Exhibit 99.1
For Immediate Release

Investar Holding Corporation Announces 2018 Fourth Quarter Results

BATON ROUGE, LA (January 28, 2019) – Investar Holding Corporation (NASDAQ: ISTR) (the “Company”), the holding company for Investar Bank (the “Bank”), today announced financial results for the quarter ended
December 31, 2018. The Company reported net income of $3.3 million, or $0.34 per diluted common share, for the fourth quarter of 2018, compared to $4.0 million, or $0.41 per diluted common share, for the quarter ended September 30, 2018, and $2.3 million, or $0.25 per diluted common share, for the quarter ended December 31, 2017.

On a non-GAAP basis, core earnings per diluted common share for the fourth quarter were $0.45 compared to $0.41 for the third quarter of 2018 and $0.34 for the quarter ended December 31, 2017. Core earnings exclude certain non-operating items including, but not limited to, acquisition expense, severance, and discrete tax items (refer to the Reconciliation of Non-GAAP Financial Measures table for a reconciliation of GAAP to non-GAAP metrics).
Investar Holding Corporation President and Chief Executive Officer John D’Angelo said:
“The board of directors and management were very pleased with Investar’s fourth quarter results. We experienced solid organic loan growth of 3.1% during the quarter and have grown loans 11.3% for the year. Deposits grew 5.1% for the quarter and 11.1% for the year. In the fourth quarter, our investments in people and infrastructure began to take hold as indicated by our quarterly and year-end results. Investar is positioned for a very constructive 2019 with good momentum going into the new year.
We continue to focus on our shareholders by increasing our dividend by 59% in 2018 and repurchasing 132,484 shares of our common stock. Investar is committed to providing long-term value to our dedicated shareholder base.
In October, we signed a definitive agreement to acquire Mainland Bank which will expand our footprint into the greater Houston area. We are excited to be a regional bank and believe this acquisition complements our strategy of increasing market share through partnerships with organizations having strong core deposit funding, solid commercial banking and credit practices, and exemplary customer service. The shareholders of Mainland Bank have approved the acquisition, and we expect to close the transaction in the first quarter of 2019. As we enter 2019, we continue to focus on quality loans and deposits and improving our return on assets and efficiency ratios, which will assist in delivering on our commitment of growing the franchise and increasing shareholder value.”
Fourth Quarter Highlights
Total revenues, or interest and noninterest income, for the quarter ended December 31, 2018 totaled $20.8 million, an increase of $0.8 million, or 3.9%, compared to the quarter ended September 30, 2018, and an increase of $3.8 million, or 22.7%, compared to the quarter ended December 31, 2017.
Total loans increased $42.4 million, or 3.1%, to $1.40 billion at December 31, 2018, compared to $1.36 billion at September 30, 2018, and increased $142.0 million, or 11.3% compared to $1.26 billion at December 31, 2017.
The business lending portfolio, which consists of loans secured by owner-occupied commercial real estate properties and commercial and industrial loans, was $509.1 million at December 31, 2018, an increase of $24.4 million, or 5.0%, compared to the business lending portfolio of $484.7 million at September 30, 2018, and an increase of $101.3 million, or 24.8%, compared to the business lending portfolio of $407.8 million at December 31, 2017.
Total deposits increased $66.1 million, or 5.1%, to $1.36 billion at December 31, 2018, compared to $1.30 billion at September 30, 2018, and increased $136.5 million, or 11.1%, compared to $1.23 billion at December 31, 2017.
The Bank opened its 21st full-service branch location in our Baton Rouge market as well as a freestanding Interactive Teller Machine (ITM) in Lake Charles, Louisiana, creating additional banking opportunities for existing and potential customers.
The Company repurchased 61,784 and 132,484 shares of its common stock through its stock repurchase program at an average price of $24.75 and $25.37 during the quarter and year ended December 31, 2018, respectively, leaving 86,240 shares available for repurchase.
On October 10, 2018, the Company announced that it has entered into a definitive agreement to acquire Mainland Bank, Texas City, Texas. Pursuant to the agreement, the shareholders of Mainland Bank will be entitled to receive an aggregate of approximately 764,000 shares of Company common stock, subject to certain adjustments. It is expected that shareholders of Mainland Bank will own approximately 7.4% of the combined company following the acquisition. Mainland Bank’s shareholders approved the transaction on January 14, 2019. The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions, including approval of bank regulatory authorities.


The following information was filed by Investar Holding Corp (ISTR) on Monday, January 28, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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