Investar: Q1 Earnings Snapshot
By AP News
Published - Apr 21, 2023, 05:03 AM ET
Last Updated - Jun 22, 2023, 05:06 AM EDT
BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Investar Holding Corp. (ISTR) on Thursday reported first-quarter profit of $3.8 million.
The bank, based in Baton Rouge, Louisiana, said it had earnings of 38 cents per share. Earnings, adjusted for non-recurring costs, were 51 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The holding company for Investar Bank posted revenue of $32.1 million in the period. Its revenue net of interest expense was $21.2 million, which also did not meet Street forecasts.
