Investar Holding Corp

Listed Company

ISTRCIK 0001602658NasdaqAcceleratedSmaller ReportingState Commercial BanksLouisianaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$22.90M

Total Assets

$2.83B

Equity

$301.07M

Shares Out

13.75M

Op. Cash Flow

$18.22M

Business

Investar Holding Corp is a financial holding company that conducts its operations primarily through its wholly owned subsidiary, Investar Bank, N.A., providing community banking services. It offers commercial and retail banking products including business loans (commercial real estate, commercial and industrial, construction), residential mortgage and consumer loans, deposit accounts, treasury management and digital banking services. Management reports all operations as a single reportable segment focused on lending and deposit services, with acquisition and branch optimization activities supporting growth. The company serves south Louisiana, southeast Texas and parts of Alabama through its operations center and full-service branches, ATMs and digital channels.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	127	128	118	93	90
Taxable	12	11	12	10	4
Tax-exempt	3	1	693,000	482,000	552,000
Other interest income	3	3	2	918,000	812,000
Total interest income	144	144	133	105	96
Interest on deposits	58	62	42	6	7
Interest on borrowings	5	13	17	9	4
Total interest expense	63	74	59	15	—
Net interest income	81	70	75	90	84
Reversal of credit losses	−3	−4	−2	3	23
Net interest income after reversal of credit losses	84	73	77	87	61
Gain (loss) on call or sale of investment securities, net	18,000	−753,000	−323,000	6,000	2
(Loss) gain on sale or disposition of fixed assets, net	−8,000	427,000	−1	−258,000	−408,000
Gain (loss) on sale of other real estate owned, net	29,000	683,000	−114,000	9,000	−5,000
Gain on sale of loans	0	0	75,000	37,000	199,000
Income from bank owned life insurance	2	5	1	1	1
Change in the fair value of equity securities	261,000	413,000	−65,000	−90,000	214,000
Income from legal settlement	0	1	0	0	—
Other operating income	2	3	2	3	2
Total noninterest income	9	14	7	18	12
Income before noninterest expense	94	87	83	105	73
Depreciation and amortization	3	3	4	4	5
Salaries and employee benefits	40	39	37	35	36
Occupancy	3	3	3	3	3
Data processing	3	4	3	4	3
Marketing	429,000	370,000	302,000	262,000	275,000
Professional fees	2	2	2	2	2
Gain on early extinguishment of subordinated debt	0	−292,000	0	222,000	0
Acquisition expense	1	0	0	0	2
Other operating expenses	13	13	13	13	12
Total noninterest expense	66	63	63	61	63
Income before income tax expense	28	24	20	44	10
Income tax expense	5	4	4	9	2
Net income	23	20	17	36	8
Preferred stock dividends declared	1	0	0	—	—
Net income available to common shareholders	22	20	17	—	—
Basic earnings per common share (in dollars per share)	2.22	2.06	1.69	3.54	0.77
Diluted earnings per common share (in dollars per share)	2.13	2.04	1.69	3.5	0.76

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	27	27	28	30	39
Interest-bearing balances due from other banks	15	1	4	10	58
Cash and cash equivalents	42	28	32	40	97
Available for sale securities at fair value (amortized cost of $416,002 and $392,564, respectively)	371	331	—	—	—
Held to maturity securities at amortized cost (estimated fair value of $50,540 and $42,144, respectively)	48	43	—	—	—
Loans	2,176	2,125	2,211	—	—
Less: allowance for credit losses	−26	−27	−31	−24	—
Loans, net	2,150	2,098	—	—	—
Bank premises and equipment, net of accumulated depreciation of $23,836 and $21,853, respectively	40	41	44	50	58
Other real estate owned, net	3	5	4	682,000	3
Accrued interest receivable	14	14	14	13	11
Deferred tax asset	14	17	17	16	2
Goodwill and other intangible assets, net	41	42	42	43	44
Bank owned life insurance	69	60	59	57	51
Other assets	21	25	25	12	12
Total assets	2,833	2,723	2,815	2,754	2,513
Noninterest-bearing	446	432	449	581	585
Interest-bearing	1,904	1,914	1,807	1,502	1,535
Total deposits	2,350	2,346	2,256	2,082	2,120
Advances from Federal Home Loan Bank	116	67	24	387	79
Repurchase agreements	11	8	9	0	—
Subordinated debt, net of unamortized issuance costs	17	17	44	44	43
Junior subordinated debt	9	9	9	9	8
Accrued taxes and other liabilities	29	35	35	16	15
Total liabilities	2,532	2,482	2,588	2,538	2,271
Commitments and contingencies (Note 19)	—	—	—	—	—
Preferred stock, no par value per share; 5,000,000 shares authorized; 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock; 32,500 shares ($1,000 liquidation preference) issued and outstanding at December 31, 2025 and none issued and outstanding at December 31, 2024	30	0	0	0	0
Common stock, $1.00 par value per share; 40,000,000 shares authorized; 9,798,948 and 9,828,413 shares issued and outstanding, respectively	10	10	10	10	10
Surplus	146	147	145	147	155
Retained earnings	151	133	117	108	76
Accumulated other comprehensive loss	−36	−48	−45	−49	1
Total stockholders equity	301	241	227	216	243
Total liabilities and stockholders equity	2,833	2,723	2,815	2,754	2,513

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net amortization (accretion) of purchase accounting adjustments	59,000	−32,000	−274,000	−95,000	−2
Provision for other real estate owned	434,000	233,000	0	0	—
Net accretion of securities	−673,000	−62,000	−62,000	972,000	3
(Gain) loss on sale of other real estate owned, net	−29,000	−683,000	114,000	−9,000	5,000
FHLB stock dividend	−273,000	−194,000	−642,000	−152,000	−40,000
Stock-based compensation	2	2	2	2	2
Deferred taxes	−349,000	659,000	−350,000	−655,000	−547,000
Net change in value of BOLI	−2	−2	−1	−1	−1
Gain on BOLI death benefit proceeds	0	−3	0	0	—
Amortization of subordinated debt issuance costs	42,000	83,000	95,000	66,000	92,000
Accrued interest receivable	135,000	−57,000	−518,000	−1	2
Other assets	−2	376,000	6	−2	−3
Accrued taxes and other liabilities	−1	−954,000	1	695,000	−1
Net cash provided by operating activities	18	16	26	43	33
Proceeds from sales of investment securities available for sale	0	18	15	0	138
Purchases of securities available for sale	−75	−28	−108	−182	−255
Purchases of securities held to maturity	−8	−27	−14	0	0
Proceeds from maturities, prepayments and calls of investment securities available for sale	52	36	141	60	85
Proceeds from maturities, prepayments and calls of investment securities held to maturity	3	5	2	2	2
Net (increase) decrease in loans	−50	83	42	−225	87
Proceeds from sales of other real estate owned	3	2	1	6	878,000
Proceeds from sales of fixed assets	0	1	42,000	5	194,000
Purchases of loans	0	0	−164	0	0
Purchases of fixed assets	−1	−506,000	−1	−1	−3
Purchases of BOLI	−8	−10	0	−5	−8
Proceeds from surrender of BOLI	0	8	0	0	—
Proceeds from BOLI death benefits	0	6	0	0	0
Purchases of other investments	−230,000	−319,000	−617,000	−718,000	−233,000
Distributions from investments	618,000	294,000	274,000	34,000	23,000
Cash paid for branch sale to First Community Bank, net of cash received	0	0	−596,000	0	0
Net cash (used in) provided by investing activities	−84	90	−73	−351	53
Net increase in customer deposits	4	90	188	−38	26
Net increase (decrease) in repurchase agreements	3	−257,000	9	−6	130,000
Net increase (decrease) in short-term FHLB advances	29	7	−334	334	−42
Net (decrease) increase in borrowings under the BTFP	0	−213	213	0	0
Proceeds from long-term FHLB advances	20	60	0	0	0
Repayment of long-term FHLB advances	0	−24	−30	−25	0
Cash dividends paid on common stock	−4	−4	−4	−4	−3
Payments to repurchase common stock	−2	−305,000	−3	−11	−7
Proceeds from stock options exercised	63,000	337,000	105,000	133,000	732,000
Proceeds from preferred stock offering, net of issuance costs	30	0	0	—	—
Cash dividends paid on preferred stock	−528,000	0	0	—	—
Extinguishment of subordinated debt	0	−27	0	−19	0
Net cash provided by (used in) financing activities	79	−110	39	251	−25
Net increase (decrease) in cash and cash equivalents	14	−4	−8	−57	62
Interest on deposits and borrowings	63	74	57	14	12
Income taxes total	6	3	3	9	4
Federal	6	3	3	—	—
State	259,000	111,000	71,000	—	—
Transfer from loans to other real estate owned	2	2	4	3	521,000
Transfer from bank premises and equipment to other real estate owned	0	424,000	1	525,000	2

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