Red River Bank Adds Investment and Medical Chiefs to Board in Strategic Overhaul

ALEXANDRIA, La. – May 28, 2026 – Red River Bancshares, Inc. (Nasdaq: RRBI) today announced a significant evolution in its leadership structure, appointing investment executive A. Peyton Bush, IV and prominent surgeon R. Chance DeWitt, M.D. to its board of directors. The appointments coincide with the retirement of Kirk D. Cooper, a founding director who has served the institution for over a quarter-century.

The move is being interpreted as a deliberate strategy to infuse the board with specialized expertise from outside traditional banking, positioning the Louisiana-based company for its next phase of growth in an increasingly complex economic environment. The new directors are set to fill vacancies left by Mr. Cooper's retirement and the resignation of another director last year, bringing the board's total membership to ten.

A Strategic Infusion of Expertise

The backgrounds of the new appointees directly reflect a focus on key sectors and financial strategies. A. Peyton Bush, IV, who resides in New Orleans, brings a wealth of sophisticated financial acumen to the board. As the chief investment officer of Bollinger Enterprises, LLC, a single-family investment office, he manages a diverse portfolio spanning public securities, hedge funds, real estate, and private equity. His prior experience includes roles at New Orleans-based private equity firm LongueVue Capital, alternative investment firm Highland Capital Management, and global financial services leader JP Morgan Securities.

This deep expertise in investment management and capital allocation is expected to enhance Red River Bank's own investment strategies, risk management frameworks, and the expansion of its wealth management and brokerage services for high-net-worth clients. Blake Chatelain, President and Chief Executive Officer, noted the alignment, stating, “Peyton’s extensive investment management experience and deep financial expertise... will strengthen our boards as we continue to execute our strategy to deliver exceptional value to our customers and shareholders.”

Complementing this financial proficiency is the appointment of Dr. R. Chance DeWitt, a distinguished cardiothoracic and vascular surgeon based in Lafayette. A native of Alexandria, where the bank is headquartered, Dr. DeWitt is a leader in his field, serving as the medical director of the Structural Heart Program at Our Lady of Lourdes Heart Hospital. With over three decades of experience and board certifications from the American College of Surgeons and the American College of Thoracic Surgeons, his perspective offers invaluable insight into Louisiana's substantial healthcare industry.

Dr. DeWitt’s appointment provides the board with a direct line into a critical economic sector, informing the bank's commercial lending strategies for medical practices, clinics, and related enterprises. His strong community ties in the vital Acadiana market further support the bank’s model of localized engagement. Chatelain highlighted this, noting that “Chance’s breadth of leadership across healthcare and strong community connections in markets we serve” were key factors in his selection.

Honoring a Legacy, Embracing the Future

The appointments mark a significant changing of the guard for Red River Bank. Kirk D. Cooper, who retired at the company’s annual shareholder meeting on May 7, 2026, was instrumental in the institution's creation and development. As a founding director who joined the company board in 1998 and the bank board upon its establishment in 1999, his tenure spanned the bank's entire history from a local startup to a major regional player with 28 banking centers across Louisiana.

His departure represents the conclusion of a foundational chapter for the bank. In a statement, CEO Blake Chatelain expressed the organization's gratitude. “For more than 25 years, since we created the Bank, Kirk has served as an insightful and dedicated leader, providing guidance and support to our team,” he said. “The entire board and management join me in thanking Kirk for his many contributions and wishing him the very best in retirement.”

The transition underscores the board's commitment to proactive governance. By filling the vacancies with directors possessing such distinct and strategic skill sets, Red River Bancshares signals a forward-looking approach that respects its legacy while actively preparing for future challenges and opportunities.

Diversifying the Board for a Modern Economy

Red River's decision to appoint a chief investment officer and a medical doctor is reflective of a broader, accelerating trend among regional banks to diversify board composition beyond core financial backgrounds. In an era of digital disruption, specialized industry needs, and evolving risk landscapes, boards are increasingly seeking interdisciplinary insights to guide strategy.

This approach is mirrored by peers in the Southern U.S. banking sector. For instance, both Trustmark Corporation and Origin Bancorp also have medical doctors serving on their boards, recognizing the value of healthcare expertise in their market areas. Meanwhile, other institutions like Home Bancorp have recently added directors with technology-focused backgrounds to steer digital transformation initiatives. This trend acknowledges that a modern bank's success is tied not only to sound financial management but also to a deep understanding of the key industries and communities it serves.

The inclusion of leaders like Bush and DeWitt provides Red River Bank with a more holistic view of its operating environment. It allows the board to better anticipate the needs of clients in major sectors like healthcare, refine its investment and wealth management products, and identify growth opportunities that a more traditionally composed board might overlook. This diversification is a hallmark of robust corporate governance, intended to foster innovation and ensure the bank remains adaptable and competitive.

Market Position and Shareholder Outlook

The board refresh comes at a time of strong performance for Red River Bancshares. The company’s stock (RRBI) has surged approximately 63% over the past year and was trading near its 52-week high around the time of the announcement. This performance suggests a high degree of market confidence in the bank's fundamentals and strategic direction. Further bolstering this sentiment is the significant insider ownership, with insiders holding around 23% of the company, indicating that its leadership is highly invested in its long-term success.

However, the view from Wall Street analysts is more measured. The consensus rating for RRBI is a “Hold,” with an average 12-month price target of $80.50, which sits below its recent trading levels. This suggests that while the bank's foundation is solid, analysts may be exercising caution regarding its potential for significant short-term appreciation after its recent run-up.

As Red River Bancshares integrates its new directors, investors and customers will be watching to see how their unique expertise is leveraged. The strategic appointments of Bush and DeWitt are a clear statement of intent, signaling the bank's ambition to not only maintain its strong community-focused foundation but also to build a more dynamic and resilient institution prepared for the future of the regional economy.