Investar Holding Corporation (ISTR) reports earnings

The report was filed on March 12, 2025

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Investar Holding Corporation (ISTR-3.16%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.

The filing reports total assets of $2.72 billion, a decrease from $2.82 billion the previous year. The company's total stockholders' equity increased to $241.3 million from $226.8 million.

Net income for 2024 was $20.3 million, or $2.04 per diluted share, compared to $16.7 million, or $1.69 per diluted share, in 2023. The increase is attributed to higher noninterest income and a lower provision for credit losses.

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Net interest income decreased by $4.8 million to $69.8 million, primarily due to increased interest expenses on deposits and borrowings.

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Noninterest income rose significantly to $14.2 million, driven by income from bank-owned life insurance and gains on asset sales.

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The provision for credit losses was a negative $3.5 million, reflecting improvements in credit quality and recoveries on previously impaired loans.

Total loans decreased to $2.13 billion from $2.21 billion, with a focus on optimizing the balance sheet and exiting higher-risk credit relationships.

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Total deposits increased to $2.35 billion, with a shift towards interest-bearing deposits and a decrease in noninterest-bearing deposits.

The company redeemed $20.0 million in subordinated debt and repurchased $8.0 million, reducing its outstanding subordinated debt.

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Investar Holding Corporation remains well-capitalized, with capital ratios exceeding regulatory requirements.

The company continues to focus on consistent, quality earnings and optimizing its balance sheet while exploring strategic growth opportunities.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Investar Holding Corporation annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.