Business
Investar Holding Corporation Announces Merger with Wichita Falls Bancshares, Inc. and $32.5 Million Capital Raise
BATON ROUGE, LA / ACCESS Newswire / July 1, 2025 / Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the holding company for Investar Bank, N.A., and
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 holding company for Investar Bank, N.A., and Wichita Falls Bancshares, Inc. (\"Wichita Falls\"), the holding company for First National Bank, Wichita Falls, Texas, jointly announced today that they have entered into a definitive agreement pursuant to which Investar will acquire Wichita Falls for cash and stock consideration. In connection with the proposed acquisition, Investar also announced today a private placement of $32.5 million of its newly designated 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock.Wichita Falls TransactionHeadquartered in Wichita Falls, Texas, Wichita Falls' wholly-owned subsidiary, First National Bank, operates seven branches and two mortgage offices in north Texas and had approximately $1.5 billion in assets at March 31, 2025. First National Bank, chartered in 1986, operates as a full-service community bank, providing banking solutions including personal and business checking accounts, savings accounts, certificates of deposit, personal and business loans, and mortgage solutions and services. Additionally, the bank offers online and mobile banking platforms. First National Bank serves small business owners, taxing authorities, cities, counties, school districts, water districts, hospital districts, and government entities.Dr. David Flack, President of Wichita Falls said, \"The merger of First National Bank and Investar Bank brings together two banks that share a common tradition, culture and commitment to community banking. This merger will allow us to bring new products and services to our customers while keeping the same banking locations and trusted local bankers. We believe this merger creates more long-term value for our customers, communities and shareholders.\"Stan Pinkham, President & Chief Executive Officer of First National Bank stated, \"This merger provides a great opportunity to enhance strategic synergies through combined resources, and to build greater shareholder value. Aligning with Investar creates a combined bank with over $4 billion in assets, resulting in a larger lending capacity and enhanced services to our customers.\"For Investar, the merger represents the continued execution of its multi-state expansion strategy with its second acquisition in Tex...