Welcome to our dedicated page for Investar Holding Corporation news (Ticker: ISTR), a resource for investors and traders seeking the latest updates and insights on Investar Holding Corporation stock.
Investar Holding Corporation (NASDAQ: ISTR), headquartered in Baton Rouge, Louisiana, is a financial holding company providing full-service banking through its subsidiary, Investar Bank, National Association. Specializing in commercial and retail lending, Investar Bank offers a diverse range of products such as business loans, personal loans, specialty accounts, cash management, and electronic transactions. The bank's operations span across Louisiana, Texas, and Alabama, with 28 active branch locations as of March 31, 2024.
Investar Holding Corporation's core business involves serving small to medium-sized businesses, professionals, and individuals with tailored financial solutions. The bank is a prominent player in the local community banking sector and prides itself on its customer-centric approach. Services include bill paying, direct deposit, automated teller machines (ATMs), debit cards, and a variety of loan services aimed at supporting both personal and business financial needs.
In recent developments, Investar has focused on strategic initiatives to optimize its balance sheet and enhance shareholder value. This includes the acquisition of approximately $163 million in commercial and industrial revolving lines of credit, and the exit from the consumer mortgage origination business to streamline operations and focus on more profitable segments. The company has also made substantial progress in digital transformation and operational efficiency by consolidating branch locations and optimizing its ATM footprint.
Investar's financial condition remains robust with total assets of $2.8 billion and 323 full-time equivalent employees as of March 31, 2024. The company continues to report solid earnings, with a net income of $4.7 million for the first quarter of 2024. Despite the fluctuating interest rate environment, Investar has managed to maintain strong credit quality, with nonperforming loans representing only 0.26% of total loans.
The company has an active stock repurchase program through which it continues to buy back shares, demonstrating confidence in its long-term value. Investar also pays quarterly dividends to its shareholders, reinforcing its commitment to returning capital to investors. The bank's leadership under President and CEO John D'Angelo emphasizes a forward-looking strategy to navigate economic uncertainties while capitalizing on growth opportunities.
Forward-looking statements indicate the company's plans to further enhance its financial performance through disciplined growth, strategic acquisitions, and continued focus on customer service excellence.
Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.095 per share, marking a 6% increase from the previous quarter. This dividend will be paid on October 31, 2022 to shareholders of record as of September 30, 2022. Additionally, the Board of Directors approved the repurchase of 300,000 shares under its stock repurchase program, enhancing shareholder value. To date, Investar has repurchased 2,280,082 shares at an average price of $19.32 since the program's inception in 2015.
Investar Holding Corporation (NASDAQ:ISTR) reported net income of $9.4 million ($0.92 per diluted share) for Q2 2022, down from $10.1 million ($0.97 per diluted share) in Q1 2022. Core earnings were $0.62 per diluted share, compared to $0.68 in the previous quarter. Total loans increased by $39 million (2.1%) to $1.92 billion, with a significant improvement in credit quality as nonperforming loans fell to 0.89%. Despite a decrease in total deposits by 5.6%, efficiency ratios improved, indicating effective cost management.
Investar Holding Corporation (NASDAQ:ISTR) announced the sale of two banking locations in Alice and Victoria, Texas, to First Community Bank. The deal includes approximately $23 million in loans and $27 million in deposits. This strategic move allows Investar to concentrate on its core markets, as these branches are the farthest from its Louisiana headquarters. The transaction is subject to regulatory approval and is expected to close in Q1 2023. Investar currently operates 31 branches across Louisiana, Texas, and Alabama, with total assets of $2.6 billion.
Investar Holding Corporation (Nasdaq: ISTR) declared a quarterly cash dividend of $0.09 per share, reflecting a 6% increase from the prior quarter. The dividend is payable on July 29, 2022, to shareholders on record by June 30, 2022. This marks the 35th quarterly dividend distribution, following 11 consecutive dividend payments by Investar Bank. As of March 31, 2022, Investar Bank, the Company's wholly-owned subsidiary, held total assets of $2.6 billion and operates 31 branches across Louisiana, Texas, and Alabama.
Investar Holding Corporation (NASDAQ:ISTR) reported record net income of $10.1 million, or $0.97 per diluted share, for Q1 2022, an increase from $6.9 million or $0.67 in Q4 2021 and from $5.4 million or $0.51 in Q1 2021. Core earnings were $0.68 per diluted share, up from $0.56 in Q4 2021. The Board approved an additional 400,000 shares for repurchase, totaling about 4% of outstanding stock. Total deposits rose 3.1% to $2.19 billion, while noninterest income surged 249% to $5.9 million. The efficiency ratio improved significantly to 55.74%.
Investar Holding Corporation (NASDAQ: ISTR) announced the completion of a $20 million private placement of its 5.125% Fixed-to-Floating Subordinated Notes due 2032. The notes will initially yield 5.125% interest for the first five years, transitioning to a floating rate thereafter. Proceeds will be used to refinance existing debt, fund possible share repurchases, and for general corporate purposes. The issuance received an investment grade rating of BBB from Egan Jones Ratings Company.
Investar Holding Corporation (Nasdaq: ISTR) declared a quarterly cash dividend of $0.085 per share, marking a 6% increase from the previous quarter. This dividend is scheduled for payment on April 29, 2022, to shareholders on record as of March 31, 2022. This announcement marks the 34th quarterly dividend and continues a streak of uninterrupted payments from Investar Bank over the past 11 quarters. Investar Holding Corporation operates with total assets of $2.5 billion across 33 branches in Louisiana, Texas, and Alabama.
Investar reported a strong fourth quarter of 2021 with a net income of $6.9 million, or $0.67 per diluted share, compared to a net loss of $10 million in Q3 2021. Core earnings were $0.56 per diluted share, a significant improvement from the prior quarter's loss. The company’s net interest margin increased to 3.57% while deposits decreased by 8% to $2.12 billion. Total loans declined slightly to $1.87 billion, although organic loan growth was noted. CEO John D'Angelo expressed optimism for continued loan demand and strategic efforts to enhance efficiency and reduce costs.
Investar Holding Corporation (Nasdaq:ISTR) has declared a quarterly cash dividend of $0.08 per share, payable on January 31, 2022, to shareholders of record by December 31, 2021. This marks the 33rd quarterly dividend issued by the Company following 11 consecutive quarters of cash dividends by Investar Bank. The Company operates 33 branches across Louisiana, Texas, and Alabama, with total assets of $2.7 billion as of September 30, 2021.
Investar Holding Corporation (NASDAQ:ISTR) reported a net loss of $10.0 million ($0.95 per share) for Q3 2021, a significant decline from a profit of $5.7 million in Q2 2021. This loss was primarily due to a $21.6 million impairment charge linked to Hurricane Ida. Total deposits increased by 1.9% to $2.30 billion, driven by organic growth and the acquisition of Cheaha Bank. While noninterest income fell by 4.1% to $3.9 million, net interest income rose 1.8% to $21.5 million, highlighting a stable core despite external pressures.
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