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Mark Manda, Red River Bank market president in Covington

Red River Bank is expanding into Covington, opening a temporary loan production office downtown, hiring a market president for the area and buying a former Capital One building for a branch opening in the fall.

The Alexandria-based bank has opened an office at 217 North Vermont to serve as an office for loans. Mark Manda was named market president. Manda has spent more than 15 years in the banking industry, most recently as a senior vice president for commercial lending with Business First Bank in Covington.

Two employees are currently working at the loan office, said Evelyn Jones, a spokeswoman for Red River Bank.

Red River Bank purchased the former Capital One branch at 70561 Highway 21 and expects to open it as a branch in the fall, Jones said.

Red River Bank has 23 locations across the state, mainly concentrated in metro Baton Rouge, Alexandria and Shreveport/Bossier City. As of Dec. 31, the bank had $1.86 billion in assets.


Follow Timothy Boone on Twitter, @TCB_TheAdvocate.