Red River Bancshares, a Louisiana commercial bank with 24 locations across the state, announced terms for its IPO on Thursday.
The Alexandria, LA-based company plans to raise $26 million by offering 600,000 shares (4% insider) at a price range of $42 to $46. At the midpoint of the proposed range, Red River Bancshares would command a fully diluted market value of $319 million.
Red River Bancshares was founded in 1998 and booked $74 million in revenue for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol RRBI. FIG Partners and Stephens Inc. are the joint bookrunners on the deal.
