Reported Earnings • Jul 21
Second quarter 2026 earnings released: EPS: US$0.65 (vs US$0.46 in 2Q 2025) Second quarter 2026 results: EPS: US$0.65 (up from US$0.46 in 2Q 2025). Revenue: US$36.3m (up 64% from 2Q 2025). Net income: US$8.94m (up 99% from 2Q 2025). Profit margin: 25% (up from 20% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 29
Investar Holding Corporation(NasdaqGM:ISTR) dropped from Russell 2000 Dynamic Index Investar Holding Corporation(NasdaqGM:ISTR) dropped from Russell 2000 Dynamic Index Declared Dividend • Jun 25
First quarter dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 30th June 2026 Payment date: 31st July 2026 Dividend yield will be 1.6%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 30% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 18
Investar Holding Corporation Declares Quarterly Common Stock Dividend, Payable on July 31, 2026 Investar Holding Corporation declared a quarterly cash dividend of $0.12 per share to holders of the Company's common stock. The dividend is payable on July 31, 2026 to shareholders of record as of June 30, 2026. This represents a 9% increase in the dividend per share compared to the prior quarter and is the 51 quarterly dividend paid by the Company, which follows an uninterrupted 11 quarterly cash dividends paid by the Bank. Announcement • Apr 09
Investar Holding Corporation, Annual General Meeting, May 20, 2026 Investar Holding Corporation, Annual General Meeting, May 20, 2026. Location: investar tower, 10500 coursey boulevard, third floor, baton rouge, louisiana 70816, United States Announcement • Jan 07
Investar Holding Corporation and Investar Bank, National Association Announces Board and Committee Changes Effective January 1, 2026, David Flack and James Dunkerley were appointed to fill two newly created vacancies on the board of directors of Investar, with the initial term of each to expire upon the election of directors at Investar’s 2026 annual meeting. Each of Messrs. Flack and Dunkerley was also appointed as a director of Investar Bank. Each of Messrs. Flack and Dunkerley was appointed to serve on the board of directors of Investar and Investar Bank under the terms of the Merger Agreement, which provide for the initial appointment of each director with an obligation to renominate each such director at the first annual meeting of the shareholders of Investar following the completion of the Merger. The board of directors of Investar determined that Messrs. Flack and Dunkerley are independent pursuant to the director independence standards established under the NASDAQ Stock Market listing rules. Upon recommendation of the Nominating and Governance Committee of the board of directors of Investar, the board of directors of Investar appointed Mr. Flack as a member of the Mergers and Acquisitions Committee of Investar and the Asset/Liability Committee of Investar Bank and Mr. Dunkerley as a member of the Enterprise Risk Committee of Investar and the Compliance Committee of Investar Bank. Announcement • Jan 03
Investar Holding Corporation (NasdaqGM:ISTR) completed the acquisition of Wichita Falls Bancshares, Inc. Investar Holding Corporation (NasdaqGM:ISTR) agreed to acquire Wichita Falls Bancshares, Inc. for $112.9 million on July 1, 2025. The consideration consists of 3.96 million common equity of Investar Holding Corporation at a ratio of 6.3702 per common equity of Wichita Falls Bancshares, Inc. A cash consideration of $7.2 million will be paid by Investar Holding Corporation. As part of consideration, $7.2 million is paid towards common equity of Wichita Falls Bancshares, Inc. In case of termination of transaction, Wichita will pay a termination fee of $3.30 million. Ratios on completion are based on Wichita Falls Bancshares Inc.'s December 31, 2024 small parent equity and LTM net income of $97,235,000 and $5,879,000 respectively.
The transaction is subject to approvals or waivers by the FRB, the OCC, and the TDB, the Secretary of State of the State of Louisiana and Texas, approval of offer by Investar shareholders and approval of offer by Wichita shareholders. The deal has been unanimously approved by the board of Investar and Wichita. Shareholder approvals and regulatory approvals has been received. The expected completion of the transaction in fourth quarter of 2025. As of October 17, 2025, Investar anticipates it will close the Wichita Falls acquisition on or about January 1, 2026.
Stephanie E. Kalahurka of Fenimore Kay Harrison LLP acted as legal advisor for Investar Holding Corporation. Robert N. Flowers of Bradley Arant Boult Cummings LLP acted as legal advisor for Wichita Falls Bancshares, Inc. Janney Montgomery Scott LLC acted as financial advisor for Investar Holding Corporation. Olsen Palmer LLC acted as financial advisor for Wichita Falls Bancshares, Inc. Olsen Palmer LLC acted as fairness opinion provider for Wichita Falls Bancshares, Inc.
Investar Holding Corporation (NasdaqGM:ISTR) completed the acquisition of Wichita Falls Bancshares, Inc. on January 1, 2026. Announcement • Sep 20
Investar Holding Corporation announces Quarterly dividend, payable on October 01, 2025 Investar Holding Corporation announced Quarterly dividend of USD 0.1100 per share payable on October 01, 2025, ex-date on September 30, 2025 and record date on September 30, 2025. Announcement • Jul 02
Investar Holding Corporation (NasdaqGM:ISTR) agreed to acquire Wichita Falls Bancshares, Inc for $83.6 million. Investar Holding Corporation (NasdaqGM:ISTR) agreed to acquire Wichita Falls Bancshares, Inc. for $83.6 million on July 1, 2025. The consideration consists of 3.96 million common equity of Investar Holding Corporation at a ratio of 6.3702 per common equity of Wichita Falls Bancshares, Inc. A cash consideration of $7.2 million will be paid by Investar Holding Corporation. As part of consideration, $7.2 million is paid towards common equity of Wichita Falls Bancshares, Inc. In case of termination of transaction, Wichita will pay a termination fee of $3.30 million.
The transaction is subject to approval by regulatory board / committee, approval of offer by Investar shareholders and approval of offer by Wichita shareholders. The deal has been unanimously approved by the board of Investar and Wichita. The expected completion of the transaction in fourth quarter of 2025.
Stephanie E. Kalahurka of Fenimore Kay Harrison LLP acted as legal advisor for Investar Holding Corporation. Robert N. Flowers of Bradley Arant Boult Cummings LLP acted as legal advisor for Wichita Falls Bancshares, Inc. Janney Montgomery Scott LLC acted as financial advisor for Investar Holding Corporation. Olsen Palmer LLC acted as financial advisor for Wichita Falls Bancshares, Inc. Olsen Palmer LLC acted as fairness opinion provider for Wichita Falls Bancshares, Inc. Announcement • Apr 09
Investar Holding Corporation, Annual General Meeting, May 21, 2025 Investar Holding Corporation, Annual General Meeting, May 21, 2025. Location: investor tower 10500 coursey boulevard, third floor baton rough, louisiana 70816, United States Announcement • Jan 23
Investar Holding Corporation Announces Board and Committee Changes On January 15, 2025, Anita M. Fontenot notified Investar Holding Corporation of her resignation from the Board of Directors of the Company (the “Board”), effective on January 20, 2025. On January 15, 2025, upon recommendation of the Nominating and Governance Committee of the Board (the “Nominating Committee”), the Board appointed Julio A. Melara chairman of the Board’s Audit Committee effective January 20, 2025. Mr. Melara previously served as vice-chairman of the Board’s Audit Committee. On January 15, 2025, upon recommendation of the Nominating Committee, the Board appointed Scott G. Ginn vice-chairman of the Board’s Audit Committee effective January 20, 2025. Announcement • Dec 19
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on January 31, 2025 Investar Holding Corporation declared a quarterly cash dividend of $0.105 per share to holders of the Company's common stock. The dividend is payable on January 31, 2025 to shareholders of record as of December 31, 2024. Reported Earnings • Oct 21
Third quarter 2024 earnings released: EPS: US$0.55 (vs US$0.28 in 3Q 2023) Third quarter 2024 results: EPS: US$0.55 (up from US$0.28 in 3Q 2023). Revenue: US$21.2m (up 11% from 3Q 2023). Net income: US$5.38m (up 94% from 3Q 2023). Profit margin: 25% (up from 14% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Scott Ginn was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 19
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on October 31, 2024 Investar Holding Corporation declared a quarterly cash dividend of $0.105 per share to holders of the Company's common stock. The dividend is payable on October 31, 2024 to shareholders of record as of September 30, 2024. This represents a 5% increase in the dividend per share compared to the prior quarter and is the 44th quarterly dividend paid by the Company, which follows an uninterrupted 11 quarterly cash dividends paid by the Bank. Reported Earnings • Jul 23
Second quarter 2024 earnings released: EPS: US$0.41 (vs US$0.66 in 2Q 2023) Second quarter 2024 results: EPS: US$0.41 (down from US$0.66 in 2Q 2023). Revenue: US$20.4m (down 13% from 2Q 2023). Net income: US$4.06m (down 38% from 2Q 2023). Profit margin: 20% (down from 28% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 20
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on July 31, 2024 Investar Holding Corporation declared a quarterly cash dividend of $0.10 per share to holders of the Company's common stock. The dividend is payable on July 31, 2024 to shareholders of record as of July 1, 2024. Announcement • Apr 24
An undisclosed buyer acquired One branch location in Alabama of Investar Holding Corporation (NasdaqGM:ISTR). An undisclosed buyer acquired One branch location in Alabama of Investar Holding Corporation (NasdaqGM:ISTR) during the first quarter of 2024.
An undisclosed buyer completed the acquisition of One branch location in Alabama of Investar Holding Corporation (NasdaqGM:ISTR) during the first quarter of 2024. Reported Earnings • Apr 23
First quarter 2024 earnings released: EPS: US$0.48 (vs US$0.39 in 1Q 2023) First quarter 2024 results: EPS: US$0.48 (up from US$0.39 in 1Q 2023). Revenue: US$21.4m (up 2.5% from 1Q 2023). Net income: US$4.71m (up 24% from 1Q 2023). Profit margin: 22% (up from 18% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 03
Investar Holding Corporation, Annual General Meeting, May 15, 2024 Investar Holding Corporation, Annual General Meeting, May 15, 2024, at 15:00 Central Standard Time. Location: Investar Bank 10500 Coursey Boulevard, Third Floor Baton Rouge, Louisiana 70816 Louisiana United States Agenda: To elect 11 directors, each to serve a one-year term; to ratify the appointment of Horne LLP as Investar Holding Corporation's independent registered public accounting firm for the 2024 fiscal year; to approve, on an advisory basis, the compensation of our named executive officers; and to transact such other business as may properly come before the 2024 Annual Meeting of Shareholders or any adjournments or postponements thereof (the 2024 Annual Meeting"). Announcement • Mar 21
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on April 30, 2024 Investar Holding Corporation declared a quarterly cash dividend of $0.10 per share to holders of the Company's common stock. The dividend is payable on April 30, 2024 to shareholders of record as of April 1, 2024. This is the 42nd quarterly dividend paid by the Company, which follows anuninterrupted 11 quarterly cash dividends paid by the Bank. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: US$1.70 (vs US$3.54 in FY 2022) Full year 2023 results: EPS: US$1.70 (down from US$3.54 in FY 2022). Revenue: US$83.1m (down 20% from FY 2022). Net income: US$16.7m (down 53% from FY 2022). Profit margin: 20% (down from 34% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.83% (down from 3.67% in FY 2022). Cost-to-income ratio: 77.3% (up from 56.3% in FY 2022). Non-performing loans: 0.26% (down from 0.54% in FY 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$1.69 (vs US$3.54 in FY 2022) Full year 2023 results: EPS: US$1.69 (down from US$3.54 in FY 2022). Revenue: US$83.1m (down 20% from FY 2022). Net income: US$16.7m (down 53% from FY 2022). Profit margin: 20% (down from 34% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Dec 21
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on January 31, 2024 Investar Holding Corporation declared a quarterly cash dividend of $0.10 per share to holders of the Company's common stock. The dividend is payable on January 31, 2024 to shareholders of record as of January 2, 2024. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €12.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €21.04 per share. New Risk • Oct 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €93.1m (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 32% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€93.1m market cap, or US$98.6m). Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: US$0.28 (vs US$0.73 in 3Q 2022) Third quarter 2023 results: EPS: US$0.28 (down from US$0.73 in 3Q 2022). Revenue: US$19.1m (down 23% from 3Q 2022). Net income: US$2.78m (down 62% from 3Q 2022). Profit margin: 14% (down from 29% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Announcement • Sep 21
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on October 31, 2023 Investar Holding Corporation declared a quarterly cash dividend of $0.10 per share to holders of the company's common stock. The dividend is payable on October 31, 2023 to shareholders of record as of October 2, 2023. This is the 40th quarterly dividend paid by the company, which follows an uninterrupted 11 quarterly cash dividends paid by the Bank. Reported Earnings • Jul 23
Second quarter 2023 earnings released: EPS: US$0.66 (vs US$0.93 in 2Q 2022) Second quarter 2023 results: EPS: US$0.66 (down from US$0.93 in 2Q 2022). Revenue: US$23.3m (down 15% from 2Q 2022). Net income: US$6.55m (down 30% from 2Q 2022). Profit margin: 28% (down from 34% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.7% p.a. on average during the next 2 years, while revenues in the Banks industry in Europe are expected to grow by 4.4%. Announcement • Jun 22
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on July 31, 2023 Investar Holding Corporation declared a quarterly cash dividend of $0.10 per share to holders of the Company's common stock. The dividend is payable on July 31, 2023 to shareholders of record as of July 3, 2023. This represents a 5% increase in the dividend per share compared to the prior quarter and is the 39th quarterly dividend paid by the Company, which follows an uninterrupted 11 quarterly cash dividends paid by the Bank. Recent Insider Transactions • Jun 09
Chairman of the Board recently bought €106k worth of stock On the 2nd of June, William Hidalgo bought around 10k shares on-market at roughly €10.65 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months. New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Significant insider selling over the past 3 months (€0 sold). Reported Earnings • Apr 23
First quarter 2023 earnings released: EPS: US$0.39 (vs US$0.98 in 1Q 2022) First quarter 2023 results: EPS: US$0.39 (down from US$0.98 in 1Q 2022). Revenue: US$20.9m (down 26% from 1Q 2022). Net income: US$3.81m (down 62% from 1Q 2022). Profit margin: 18% (down from 36% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in Europe. Upcoming Dividend • Mar 23
Upcoming dividend of US$0.095 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €14.70, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 14% over the past year. Announcement • Feb 12
Investar Holding Corporation Announces Resignation of Robert M. Boyce, Sr. to Board of Directors On February 8, 2023, Robert M. Boyce, Sr. notified Investar Holding Corporation of his resignation from the Board of Directors of the Company (the “Board”), effective immediately. Mr. Boyce's decision to resign from the Board did not arise or result from any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$3.54 (vs US$0.77 in FY 2021) Full year 2022 results: EPS: US$3.54 (up from US$0.77 in FY 2021). Revenue: US$105.2m (up 44% from FY 2021). Net income: US$35.7m (up 348% from FY 2021). Profit margin: 34% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 5.2% growth forecast for the Banks industry in Europe. Announcement • Jan 07
Investar Holding Corporation Announces Executive Changes Investar Holding Corporation announced that Effective December 29, 2022, Candace J. LeBlanc, Executive Vice President and Chief Accounting Officer of Investar Holding Corporation and its wholly-owned subsidiary Investar Bank, at the conclusion of her maternity leave, resigned from her position to spend more time with her family. Also effective the same date, Corey E. Moore, was appointed as the Chief Accounting Officer of the Company and Bank.Mr. Moore, age 35, currently serves as the Senior Vice President and Senior Financial Officer of the Company and the Bank, a position he has held since joining the Company in June 2022. Immediately prior to joining the Company, Mr. Moore served as a Senior SEC Reporting Accountant with Diamondback Energy from October 2019 to May 2022. From 2018 to 2019, Mr. Moore served as an Assistant Controller at Mammoth Energy Services. Prior to that, he served as an auditor with Grant Thornton LLP. Mr. Moore has a Master of Science in Accountancy from Arizona State University and is a licensed Certified Public Accountant. Announcement • Dec 23
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on January 31, 2023 Investar Holding Corporation declared a quarterly cash dividend of $0.095 per share to holders of the Company's common stock. The dividend is payable on January 31, 2023 to shareholders of record as of January 2, 2023. This is the 37th quarterly dividend paid by the Company, which follows an uninterrupted 11 quarterly cash dividends paid by the Bank. Announcement • Nov 19
Investar Holding Corporation Announces Executive Changes Investar Holding Corporation on November 13, 2022, James M. Baker notified the Company of his resignation from the Board, effective immediately. Mr. Baker's decision to resign from the Board did not arise or result from any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. On November 16, 2022, upon recommendation of the Nominating and Governance Committee of the Board, the Board elected Rose J. Hudson to the Board to fill the vacancy created by Mr. Baker’s resignation and appointed her as a member of the Board’s Audit Committee. Ms. Hudson has served as a director of Investar Bank, the Company’s wholly-owned subsidiary since October 2020. The Board determined that Ms. Hudson is independent pursuant to the director independence standards established under the NASDAQ Stock Market listing rules and that she meets the additional requirements for service on the Company’s Audit Committee. Ms. Hudson will receive compensation for her Board and committee service in accordance with the Company’s standard compensation arrangements for non-employee directors, which are described in the Company’s definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 5, 2022 under the heading “Director Compensation. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 10 highly experienced directors. Independent Director Robert Jordan was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 03
Independent Director recently sold €78k worth of stock On the 28th of October, James Baker sold around 4k shares on-market at roughly €20.91 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €52k more than they bought in the last 12 months. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: US$0.73 (vs US$0.96 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.73 (up from US$0.96 loss in 3Q 2021). Revenue: US$25.0m (up US$23.1m from 3Q 2021). Net income: US$7.30m (up US$17.3m from 3Q 2021). Profit margin: 29% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Announcement • Sep 22
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on October 31, 2022 Investar Holding Corporation declared a quarterly cash dividend of $0.095 per share to holders of the Company's common stock. The dividend is payable on October 31, 2022 to shareholders of record as of September 30, 2022. This represents a 6% increase in the dividend per share compared to the prior quarter and is the 36th quarterly dividend paid by the Company. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.92 (vs US$0.55 in 2Q 2021) Second quarter 2022 results: EPS: US$0.92 (up from US$0.55 in 2Q 2021). Revenue: US$27.4m (up 9.1% from 2Q 2021). Net income: US$9.40m (up 66% from 2Q 2021). Profit margin: 34% (up from 23% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 23%, compared to a 20% growth forecast for the industry in Germany. Announcement • Jun 26
Investar Holding Corporation(NasdaqGM:ISTR) dropped from Russell Microcap Value Index Investar Holding Corporation(NasdaqGM:ISTR) dropped from Russell Microcap Value Index Upcoming Dividend • Jun 22
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (6.6%). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to €21.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 20% over the past year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 10 highly experienced directors. Independent Director Robert Jordan was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 22
Thomas C. Besselman, Sr. Notifies Investar Holding Corporation of His Resignation from the Board of Directors On April 18, 2022, Thomas C. Besselman, Sr. notified Investar Holding Corporation of his resignation from the Board of Directors of the Company, effective immediately, and his withdrawal as a director nominee for election at the 2022 Annual Meeting of Shareholders of the Company on May 18, 2022. Mr. Besselman’s decision to resign from the Board did not arise or result from any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. Announcement • Apr 20
Investar Holding Corporation announced that it has received $20 million in funding On April 19, 2022, Investar Holding Corporation closed the transaction. The transaction included participation from 14 investors. Announcement • Apr 06
Investar Holding Corporation, Annual General Meeting, May 18, 2022 Investar Holding Corporation, Annual General Meeting, May 18, 2022, at 15:00 Central Standard Time. Location: Investar Bank, 10500 Coursey Boulevard Third Floor, Baton Rouge Louisiana United States Agenda: To elect 12 directors, each to serve a one-year term; to ratify the appointment of Horne LLP as Investar Holding Corporation's independent registered public accounting firm for the 2022 fiscal year; to approve, on an advisory basis, the compensation of its named executive officers; and to transact such other business as may properly come before the annual meeting or any adjournments thereof. Upcoming Dividend • Mar 23
Upcoming dividend of US$0.085 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (5.8%). Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.77 (down from US$1.27 in FY 2020). Revenue: US$73.0m (down 2.0% from FY 2020). Net income: US$7.98m (down 42% from FY 2020). Profit margin: 11% (down from 19% in FY 2020). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.53% (up from 3.49% in FY 2020). Cost-to-income ratio: 65.8% (down from 66.7% in FY 2020). Non-performing loans: 1.58% (up from 0.74% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 27%, compared to a 9.0% growth forecast for the banks industry in Germany. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.77 (down from US$1.27 in FY 2020). Revenue: US$73.0m (down 2.0% from FY 2020). Net income: US$8.00m (down 42% from FY 2020). Profit margin: 11% (down from 19% in FY 2020). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 30%, compared to a 11% growth forecast for the banks industry in Germany. Reported Earnings • Oct 23
Third quarter 2021 earnings released: US$0.95 loss per share (vs US$0.41 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$3.75m (down 81% from 3Q 2020). Net loss: US$9.98m (down 325% from profit in 3Q 2020). Upcoming Dividend • Sep 22
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 29 October 2021. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.4%). Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS US$0.54 (vs US$0.39 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$25.1m (up 27% from 2Q 2020). Net income: US$5.69m (up 34% from 2Q 2020). Profit margin: 23% (up from 22% in 2Q 2020). The increase in margin was driven by higher revenue. Executive Departure • Jul 15
Executive VP, Chief Credit Officer & Chief Risk Management Officer Travis Lavergne has left the company On the 9th of July, Travis Lavergne's tenure as Executive VP, Chief Credit Officer & Chief Risk Management Officer ended after 8.4 years in the role. As of March 2021, Travis still personally held 9.28k shares (€163k worth at the time). Travis is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.75 years. Reported Earnings • May 10
First quarter 2021 earnings released: EPS US$0.51 (vs US$0.054 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$21.6m (up 47% from 1Q 2020). Net income: US$5.34m (up US$4.74m from 1Q 2020). Profit margin: 25% (up from 4.1% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS US$0.51 (vs US$0.054 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$21.6m (up 47% from 1Q 2020). Net income: US$5.36m (up US$4.76m from 1Q 2020). Profit margin: 25% (up from 4.1% in 1Q 2020). The increase in margin was driven by higher revenue. Announcement • Mar 19
Investar Holding Corporation Declares Quarterly Cash Dividend, Payable on April 30, 2021 Investar Holding Corporation declared a quarterly cash dividend of $0.07 per share to holders of Investar Holding Corporation common stock. The dividend is payable on April 30, 2021 to shareholders of record as of March 29, 2021. This represents an 8% increase in the dividend per share compared to the prior quarter and is the 30th quarterly dividend paid by Investar Holding Corporation, which follows an uninterrupted 11 quarterly cash dividends paid by Investar Bank. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS US$1.27 (vs US$1.68 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$74.5m (up 7.7% from FY 2019). Net income: US$13.8m (down 17% from FY 2019). Profit margin: 19% (down from 24% in FY 2019). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 3.49% (down from 3.51% in FY 2019). Cost-to-income ratio: 66.7% (down from 67.8% in FY 2019). Non-performing loans: 0.74% (up from 0.37% in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 28%, compared to a 29% growth forecast for the Banks industry in Germany. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 17% share price gain to US$16.37, the stock is trading at a trailing P/E ratio of 16x, up from the previous P/E ratio of 13.7x. This compares to an average P/E of 12x in the Banks industry in Europe. Analyst Estimate Surprise Post Earnings • Jan 26
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 14%, compared to a 23% growth forecast for the Banks industry in Germany. Announcement • Jan 26
Investar Holding Corporation (NasdaqGM:ISTR) entered into a definitive agreement to acquire Cheaha Financial Group, Inc. for $41.1 million. Investar Holding Corporation (NasdaqGM:ISTR) entered into a definitive agreement to acquire Cheaha Financial Group, Inc. for $41.1 million on January 21, 2021. Under the terms of agreement, Investor will pay $80 per share for Cheaha Financial. Immediately following the transaction, Cheaha will be merged with and into Investar, with Investar as the surviving corporation. Cheaha will transition to the Investar Bank name, post completion. In case of termination by Cheaha, Investar will receive a fee of $1.235 million, and if the agreement is terminated by Investar, Cheaha will receive a fee of $1 million. The transaction represents a earnings (LTM) multiple of 13.6x. Cheaha staff is expected to remain substantially intact after completion.
The transaction is subject to customary conditions, including regulatory approvals, minimum balance sheet requirement and approval by the shareholders of Cheaha. The Boards of Directors of both Cheaha and Investar unanimously approved the transaction. The transaction is expected to close in early second quarter of 2021. Stephanie E. Kalahurka of Fenimore, Kay, Harrison & Ford, LLP acted as legal advisor and Janney Montgomery Scott LLC acted as financial advisor to Investar. Jennifer R. McCain of Maynard Cooper & Gale, P.C. acted as legal and National Capital, L.L.C. acted as financial advisor to Cheaha. 
