Red River Bancshares, Inc. announces closing of stock offering, raises $12 million in private sale
Alexandria, Louisiana (September 5, 2017)—Red River Bancshares, Inc., the holding company for Red River Bank ("Red River"), announced today the successful close of a $12 million capital raise through a non-brokered, private placement offering of common stock. The offering was oversubscribed by $10 million. Red River Bancshares is a privately held corporation headquartered in Alexandria, Louisiana whose subsidiary bank has banking centers in Alexandria, Shreveport/Bossier City, and Baton Rouge, as well as a recently opened loan production office in Lake Charles.
Blake Chatelain, Red River Bancshares President and CEO said, "This stock offering exceeded our expectations, and is a sign that there is great support for Red River Bank throughout Louisiana. We intend to use the proceeds to support growth, to position our organization to take advantage of strategic acquisition opportunities, and for other general corporate purposes."
"Red River Bancshares has a forward-thinking vision and I’m excited to be a part of the leadership team. We are pleased to increase the number of our shareholders and our footprint throughout the state," said David Thompson, Red River Bank Market President in Baton Rouge. In the Shreveport/Bossier City area, G. Bridges Hall, IV, Red River Bank Market President said, "The Bank is growing in Northwest Louisiana and soon we will be opening a new branch in Stonewall in DeSoto Parish. The strong response to the offering, shows strong confidence in us as the bank "Made in Louisiana, Made for Louisiana."
About Red River Bank
Red River Bancshares Inc. is a Louisiana bank holding company headquartered in Alexandria Louisiana. Founded in 1999, Red River Bank offers consumer and commercial banking, mortgage lending and investment services. As of June 30, 2017, Red River Bancshares had assets of $1.7 billion, net loans of $1.2 billion, deposits of $1.5 billion, and shareholder equity of $163 million. Red River Bank is the fifth-largest community bank headquartered in Louisiana, with 21 banking centers and 29 ATMs. The bank serves six parishes, spanning from Shreveport to Baton Rouge. Additional information can be found at www.redriverbank.net.