Baton Rouge News Bank Opens Lending Offices in Northern Louisiana, New Orleans Could Be Next | The business

Baton Rouge  News Bank Opens Lending Offices in Northern Louisiana, New Orleans Could Be Next |  The business

It opened a new loan production office in Ruston and expects to open a similar office in the New Orleans metro area by third quarter this year.  The bank’s provision for loan losses, or potential for default, was $2.2 million compared to $3.4 million as of first quarter and down from $5.4 million during second quarter 2020. 

Total assets hit $4.3 billion while total loans were $2.8 billion excluding the paycheck protection loan program. It already sold most of its $243.6 million U.S. Small News Administration paycheck protection program forgivable loan portfolio but still has $25.7 million on the books.

“ News demand was strong, resulting in record loan growth,” said Jude Melville, CEO of News First Bancshares in a news release.  News First Bancshares Inc. saw growth from businesses in the Dallas area as it now represents 18% of the bank’s credit exposure. 

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