Business
Investar Holding Corporation Announces Completion of $32.5 Million Convertible Preferred Offering
BATON ROUGE, LA / ACCESS Newswire / July 1, 2025 / Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the parent holding company of Investar Bank, National Association, today announced that it has completed a private placement of $32.5 million ...
About this update from Investar Holding Corporation
[{"type":"text","content":"BATON ROUGE, LA / ACCESS Newswire / July 1, 2025 / Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the parent holding company of Investar Bank, National Association, today announced that it has completed a private placement of $32.5 million of its newly designated 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock (the "Series A preferred stock"). Investar intends to use the net proceeds from the offering to support its recently-announced acquisition of Wichita Falls Bancshares, Inc. ("Wichita Falls") and for general corporate purposes, including organic growth and other potential acquisitions. Additional information regarding the Series A preferred stock was included in a Current Report on Form 8-K filed today with the SEC.","length":789,"tagName":"p"},{"type":"text","content":"Investar has also agreed to take steps following the closing of the private placement to register with the United States Securities and Exchange Commission (the "SEC") the resale of the Investar common stock issuable upon conversion of the Series A preferred stock.","length":275,"tagName":"p"},{"type":"text","content":"Janney Montgomery Scott LLC served as lead placement agent, and Hovde Group, LLC served as co-placement agent, for the offering. Fenimore Kay Harrison LLP served as legal counsel to Investar, and Jones Walker LLP served as legal counsel to the placement agents, for the offering.","length":279,"tagName":"p"},{"type":"text","content":"About Investar Holding Corporation","length":34,"tagName":"p"},{"type":"text","content":"Investar, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association. Investar Bank currently operates 29 branch locations serving south Louisiana, southeast Texas, and southwest Alabama. At March 31, 2025, Investar had 329 full-time equivalent employees and total assets of approximately $2.7 billion.","length":423,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"type":"text","content":"This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as...