August 31 2021 - 4:30PM
Red River Bancshares, Inc. (Nasdaq: RRBI) (the “Company”) announced
today that its board of directors approved the renewal of its stock
repurchase program. The repurchase program authorizes the Company
to purchase up to $5 million of outstanding shares of common stock
from September 1, 2021 through August 31, 2022. Repurchases may be
made from time to time in the open market at prevailing prices and
based on market conditions, or in privately negotiated
transactions. Blake Chatelain, the Company’s President and Chief
Executive Officer, said, “We are pleased to renew our stock
repurchase program. Approval of this plan shows our ongoing
commitment to creating long-term value for our shareholders.”
About Red River Bancshares, Inc. The Company 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 commercial and retail customers. Red River Bank operates
from a network of 26 banking centers throughout Louisiana and one
combined loan and deposit production office in 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; and the
Northshore, which includes Covington.
Forward-Looking StatementsThis press release
may contain forward-looking statements that are based on various
facts and derived utilizing numerous important assumptions that are
subject to known and unknown risks, uncertainties, and other
factors that may cause the Company’s actual results, performance,
or achievements to be materially different from any future results,
performance, or achievements expressed or implied by such
forward-looking statements. Forward-looking statements include
information concerning the timing, manner, amount, and overall
impact of future purchases under the repurchase program, as well as
any other statement other than statements of historical fact. Words
or phrases such as “may,” “should,” “could,” “predict,”
“potential,” “believe,” “will likely result,” “expect,” “continue,”
“will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,”
“projection,” “would,” and “outlook,” or the negative version of
those words, or such other comparable words or phrases are intended
to identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements are not historical facts, and are based on current
expectations, estimates, and projections about the Company’s
industry, management’s beliefs, and certain assumptions made by
management, many of which, by their nature, are inherently
uncertain and beyond the Company’s control. Accordingly, you are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
assumptions, and uncertainties that are difficult to predict.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable as of the date
made, actual results may prove to be materially different from the
results expressed or implied by the forward-looking statements.
Unless required by law, the Company also disclaims any obligation
to update any forward-looking statements. Interested parties should
not place undue reliance on any forward-looking statement and
should carefully consider the risks and other factors that the
Company faces. For a discussion of these risks and other factors,
please see the sections titled “Cautionary Note Regarding
Forward-Looking Statements” and “Risk Factors” in the Company’s
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
Securities and Exchange Commission from time to time.
Contact:Julia CallisVice President, Corporate
Counsel & Investor Relations
Officer318-561-4042julia.callis@redriverbank.net
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