Investar Bank

Investar Holding Corp., the Baton Rouge-based parent company of Investar Bank, reported net income of $4.7 million during the third quarter, or 46 cents per common share.

That's up from $4 million, or 41 cents per share, for the second quarter of 2018.

Investar Holding Corp., the parent company of Investar Bank in Baton Rouge, is stretching a little deeper into south Texas with the acquisition of two branches from PlainsCapital Bank, a subsidiary of Hilltop Holdings in Dallas. 

The branches are in Victoria and Alice, towns located between Houston and San Antonio, which have $42 million in deposits and $52 million in loans. About a dozen employees are working at the branches. 

“We believe these branches will complement our recent entry into Texas, allowing us to strategically expand our Texas footprint while adding new loan customers and low-cost deposits," said John D'Angelo, CEO of Investar Bank. 

The acquisition is expected to close in first-quarter 2020, pending regulatory approval. The purchase price was not disclosed. 

Investar Bank previously acquired Mainland Bank in Houston for nearly $20 million, which has three branches in the metro area and about $125 million in assets. It plans to acquire a bank in Alabama for $15 million this year. Investar Bank had about $2 billion in assets as of June 30. 

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Investar Holding Corp., the parent company of Investar Bank in Baton Rouge, is stretching a little deeper into south Texas with the acquisitio…

Email Kristen Mosbrucker at kmosbrucker@theadvocate.com.