Investar: Q1 Earnings Snapshot
BATON ROUGE, La. (AP) _ Investar Holding Corp. (ISTR) on Thursday reported first-quarter net income of $5.4 million.
The Baton Rouge, Louisiana-based bank said it had earnings of 51 cents per share. Earnings, adjusted for non-recurring gains, were 49 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The holding company for Investar Bank posted revenue of $25.3 million in the period. Its revenue net of interest expense was $22 million, also exceeding Street forecasts.
Investar shares have risen 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21, a rise of 99% in the last 12 months.