Investar Holding Corp ISTR
Investar Holding Corporation, a Louisiana corporation incorporated in 2009, is a financial holding company headquartered in Baton Rouge, Louisiana that conducts its operations primarily through its wholly-owned subsidiary, Investar Bank, National Association, a national bank chartered by the OCC. The Bank was originally chartered as a Louisiana commercial bank in 2006 and converted to a national bank in July 2019. Through the Bank, the Company offers a wide range of commercial banking products tailored to meet the needs of individuals, professionals, and small to medium-sized businesses. Our primary areas of operation are south Louisiana, including Baton Rouge, New Orleans, Lafayette, Lake Charles, and their surrounding areas; Texas, including Houston and its surrounding area, and, as of January 1, 2026, north Dallas and Wichita Falls and their surrounding areas; and Alabama, including York and Oxford and their surrounding areas. These markets are served from our executive and operations center located in Baton Rouge and from 36 full-service branches located throughout our market areas. We have experienced significant growth since the Bank was chartered, completing eight whole-bank acquisitions and establishing additional branches in our market areas.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $144.0M | $143.9M | $133.2M | $104.6M | $95.5M | $93.8M | $89.4M | $73.9M | $53.3M | $43.2M |
| Interest expense | $80.8M | $69.8M | $74.5M | $89.8M | $11.7M | $20.3M | $24.6M | $16.5M | $10.8M | $8.4M |
| Pre-tax income | $27.9M | $24.4M | $20.4M | $44.3M | $9.9M | $17.3M | $21.0M | $17.2M | $12.4M | $11.5M |
| Income tax | $5.0M | $4.2M | $3.8M | $8.6M | $1.9M | $3.5M | $4.1M | $3.6M | $4.2M | $3.6M |
| Net income | $22.9M | $20.3M | $16.7M | $35.7M | $8.0M | $13.9M | $16.8M | $13.6M | $8.2M | $7.9M |
| EPS, basic | 2.22 | 2.06 | 1.69 | 3.54 | 0.77 | 1.27 | 1.68 | 1.41 | 0.96 | 1.11 |
| EPS, diluted | 2.13 | 2.04 | 1.69 | 3.50 | 0.76 | 1.27 | 1.66 | 1.39 | 0.96 | 1.10 |
| Shares, diluted (wtd. avg.) | $10.8M | $9.9M | $9.8M | $10.2M | $10.5M | $10.9M | $10.0M | $9.7M | $8.5M | $7.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $26.6M | $26.6M | $28.3M | $30.1M | $38.6M | $25.7M | $44.7M | $17.1M | $30.4M | $29.4M |
| Property, plant and equipment | $39.5M | $40.7M | $44.2M | $49.6M | $58.1M | $56.3M | — | $40.2M | $37.5M | $31.7M |
| Goodwill | $40.1M | $40.1M | $40.1M | $40.1M | $40.1M | $28.1M | $26.1M | — | — | — |
| Other intangibles | $996.0K | $1.5M | $2.1M | $3.0M | $3.8M | $4.0M | $4.8M | $2.3M | $2.7M | $450.0K |
| Total assets | $2.83B | $2.72B | $2.82B | $2.75B | $2.51B | $2.32B | $2.15B | $1.79B | $1.62B | $1.16B |
| Long-term debt | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | — | — | — | — | — |
| Total liabilities | $2.53B | $2.48B | $2.59B | $2.54B | $2.27B | $2.08B | $1.91B | $1.60B | $1.45B | $1.05B |
| Retained earnings | $150.5M | $132.9M | $116.7M | $108.2M | $76.2M | $71.4M | $60.2M | $45.7M | $33.2M | $26.2M |
| Total equity | $301.1M | $241.3M | $226.8M | $215.8M | $242.6M | $243.3M | $242.0M | $182.3M | $172.7M | $112.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $18.2M | $15.9M | $26.2M | $42.7M | $33.5M | $17.7M | $18.6M | $16.4M | $9.5M | $37.3M |
| Stock-based compensation | $2.0M | $2.0M | $2.0M | $2.1M | $1.7M | $1.6M | $1.4M | $1.1M | $786.0K | $609.0K |
| Capital expenditure | — | — | — | — | — | — | — | $4.9M | $2.1M | $4.0M |
| Investing cash flow | -$83.9M | $90.1M | -$73.5M | -$351.0M | $53.4M | -$148.1M | -$103.1M | -$182.4M | -$98.3M | -$152.0M |
| Financing cash flow | $79.3M | -$110.1M | $39.0M | $251.5M | -$25.2M | $121.1M | $112.1M | $152.7M | $89.9M | $123.1M |
| Dividends paid | $4.2M | $4.0M | $3.8M | $3.6M | $3.1M | $2.7M | $2.2M | $1.5M | $722.0K | $278.0K |
| Buybacks | $2.3M | $305.0K | $3.0M | $10.5M | $6.9M | $11.1M | $8.3M | $3.4M | $506.0K | $3.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-011771.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |