Louisiana
|
001-36522
|
27-1560715
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(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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7244 Perkins Road
Baton Rouge, Louisiana 70808
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|
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(Address of principal executive offices) (Zip Code)
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|
o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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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
|
Results of Operations and Financial Condition.
|
Item 9.01
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Financial Statements and Exhibits.
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Exhibit Number
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|
Description of Exhibit
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|
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99.1
|
|
Press release of Investar Holding Corporation dated April 26, 2017 announcing financial results for the quarter ended March 31, 2017.
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INVESTAR HOLDING CORPORATION
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||
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|
|||
Date: April 26, 2017
|
|
|
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By:
|
|
/s/ John J. D’Angelo
|
|
|
|
|
|
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John J. D’Angelo
|
|
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President and Chief Executive Officer
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Exhibit Number
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|
Description of Exhibit
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99.1
|
|
Press release of Investar Holding Corporation dated April 26, 2017 announcing financial results for the quarter ended March 31, 2017.
|
•
|
Excluding indirect auto loans, total loans increased $19.8 million, or 2.5% (10% annualized), to $821.2 million at March 31, 2017 compared to $801.4 million at December 31, 2016.
|
•
|
The business lending portfolio, which consists of loans secured by owner-occupied commercial real estate properties and commercial and industrial loans, was $271.9 million at March 31, 2017, an increase of $6.1 million, or 2.3%, compared to the business lending portfolio of $265.8 million at December 31, 2016, and an increase of $55.3 million, or 25.6%, compared to the business lending portfolio of $216.6 million at March 31, 2016.
|
•
|
Total noninterest-bearing deposits were $112.5 million at March 31, 2017, an increase of $4.1 million, or 3.8%, compared to December 31, 2016.
|
•
|
Total interest income increased $0.7 million, or 6.9%, for the quarter ended March 31, 2017 compared to the quarter ended March 31, 2016.
|
•
|
Net interest margin increased to 3.27% for the quarter ended March 31, 2017 compared to 3.20% for the quarter ended December 31, 2016.
|
•
|
Net charge-offs to average loans decreased to 0.02% for the quarter ended March 31, 2017 compared to the 0.08% for the quarter ended December 31, 2016.
|
•
|
The dividend payout ratio increased to 7.73% for the quarter ended March 31, 2017 compared to 4.65% for the quarter ended December 31, 2016 and 3.25% for the quarter ended March 31, 2016.
|
•
|
The Company completed both a common stock offering and a subordinated debt issuance. The common stock offering generated net proceeds of $32.6 million through the issuance of approximately 1.6 million common shares at a price of $21.25 per share. The Company issued $18.6 million in fixed-to-floating rate subordinated notes due in 2027.
|
•
|
The Company’s common stock had a closing trade price of $21.90 at March 31, 2017, representing 17.4% growth from a closing trade price of $18.65 at December 30, 2016.
|
|
|
|
|
|
|
|
|
Linked Quarter Change
|
|
Year/Year Change
|
|
Percentage of Total Loans
|
||||||||||||||||||||
|
|
3/31/2017
|
|
12/31/2016
|
|
3/31/2016
|
|
$
|
|
%
|
|
$
|
|
%
|
|
3/31/2017
|
|
3/31/2016
|
||||||||||||||
Mortgage loans on real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Construction and development
|
|
$
|
95,541
|
|
|
$
|
90,737
|
|
|
$
|
95,353
|
|
|
$
|
4,804
|
|
|
5.3
|
%
|
|
$
|
188
|
|
|
0.2
|
%
|
|
10.6
|
%
|
|
12.0
|
%
|
1-4 Family
|
|
172,148
|
|
|
177,205
|
|
|
162,312
|
|
|
(5,057
|
)
|
|
(2.9
|
)
|
|
9,836
|
|
|
6.1
|
|
|
19.1
|
|
|
20.3
|
|
|||||
Multifamily
|
|
47,776
|
|
|
42,759
|
|
|
33,609
|
|
|
5,017
|
|
|
11.7
|
|
|
14,167
|
|
|
42.2
|
|
|
5.3
|
|
|
4.2
|
|
|||||
Farmland
|
|
7,994
|
|
|
8,207
|
|
|
6,366
|
|
|
(213
|
)
|
|
(2.6
|
)
|
|
1,628
|
|
|
25.6
|
|
|
0.9
|
|
|
0.8
|
|
|||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Owner-occupied
|
|
181,590
|
|
|
180,458
|
|
|
141,583
|
|
|
1,132
|
|
|
0.6
|
|
|
40,007
|
|
|
28.3
|
|
|
20.1
|
|
|
17.8
|
|
|||||
Nonowner-occupied
|
|
210,874
|
|
|
200,258
|
|
|
174,176
|
|
|
10,616
|
|
|
5.3
|
|
|
36,698
|
|
|
21.1
|
|
|
23.4
|
|
|
21.8
|
|
|||||
Commercial and industrial
|
|
90,352
|
|
|
85,377
|
|
|
74,990
|
|
|
4,975
|
|
|
5.8
|
|
|
15,362
|
|
|
20.5
|
|
|
10.0
|
|
|
9.4
|
|
|||||
Consumer
|
|
95,873
|
|
|
108,425
|
|
|
109,233
|
|
|
(12,552
|
)
|
|
(11.6
|
)
|
|
(13,360
|
)
|
|
(12.2
|
)
|
|
10.6
|
|
|
13.7
|
|
|||||
Total loans
|
|
902,148
|
|
|
893,426
|
|
|
797,622
|
|
|
8,722
|
|
|
1.0
|
%
|
|
104,526
|
|
|
13.1
|
%
|
|
100
|
%
|
|
100
|
%
|
|||||
Loans held for sale
|
|
—
|
|
|
—
|
|
|
50,921
|
|
|
—
|
|
|
—
|
|
|
(50,921
|
)
|
|
(100.0
|
)
|
|
|
|
|
|||||||
Total gross loans
|
|
$
|
902,148
|
|
|
$
|
893,426
|
|
|
$
|
848,543
|
|
|
$
|
8,722
|
|
|
1.0
|
%
|
|
$
|
53,605
|
|
|
6.3
|
%
|
|
|
|
|
•
|
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 and including the potential impact on our borrowers of the August 2016 flooding in Baton Rouge and surrounding areas;
|
•
|
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, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
||||||
ASSETS
|
|
|
|
|
|
|
||||||
Cash and due from banks
|
|
$
|
8,043
|
|
|
$
|
9,773
|
|
|
$
|
8,808
|
|
Interest-bearing balances due from other banks
|
|
18,600
|
|
|
19,569
|
|
|
12,465
|
|
|||
Federal funds sold
|
|
—
|
|
|
106
|
|
|
51
|
|
|||
Cash and cash equivalents
|
|
26,643
|
|
|
29,448
|
|
|
21,324
|
|
|||
|
|
|
|
|
|
|
||||||
Available for sale securities at fair value (amortized cost of $176,363, $166,258, and $127,737, respectively)
|
|
174,139
|
|
|
163,051
|
|
|
128,570
|
|
|||
Held to maturity securities at amortized cost (estimated fair value of $19,422, $19,612, and $26,348, respectively)
|
|
19,648
|
|
|
20,091
|
|
|
26,249
|
|
|||
Loans held for sale
|
|
—
|
|
|
—
|
|
|
50,921
|
|
|||
Loans, net of allowance for loan losses of $7,243, $7,051, and $6,463, respectively
|
|
894,905
|
|
|
886,375
|
|
|
791,159
|
|
|||
Other equity securities
|
|
6,320
|
|
|
5,362
|
|
|
7,183
|
|
|||
Bank premises and equipment, net of accumulated depreciation of $7,117, $6,751, and $5,727, respectively
|
|
31,434
|
|
|
31,722
|
|
|
30,759
|
|
|||
Other real estate owned, net
|
|
4,045
|
|
|
4,065
|
|
|
695
|
|
|||
Accrued interest receivable
|
|
3,243
|
|
|
3,218
|
|
|
2,978
|
|
|||
Deferred tax asset
|
|
2,601
|
|
|
2,868
|
|
|
1,934
|
|
|||
Goodwill and other intangible assets, net
|
|
3,224
|
|
|
3,234
|
|
|
3,265
|
|
|||
Bank-owned life insurance
|
|
7,248
|
|
|
7,201
|
|
|
7,054
|
|
|||
Other assets
|
|
2,385
|
|
|
2,325
|
|
|
1,438
|
|
|||
Total assets
|
|
$
|
1,175,835
|
|
|
$
|
1,158,960
|
|
|
$
|
1,073,529
|
|
|
|
|
|
|
|
|
||||||
LIABILITIES
|
|
|
|
|
|
|
||||||
Deposits
|
|
|
|
|
|
|
||||||
Noninterest-bearing
|
|
$
|
112,514
|
|
|
$
|
108,404
|
|
|
$
|
95,033
|
|
Interest-bearing
|
|
756,040
|
|
|
799,383
|
|
|
713,665
|
|
|||
Total deposits
|
|
868,554
|
|
|
907,787
|
|
|
808,698
|
|
|||
Advances from Federal Home Loan Bank
|
|
82,413
|
|
|
82,803
|
|
|
103,960
|
|
|||
Repurchase agreements
|
|
36,361
|
|
|
39,087
|
|
|
29,678
|
|
|||
Subordinated debt
|
|
18,133
|
|
|
—
|
|
|
—
|
|
|||
Junior subordinated debt
|
|
3,609
|
|
|
3,609
|
|
|
3,609
|
|
|||
Other borrowings
|
|
78
|
|
|
1,000
|
|
|
—
|
|
|||
Accrued taxes and other liabilities
|
|
18,351
|
|
|
11,917
|
|
|
16,097
|
|
|||
Total liabilities
|
|
1,027,499
|
|
|
1,046,203
|
|
|
962,042
|
|
|||
|
|
|
|
|
|
|
||||||
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; 8,805,810, 7,101,851, and 7,296,429 shares outstanding, respectively
|
|
8,806
|
|
|
7,102
|
|
|
7,296
|
|
|||
Surplus
|
|
112,927
|
|
|
81,499
|
|
|
83,890
|
|
|||
Retained earnings
|
|
27,916
|
|
|
26,227
|
|
|
20,575
|
|
|||
Accumulated other comprehensive loss
|
|
(1,313
|
)
|
|
(2,071
|
)
|
|
(274
|
)
|
|||
Total stockholders’ equity
|
|
148,336
|
|
|
112,757
|
|
|
111,487
|
|
|||
Total liabilities and stockholders’ equity
|
|
$
|
1,175,835
|
|
|
$
|
1,158,960
|
|
|
$
|
1,073,529
|
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
For the three months ended
|
||||||||||
|
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
||||||
|
|
|
|
|
|
|
||||||
INTEREST INCOME
|
|
|
|
|
|
|
||||||
Interest and fees on loans
|
|
$
|
10,004
|
|
|
$
|
10,103
|
|
|
$
|
9,485
|
|
Interest on investment securities
|
|
1,029
|
|
|
898
|
|
|
856
|
|
|||
Other interest income
|
|
60
|
|
|
61
|
|
|
37
|
|
|||
Total interest income
|
|
11,093
|
|
|
11,062
|
|
|
10,378
|
|
|||
|
|
|
|
|
|
|
||||||
INTEREST EXPENSE
|
|
|
|
|
|
|
||||||
Interest on deposits
|
|
1,853
|
|
|
1,970
|
|
|
1,515
|
|
|||
Interest on borrowings
|
|
380
|
|
|
311
|
|
|
316
|
|
|||
Total interest expense
|
|
2,233
|
|
|
2,281
|
|
|
1,831
|
|
|||
Net interest income
|
|
8,860
|
|
|
8,781
|
|
|
8,547
|
|
|||
|
|
|
|
|
|
|
||||||
Provision for loan losses
|
|
350
|
|
|
375
|
|
|
454
|
|
|||
Net interest income after provision for loan losses
|
|
8,510
|
|
|
8,406
|
|
|
8,093
|
|
|||
|
|
|
|
|
|
|
||||||
NONINTEREST INCOME
|
|
|
|
|
|
|
||||||
Service charges on deposit accounts
|
|
97
|
|
|
79
|
|
|
97
|
|
|||
Gain on sale of investment securities, net
|
|
106
|
|
|
15
|
|
|
80
|
|
|||
Gain on sale of fixed assets, net
|
|
23
|
|
|
14
|
|
|
—
|
|
|||
Gain on sale of other real estate owned, net
|
|
5
|
|
|
2
|
|
|
1
|
|
|||
Gain on sale of loans, net
|
|
—
|
|
|
92
|
|
|
313
|
|
|||
Servicing fees and fee income on serviced loans
|
|
423
|
|
|
449
|
|
|
591
|
|
|||
Other operating income
|
|
231
|
|
|
245
|
|
|
205
|
|
|||
Total noninterest income
|
|
885
|
|
|
896
|
|
|
1,287
|
|
|||
Income before noninterest expense
|
|
9,395
|
|
|
9,302
|
|
|
9,380
|
|
|||
|
|
|
|
|
|
|
||||||
NONINTEREST EXPENSE
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
376
|
|
|
383
|
|
|
370
|
|
|||
Salaries and employee benefits
|
|
3,950
|
|
|
3,901
|
|
|
3,873
|
|
|||
Occupancy
|
|
264
|
|
|
252
|
|
|
236
|
|
|||
Data processing
|
|
368
|
|
|
373
|
|
|
374
|
|
|||
Marketing
|
|
28
|
|
|
70
|
|
|
112
|
|
|||
Professional fees
|
|
232
|
|
|
295
|
|
|
279
|
|
|||
Acquisition expenses
|
|
145
|
|
|
—
|
|
|
—
|
|
|||
Other operating expenses
|
|
1,321
|
|
|
1,329
|
|
|
1,140
|
|
|||
Total noninterest expense
|
|
6,684
|
|
|
6,603
|
|
|
6,384
|
|
|||
Income before income tax expense
|
|
2,711
|
|
|
2,699
|
|
|
2,996
|
|
|||
Income tax expense
|
|
847
|
|
|
851
|
|
|
1,006
|
|
|||
Net income
|
|
$
|
1,864
|
|
|
$
|
1,848
|
|
|
$
|
1,990
|
|
|
|
|
|
|
|
|
||||||
EARNINGS PER SHARE
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
|
$
|
0.26
|
|
|
$
|
0.26
|
|
|
$
|
0.28
|
|
Diluted earnings per share
|
|
$
|
0.26
|
|
|
$
|
0.26
|
|
|
$
|
0.28
|
|
Cash dividends declared per common share
|
|
$
|
0.02
|
|
|
$
|
0.01
|
|
|
$
|
0.01
|
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
EARNINGS PER COMMON SHARE
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
For the three months ended
|
||||||||||
|
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
||||||
|
|
|
|
|
|
|
||||||
Net income available to common stockholders
|
|
$
|
1,864
|
|
|
$
|
1,848
|
|
|
$
|
1,990
|
|
Weighted average number of common shares outstanding used in computation of basic earnings per common share
|
|
7,205,942
|
|
|
7,017,213
|
|
|
7,194,558
|
|
|||
Effect of dilutive securities:
|
|
|
|
|
|
|
||||||
Restricted stock
|
|
20,604
|
|
|
21,648
|
|
|
15,353
|
|
|||
Stock options
|
|
26,838
|
|
|
33,664
|
|
|
14,854
|
|
|||
Stock warrants
|
|
23,485
|
|
|
17,975
|
|
|
11,267
|
|
|||
Weighted average number of common shares outstanding plus effect of dilutive securities used in computation of diluted earnings per common share
|
|
7,276,869
|
|
|
7,090,500
|
|
|
7,236,032
|
|
|||
Basic earnings per share
|
|
$
|
0.26
|
|
|
$
|
0.26
|
|
|
$
|
0.28
|
|
Diluted earnings per share
|
|
$
|
0.26
|
|
|
$
|
0.26
|
|
|
$
|
0.28
|
|
INVESTAR HOLDING CORPORATION
|
|||||||||||||||||||||||||||||||||
CONSOLIDATED AVERAGE BALANCE SHEET, INTEREST EARNED AND YIELD ANALYSIS
|
|||||||||||||||||||||||||||||||||
(Amounts in thousands)
|
|||||||||||||||||||||||||||||||||
(Unaudited)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
For the three months ended
|
|||||||||||||||||||||||||||||||
|
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
|||||||||||||||||||||||||||
|
|
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
|
|
$
|
892,546
|
|
|
$
|
10,004
|
|
|
4.55
|
%
|
|
$
|
889,814
|
|
|
$
|
10,103
|
|
|
4.50
|
%
|
|
$
|
832,368
|
|
|
$
|
9,485
|
|
|
4.57
|
%
|
Securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Taxable
|
|
150,139
|
|
|
839
|
|
|
2.27
|
|
|
138,985
|
|
|
707
|
|
|
2.02
|
|
|
113,446
|
|
|
712
|
|
|
2.52
|
|
||||||
Tax-exempt
|
|
30,540
|
|
|
190
|
|
|
2.52
|
|
|
30,898
|
|
|
191
|
|
|
2.45
|
|
|
22,199
|
|
|
144
|
|
|
2.60
|
|
||||||
Interest-bearing balances with banks
|
|
24,591
|
|
|
60
|
|
|
0.99
|
|
|
27,948
|
|
|
61
|
|
|
0.87
|
|
|
20,766
|
|
|
37
|
|
|
0.71
|
|
||||||
Total interest-earning assets
|
|
1,097,816
|
|
|
11,093
|
|
|
4.10
|
|
|
1,087,645
|
|
|
11,062
|
|
|
4.04
|
|
|
988,779
|
|
|
10,378
|
|
|
4.21
|
|
||||||
Cash and due from banks
|
|
8,546
|
|
|
|
|
|
|
7,845
|
|
|
|
|
|
|
7,222
|
|
|
|
|
|
||||||||||||
Intangible assets
|
|
3,227
|
|
|
|
|
|
|
3,237
|
|
|
|
|
|
|
3,179
|
|
|
|
|
|
||||||||||||
Other assets
|
|
55,190
|
|
|
|
|
|
|
56,361
|
|
|
|
|
|
|
52,121
|
|
|
|
|
|
||||||||||||
Allowance for loan losses
|
|
(7,125
|
)
|
|
|
|
|
|
(7,253
|
)
|
|
|
|
|
|
(6,308
|
)
|
|
|
|
|
||||||||||||
Total assets
|
|
$
|
1,157,654
|
|
|
|
|
|
|
$
|
1,147,835
|
|
|
|
|
|
|
$
|
1,044,993
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities and stockholders’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Interest-bearing demand deposits
|
|
$
|
291,855
|
|
|
$
|
488
|
|
|
0.68
|
|
|
$
|
281,500
|
|
|
$
|
485
|
|
|
0.68
|
|
|
$
|
239,844
|
|
|
$
|
380
|
|
|
0.64
|
|
Savings deposits
|
|
53,237
|
|
|
86
|
|
|
0.66
|
|
|
53,219
|
|
|
87
|
|
|
0.65
|
|
|
53,144
|
|
|
88
|
|
|
0.66
|
|
||||||
Time deposits
|
|
433,170
|
|
|
1,279
|
|
|
1.20
|
|
|
463,531
|
|
|
1,398
|
|
|
1.20
|
|
|
383,838
|
|
|
1,047
|
|
|
1.09
|
|
||||||
Total interest-bearing deposits
|
|
778,262
|
|
|
1,853
|
|
|
0.97
|
|
|
798,250
|
|
|
1,970
|
|
|
0.98
|
|
|
676,826
|
|
|
1,515
|
|
|
0.90
|
|
||||||
Short-term borrowings
|
|
120,923
|
|
|
282
|
|
|
0.95
|
|
|
99,169
|
|
|
246
|
|
|
0.98
|
|
|
132,839
|
|
|
243
|
|
|
0.73
|
|
||||||
Long-term debt
|
|
21,175
|
|
|
98
|
|
|
1.88
|
|
|
19,666
|
|
|
65
|
|
|
1.31
|
|
|
26,667
|
|
|
73
|
|
|
1.10
|
|
||||||
Total interest-bearing liabilities
|
|
920,360
|
|
|
2,233
|
|
|
0.98
|
|
|
917,085
|
|
|
2,281
|
|
|
0.99
|
|
|
836,332
|
|
|
1,831
|
|
|
0.88
|
|
||||||
Noninterest-bearing deposits
|
|
110,410
|
|
|
|
|
|
|
106,060
|
|
|
|
|
|
|
87,319
|
|
|
|
|
|
||||||||||||
Other liabilities
|
|
9,387
|
|
|
|
|
|
|
10,773
|
|
|
|
|
|
|
10,469
|
|
|
|
|
|
||||||||||||
Stockholders’ equity
|
|
117,497
|
|
|
|
|
|
|
113,917
|
|
|
|
|
|
|
110,873
|
|
|
|
|
|
||||||||||||
Total liability and stockholders’ equity
|
|
$
|
1,157,654
|
|
|
|
|
|
|
$
|
1,147,835
|
|
|
|
|
|
|
$
|
1,044,993
|
|
|
|
|
|
|||||||||
Net interest income/net interest margin
|
|
|
|
$
|
8,860
|
|
|
3.27
|
%
|
|
|
|
$
|
8,781
|
|
|
3.20
|
%
|
|
|
|
$
|
8,547
|
|
|
3.47
|
%
|
INVESTAR HOLDING CORPORATION
|
||||||||||||
RECONCILIATION OF NON GAAP FINANCIAL MEASURES
|
||||||||||||
(Amounts in thousands, except share data)
|
||||||||||||
(Unaudited)
|
||||||||||||
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
||||||
|
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
||||||
Tangible common equity
|
|
|
|
|
|
|
||||||
Total stockholders’ equity
|
|
$
|
148,336
|
|
|
$
|
112,757
|
|
|
$
|
111,487
|
|
Adjustments:
|
|
|
|
|
|
|
||||||
Goodwill
|
|
2,684
|
|
|
2,684
|
|
|
2,684
|
|
|||
Core deposit intangible
|
|
440
|
|
|
450
|
|
|
481
|
|
|||
Trademark intangible
|
|
100
|
|
|
100
|
|
|
100
|
|
|||
Tangible common equity
|
|
$
|
145,112
|
|
|
$
|
109,523
|
|
|
$
|
108,222
|
|
Tangible assets
|
|
|
|
|
|
|
||||||
Total assets
|
|
$
|
1,175,835
|
|
|
$
|
1,158,960
|
|
|
$
|
1,073,529
|
|
Adjustments:
|
|
|
|
|
|
|
||||||
Goodwill
|
|
2,684
|
|
|
2,684
|
|
|
2,684
|
|
|||
Core deposit intangible
|
|
440
|
|
|
450
|
|
|
481
|
|
|||
Trademark intangible
|
|
100
|
|
|
100
|
|
|
100
|
|
|||
Tangible assets
|
|
$
|
1,172,611
|
|
|
$
|
1,155,726
|
|
|
$
|
1,070,264
|
|
|
|
|
|
|
|
|
||||||
Common shares outstanding
|
|
8,805,810
|
|
|
7,101,851
|
|
|
7,296,429
|
|
|||
Tangible equity to tangible assets
|
|
12.38
|
%
|
|
9.48
|
%
|
|
10.11
|
%
|
|||
Book value per common share
|
|
$
|
16.85
|
|
|
$
|
15.88
|
|
|
$
|
15.28
|
|
Tangible book value per common share
|
|
16.48
|
|
|
15.42
|
|
|
14.83
|
|