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) announced a quarterly cash dividend of $0.08 per share, payable on October 29, 2021, to shareholders of record as of September 30, 2021. This marks the 32nd quarterly dividend by Investar Holding following 11 consecutive quarterly cash dividends from its banking subsidiary, Investar Bank. As of June 30, 2021, Investar Bank had total assets of $2.7 billion and employed 357 full-time equivalent employees across 34 branches in Louisiana, Texas, and Alabama.
Investar Holding Corporation (NASDAQ: ISTR) reported record net income of $5.7 million, or $0.53 per diluted share for Q2 2021, up from $5.4 million in the prior quarter and $4.3 million in Q2 2020. Core earnings rose to $0.53 per share. The acquisition of Cheaha Bank contributed positively, leading to a 5.5% increase in total loans, reaching $1.95 billion. Total deposits grew 12.5% to $2.26 billion. Nonperforming loans increased to 1.07% of the total loan portfolio. Net interest margin decreased to 3.48% due to excess liquidity.
Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.08 per share, marking a 14% increase from the previous quarter. This dividend will be payable on July 31, 2021 to shareholders of record as of June 30, 2021. This represents the 31st quarterly dividend paid by the company, following an uninterrupted series of 11 quarterly dividends from Investar Bank. At March 31, 2021, Investar Bank had total assets of $2.4 billion.
Investar Holding Corporation (Nasdaq: ISTR) has authorized the repurchase of an additional 200,000 shares of its common stock, complementing the 315,240 shares previously available for repurchase. This initiative represents approximately 2% of the company's outstanding shares and is set to conclude by July 31, 2021. Share repurchases will be executed in open market transactions and may be suspended or terminated at the company's discretion. The repurchase program aims to enhance shareholder value and provide flexibility in capital usage.
Investar Holding Corporation (NASDAQ:ISTR) reported record net income of $5.4 million, or $0.51 per diluted share, in Q1 2021, up from $4.5 million in Q4 2020 and $0.6 million in Q1 2020. Core earnings per diluted share reached $0.49, with a net interest margin of 3.64%. Noninterest-bearing deposits surged by 15% to $515.5 million. The acquisition of Cheaha Bank closed on April 1, 2021. Book value per share increased to $23.79, while tangible book value per share rose 4% to $20.72. The allowance for loan losses increased to 1.11% of total loans.
Investar Holding Corporation (Nasdaq: ISTR) has successfully completed the acquisition of Cheaha Financial Group, Inc., the parent company of Cheaha Bank, effective April 1, 2021. Investar paid $80.00 per share, totaling approximately $41.1 million. This acquisition allows Investar to expand its presence in northeast Alabama, aligning with its strategic goals to enhance customer service and community engagement. Post-acquisition, the combined assets of Investar and Cheaha will reach approximately $2.6 billion, bolstering Investar’s footprint in the banking sector.
Investar Holding Corporation (Nasdaq: ISTR) announced a quarterly cash dividend of $0.07 per share, reflecting an 8% increase from the previous quarter. This dividend will be payable on April 30, 2021, to shareholders of record as of March 29, 2021. Additionally, the Board approved a repurchase of 300,000 shares, totaling approximately 3% of outstanding stock, in a stock buyback program. The company had previously repurchased 661,504 shares in 2020 and 213,395 shares in Q1 2021 at average prices of $16.75 and $17.48, respectively.
Investar Holding Corporation (Nasdaq:ISTR) has announced the receipt of necessary shareholder and regulatory approvals for the acquisition of Cheaha Financial Group, Inc., the parent company of Cheaha Bank in Alabama. The agreement, dated January 21, 2021, entails a cash payment of $80 per share for Cheaha's shareholders. With Cheaha Bank holding approximately $236 million in assets and $202 million in deposits as of December 31, 2020, the acquisition is expected to enhance Investar's market footprint. Completion is anticipated around April 1, 2021, pending customary closing conditions.
Investar Holding Corporation (NASDAQ:ISTR) announced a definitive agreement to acquire Cheaha Financial Group, Inc. for $41.1 million, at $80.00 per share. Cheaha Bank, with assets of $236 million, will enhance Investar’s growth strategy in Alabama. Despite a previous agreement termination in 2019 due to pandemic-related uncertainties, both banks are positioned for a successful merger, expected to close in Q2 2021. For Q4 2020, Investar posted a net income of $4.5 million, representing a strong financial position with a loan growth of 10.8% excluding PPP loans.
Investar Holding Corporation (NASDAQ: ISTR) declared a quarterly cash dividend of $0.065 per share, payable on January 31, 2021, to shareholders of record as of December 28, 2020. This marks the 29th quarterly dividend paid by the Company, following an uninterrupted series of 11 quarterly dividends from Investar Bank. As of September 30, 2020, Investar had total assets of approximately $2.3 billion and operates multiple branches across Louisiana, Texas, and Alabama.
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