NASDAQ: ISTR
Investar Holding CorpCIK 0001602658 · SIC 6022 · State Savings Banks
Investar Holding Corporation, a Louisiana corporation incorporated in 2009, is a financial holding company headquartered in Baton Rouge, Louisiana that conducts its operations primarily through its wholly-owned subsidiary, Investar Bank, National Association, a national bank chartered by the OCC.… About this business →
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net income $9.5M. Investar completes WFB acquisition, adding in assets and 68bp margin gain
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Investar reports Q2 2026 EPS of $0.61, net interest margin expands to 3.67%
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Investar replaces auditor BDO with Wipfli after seven-month tenure
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Investar shareholders approve amended equity plan authorizing 1.8M shares for compensation
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net income $12.0M. Investar completes WFB acquisition, adding in assets and 72bp margin expansion
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Investar Holding reports Q1 2026 earnings, posts investor presentation
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Investar files audited financials for Wichita Falls Bancshares acquisition
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ISTR: net income $22.9M. ISTR completes WFB acquisition, issues preferred stock, expands to north Texas
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(Amounts in thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| INTEREST INCOME | ||||
| Interest and fees on loans | 47,715 | 31,140 | 95,669 | 61,692 |
| Interest on investment securities: | ||||
| Taxable | 3,790 | 2,961 | 7,162 | 5,640 |
| Tax-exempt | 743 | 665 | 1,484 | 1,336 |
| Other interest income | 951 | 593 | 2,088 | 1,125 |
| Total interest income | 53,199 | 35,359 | 106,403 | 69,793 |
| INTEREST EXPENSE | ||||
| Interest on deposits | 17,496 | 14,456 | 36,206 | 29,096 |
| Interest on borrowings | 2,254 | 1,259 | 4,088 | 2,708 |
| Total interest expense | 19,750 | 15,715 | 40,294 | 31,804 |
| Net interest income | 33,449 | 19,644 | 66,109 | 37,989 |
| Provision for (reversal of) credit losses | 275 | 141 | (1,833) | (3,455) |
| Net interest income after provision for (reversal of) credit losses | 33,174 | 19,503 | 67,942 | 41,444 |
| NONINTEREST INCOME | ||||
| Service charges on deposit accounts | 933 | 788 | 1,889 | 1,583 |
| Gain on call or sale of investment securities, net | 12 | — | 12 | — |
| Loss on sale or disposition of bank premises and equipment, net | — | — | — | (3) |
| Gain (loss) on sale of other real estate owned, net | 4 | 29 | (80) | 29 |
| Gain on sale of loans | — | — | 26 | — |
| Interchange fees | 524 | 401 | 1,083 | 791 |
| Income from bank owned life insurance | 696 | 476 | 1,360 | 924 |
| Change in the fair value of equity securities | 177 | 53 | 307 | (23) |
| Other operating income | 752 | 879 | 1,481 | 1,336 |
| Total noninterest income | 3,098 | 2,626 | 6,078 | 4,637 |
| NONINTEREST EXPENSE | ||||
| Depreciation and amortization | 1,333 | 710 | 2,677 | 1,431 |
| Salaries and employee benefits | 13,430 | 10,257 | 26,377 | 19,860 |
| Occupancy | 955 | 675 | 1,943 | 1,316 |
| Data processing | 1,223 | 914 | 2,437 | 1,811 |
| Marketing | 130 | 112 | 229 | 223 |
| Professional fees | 924 | 468 | 1,723 | 1,059 |
| Acquisition expense | 2,582 | 182 | 4,310 | 341 |
| Other operating expenses | 4,087 | 3,382 | 7,807 | 6,897 |
| Total noninterest expense | 24,664 | 16,700 | 47,503 | 32,938 |
| Income before income tax expense | 11,608 | 5,429 | 26,517 | 13,143 |
| Income tax expense | 2,136 | 935 | 5,021 | 2,356 |
| Net income | 9,472 | 4,494 | 21,496 | 10,787 |
| Preferred stock dividends declared | 528 | — | 1,056 | — |
| Net income available to common shareholders | 8,944 | 4,494 | 20,440 | 10,787 |
| EARNINGS PER COMMON SHARE | ||||
| Basic earnings per common share | 0.64 | 0.46 | 1.48 | 1.10 |
| Diluted earnings per common share | 0.61 | 0.46 | 1.38 | 1.09 |
Consolidated Balance Sheets
(Amounts in thousands, except share data)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | 31,758 | 26,606 |
| Interest-bearing balances due from other banks | 40,545 | 14,899 |
| Cash and cash equivalents | 72,303 | 41,505 |
| Available for sale securities at fair value (amortized cost of $459,375 and $416,002, respectively) | 411,326 | 370,614 |
| Held to maturity securities at amortized cost (fair value of $49,450 and $50,540, respectively) | 47,217 | 48,199 |
| Loans | 3,059,887 | 2,175,973 |
| Less: allowance for credit losses | (36,251) | (26,349) |
| Loans, net | 3,023,636 | 2,149,624 |
| Equity securities at fair value | 4,111 | 3,354 |
| Nonmarketable equity securities | 23,759 | 17,021 |
| Bank premises and equipment, net of accumulated depreciation of $25,268 and $23,836, respectively | 59,907 | 39,534 |
| Other real estate owned, net | 4,747 | 3,374 |
| Accrued interest receivable | 18,887 | 14,289 |
| Deferred tax asset | 15,183 | 14,050 |
| Goodwill and other intangible assets, net | 71,704 | 41,184 |
| Bank owned life insurance | 84,299 | 69,188 |
| Other assets | 24,594 | 21,112 |
| Total assets | 3,861,673 | 2,833,048 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing | 621,870 | 445,986 |
| Interest-bearing | 2,592,016 | 1,904,263 |
| Total deposits | 3,213,886 | 2,350,249 |
| Advances from Federal Home Loan Bank | 136,000 | 116,000 |
| Repurchase agreements | 18,575 | 11,183 |
| Subordinated debt, net of unamortized issuance costs | 16,759 | 16,738 |
| Junior subordinated debt | 22,994 | 8,830 |
| Accrued taxes and other liabilities | 33,327 | 28,975 |
| Total liabilities | 3,441,541 | 2,531,975 |
| Commitments and contingencies (Note 12) | ||
| STOCKHOLDERS’ EQUITY | ||
| 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 June 30, 2026 and December 31, 2025 | 30,353 | 30,353 |
| Common stock, $1.00 par value per share; 40,000,000 shares authorized; 13,777,385 and 9,798,948 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 13,777 | 9,799 |
| Surplus | 246,033 | 146,133 |
| Retained earnings | 167,784 | 150,510 |
| Accumulated other comprehensive loss | (37,815) | (35,722) |
| Total stockholders’ equity | 420,132 | 301,073 |
| Total liabilities and stockholders’ equity | 3,861,673 | 2,833,048 |
Consolidated Statements of Cash Flows (Unaudited)
(Amounts in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Net income: | 21,496 | 10,787 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,677 | 1,431 |
| Reversal of credit losses | (1,833) | (3,455) |
| Net (accretion) amortization of purchase accounting adjustments | (5,889) | 26 |
| Provision for other real estate owned | 75 | 296 |
| Net accretion of securities | (827) | (200) |
| Gain on call or sale of investment securities, net | (12) | — |
| Loss on sale or disposition of bank premises and equipment, net | — | 3 |
| Loss (gain) on sale of other real estate owned, net | 80 | (29) |
| Gain on sale of loans | (26) | — |
| FHLB stock dividend | (165) | (146) |
| Stock-based compensation | 990 | 964 |
| Deferred taxes | 2,685 | (28) |
| Net change in value of BOLI | (1,360) | (924) |
| Amortization of subordinated debt issuance costs | 21 | 21 |
| Change in the fair value of equity securities | (307) | 23 |
| Net change in: | ||
| Accrued interest receivable | 588 | 395 |
| Other assets | (3,023) | (585) |
| Accrued taxes and other liabilities | 1,217 | (923) |
| Net cash provided by operating activities | 16,387 | 7,656 |
| Cash flows from investing activities: | ||
| Proceeds from sales of investment securities AFS | 50,481 | — |
| Purchases of securities AFS | (225,270) | (39,610) |
| Proceeds from maturities, prepayments and calls of investment securities AFS | 183,375 | 23,777 |
| Proceeds from maturities, prepayments and calls of investment securities HTM | 1,319 | 1,156 |
| Proceeds from redemption or sale of nonmarketable equity securities | 2,890 | 2,315 |
| Purchases of nonmarketable equity securities | (5,833) | (748) |
| Purchases of equity securities at fair value | (450) | — |
| Net decrease in loans | 81,106 | 21,147 |
| Proceeds from sales of other real estate owned | 839 | 272 |
| Purchases of bank premises and equipment | (1,198) | (431) |
| Purchases of other investments | (102) | (80) |
| Distributions from other investments | 298 | 117 |
| Cash acquired from acquisition of Wichita Falls Bancshares, Inc., net of cash paid | 75,708 | — |
| Net cash provided by investing activities | 163,163 | 7,915 |
| Cash flows from financing activities: | ||
| Net decrease in customer deposits | (159,161) | (7,752) |
| Net increase in repurchase agreements | 6,199 | 2,647 |
| Net increase in short-term FHLB advances | — | 2,785 |
| Proceeds from long-term FHLB advances | 60,000 | — |
| Repayment of long-term FHLB advances | (40,064) | — |
| Cash dividends paid on common stock | (2,590) | (2,063) |
| Cash dividends paid on preferred stock | (1,056) | — |
| Proceeds from stock options exercised | 374 | 63 |
| Payments to repurchase common stock | (2,310) | (1,283) |
| Advanced proceeds from preferred stock offering | — | 17,334 |
| Repayment of long-term debt | (10,120) | — |
| Payments of stock issuance costs | (24) | — |
| Net cash (used in) provided by financing activities | (148,752) | 11,731 |
| Net change in cash and cash equivalents | 30,798 | 27,302 |
| Cash and cash equivalents, beginning of period | 41,505 | 27,922 |
| Cash and cash equivalents, end of period | 72,303 | 55,224 |
| SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES | ||
| Transfer from loans to other real estate owned | 2,367 | 951 |
| Common stock dividends payable | 1,653 | 1,082 |
| Preferred stock dividends payable | 528 | — |
Amounts as printed on the EDGAR/iXBRL face — (Amounts in thousands, except per share data); (Amounts in thousands, except share data); (Amounts in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About Investar Holding Corp
Source: Item 1 (Business) from the 10-K filed March 16, 2026. Description as filed by the company with the SEC.
Item 1. Business
General
Investar Holding Corporation, a Louisiana corporation incorporated in 2009, is a financial holding company headquartered in Baton Rouge, Louisiana that conducts its operations primarily through its wholly-owned subsidiary, Investar Bank, National Association, a national bank chartered by the OCC. The Bank was originally chartered as a Louisiana commercial bank in 2006 and converted to a national bank in July 2019. Through the Bank, the Company offers a wide range of commercial banking products tailored to meet the needs of individuals, professionals, and small to medium-sized businesses. Our primary areas of operation are south Louisiana, including Baton Rouge, New Orleans, Lafayette, Lake Charles, and their surrounding areas; Texas, including Houston and its surrounding area, and, as of January 1, 2026, north Dallas and Wichita Falls and their surrounding areas; and Alabama, including York and Oxford and their surrounding areas. These markets are served from our executive and operations center located in Baton Rouge and from 36 full-service branches located throughout our market areas. We have experienced significant growth since the Bank was chartered, completing eight whole-bank acquisitions and establishing additional branches in our market areas.
As of December 31, 2025, on a consolidated basis, the Company had total assets of $2.8 billion, net loans of $2.1 billion, total deposits of $2.4 billion, and stockholders’ equity of $301.1 million.
Our strategy focuses on consistent, quality earnings through the optimization of our balance sheet by originating and renewing high quality, primarily variable-rate, loans and allowing higher risk credit relationships to run off. Our strategy also includes growth through acquisitions, including whole-bank acquisitions, strategic branch acquisitions and asset acquisitions. Over time, management believes that we have significant opportunities for growth and franchise expansion, both organically and through strategic acquisitions. Although the financial services industry is rapidly changing and intensely competitive, and likely to remain so, we believe that the Bank competes effectively as a local community bank and possesses the availability of local access and responsive customer service, coupled with competitively-priced products and services, necessary to successfully compete with other financial institutions for individual and small to medium-sized business customers.
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All cross-references to the “Notes” in this Form 10-K refer to the Notes to Consolidated Financial Statements contained in Item 8. Financial Statements and Supplementary Data. The information set forth in this Annual Report on Form 10-K is as of March 16, 2026, unless otherwise indicated herein.
Operations
General. We offer a full range of commercial and retail lending products throughout our market areas, including business loans to small to medium-sized businesses as well as loans to individuals. Our business lending products include owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while our loans to individuals include first and second mortgage loans, installment loans, and lines of credit. For business customers, we target small to medium-sized businesses and professional organizations such as law firms, accounting firms and medical practices.
Management considers all of our operations to be aggregated in one reportable operating segment. For additional information regarding segment reporting, see Note 1. Summary of Significant Accounting Policies – Segment Reporting.
Lending Activities. Income generated by our lending activities represents a substantial portion of our total revenue. For the years ended December 31, 2025, 2024 and 2023, income from our lending activities comprised 83%, 81% and 84%, respectively, of our total revenue. Over the last three fiscal years, we have increased our focus on commercial real estate loans and commercial and industrial loans.
Lending to Businesses. Our lending to small to medium-sized businesses falls into three general categories for the years ended December 31, 2025, 2024 and 2023:
•
Commercial real estate loans. Approximately 48% of our total loans at December 31, 2025 were commercial real estate loans, which include multifamily, farmland and commercial real estate loans, with owner-occupied loans comprising approximately 44% of the commercial real estate loan portfolio. Commercial real estate loan terms generally are 10 years or less, although payments may be structured on a longer amortization basis. Interest rates may be fixed or adjustable, although rates typically will not be fixed for a period exceeding 120 months, and we generally charge an origination fee. Risks associated with commercial real estate loans include, among other things, fluctuations in the value of real estate, new job creation trends, tenant vacancy rates, and the quality of the borrower’s management. We attempt to limit risk by analyzing a borrower’s cash flow and collateral value on an ongoing basis. The loans are primarily secured by commercial real estate. Also, we typically require personal guarantees from the principal owners of the property, supported by a review of their personal financial statements, as an additional means of mitigating our risk. We also manage risk by avoiding concentrations in any one business or industry. For further discussion see “Commercial real estate loans may expose us to greater risks than our other real estate loans.” in