Investar Holding Stock Price, News & Analysis

Investar Holding Corporation (Nasdaq:ISTR) has announced the receipt of necessary shareholder and regulatory approvals for the acquisition of Cheaha Financial Group, Inc., the parent company of Cheaha Bank in Alabama. The agreement, dated January 21, 2021, entails a cash payment of $80 per share for Cheaha's shareholders. With Cheaha Bank holding approximately $236 million in assets and $202 million in deposits as of December 31, 2020, the acquisition is expected to enhance Investar's market footprint. Completion is anticipated around April 1, 2021, pending customary closing conditions.

Investar Holding Corporation (NASDAQ:ISTR) announced a definitive agreement to acquire Cheaha Financial Group, Inc. for $41.1 million, at $80.00 per share. Cheaha Bank, with assets of $236 million, will enhance Investar’s growth strategy in Alabama. Despite a previous agreement termination in 2019 due to pandemic-related uncertainties, both banks are positioned for a successful merger, expected to close in Q2 2021. For Q4 2020, Investar posted a net income of $4.5 million, representing a strong financial position with a loan growth of 10.8% excluding PPP loans.

Investar Holding Corporation (NASDAQ: ISTR) declared a quarterly cash dividend of $0.065 per share, payable on January 31, 2021, to shareholders of record as of December 28, 2020. This marks the 29th quarterly dividend paid by the Company, following an uninterrupted series of 11 quarterly dividends from Investar Bank. As of September 30, 2020, Investar had total assets of approximately $2.3 billion and operates multiple branches across Louisiana, Texas, and Alabama.

Investar Holding Corporation (NASDAQ: ISTR) reported a net income of $4.5 million, or $0.41 per diluted share, for Q3 2020, a slight increase from $4.3 million in Q2 2020 but a decrease from $4.7 million in Q3 2019. Total revenues decreased by 3.4% quarter-over-quarter to $26.8 million yet rose 9.5% year-over-year. Total loans increased to $1.83 billion, a 0.9% rise from Q2 2020 and a 15.3% increase from Q3 2019. The allowance for loan losses rose to 1.04% of total loans. The bank continues to manage its expenses while anticipating future stability through strategic initiatives.

Investar Holding Corporation (NASDAQ: ISTR) announced a quarterly cash dividend of $0.065 per share, marking an 8% increase from the previous quarter. The dividend will be payable on October 31, 2020, to shareholders of record as of October 5, 2020. This is the 28th quarterly dividend by the company, which has consistently paid 11 quarterly cash dividends through its subsidiary, Investar Bank. As of June 30, 2020, the company reported total assets of approximately $2.4 billion.

Investar Holding Corporation (NASDAQ: ISTR) announced the approval of a stock repurchase program for an additional 300,000 shares, enhancing its ongoing commitment to shareholder value. With 62,000 shares remaining from a prior buyback, this total represents about 3% of outstanding stock. In Q3 2020, the company repurchased 134,861 shares at an average price of $14.09. CEO John D’Angelo stated that share buybacks are a tax-efficient method to boost earnings per share and shareholder value. The program has no expiration date and may be modified or terminated at any time.

Investar Holding Corporation (NASDAQ: ISTR) reported net income of $4.3 million ($0.39 per diluted share) for Q2 2020, a rise from $0.6 million ($0.05) in Q1 2020, but down from $4.9 million ($0.48) in Q2 2019. Core earnings were $0.32, up from $0.15 in Q1 2020. Total revenues increased by 12.2% from Q1 to $27.7 million. Loan portfolio grew by $84.2 million (4.9%) to $1.8 billion. Notably, $109.5 million in PPP loans were originated. However, COVID-19 imposed challenges, with 27% of loans under deferral programs, and nonperforming loans rose to $13.1 million (0.72%).

Investar Holding Corporation (NASDAQ: ISTR) has declared a quarterly cash dividend of $0.06 per share, payable on July 31, 2020 to shareholders of record as of July 6, 2020. This marks the 27th quarterly dividend paid by the company, following an uninterrupted series of 11 quarterly dividends from its subsidiary, Investar Bank. As of March 31, 2020, Investar reported total assets of approximately $2.2 billion and operates 23 branches in Louisiana, 5 branches in Texas, and 2 branches in Alabama.

Investar Holding Corporation has announced a change to its 2020 Annual Meeting of Shareholders, now to be held virtually on May 27, 2020, at 3:00 p.m. CT, due to COVID-19 safety concerns. Shareholders must register by May 22, 2020, to participate online. Voting can be done during the meeting, and those who have already voted can update their votes. Investar Holding operates Investar Bank with approximately $2.2 billion in total assets as of March 31, 2020, serving South Louisiana, Southeast Texas, and West Alabama.