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Investar Holding Corporation Announces 2025 First Quarter Results
BATON ROUGE, LA / ACCESS Newswire / April 21, 2025 / Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the holding company for Investar Bank, National Association (the "Bank"), today announced financial results for the quarter ended March 31, ...
About this update from Investar Holding Corporation
[{"type":"text","content":"BATON ROUGE, LA / ACCESS Newswire / April 21, 2025 / Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the holding company for Investar Bank, National Association (the "Bank"), today announced financial results for the quarter ended March 31, 2025. Investar reported net income of $6.3 million, or $0.63 per diluted common share, for the first quarter of 2025, compared to net income of $6.1 million, or $0.61 per diluted common share, for the quarter ended December 31, 2024, and net income of $4.7 million, or $0.48 per diluted common share, for the quarter ended March 31, 2024.","length":608,"tagName":"p"},{"type":"text","content":"On a non-GAAP basis, core earnings per diluted common share for the first quarter of 2025 were $0.64 compared to $0.65 for the fourth quarter of 2024, and $0.43 for the first quarter of 2024. Core earnings exclude certain items including, but not limited to, loss on call or sale of investment securities, net, loss (gain) on sale or disposition of fixed assets, net, loss on sale of other real estate owned, net, change in the fair value of equity securities, write down of other real estate owned, and (loss) gain on early extinguishment of subordinated debt (refer to the Reconciliation of Non-GAAP Financial Measures tables for a reconciliation of GAAP to non-GAAP metrics).","length":678,"tagName":"p"},{"type":"text","content":"Investar's President and Chief Executive Officer John D'Angelo commented:","length":81,"tagName":"p"},{"type":"text","content":""I am very pleased with our first quarter results as we continued to execute our strategy of consistent, quality earnings through the optimization of our balance sheet. As a result, our net interest margin improved substantially to 2.87%, a 22 basis point increase from previous quarter. We were able to significantly reduce our funding costs while growing the yield on interest-earning assets.","length":399,"tagName":"p"},{"type":"text","content":"On the cost of funds side, we redeemed $20 million in principal amount of our subordinated debt near the end of the fourth quarter of 2024, which contributed to lower borrowing costs in the first quarter of 2025, and further optimized our deposit and short-term borrowings mix. Our decision over the past year to keep duration short on our liabilities provided us the flexibility t...