Louisiana
|
001-36522
|
27-1560715
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(I.R.S. Employer
Identification No.)
|
|
7244 Perkins Road
Baton Rouge, Louisiana 70808
|
|
|
(Address of principal executive offices) (Zip Code)
|
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02
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Results of Operations and Financial Condition.
|
Item 9.01
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Financial Statements and Exhibits.
|
Exhibit Number
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|
Description of Exhibit
|
|
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|
|
|
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INVESTAR HOLDING CORPORATION
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||
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|
|||
Date: April 26, 2018
|
|
|
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By:
|
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/s/ John J. D’Angelo
|
|
|
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John J. D’Angelo
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President and Chief Executive Officer
|
•
|
Total revenues, or interest and noninterest income, for the quarter ended
March 31, 2018
totaled $18.2 million, an increase of $1.3 million, or 7.8%, compared to
December 31, 2017
, and an increase of $6.3 million, or 52.4%, compared to
March 31, 2017
.
|
•
|
Total loans increased $14.2 million, or 1.1%, to $1.27 billion at
March 31, 2018
, compared to $1.26 billion at
December 31, 2017
, and increased $370.8 million, or 41.1%, compared to $902.1 million at
March 31, 2017
.
|
•
|
Noninterest-bearing deposits increased
$5.3 million
, or
2.4%
, to
$221.9 million
at
March 31, 2018
, compared to
$216.6 million
at
December 31, 2017
, and increased $109.4 million, or
97.2%
, compared to
$112.5 million
at
March 31, 2017
.
|
•
|
Net interest margin increased fifteen basis points to 3.70% for the quarter ended
March 31, 2018
, compared to 3.55% for the quarter ended
December 31, 2017
, and increased forty-three basis points from 3.27% for the quarter ended
March 31, 2017
.
|
•
|
Cost of deposits decreased one basis point to 0.91% for the quarter ended
March 31, 2018
, compared to 0.92% for the quarter ended
December 31, 2017
, and decreased six basis points compared to 0.97% for the quarter ended
March 31, 2017
.
|
•
|
The Company completed the conversion of branch and operating systems associated with the BOJ Bancshares, Inc. acquisition during the quarter.
|
•
|
The Company repurchased 27,933 shares of its common stock through its stock repurchase program at an average price of $24.11 during the quarter ended
March 31, 2018
.
|
|
|
|
|
|
|
|
|
Linked Quarter Change
|
|
Year/Year Change
|
|
Percentage of Total Loans
|
||||||||||||||||||||
|
|
3/31/2018
|
|
12/31/2017
|
|
3/31/2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|
3/31/2018
|
|
3/31/2017
|
||||||||||||||
Mortgage loans on real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
||||||||||||||
Construction and development
|
|
$
|
162,337
|
|
|
$
|
157,667
|
|
|
$
|
95,541
|
|
|
$
|
4,670
|
|
|
3.0
|
%
|
|
$
|
66,796
|
|
|
69.9
|
%
|
|
12.8
|
%
|
|
10.6
|
%
|
1-4 Family
|
|
277,978
|
|
|
276,922
|
|
|
172,148
|
|
|
1,056
|
|
|
0.4
|
|
|
105,830
|
|
|
61.5
|
|
|
21.8
|
|
|
19.1
|
|
|||||
Multifamily
|
|
54,504
|
|
|
51,283
|
|
|
47,776
|
|
|
3,221
|
|
|
6.3
|
|
|
6,728
|
|
|
14.1
|
|
|
4.3
|
|
|
5.3
|
|
|||||
Farmland
|
|
20,725
|
|
|
23,838
|
|
|
7,994
|
|
|
(3,113
|
)
|
|
(13.1
|
)
|
|
12,731
|
|
|
159.3
|
|
|
1.6
|
|
|
0.9
|
|
|||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Owner-occupied
|
|
274,216
|
|
|
272,433
|
|
|
181,590
|
|
|
1,783
|
|
|
0.7
|
|
|
92,626
|
|
|
51.0
|
|
|
21.5
|
|
|
20.1
|
|
|||||
Nonowner-occupied
|
|
279,939
|
|
|
264,931
|
|
|
210,874
|
|
|
15,008
|
|
|
5.7
|
|
|
69,065
|
|
|
32.8
|
|
|
22.0
|
|
|
23.4
|
|
|||||
Commercial and industrial
|
|
135,965
|
|
|
135,392
|
|
|
90,352
|
|
|
573
|
|
|
0.4
|
|
|
45,613
|
|
|
50.5
|
|
|
10.7
|
|
|
10.0
|
|
|||||
Consumer
|
|
67,286
|
|
|
76,313
|
|
|
95,873
|
|
|
(9,027
|
)
|
|
(11.8
|
)
|
|
(28,587
|
)
|
|
(29.8
|
)
|
|
5.3
|
|
|
10.6
|
|
|||||
Total loans
|
|
1,272,950
|
|
|
1,258,779
|
|
|
902,148
|
|
|
14,171
|
|
|
1.1
|
%
|
|
370,802
|
|
|
41.1
|
%
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
|
|
|
Linked Quarter Change
|
|
Year/Year Change
|
|
Percentage of
Total Deposits |
||||||||||||||||||||
|
|
3/31/2018
|
|
12/31/2017
|
|
3/31/2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|
3/31/2018
|
|
3/31/2017
|
||||||||||||||
Noninterest-bearing demand deposits
|
|
$
|
221,855
|
|
|
$
|
216,599
|
|
|
$
|
112,514
|
|
|
$
|
5,256
|
|
|
2.4
|
%
|
|
$
|
109,341
|
|
|
97.2
|
%
|
|
18.1
|
%
|
|
13.0
|
%
|
NOW accounts
|
|
228,269
|
|
|
208,683
|
|
|
168,860
|
|
|
19,586
|
|
|
9.4
|
|
|
59,409
|
|
|
35.2
|
|
|
18.6
|
|
|
19.4
|
|
|||||
Money market deposit accounts
|
|
145,627
|
|
|
146,140
|
|
|
124,604
|
|
|
(513
|
)
|
|
(0.4
|
)
|
|
21,023
|
|
|
16.9
|
|
|
11.9
|
|
|
14.3
|
|
|||||
Savings accounts
|
|
124,589
|
|
|
117,372
|
|
|
52,682
|
|
|
7,217
|
|
|
6.1
|
|
|
71,907
|
|
|
136.5
|
|
|
10.1
|
|
|
6.1
|
|
|||||
Time deposits
|
|
506,332
|
|
|
536,443
|
|
|
409,894
|
|
|
(30,111
|
)
|
|
(5.6
|
)
|
|
96,438
|
|
|
23.5
|
|
|
41.3
|
|
|
47.2
|
|
|||||
Total deposits
|
|
$
|
1,226,672
|
|
|
$
|
1,225,237
|
|
|
$
|
868,554
|
|
|
$
|
1,435
|
|
|
0.1
|
%
|
|
$
|
358,118
|
|
|
41.2
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
•
|
business and economic conditions generally and in the financial services industry in particular, whether nationally, regionally or in the markets in which we operate;
|
•
|
our ability to achieve organic loan and deposit growth, and the composition of that growth;
|
•
|
changes (or the lack of changes) in interest rates, yield curves and interest rate spread relationships that affect our loan and deposit pricing;
|
•
|
the extent of continuing client demand for the high level of personalized service that is a key element of our banking approach as well as our ability to execute our strategy generally;
|
•
|
our dependence on our management team, and our ability to attract and retain qualified personnel;
|
•
|
changes in the quality or composition of our loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers;
|
•
|
inaccuracy of the assumptions and estimates we make in establishing reserves for probable loan losses and other estimates;
|
•
|
the concentration of our business within our geographic areas of operation in Louisiana; and
|
•
|
concentration of credit exposure.
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
CONSOLIDATED BALANCE SHEETS
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
March 31, 2018
|
|
December 31, 2017
|
|
March 31, 2017
|
||||||
ASSETS
|
|
|
|
|
|
|
||||||
Cash and due from banks
|
|
$
|
13,409
|
|
|
$
|
19,619
|
|
|
$
|
8,043
|
|
Interest-bearing balances due from other banks
|
|
7,623
|
|
|
10,802
|
|
|
18,600
|
|
|||
Federal funds sold
|
|
70
|
|
|
—
|
|
|
—
|
|
|||
Cash and cash equivalents
|
|
21,102
|
|
|
30,421
|
|
|
26,643
|
|
|||
|
|
|
|
|
|
|
||||||
Available for sale securities at fair value (amortized cost of $237,672, $220,077, and $176,363, respectively)
|
|
232,873
|
|
|
217,564
|
|
|
174,139
|
|
|||
Held to maturity securities at amortized cost (estimated fair value of $17,479, $17,947, and $19,422, respectively)
|
|
17,727
|
|
|
17,997
|
|
|
19,648
|
|
|||
Loans, net of allowance for loan losses of $8,130, $7,891, and $7,243, respectively
|
|
1,264,820
|
|
|
1,250,888
|
|
|
894,905
|
|
|||
Other equity securities
|
|
10,148
|
|
|
9,798
|
|
|
6,320
|
|
|||
Bank premises and equipment, net of accumulated depreciation of $8,300, $7,825, and $7,117, respectively
|
|
38,091
|
|
|
37,540
|
|
|
31,434
|
|
|||
Other real estate owned, net
|
|
4,266
|
|
|
3,837
|
|
|
4,045
|
|
|||
Accrued interest receivable
|
|
4,707
|
|
|
4,688
|
|
|
3,243
|
|
|||
Deferred tax asset
|
|
1,496
|
|
|
1,294
|
|
|
2,601
|
|
|||
Goodwill and other intangible assets, net
|
|
20,141
|
|
|
19,926
|
|
|
3,224
|
|
|||
Bank-owned life insurance
|
|
23,382
|
|
|
23,231
|
|
|
7,248
|
|
|||
Other assets
|
|
5,435
|
|
|
5,550
|
|
|
2,385
|
|
|||
Total assets
|
|
$
|
1,644,188
|
|
|
$
|
1,622,734
|
|
|
$
|
1,175,835
|
|
|
|
|
|
|
|
|
||||||
LIABILITIES
|
|
|
|
|
|
|
||||||
Deposits
|
|
|
|
|
|
|
||||||
Noninterest-bearing
|
|
$
|
221,855
|
|
|
$
|
216,599
|
|
|
$
|
112,514
|
|
Interest-bearing
|
|
1,004,817
|
|
|
1,008,638
|
|
|
756,040
|
|
|||
Total deposits
|
|
1,226,672
|
|
|
1,225,237
|
|
|
868,554
|
|
|||
Advances from Federal Home Loan Bank
|
|
187,066
|
|
|
166,658
|
|
|
82,413
|
|
|||
Repurchase agreements
|
|
21,053
|
|
|
21,935
|
|
|
36,361
|
|
|||
Subordinated debt
|
|
18,180
|
|
|
18,168
|
|
|
18,133
|
|
|||
Junior subordinated debt
|
|
5,806
|
|
|
5,792
|
|
|
3,609
|
|
|||
Other borrowings
|
|
—
|
|
|
—
|
|
|
78
|
|
|||
Accrued taxes and other liabilities
|
|
11,981
|
|
|
12,215
|
|
|
18,351
|
|
|||
Total liabilities
|
|
1,470,758
|
|
|
1,450,005
|
|
|
1,027,499
|
|
|||
|
|
|
|
|
|
|
||||||
STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
|
||||||
Preferred stock, no par value per share; 5,000,000 shares authorized
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Common stock, $1.00 par value per share; 40,000,000 shares authorized; 9,517,328, 9,514,926, and 8,805,810 shares outstanding, respectively
|
|
9,517
|
|
|
9,515
|
|
|
8,806
|
|
|||
Surplus
|
|
131,179
|
|
|
131,582
|
|
|
112,927
|
|
|||
Retained earnings
|
|
35,829
|
|
|
33,203
|
|
|
27,916
|
|
|||
Accumulated other comprehensive loss
|
|
(3,095
|
)
|
|
(1,571
|
)
|
|
(1,313
|
)
|
|||
Total stockholders’ equity
|
|
173,430
|
|
|
172,729
|
|
|
148,336
|
|
|||
Total liabilities and stockholders’ equity
|
|
$
|
1,644,188
|
|
|
$
|
1,622,734
|
|
|
$
|
1,175,835
|
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
CONSOLIDATED STATEMENTS OF INCOME
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
For the three months ended
|
||||||||||
|
|
March 31, 2018
|
|
December 31, 2017
|
|
March 31, 2017
|
||||||
INTEREST INCOME
|
|
|
|
|
|
|
||||||
Interest and fees on loans
|
|
$
|
15,626
|
|
|
$
|
14,407
|
|
|
$
|
10,004
|
|
Interest on investment securities
|
|
1,459
|
|
|
1,428
|
|
|
1,029
|
|
|||
Other interest income
|
|
93
|
|
|
132
|
|
|
60
|
|
|||
Total interest income
|
|
17,178
|
|
|
15,967
|
|
|
11,093
|
|
|||
|
|
|
|
|
|
|
||||||
INTEREST EXPENSE
|
|
|
|
|
|
|
||||||
Interest on deposits
|
|
2,253
|
|
|
2,233
|
|
|
1,853
|
|
|||
Interest on borrowings
|
|
1,067
|
|
|
917
|
|
|
380
|
|
|||
Total interest expense
|
|
3,320
|
|
|
3,150
|
|
|
2,233
|
|
|||
Net interest income
|
|
13,858
|
|
|
12,817
|
|
|
8,860
|
|
|||
|
|
|
|
|
|
|
||||||
Provision for loan losses
|
|
625
|
|
|
395
|
|
|
350
|
|
|||
Net interest income after provision for loan losses
|
|
13,233
|
|
|
12,422
|
|
|
8,510
|
|
|||
|
|
|
|
|
|
|
||||||
NONINTEREST INCOME
|
|
|
|
|
|
|
||||||
Service charges on deposit accounts
|
|
359
|
|
|
293
|
|
|
97
|
|
|||
Gain on sale of investment securities, net
|
|
—
|
|
|
50
|
|
|
106
|
|
|||
Gain (loss) on sale of fixed assets, net
|
|
90
|
|
|
(57
|
)
|
|
23
|
|
|||
(Loss) gain on sale of other real estate owned, net
|
|
—
|
|
|
(5
|
)
|
|
5
|
|
|||
Servicing fees and fee income on serviced loans
|
|
288
|
|
|
329
|
|
|
423
|
|
|||
Other operating income
|
|
335
|
|
|
352
|
|
|
231
|
|
|||
Total noninterest income
|
|
1,072
|
|
|
962
|
|
|
885
|
|
|||
Income before noninterest expense
|
|
14,305
|
|
|
13,384
|
|
|
9,395
|
|
|||
|
|
|
|
|
|
|
||||||
NONINTEREST EXPENSE
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
598
|
|
|
556
|
|
|
376
|
|
|||
Salaries and employee benefits
|
|
6,048
|
|
|
5,486
|
|
|
3,950
|
|
|||
Occupancy
|
|
380
|
|
|
324
|
|
|
264
|
|
|||
Data processing
|
|
542
|
|
|
521
|
|
|
368
|
|
|||
Marketing
|
|
38
|
|
|
151
|
|
|
28
|
|
|||
Professional fees
|
|
255
|
|
|
224
|
|
|
232
|
|
|||
Acquisition expenses
|
|
1,104
|
|
|
819
|
|
|
145
|
|
|||
Other operating expenses
|
|
1,597
|
|
|
1,527
|
|
|
1,321
|
|
|||
Total noninterest expense
|
|
10,562
|
|
|
9,608
|
|
|
6,684
|
|
|||
Income before income tax expense
|
|
3,743
|
|
|
3,776
|
|
|
2,711
|
|
|||
Income tax expense
|
|
1,341
|
|
|
1,492
|
|
|
847
|
|
|||
Net income
|
|
$
|
2,402
|
|
|
$
|
2,284
|
|
|
$
|
1,864
|
|
|
|
|
|
|
|
|
||||||
EARNINGS PER SHARE
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
|
$
|
0.25
|
|
|
$
|
0.25
|
|
|
$
|
0.26
|
|
Diluted earnings per share
|
|
$
|
0.25
|
|
|
$
|
0.25
|
|
|
$
|
0.26
|
|
Cash dividends declared per common share
|
|
$
|
0.04
|
|
|
$
|
0.03
|
|
|
$
|
0.02
|
|
INVESTAR HOLDING CORPORATION
|
|||||||||||||||||||||||||||||||||
CONSOLIDATED AVERAGE BALANCE SHEET, INTEREST EARNED AND YIELD ANALYSIS
|
|||||||||||||||||||||||||||||||||
(Amounts in thousands)
|
|||||||||||||||||||||||||||||||||
(Unaudited)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
For the three months ended
|
|||||||||||||||||||||||||||||||
|
|
March 31, 2018
|
|
December 31, 2017
|
|
March 31, 2017
|
|||||||||||||||||||||||||||
|
|
Average
Balance |
|
Interest
Income/ Expense |
|
Yield/ Rate
|
|
Average
Balance |
|
Interest
Income/ Expense |
|
Yield/ Rate
|
|
Average
Balance |
|
Interest
Income/ Expense |
|
Yield/ Rate
|
|||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Loans
|
|
$
|
1,261,047
|
|
|
$
|
15,626
|
|
|
5.03
|
%
|
|
$
|
1,169,686
|
|
|
$
|
14,407
|
|
|
4.89
|
%
|
|
$
|
892,546
|
|
|
$
|
10,004
|
|
|
4.55
|
%
|
Securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Taxable
|
|
206,722
|
|
|
1,253
|
|
|
2.46
|
|
|
203,011
|
|
|
1,221
|
|
|
2.39
|
|
|
150,139
|
|
|
839
|
|
|
2.27
|
|
||||||
Tax-exempt
|
|
34,688
|
|
|
206
|
|
|
2.41
|
|
|
35,060
|
|
|
207
|
|
|
2.34
|
|
|
30,540
|
|
|
190
|
|
|
2.52
|
|
||||||
Interest-bearing balances with banks
|
|
15,968
|
|
|
93
|
|
|
2.37
|
|
|
26,407
|
|
|
132
|
|
|
1.98
|
|
|
24,591
|
|
|
60
|
|
|
0.99
|
|
||||||
Total interest-earning assets
|
|
1,518,425
|
|
|
17,178
|
|
|
4.59
|
|
|
1,434,164
|
|
|
15,967
|
|
|
4.42
|
|
|
1,097,816
|
|
|
11,093
|
|
|
4.10
|
|
||||||
Cash and due from banks
|
|
25,526
|
|
|
|
|
|
|
22,520
|
|
|
|
|
|
|
8,546
|
|
|
|
|
|
||||||||||||
Intangible assets
|
|
19,881
|
|
|
|
|
|
|
15,655
|
|
|
|
|
|
|
3,227
|
|
|
|
|
|
||||||||||||
Other assets
|
|
73,438
|
|
|
|
|
|
|
70,254
|
|
|
|
|
|
|
55,190
|
|
|
|
|
|
||||||||||||
Allowance for loan losses
|
|
(7,993
|
)
|
|
|
|
|
|
(7,676
|
)
|
|
|
|
|
|
(7,125
|
)
|
|
|
|
|
||||||||||||
Total assets
|
|
$
|
1,629,277
|
|
|
|
|
|
|
$
|
1,534,917
|
|
|
|
|
|
|
$
|
1,157,654
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities and stockholders’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Interest-bearing demand deposits
|
|
$
|
360,903
|
|
|
$
|
580
|
|
|
0.65
|
|
|
$
|
348,573
|
|
|
$
|
608
|
|
|
0.69
|
|
|
$
|
291,855
|
|
|
$
|
488
|
|
|
0.68
|
|
Savings deposits
|
|
120,861
|
|
|
137
|
|
|
0.46
|
|
|
105,896
|
|
|
138
|
|
|
0.52
|
|
|
53,237
|
|
|
86
|
|
|
0.66
|
|
||||||
Time deposits
|
|
520,891
|
|
|
1,536
|
|
|
1.20
|
|
|
503,378
|
|
|
1,487
|
|
|
1.17
|
|
|
433,170
|
|
|
1,279
|
|
|
1.20
|
|
||||||
Total interest-bearing deposits
|
|
1,002,655
|
|
|
2,253
|
|
|
0.91
|
|
|
957,847
|
|
|
2,233
|
|
|
0.92
|
|
|
778,262
|
|
|
1,853
|
|
|
0.97
|
|
||||||
Short-term borrowings
|
|
143,646
|
|
|
507
|
|
|
1.43
|
|
|
135,126
|
|
|
430
|
|
|
1.26
|
|
|
120,923
|
|
|
282
|
|
|
0.95
|
|
||||||
Long-term debt
|
|
82,641
|
|
|
560
|
|
|
2.75
|
|
|
78,911
|
|
|
487
|
|
|
2.45
|
|
|
21,175
|
|
|
98
|
|
|
1.88
|
|
||||||
Total interest-bearing liabilities
|
|
1,228,942
|
|
|
3,320
|
|
|
1.10
|
|
|
1,171,884
|
|
|
3,150
|
|
|
1.07
|
|
|
920,360
|
|
|
2,233
|
|
|
0.98
|
|
||||||
Noninterest-bearing deposits
|
|
216,827
|
|
|
|
|
|
|
189,935
|
|
|
|
|
|
|
110,410
|
|
|
|
|
|
||||||||||||
Other liabilities
|
|
10,041
|
|
|
|
|
|
|
12,613
|
|
|
|
|
|
|
9,387
|
|
|
|
|
|
||||||||||||
Stockholders’ equity
|
|
173,467
|
|
|
|
|
|
|
160,485
|
|
|
|
|
|
|
117,497
|
|
|
|
|
|
||||||||||||
Total liability and stockholders’ equity
|
|
$
|
1,629,277
|
|
|
|
|
|
|
$
|
1,534,917
|
|
|
|
|
|
|
$
|
1,157,654
|
|
|
|
|
|
|||||||||
Net interest income/net interest margin
|
|
|
|
$
|
13,858
|
|
|
3.70
|
%
|
|
|
|
$
|
12,817
|
|
|
3.55
|
%
|
|
|
|
$
|
8,860
|
|
|
3.27
|
%
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
||||||
|
|
March 31, 2018
|
|
December 31, 2017
|
|
March 31, 2017
|
||||||
Tangible common equity
|
|
|
|
|
|
|
||||||
Total stockholders’ equity
|
|
$
|
173,430
|
|
|
$
|
172,729
|
|
|
$
|
148,336
|
|
Adjustments:
|
|
|
|
|
|
|
||||||
Goodwill
|
|
17,424
|
|
|
17,086
|
|
|
2,684
|
|
|||
Core deposit intangible
|
|
2,617
|
|
|
2,740
|
|
|
440
|
|
|||
Trademark intangible
|
|
100
|
|
|
100
|
|
|
100
|
|
|||
Tangible common equity
|
|
$
|
153,289
|
|
|
$
|
152,803
|
|
|
$
|
145,112
|
|
Tangible assets
|
|
|
|
|
|
|
||||||
Total assets
|
|
$
|
1,644,188
|
|
|
$
|
1,622,734
|
|
|
$
|
1,175,835
|
|
Adjustments:
|
|
|
|
|
|
|
||||||
Goodwill
|
|
17,424
|
|
|
17,086
|
|
|
2,684
|
|
|||
Core deposit intangible
|
|
2,617
|
|
|
2,740
|
|
|
440
|
|
|||
Trademark intangible
|
|
100
|
|
|
100
|
|
|
100
|
|
|||
Tangible assets
|
|
$
|
1,624,047
|
|
|
$
|
1,602,808
|
|
|
$
|
1,172,611
|
|
|
|
|
|
|
|
|
||||||
Common shares outstanding
|
|
9,517,328
|
|
|
9,514,926
|
|
|
8,805,810
|
|
|||
Tangible equity to tangible assets
|
|
9.44
|
%
|
|
9.53
|
%
|
|
12.38
|
%
|
|||
Book value per common share
|
|
$
|
18.22
|
|
|
$
|
18.15
|
|
|
$
|
16.85
|
|
Tangible book value per common share
|
|
16.11
|
|
|
16.06
|
|
|
16.48
|
|