Investar Holding Corporation · NASDAQ:ISTR
Investar — Q3 2020 Earnings Presentation
17 slides from Investar's earnings presentation, Oct 23, 2020
Slide 1: Earnings Release Presentation 3rd Quarter 2020
Exhibit 99.2 NASDAQ: ISTR Earnings Release Presentation 3rd Quarter 2020
Slide 2: Disclosures and Disclaimers
Disclosures and Disclaimers This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect current views of Investar Holding Corporation (the “Company”) with respect to, among other things, future events and financial
Slide 3: Our Company
Our Company Investar Holding Corp. is the Bank Holding Company for Investar Bank . Headquartered in Baton Rouge, LA Mission . Founded in 2006 Investar is a dynamic full service community bank focused on relationships that create value and opportunities for our customers, employees, . Full service, c
Slide 4: Financial Highlights – 3rd Quarter 2020
Financial Highlights – 3rd Quarter 2020 Tangible Book Value2 Growth 3rd Quarter Results Balance Sheet (in thousands) . Increased by $0.45 during the quarter to $19.27 per share, the highest level in the Company’s history Assets $2,323,245 Net Loans $1,810,636 . Repurchased 211,132 shares in the quar
Slide 5: Creating Shareholder Value
Creating Shareholder Value Tangible Book Value Per Share1 $20.00 $19.27 $18.79 $18.00 $17.13 $16.06 $16.00 $15.42 ($) 1 $14.62 $14.00 $13.79 TBV TBV perShare $12.00 $10.00 $8.00 2014 2015 2016 2017 2018 2019 2020Q3 1 Non-GAAP financial measure; please see appendix for additional details 5
Slide 6: Recent Earnings Performance
Recent Earnings Performance NetNet Income Income EarningsEarnings Per Share Share $5,000 $4,657 $0.50 $0.46 $4,467 $4,274 $0.41 $0.39 $4,000 $0.40 $3,331 $0.32 $3,000 $0.30 $2,000 $0.20 $1,000 $0.10 $608 $0.05 $0 $- 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 Pre-Tax,Pre- P
Slide 7: Total Assets
Total Assets Investar Has Completed 6 Whole Bank Acquisitions and 1 Branch Transaction $2,323.2 $2,148.9 $832.0 Total Assets CAGR: 37.2% $1,786.5 $783.3 Organic Assets CAGR: 32.9% $1,622.7 (Since 2006) $552.9 $552.9 $1,159.0 $1,031.6 $150.1 $881.2 $150.1 $150.1 $1,491.2 $634.9 $1,365.6 $1,233.6 $150
Slide 8: Pandemic Response
Pandemic Response . Enacted business continuity plans to continue to serve customers while protecting the health of our employees . Branches remain open, offering both drive-thru services and limited appointments . In response to the pandemic, in the first quarter of 2020, the Company instituted a 9
Slide 9: Loan Portfolio Update
Loan Portfolio Update . Loan deferrals of 3.1% of total loan portfolio as of the most recent quarter; Consumer & Other 1.2% down from 27.0% as of June 30, 2020 Construction & Development . As of September 30, 2020, of the total number of loans on deferral, 73% 11.3% have deferrals on principal and i
Slide 10: Loan Loss Reserve Detail
Loan Loss Reserve Detail LoanLoan Loss Loss Reserves Reserve / /Gross Gross Loans Loans (%) (%) 1.20 1.04 1.00 0.92 0.82 0.80 0.67 0.63 0.63 0.60 0.40 0.20 0.00 2017Y 2018Y 2019Y 2020Q1 2020Q2 2020Q3 For the Year Ended, For the Quarter Ended, (Dollars in Thousands) 12/31/2017 12/31/2018 12/31/2019 3
Slide 11: Asset Quality Trends
Asset Quality Trends Nonperforming Assets ($000s) NPAs / Assets (%) 40,000 2.00 32,000 1.60 24,000 1.20 16,000 13,121 12,452 0.80 0.56 0.54 7,633 0.35 8,000 5,795 6,419 0.40 0.29 0.30 0 0.00 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 Net Charge-offs / Avg. Loans (%) Reserv
Slide 12: Deposit Transformation
Deposit Transformation Deposit Mix at September 30, 2019 Deposit Mix at September 30, 2020 Money Savings Market 7.0% Money Market 12.3% Interest- bearing 9.8% Demand One Year 25.8% Savings Interest-bearing 7.6% Demand Transformation 19.2% Time Noninterest- Noninterest- 43.1% bearing bearing Demand T
Slide 13: Appendix
APPENDIX
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation (Dollars in thousands, except per share data) As of September 30, As of December 31, 2020 2019 2018 2017 2016 2015 Tangible Common Equity: Total Stockholders' Equity $ 237,267 $ 241,976 $ 182,262 $ 172,729 $ 112,757 $ 109,350 Adjustments: Goodwill (28,144) (26,132) (17,424) (
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation (Dollars in thousands, except per share data) Three Months Ended 9/30/2020 6/30/2020 3/31/2020 12/31/2019 9/30/2019 Interest on Deposits $3,404 $4,190 $5,032 $5,319 $5,198 Interest-Bearing Deposits 473,819 437,821 378,787 335,478 305,361 Noninterest-Bearing Deposits 452,070 4
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation (Dollars in thousands, except per share data) Three Months Ended 9/30/2020 6/30/2020 3/31/2020 12/31/2019 9/30/2019 Net Income $ 4,467 $ 4,274 $ 608 $ 3,331 $ 4,657 Less: Provision Expense (2,500) (2,500) (3,760) (736) (538) Less: Tax Expense (1,089) (1,016) (149) (844) (1,10
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