Investar Holding Stock Price, News & Analysis

Investar Holding Corporation (NASDAQ: ISTR) announced its financial results for Q1 2023, reporting a net income of $3.8 million or $0.38 per diluted share, a decline from $8.9 million or $0.88 per share in Q4 2022, and $10.1 million or $0.97 per share in Q1 2022. Core earnings per diluted share decreased to $0.51 from $0.62 in Q4 2022 and $0.68 in Q1 2022. Nonperforming loans improved to 0.27% of total loans, while total deposits rose to $2.15 billion, a 3.0% increase. The cost of deposits increased to 1.62%. Despite tightening conditions, the company repurchased 45,975 shares and maintained a stable dividend. However, net interest income dropped 10.4% from Q4 2022.

Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.095 per share, payable on April 28, 2023, to shareholders of record as of March 31, 2023. This marks the 38th quarterly dividend paid by the Company and follows an uninterrupted series of 11 cash dividends from its banking subsidiary, Investar Bank. The Bank operates 29 branches across Louisiana, Texas, and Alabama, with total assets of $2.8 billion as of December 31, 2022. The dividend payment reflects the Company’s commitment to returning value to its shareholders.