Investar Bank

Investar Bank reported first quarter earnings of $5.4 million, or 51 cents per share, up from the $0.6 million, or 5 cents per share it earned during the first quarter of 2020.

Investar Bank reported first-quarter earnings of $5.4 million, or 51 cents per share, up from the $600,000, or 5 cents per share, it earned during the first quarter of 2020.

John D’Angelo, president and chief executive officer of the Baton Rouge-based bank, called the performance “a solid quarter." Net interest income went up from $17.3 million in the first quarter of 2020 to $19.6 million. The bank had revenue of $25.3 million for the quarter, up from $24.7 million for the first quarter of 2020. Expenses dropped from $20.2 million to $18.1 million.

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.

Total loans topped $1.8 billion for the quarter, up from $1.7 billion in the first quarter of 2020. Total deposits were $2 billion, up from $1.7 billion in the first quarter of 2020. 

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.


Email Timothy Boone at tboone@theadvocate.com.