Red River Bancshares (RRBI) IPO Opens 22% Higher

Today's IPO for Red River Bancshares, Inc. (NASDAQ: RRBI) opened for trading at $55 after pricing its initial public offering of 600,000 shares of its common stock at a public offering price of $45.00 per share.

Of the offered shares, 573,320 are being offered by the Company, and 26,680 are being offered by certain selling shareholders. The Company has also granted the underwriters a 30-day option to purchase up to an additional 90,000 shares of its common stock.

The Company intends to use the net proceeds from this offering for general corporate purposes and investment in Red River Bank, which may include the support of its balance sheet growth, repayment of the Company’s junior subordinated debentures, the acquisition of other banks or financial institutions as opportunities arise, and the maintenance of capital and liquidity ratios. The Company will not receive any proceeds from the sale of shares of common stock by the selling shareholders.

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 commercial and retail customers. Red River Bank operates from a network of 23 banking centers throughout the state and one loan production office in Covington, Louisiana. Banking centers are located in the following markets: Central Louisiana, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest Louisiana, which includes the Shreveport-Bossier City MSA; Southeast Louisiana, which includes the Baton Rouge MSA; and Southwest Louisiana, which includes the Lake Charles MSA. As of December 31, 2018, Red River Bank was the fifth largest financial institution headquartered in Louisiana based on assets, with total assets of $1.86 billion.

You May Also Be Interested In

• Goldman, BofA vie to manage Anthropic employee wealth post-IPO - report
• FatPipe, Inc. (NASDAQ: FATN) Appoints Kanishka Ragula as Chief Financial Officer
• Brazil's Marcelo Kayath would be strong pick for Finance Ministry, Eduardo Bolsonaro says