Jul. 23 at 12:38 AM
$RRBI Red River Bancshares reports Q2 EPS 39c vs. 58c last year
Return on average assets of 0.76%, compared to 0.81% for the quarter ended March 31, 2024. Net interest margin of 2.67%, down two basis points, compared to 2.69% for the quarter ended March 31, 2024. "We saw further signs of stabilization in the second quarter with modest loan growth and unchanged funding costs," said David Morris, CEO of RBB Bancorp. "Net interest margin declined 2 basis points, but we are cautiously optimistic that it will begin to expand in the third and fourth quarter.
We did see an increase in non-performing loans in the second quarter, due primarily to three loans, which have sufficient collateral at the end of the quarter. Our loan production of over
$115 million resulted in
$20 million in net loan growth and higher gain on sale of loans. We are seeing positive loan pipeline activity and as a result expect to have ongoing net loan growth."
