# EDGAR Filing Document

**Accession Number:** 0001602658
**File Stem:** 0001437749-26-012741
**Filing Date:** 2026-4
**Character Count:** 65054
**Document Hash:** 04ee72a64981a45a203a29806466027b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-012741.hdr.sgml**: 20260420

**ACCESSION NUMBER**: 0001437749-26-012741

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 46

**CONFORMED PERIOD OF REPORT**: 20260420

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260420

**DATE AS OF CHANGE**: 20260420

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investar Holding Corp
- **CENTRAL INDEX KEY:** 0001602658
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 271560715
- **STATE OF INCORPORATION:** LA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36522
- **FILM NUMBER:** 26873258

**BUSINESS ADDRESS:**
- **STREET 1:** 10500 COURSEY BLVD
- **STREET 2:** THIRD FLOOR
- **CITY:** BATON ROUGE
- **STATE:** LA
- **ZIP:** 70816
- **BUSINESS PHONE:** 225-227-2222

**MAIL ADDRESS:**
- **STREET 1:** 10500 COURSEY BLVD
- **STREET 2:** THIRD FLOOR
- **CITY:** BATON ROUGE
- **STATE:** LA
- **ZIP:** 70816

?xml version='1.0' encoding='ASCII'? istr20260407_8k.htm

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

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**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): April 20, 2026**

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## Investar Holding Corporation
**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Louisiana** | **001-36522** | **27-1560715** |
| **(State or other jurisdiction** <br> **of incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

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| |
|:---|
| **10500 Coursey Blvd.**<br> **Baton Rouge, Louisiana 70816** |
| **(Address of principal executive offices) (Zip Code)** |

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**Registrant**'**s telephone number, including area code: (225) 227-2222**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, $1.00 par value per share | ISTR | The Nasdaq Global Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

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On April 20, 2026, Investar Holding Corporation (the "Company"), the holding company of Investar Bank, National Association (the "Bank"), issued a press release reporting first quarter 2026 results and posted on its website its first quarter 2026 earnings release and investor presentation. The materials contain forward-looking statements regarding the Company and include a cautionary note identifying important factors that could cause actual results to differ materially from those anticipated. Copies of the earnings release and investor presentation are furnished as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in Item 2.02, including Exhibit 99.1 and Exhibit 99.2 of this Current Report, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such a filing.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

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| | |
|:---|:---|
| Exhibit Number | Description of Exhibit |
| 99.1 | [Earnings release of Investar Holding Corporation dated April 20, 2026 announcing financial results for the quarter ended March 31, 2026](ex_942761.htm) |
| 99.2 | [Investor presentation dated April 20, 2026](ex_942762.htm) |
| 104 | The cover page of Investar Holding Corporation's Form 8-K is formatted in Inline XBRL |

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **INVESTAR HOLDING CORPORATION** | **INVESTAR HOLDING CORPORATION** |
| Date: April 20, 2026 | By: | /s/ John J. D'Angelo |
|  |  | John J. D'Angelo |
|  |  | President and Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1**

For Immediate Release

**Investar Holding Corporation Announces 2026 First Quarter Results**

**BATON ROUGE, LA / ACCESS Newswire / April 20, 2026 /** Investar Holding Corporation ("Investar") (NASDAQ:ISTR), the holding company for Investar Bank, National Association (the "Bank"), today announced financial results for the quarter ended March 31, 2026. Investar reported net income available to common shareholders of $11.5 million, or $0.77 per diluted common share, for the first quarter of 2026, compared to net income available to common shareholders of $5.4 million, or $0.51 per diluted common share, for the quarter ended December 31, 2025, and net income available to common shareholders of $6.3 million, or $0.63 per diluted common share, for the quarter ended March 31, 2025.

On a non-GAAP basis, core earnings per diluted common share for the first quarter of 2026 were $0.87 compared to $0.58 for the fourth quarter of 2025, and $0.65 for the first quarter of 2025. Core earnings available to common shareholders excludes certain items including, but not limited to, gain on call or sale of investment securities, net; loss on sale or disposition of fixed assets, net; loss on sale of other real estate owned, net; change in the fair value of equity securities; change in the net asset value of other investments; severance; and acquisition expense (refer to the *Reconciliation of Non-GAAP Financial Measures* tables for a reconciliation of GAAP to non-GAAP metrics).

Investar's President and Chief Executive Officer John D'Angelo commented:

"I am extremely pleased with our first quarter results, which reflect both the significant impact of our transformational acquisition of Wichita Falls Bancshares, Inc. and our simultaneous continued execution of our strategy of consistent, quality earnings through the optimization of our balance sheet. Both of these are due to the hard work of our dedicated employees. Our net interest margin improved substantially to 3.59%, a 39 basis point increase from previous quarter, and we had significant improvements in our diluted earnings per share, return on average assets and efficiency ratio.

We were able to grow the yield on interest-earning assets while simultaneously reducing our funding costs. Our decision over the past year to keep duration short on our liabilities provided us with the flexibility to secure lower cost funding that was accretive to our net interest margin by allowing higher cost brokered time deposits to run off and replacing them with lower cost, non-maturing deposits. Additionally, variable rate loans comprised 49% of our loan portfolio at quarter end.

As always, we remain focused on shareholder value and returning capital to shareholders. We repurchased 53,420 shares of our common stock during the first quarter at an average price of $28.63."

**First Quarter Highlights**

• On January 1, 2026, Investar closed its acquisition of Wichita Falls Bancshares, Inc. ("WFB"), headquartered in Wichita Falls, Texas, and its wholly-owned subsidiary, First National Bank. On the date of the acquisition, WFB had $1.2 billion in total assets, including $1.0 billion in gross loans, and $1.0 billion in deposits. In the aggregate, WFB's shareholders received merger consideration consisting of $7.2 million in cash and 3,955,272 shares of Investar's common stock for an aggregate transaction value of $112.9 million.

• Net interest margin improved 39 basis points to 3.59% for the quarter ended March 31, 2026 compared to 3.20% for the quarter ended December 31, 2025 . Exclusive of the interest income accretion from the acquisition of loans and interest recoveries, adjusted net interest margin improved eight basis points to 3.28% for the quarter ended March 31, 2026 compared to 3.20% for the quarter ended December 31, 2025 .

• Diluted earnings per common share were $0.77 for the quarter ended March 31, 2026 compared to $0.51 for the quarter ended December 31, 2025 . Core diluted earnings per common share were $0.87 for the quarter ended March 31, 2026 compared to $0.58 for the quarter ended December 31, 2025 .

• Return on average assets increased to 1.25% for the quarter ended March 31, 2026 compared to 0.83% for the quarter ended December 31, 2025 . Core return on average assets improved to 1.41% for the quarter ended March 31, 2026 compared to 0.93% for the quarter ended December 31, 2025 .

• Efficiency ratio improved to 64.08% for the quarter ended March 31, 2026 compared to 69.34% for the quarter ended December 31, 2025 . Core efficiency ratio improved to 58.46% for the quarter ended March 31, 2026 compared to 66.13% for the quarter ended December 31, 2025 .

• The yield on the loan portfolio increased to 6.28% for the quarter ended March 31, 2026 compared to 5.99% for the quarter ended December 31, 2025 .

• The overall cost of funds for the quarter ended March 31, 2026 decreased four basis points to 2.94% compared to 2.98% for the quarter ended December 31, 2025 . The cost of deposits decreased six basis points to 2.85% for the quarter ended March 31, 2026 compared to 2.91% for the quarter ended December 31, 2025 .

• Total loans increased by $891.8 million, or 41.0% , to $3.07 billion at March 31, 2026 compared to $2.18 billion at December 31, 2025 .

• Variable-rate loans as a percentage of total loans was 49% at March 31, 2026 compared to 38% at December 31, 2025 .

• Book value per common share increased to $27.97 at March 31, 2026 , or 1.2% , compared to $27.63 at December 31, 2025 . Tangible book value per common share decreased to $22.72 at March 31, 2026 , or 3.0% , compared to $23.42 at December 31, 2025 , which represents minimal dilution related to our acquisition of WFB.

• Tota l deposits increased by $882.6 million, or 37.6% , to $3.23 billion at March 31, 2026 compared to $2.35 billion at December 31, 2025 .

• Inv estar repurchased 53,420 shares of its common stock through its stock repurchase program at an average price of $28.63 per share during the quarter ended March 31, 2026 , leaving 327,976 shares authorized for repurchase under the program at March 31, 2026 .

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**Loans**

Total loans were $3.07 billion at March 31, 2026, an increase of $891.8 million, or 41.0%, compared to December 31, 2025, and an increase of $961.2 million, or 45.6%, compared to March 31, 2025. We experienced growth in each loan category primarily as a result of the acquisition of WFB.

The following table sets forth the composition of the total loan portfolio as of the dates indicated (dollars in thousands).

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Linked Quarter Change** | **Linked Quarter Change** | **Year/Year Change** | **Year/Year Change** | **Percentage of Total Loans** | **Percentage of Total Loans** |
|  | **3/31/2026** | **12/31/2025** | **3/31/2025** | $**%** | **%** | $**%** | **%** | **3/31/2026** | **3/31/2025** |
| Mortgage loans on real estate |  |  |  |  |  |  |  |  |  |
| Construction and development | $318868 | $147980 | $149275 |  | 115.5% |  | 113.6% | 10.4% | 7.1% |
| 1-4 Family | 920480 | 376238 | 394735 |  | 144.7 |  | 133.2 | 30.0 | 18.7 |
| Multifamily | 135081 | 130005 | 103248 |  | 3.9 |  | 30.8 | 4.4 | 4.9 |
| Farmland | 7803 | 4788 | 6718 |  | 63.0 |  | 16.2 | 0.3 | 0.3 |
| Commercial real estate |  |  |  |  |  |  |  |  |  |
| Owner-occupied | 505882 | 460126 | 449963 |  | 9.9 |  | 12.4 | 16.5 | 21.4 |
| Nonowner-occupied | 504784 | 452142 | 481905 |  | 11.6 |  | 4.7 | 16.4 | 22.9 |
| Commercial and industrial | 661803 | 595263 | 510765 |  | 11.2 |  | 29.6 | 21.6 | 24.2 |
| Consumer | 13115 | 9431 | 10022 |  | 39.1 |  | 30.9 | 0.4 | 0.5 |
| **Total loans** | $**3067816** | $**2175973** | $**2106631** |  | **41.0%** |  | **45.6%** | **100%** | **100%** |

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At March 31, 2026, the Bank's total business lending portfolio, which consists of loans secured by owner-occupied commercial real estate properties and commercial and industrial loans, was $1.17 billion, an increase of $112.3 million, or 10.6%, compared to $1.06 billion at December 31, 2025, and an increase of $207.0 million, or 21.5%, compared to $960.7 million at March 31, 2025. The increase in the business lending portfolio compared to December 31, 2025 was primarily driven by the acquisition of WFB, partially offset by loan amortization. The increase in the business lending portfolio compared to March 31, 2025 was primarily driven by the acquisition of WFB and increased commercial and industrial loan production.

Nonowner-occupied loans totaled $504.8 million at March 31, 2026, an increase of $52.6 million, or 11.6%, compared to $452.1 million at December 31, 2025, and an increase of $22.9 million, or 4.7%, compared to $481.9 million at March 31, 2025. The increase in nonowner-occupied loans compared to December 31, 2025 and March 31, 2025 was primarily due to the acquisition of WFB, partially offset by loan amortization and payoffs that aligned with our continued strategy to optimize and de-risk the mix of the portfolio.

Construction and development loans totaled $318.9 million at March 31, 2026, an increase of $170.9 million, or 115.5%, compared to $148.0 million at December 31, 2025, and an increase of $169.6 million, or 113.6%, compared to $149.3 million at March 31, 2025. The increase in construction and development loans compared to December 31, 2025 and March 31, 2025 was primarily due to the acquisition of WFB.

<u>Credit Quality</u>

Nonperforming loans were $20.3 million, or 0.66% of total loans, at March 31, 2026, an increase of $11.0 million compared to $9.3 million, or 0.43% of total loans, at December 31, 2025, and an increase of $14.7 million compared to $5.6 million, or 0.27% of total loans, at March 31, 2025. The increase in nonperforming loans compared to December 31, 2025 was primarily attributable to one primarily owner-occupied commercial real estate relationship totaling $6.6 million and nonperforming loans acquired from WFB totaling $3.2 million.

The allowance for credit losses was $36.0 million, or 177.0% and 1.17% of nonperforming and total loans, respectively, at March 31, 2026, compared to $26.3 million, or 284.5% and 1.21% of nonperforming and total loans, respectively, at December 31, 2025, and $26.4 million, or 473.3% and 1.25% of nonperforming and total loans, respectively, at March 31, 2025. On January 1, 2026, Investar recorded an $11.7 million allowance for credit losses due to the acquisition of WFB.

Investar recorded a reversal of credit losses of $2.1 million, $0.1 million and $3.6 million, respectively, for each of the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025. The reversal of credit losses in the quarter ended March 31, 2026 was primarily due to a decrease in total loans during the quarter, changes in the economic forecast and the completion of our annual current expected credit loss allowance model recalibration. The reversal of credit losses in the quarter ended December 31, 2025 was primarily attributable to changes in the economic forecast and loan mix. The reversal of credit losses for the quarter ended March 31, 2025 was primarily due to net recoveries of $3.4 million, primarily due to a $3.3 million property insurance settlement related to a loan relationship that became impaired in the third quarter of 2021 as a result of Hurricane Ida.

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**Deposits**

Total deposits at March 31, 2026 were $3.23 billion, an increase of $882.6 million, or 37.6%, compared to $2.35 billion at December 31, 2025, and an increase of $885.5 million, or 37.7%, compared to $2.35 billion at March 31, 2025.

The following table sets forth the composition of deposits as of the dates indicated (dollars in thousands).

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Linked Quarter Change** | **Linked Quarter Change** | **Linked Quarter Change** | **Year/Year Change** | **Year/Year Change** | **Year/Year Change** | **Percentage of Total Deposits** | **Percentage of Total Deposits** |
|  | **3/31/2026** | **12/31/2025** | **3/31/2025** | **$** | $**%** | **%** | **$** | $**%** | **%** | **3/31/2026** | **3/31/2025** |
| Noninterest-bearing demand deposits | $640129 | $445986 | $436735 | $194143 |  | 43.5% | $203394 |  | 46.6% | 19.8% | 18.6% |
| Interest-bearing demand deposits | 938758 | 608807 | 569903 | 329951 |  | 54.2 | 368855 |  | 64.7 | 29.0 | 24.3 |
| Money market deposits | 374842 | 255500 | 240300 | 119342 |  | 46.7 | 134542 |  | 56.0 | 11.6 | 10.2 |
| Brokered demand deposits |  | 2 |  | (2) |  | (100.0) |  |  |  |  |  |
| Savings deposits | 164815 | 136124 | 136098 | 28691 |  | 21.1 | 28717 |  | 21.1 | 5.1 | 5.8 |
| Brokered time deposits | 101217 | 204069 | 244935 | (102852) |  | (50.4) | (143718) |  | (58.7) | 3.1 | 10.4 |
| Time deposits | 1013052 | 699761 | 719386 | 313291 |  | 44.8 | 293666 |  | 40.8 | 31.4 | 30.7 |
| **Total deposits** | $**3232813** | $**2350249** | $**2347357** | $**882564** |  | **37.6%** | $**8**85456** |  | **37.7%** | **100%** | **100%** |

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The increase in noninterest-bearing demand deposits, interest-bearing demand deposits and money market deposits at March 31, 2026 compared to December 31, 2025 and March 31, 2025 was primarily the result of the acquisition of WFB and organic growth. The increase in time deposits at March 31, 2026 compared to December 31, 2025 and March 31, 2025 was primarily the result of the acquisition of WFB, partially offset by the run-off of higher yielding time deposits. Brokered time deposits were $101.2 million at March 31, 2026 compared to $204.1 million at December 31, 2025 and $244.9 million at March 31, 2025. Investar utilizes brokered time deposits, entirely in denominations of less than $250,000, to secure fixed cost funding and reduce short-term borrowings. At March 31, 2026, the balance of brokered time deposits remained below 10% of total assets, and the remaining weighted-average duration was approximately five months with a weighted-average rate of 3.94%.

**Stockholders' Equity** 

On July 1, 2025, Investar completed a private placement of 32,500 shares of its newly designated Series A Non-Cumulative Perpetual Convertible Preferred Stock ("Series A Preferred Stock") with selected institutional and other accredited investors at a price of $1,000 per share, for aggregate gross proceeds of $32.5 million. The net proceeds were $30.4 million, after deducting placement agent fees and other offering related expenses.

Stockholders' equity was $414.6 million at March 31, 2026, an increase of $113.6 million compared to December 31, 2025, and an increase of $162.9 million compared to March 31, 2025. The increase in stockholders' equity compared to December 31, 2025 was primarily attributable to the acquisition of WFB, and net income for the quarter, partially offset by an increase in accumulated other comprehensive loss due to a decrease in the fair value of the Bank's available for sale securities portfolio. The increase in stockholders' equity compared to March 31, 2025 was primarily attributable to the acquisition of WFB, the issuance of the Series A Preferred Stock, net income for the last twelve months and a decrease in accumulated other comprehensive loss due to an increase in the fair value of the Bank's available for sale securities portfolio.

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**Net Interest Income**

Net interest income for the first quarter of 2026 totaled $32.7 million, an increase of $11.0 million, or 51.0%, compared to the fourth quarter of 2025, and an increase of $14.3 million, or 78.0%, compared to the first quarter of 2025. Total interest income was $53.2 million, $37.1 million and $34.4 million for the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. Total interest expense was $20.5 million, $15.5 million and $16.1 million for the corresponding periods. Included in net interest income for the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025 was $2.8 million, $6,000 and $9,000, respectively, of interest income accretion from the acquisition of loans. Also included in net interest income for the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025 were interest recoveries of $7,000, $1,000 and $50,000, respectively.

Investar's net interest margin was 3.59% for the quarter ended March 31, 2026, compared to 3.20% for the quarter ended December 31, 2025 and 2.87% for the quarter ended March 31, 2025. The increase in net interest margin for the quarter ended March 31, 2026 compared to the quarter ended December 31, 2025 was driven by a 37 basis point increase in the yield on interest-earning assets and a four basis point decrease in the overall cost of funds. The increase in net interest margin for the quarter ended March 31, 2026 compared to the quarter ended March 31, 2025 was driven by a 47 basis point increase in the yield on interest-earning assets and a 28 basis point decrease in the overall cost of funds, primarily brokered time deposits, time deposits and short-term borrowings.

The yield on interest-earning assets was 5.86% for the quarter ended March 31, 2026, compared to 5.49% for the quarter ended December 31, 2025 and 5.39% for the quarter ended March 31, 2025. The increase in the yield on interest-earning assets compared to the quarter ended December 31, 2025 was primarily attributable to a 29 basis point increase in the yield on the loan portfolio. The increase in the yield on interest-earning assets compared to the quarter ended March 31, 2025 was primarily attributable to a 40 basis point increase in the yield on the loan portfolio.

Exclusive of the interest income accretion from the acquisition of loans and interest recoveries, adjusted net interest margin was 3.28% for the quarter ended March 31, 2026, compared to 3.20% for the quarter ended December 31, 2025 and 2.86% for the quarter ended March 31, 2025. The adjusted yield on interest-earning assets was 5.54% for the quarter ended March 31, 2026 compared to 5.49% and 5.38% for the quarters ended December 31, 2025 and March 31, 2025, respectively. Refer to the *Reconciliation of Non-GAAP Financial Measures* tables for a reconciliation of GAAP to non-GAAP metrics.

The cost of deposits decreased six basis points to 2.85% for the quarter ended March 31, 2026 compared to 2.91% for the quarter ended December 31, 2025 and decreased 30 basis points compared to 3.15% for the quarter ended March 31, 2025. The decrease in the cost of deposits compared to the quarters ended December 31, 2025 and March 31, 2025 resulted primarily from both a lower average balance of, and a decrease in rates paid on, brokered time deposits and a decrease in rates paid on time deposits, partially offset by both a higher average balance of, and an increase in rates paid on, interest-bearing demand deposits, and a higher average balance of time deposits.

The cost of short-term borrowings was flat at 3.01% for the quarter ended March 31, 2026 compared to the quarter ended December 31, 2025 and decreased 55 basis points compared to 3.56% for the quarter ended March 31, 2025. The decrease in the cost of short-term borrowings for the quarter ended March 31, 2026 compared to the quarter ended March 31, 2025 resulted primarily from a lower current rate on short-term Federal Home Loan Bank ("FHLB") advances. Average long-term debt increased $30.0 million and $39.0 million compared to the quarters ended December 31, 2025 and March 31, 2025, respectively, to $124.5 million at March 31, 2026 primarily due to the long-term debt acquired from WFB and increased utilization of long-term FHLB advances.

The overall cost of funds for the quarter ended March 31, 2026 decreased four basis points to 2.94% compared to 2.98% for the quarter ended December 31, 2025 and decreased 28 basis points compared to 3.22% for the quarter ended March 31, 2025. The decrease in the cost of funds for the quarter ended March 31, 2026 compared to the quarter ended December 31, 2025 resulted primarily from a decrease in the cost of deposits, discussed above, partially offset by a higher average balance of deposits and increases in the average balance and cost of long-term debt. The decrease in the cost of funds for the quarter ended March 31, 2026 compared to the quarter ended March 31, 2025 resulted primarily from a decrease in the cost of deposits partially offset by higher average balances of deposits and long-term debt, discussed above.

**Noninterest Income**

Noninterest income for the first quarter of 2026 totaled $3.0 million, an increase of $1.1 million, or 61.8%, compared to the fourth quarter of 2025 and an increase of $1.0 million, or 48.2%, compared to the first quarter of 2025.

The increase in noninterest income compared to the quarter ended December 31, 2025 was primarily driven by a $0.2 million increase in interchange fees, a $0.1 million increase in service charges on deposit accounts, and a $0.7 million increase in other operating income. The increase in other operating income was primarily attributable to a $0.4 million increase in change in net asset value of other investments, a $0.1 million increase in distributions from other investments and a $0.1 million increase in wealth management income.

The increase in noninterest income compared to the quarter ended March 31, 2025 was primarily attributable to a $0.2 million increase in interchange fees, a $0.2 million increase in service charges on deposit accounts, a $0.2 million increase in change in fair value of equity securities, and a $0.3 million increase in other operating income. The increase in other operating income was primarily attributable to a $0.1 million increase in distributions from other investments and a $0.1 million increase in wealth management income.

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**Noninterest Expense**

Noninterest expense for the first quarter of 2026 totaled $22.8 million, an increase of $6.6 million, or 40.3%, compared to the fourth quarter of 2025, and an increase of $6.6 million, or 40.7%, compared to the first quarter of 2025.

The increase in noninterest expense for the quarter ended March 31, 2026 compared to the quarter ended December 31, 2025 was primarily driven by a $2.9 million increase in salaries and employee benefits, a $1.3 million increase in acquisition expense, a $0.7 million increase in depreciation and amortization, a $0.4 million increase in data processing, a $0.3 million increase in occupancy, and a $0.7 million increase in other operating expense. The increases were primarily related to the acquisition of WFB on January 1, 2026. The increase in salaries and employee benefits was primarily driven by an increase in employees and $0.3 million of severance recorded during the first quarter of 2026. The increase in other operating expense was primarily attributable to a $0.4 million increase in Federal Deposit Insurance Corporation ("FDIC") assessments, a $0.1 million increase in telecommunications expense and a $0.1 million increase in software expense.

The increase in noninterest expense for the quarter ended March 31, 2026 compared to the quarter ended March 31, 2025 was primarily driven by a $3.3 million increase in salaries and employee benefits, a $1.6 million increase in acquisition expense, a $0.6 million increase in depreciation and amortization, a $0.3 million increase in occupancy, a $0.3 million increase in data processing and a $0.2 million increase in other operating expense. The increases were primarily related to the acquisition of WFB on January 1, 2026. The increase in other operating expense was primarily attributable to a $0.2 million increase in FDIC assessments.

**Taxes**

Investar recorded income tax expense of $2.9 million for the quarter ended March 31, 2026, which equates to an effective tax rate of 19.4%, compared to effective tax rates of 18.3% and 18.4% for the quarters ended December 31, 2025 and March 31, 2025, respectively.

**Basic and Diluted Earnings Per Common Share**

Investar reported basic and diluted earnings per common share of $0.84 and $0.77, respectively, for the quarter ended March 31, 2026, compared to basic and diluted earnings per common share of $0.55 and $0.51, respectively, for the quarter ended December 31, 2025, and basic and diluted earnings per common share of $0.64 and $0.63, respectively, for the quarter ended March 31, 2025.

**About Investar Holding Corporation**

Investar, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association. The Bank currently operates 36 branch locations serving Louisiana, Texas, and Alabama. At March 31, 2026, the Bank had 431 full-time equivalent employees and total assets of $3.9 billion.

**Non-GAAP Financial Measures**

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles in the United States of America, or GAAP. These measures and ratios include "tangible common equity," "tangible assets," "tangible common equity to tangible assets," "tangible book value per common share," "core noninterest income," "core earnings before noninterest expense," "core noninterest expense," "core earnings before income tax expense," "core income tax expense," "core earnings," "core earnings available to common shareholders," "core efficiency ratio," "core return on average assets," "core return on average common equity," "core basic earnings per common share" and "core diluted earnings per common share." We also present certain average loan, yield, net interest income and net interest margin data adjusted to show the effects of excluding interest recoveries and interest income accretion from the acquisition of loans. Management believes these non-GAAP financial measures provide information useful to investors in understanding Investar's financial results, and Investar believes that its presentation, together with the accompanying reconciliations, provides a more complete understanding of factors and trends affecting Investar's business and allows investors to view performance in a manner similar to management, the entire financial services sector, bank stock analysts and bank regulators. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results, and Investar strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. A reconciliation of the non-GAAP financial measures disclosed in this press release to the comparable GAAP financial measures is included at the end of the financial statement tables.

------

**Forward-Looking and Cautionary Statements**

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect Investar's current views with respect to, among other things, future events and financial performance, including the potential impacts of its strategies and the WFB transaction. Investar generally identifies forward-looking statements by terminology such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "could," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of those words or other comparable words.

Any forward-looking statements contained in this press release are based on the historical performance of Investar and its subsidiaries or on Investar's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by Investar that the future plans, estimates or expectations by Investar will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to Investar's operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if Investar's underlying assumptions prove to be incorrect, Investar's actual results may vary materially from those indicated in these statements. Investar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. These factors include, but are not limited to, the following, any one or more of which could materially affect the outcome of future events:

• the significant risks and uncertainties for our business, results of operations and financial condition, as well as our regulatory capital and liquidity ratios and other regulatory requirements caused by business and economic conditions generally and in the financial services industry in particular, whether nationally, regionally or in the markets in which we operate, including heightened uncertainties resulting from recent changing trade and tariff policies that could have an adverse impact on inflation and economic growth at least in the near term;

• changes in inflation, interest rates, yield curves and interest rate spread relationships that affect our loan and deposit pricing;

• our ability to successfully execute ou r strategy f ocused on consistent, quality earnings through the optimization of our balance sheet, and our ability to successfully execute a long-term growth strategy;

• our ability to achieve organic loan and deposit growth, and the composition of that growth;

• our ability to identify and enter into agreements to combine with attractive acquisition candidates, finance acquisitions, complete acquisitions after definitive agreements are entered into, and successfully integrate and grow acquired operations;

• our potential growth, including our entrance or expansion into new markets, and the need for sufficient capital to support that growth;

• a reduction in liquidity, including as a result of a reduction in the amount of deposits we hold or other sources of liquidity;

• inaccuracy of the assumptions and estimates we make in establishing reserves for credit losses and other estimates;

• changes in the quality or composition of our loan portfolio, including adverse developments in borrower industries or in the repayment ability of individual borrowers;

• changes in the quality and composition of, and changes in unrealized losses in, our investment portfolio, including whether we may have to sell securities before their recovery of amortized cost basis and realize losses;

• the extent of continuing client demand for the high level of personalized service that is a key element of our banking approach as well as our ability to execute our strategy generally;

• our dependence on our management team, and our ability to attract and retain qualified personnel;

• the concentration of our business within our geographic areas of operation in Louisiana, Texas and Alabama;

• risks to holders of our common stock relating to our Series A Preferred Stock, including, but not limited to, dividend preferences to holders of the preferred stock, other conditions with respect to the payment of dividends on our common stock, potential dilution upon conversion of the preferred stock, and liquidation preferences to holders of the preferred stock;

• increasing costs of complying with new and potential future regulations;

• new or increasing geopolitical tensions, including resulting from conflicts and wars in the Middle East, Ukraine and Israel and surrounding areas or new areas;

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• the emergence or worsening of widespread public health challenges or pandemics;

• concentration of credit exposure;

• any deterioration in asset quality and higher loan charge-offs, and the time and effort necessary to resolve problem assets;

• fluctuations in the price of oil and natural gas;

• data processing system failures and errors;

• risks associated with our digital transformation process, including increased risks of cyberattacks and other security breaches and challenges associated with addressing the increased prevalence of artificial intelligence;

• risks of losses resulting from increased fraud attacks against us and others in the financial services industry;

• potential impairment of our goodwill and other intangible assets;

• the impact of litigation and other legal proceedings to which we become subject;

• competitive pressures in the commercial finance, retail banking, mortgage lending and consumer finance industries, as well as the financial resources of, and products offered by, competitors;

• the impact of changes in laws and regulations applicable to us, including banking, securities and tax laws and regulations and accounting standards, as well as changes in the interpretation of such laws and regulations by our regulators;

• changes in the scope and costs of FDIC insurance and other coverages;

• governmental monetary and fiscal policies; and

• hurricanes, tropical storms, tropical depressions, floods, winter storms, droughts and other adverse weather events, all of which have affected Investar's market areas from time to time; other natural disasters; oil spills and other man-made disasters; acts of terrorism; other international or domestic calamities; acts of God; and other matters beyond our control.

------

These factors should not be construed as exhaustive. Additional information on these and other risk factors can be found in Part I Item 1A. "Risk Factors" and in the "Cautionary Note Regarding Forward-Looking Statements" in Investar's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission.

For further information contact:

Investar Holding Corporation

Corey Moore

Executive Vice President and Deputy Chief Financial Officer

(225) 227-2348

Corey.Moore@investarbank.com

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---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **SUMMARY FINANCIAL INFORMATION** |
| **(Amounts in thousands, except share data)** |
| **(Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** |
|  | **3/31/2026** | **12/31/2025** | **3/31/2025** | **Linked Quarter** | **Year/Year** |
| **EARNINGS DATA** |  |  |  |  |  |
| Total interest income | $53204 | $37128 | $34434 | 43.3% | 54.5% |
| Total interest expense | 20544 | 15497 | 16089 | 32.6 | 27.7 |
| Net interest income | 32660 | 21631 | 18345 | 51.0 | 78.0 |
| Reversal of credit losses | (2108) | (75) | (3596) | (2710.7) | 41.4 |
| Total noninterest income | 2980 | 1842 | 2011 | 61.8 | 48.2 |
| Total noninterest expense | 22839 | 16277 | 16238 | 40.3 | 40.7 |
| Income before income tax expense | 14909 | 7271 | 7714 | 105.0 | 93.3 |
| Income tax expense | 2885 | 1333 | 1421 | 116.4 | 103.0 |
| Net income | 12024 | 5938 | 6293 | 102.5 | 91.1 |
| Preferred stock dividends declared | 528 | 528 |  |  |  |
| Net income available to common shareholders | $11496 | $5410 | $6293 | 112.5 | 82.7 |
| **AVERAGE BALANCE SHEET DATA** |  |  |  |  |  |
| Total assets | $3910392 | $2836916 | $2725800 | 37.8% | 43.5% |
| Total interest-earning assets | 3684527 | 2683658 | 2590740 | 37.3 | 42.2 |
| Total loans | 3095915 | 2150980 | 2108904 | 43.9 | 46.8 |
| Total interest-bearing deposits | 2662652 | 1917020 | 1887715 | 38.9 | 41.1 |
| Total interest-bearing liabilities | 2836647 | 2060430 | 2023808 | 37.7 | 40.2 |
| Total deposits | 3296288 | 2370480 | 2317795 | 39.1 | 42.2 |
| Total common stockholders' equity | 384774 | 271241 | 247565 | 41.9 | 55.4 |
| **PER COMMON SHARE DATA** |  |  |  |  |  |
| Earnings: |  |  |  |  |  |
| Basic earnings per common share | $0.84 | $0.55 | $0.64 | 52.7% | 31.3% |
| Diluted earnings per common share | 0.77 | 0.51 | 0.63 | 51.0 | 22.2 |
| Core earnings<sup>(1)</sup>: |  |  |  |  |  |
| Core basic earnings per common share<sup>(1)</sup> | 0.95 | 0.63 | 0.66 | 50.8 | 43.9 |
| Core diluted earnings per common share<sup>(1)</sup> | 0.87 | 0.58 | 0.65 | 50.0 | 33.8 |
| Book value per common share | 27.97 | 27.63 | 25.63 | 1.2 | 9.1 |
| Tangible book value per common share<sup>(1)</sup> | 22.72 | 23.42 | 21.40 | (3.0) | 6.2 |
| Common shares outstanding | 13741225 | 9798948 | 9821446 | 40.2 | 39.9 |
| Weighted average common shares outstanding - basic | 13762593 | 9806683 | 9832625 | 40.3 | 40.0 |
| Weighted average common shares outstanding - diluted | 15553534 | 11554939 | 9960940 | 34.6 | 56.1 |
| **PERFORMANCE RATIOS** |  |  |  |  |  |
| Return on average assets | 1.25% | 0.83% | 0.94% | 50.6% | 33.0% |
| Core return on average assets<sup>(1)</sup> | 1.41 | 0.93 | 0.96 | 51.6 | 46.9 |
| Return on average common equity | 12.12 | 7.91 | 10.31 | 53.2 | 17.6 |
| Core return on average common equity<sup>(1)</sup> | 13.78 | 8.97 | 10.62 | 53.6 | 29.8 |
| Net interest margin | 3.59 | 3.20 | 2.87 | 12.2 | 25.1 |
| Net interest income to average assets | 3.39 | 3.03 | 2.73 | 11.9 | 24.2 |
| Noninterest expense to average assets | 2.37 | 2.28 | 2.42 | 3.9 | (2.1) |
| Efficiency ratio<sup>(2)</sup> | 64.08 | 69.34 | 79.77 | (7.6) | (19.7) |
| Core efficiency ratio<sup>(1)</sup> | 58.46 | 66.13 | 78.71 | (11.6) | (25.7) |
| Dividend payout ratio | 13.10 | 20.00 | 16.41 | (34.5) | (20.2) |
| Net charge-offs (recoveries) to average loans | 0.01 |  | (0.16) |  | 106.3 |

---

<sup>(1)</sup> Non-GAAP financial measure. See reconciliation. <br> <sup>(2)</sup> Efficiency ratio represents noninterest expense divided by the sum of net interest income (before provision for credit losses) and noninterest income.

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **SUMMARY FINANCIAL INFORMATION** |
| **(Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** |
|  | **3/31/2026** | **12/31/2025** | **3/31/2025** | **Linked Quarter** | **Year/Year** |
| **ASSET QUALITY RATIOS** |  |  |  |  |  |
| Nonperforming assets to total assets | 0.61% | 0.45% | 0.43% | 35.6% | 41.9% |
| Nonperforming loans to total loans | 0.66 | 0.43 | 0.27 | 53.5 | 144.4 |
| Allowance for credit losses to total loans | 1.17 | 1.21 | 1.25 | (3.3) | (6.4) |
| Allowance for credit losses to nonperforming loans | 177.00 | 284.50 | 473.31 | (37.8) | (62.6) |
| **CAPITAL RATIOS** |  |  |  |  |  |
| **Investar Holding Corporation:** |  |  |  |  |  |
| Total common equity to total assets | 9.92% | 9.56% | 9.22% | 3.8% | 7.6% |
| Tangible common equity to tangible assets<sup>(1)</sup> | 8.21 | 8.22 | 7.82 | (0.2) | 5.0 |
| Tier 1 leverage capital | 10.31 | 10.73 | 9.56 | (3.9) | 7.8 |
| Common equity tier 1 capital<sup>(2)</sup> | 11.46 | 11.18 | 11.16 | 2.5 | 2.7 |
| Tier 1 capital<sup>(2)</sup> | 13.04 | 12.85 | 11.57 | 1.5 | 12.7 |
| Total capital<sup>(2)</sup> | 14.75 | 14.66 | 13.46 | 0.6 | 9.6 |
| **Investar Bank:** |  |  |  |  |  |
| Tier 1 leverage capital | 10.47 | 10.85 | 10.03 | (3.5) | 4.4 |
| Common equity tier 1 capital<sup>(2)</sup> | 13.23 | 13.00 | 12.14 | 1.8 | 9.0 |
| Tier 1 capital<sup>(2)</sup> | 13.23 | 13.00 | 12.14 | 1.8 | 9.0 |
| Total capital<sup>(2)</sup> | 14.39 | 14.11 | 13.29 | 2.0 | 8.3 |

---

<sup>(1)</sup> Non-GAAP financial measure. See reconciliation. <br> <sup>(2)</sup> Estimated for March 31, 2026.

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **CONSOLIDATED BALANCE SHEETS** |
| **(Amounts in thousands, except share data)** |
| **(Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** | **March 31, 2025** |
| **ASSETS** |  |  |  |
| Cash and due from banks | $38985 | $26606 | $26279 |
| Interest-bearing balances due from other banks | 40626 | 14899 | 17243 |
| &nbsp;&nbsp;&nbsp; **Cash and cash equivalents** | 79611 | 41505 | 43522 |
| Available for sale securities at fair value (amortized cost of $459,710, $416,002 and $400,211, respectively) | 412557 | 370614 | 345728 |
| Held to maturity securities at amortized cost (fair value of $50,789, $50,540 and $42,720, respectively) | 48044 | 48199 | 42268 |
| Loans | 3067816 | 2175973 | 2106631 |
| Less: allowance for credit losses | (35985) | (26349) | (26435) |
| &nbsp;&nbsp;&nbsp; **Loans, net** | 3031831 | 2149624 | 2080196 |
| Equity securities at fair value | 3484 | 3354 | 2517 |
| Nonmarketable equity securities | 21373 | 17021 | 14297 |
| Bank premises and equipment, net of accumulated depreciation of $24,551, $23,836 and $22,259, respectively | 60238 | 39534 | 40350 |
| Other real estate owned, net | 3390 | 3374 | 6169 |
| Accrued interest receivable | 19757 | 14289 | 15264 |
| Deferred tax asset | 15850 | 14050 | 15646 |
| Goodwill and other intangible assets, net | 72138 | 41184 | 41558 |
| Bank owned life insurance | 83603 | 69188 | 60151 |
| Other assets | 23239 | 21112 | 22236 |
| **Total assets** | $3875115 | $2833048 | $2729902 |
| **LIABILITIES** |  |  |  |
| **Deposits** |  |  |  |
| Noninterest-bearing | $640129 | $445986 | $436735 |
| Interest-bearing | 2592684 | 1904263 | 1910622 |
| &nbsp;&nbsp;&nbsp; **Total deposits** | 3232813 | 2350249 | 2347357 |
| Advances from Federal Home Loan Bank | 136032 | 116000 | 60000 |
| Repurchase agreements | 18363 | 11183 | 11302 |
| Subordinated debt, net of unamortized issuance costs | 16749 | 16738 | 16707 |
| Junior subordinated debt | 23019 | 8830 | 8758 |
| Accrued taxes and other liabilities | 33505 | 28975 | 34041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities** | 3460481 | 2531975 | 2478165 |
| **STOCKHOLDERS' EQUITY** |  |  |  |
| Preferred stock, no par value per share; 5,000,000 shares authorized; 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock; 32,500 shares ($1,000 liquidation preference) issued and outstanding at March 31, 2026 and December 31, 2025 and none issued and outstanding at March 31, 2025 | 30353 | 30353 |  |
| Common stock, $1.00 par value per share; 40,000,000 shares authorized; 13,741,225, 9,798,948 and 9,821,446 shares issued and outstanding, respectively | 13741 | 9799 | 9821 |
| Surplus | 247156 | 146133 | 146598 |
| Retained earnings | 160494 | 150510 | 138197 |
| Accumulated other comprehensive loss | (37110) | (35722) | (42879) |
| **Total stockholders' equity** | 414634 | 301073 | 251737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities and stockholders' equity** | $3875115 | $2833048 | $2729902 |

---

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **CONSOLIDATED STATEMENTS OF INCOME** |
| **(Amounts in thousands, except share data)** |
| **(Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **For the three months ended** | **For the three months ended** | **For the three months ended** |
|  | **March 31, 2026** | **December 31, 2025** | **March 31, 2025** |
| **INTEREST INCOME** |  |  |  |
| Interest and fees on loans | $47954 | $32477 | $30552 |
| Interest on investment securities |  |  |  |
| &nbsp;&nbsp;&nbsp; Taxable | 3372 | 3204 | 2679 |
| Tax-exempt | 741 | 718 | 671 |
| Other interest income | 1137 | 729 | 532 |
| Total interest income | 53204 | 37128 | 34434 |
| **INTEREST EXPENSE** |  |  |  |
| Interest on deposits | 18710 | 14046 | 14640 |
| Interest on borrowings | 1834 | 1451 | 1449 |
| Total interest expense | 20544 | 15497 | 16089 |
| Net interest income | 32660 | 21631 | 18345 |
| Reversal of credit losses | (2108) | (75) | (3596) |
| Net interest income after reversal of credit losses | 34768 | 21706 | 21941 |
| **NONINTEREST INCOME** |  |  |  |
| Service charges on deposit accounts | 956 | 841 | 795 |
| Gain on call or sale of investment securities, net |  | 16 |  |
| Loss on sale or disposition of fixed assets, net |  |  | (3) |
| Loss on sale of other real estate owned, net | (84) | (94) |  |
| Gain on sale of loans | 26 |  |  |
| Interchange fees | 559 | 389 | 390 |
| Income from bank owned life insurance | 664 | 576 | 448 |
| Change in the fair value of equity securities | 130 | 84 | (76) |
| Other operating income | 729 | 30 | 457 |
| Total noninterest income | 2980 | 1842 | 2011 |
| Income before noninterest expense | 37748 | 23548 | 23952 |
| **NONINTEREST EXPENSE** |  |  |  |
| Depreciation and amortization | 1344 | 678 | 721 |
| Salaries and employee benefits | 12947 | 10066 | 9603 |
| Occupancy | 988 | 672 | 641 |
| Data processing | 1214 | 814 | 897 |
| Marketing | 99 | 105 | 111 |
| Professional fees | 799 | 521 | 591 |
| Acquisition expenses | 1728 | 449 | 159 |
| Other operating expenses | 3720 | 2972 | 3515 |
| Total noninterest expense | 22839 | 16277 | 16238 |
| Income before income tax expense | 14909 | 7271 | 7714 |
| Income tax expense | 2885 | 1333 | 1421 |
| Net income | 12024 | 5938 | 6293 |
| Preferred stock dividends declared | 528 | 528 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income available to common shareholders | $11496 | $5410 | $6293 |
| **EARNINGS PER COMMON SHARE** |  |  |  |
| Basic earnings per common share | $0.84 | $0.55 | $0.64 |
| Diluted earnings per common share | 0.77 | 0.51 | 0.63 |
| Cash dividends declared per common share | 0.11 | 0.11 | 0.105 |

---

------

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| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **CONSOLIDATED AVERAGE BALANCE SHEET, INTEREST EARNED AND YIELD ANALYSIS** |
| **(Amounts in thousands)** |
| **(Unaudited)** |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** |
|  |  | **Interest** |  |  | **Interest** |  |  | **Interest** |  |
|  | **Average** | **Income/** |  | **Average** | **Income/** |  | **Average** | **Income/** |  |
|  | **Balance** | **Expense** | **Yield/ Rate** | **Balance** | **Expense** | **Yield/ Rate** | **Balance** | **Expense** | **Yield/ Rate** |
| **Assets** |  |  |  |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| Loans | $3095915 | $47954 | 6.28% | $2150980 | $32477 | 5.99% | $2108904 | $30552 | 5.88% |
| Securities: |  |  |  |  |  |  |  |  |  |
| Taxable | 428523 | 3372 | 3.19 | 412959 | 3204 | 3.08 | 387538 | 2679 | 2.80 |
| Tax-exempt | 56639 | 741 | 5.31 | 54667 | 718 | 5.21 | 50761 | 671 | 5.36 |
| Interest-bearing balances with banks | 103450 | 1137 | 4.46 | 65052 | 729 | 4.44 | 43537 | 532 | 4.95 |
| Total interest-earning assets | 3684527 | 53204 | 5.86 | 2683658 | 37128 | 5.49 | 2590740 | 34434 | 5.39 |
| Cash and due from banks | 32966 |  |  | 28990 |  |  | 26126 |  |  |
| Intangible assets | 77480 |  |  | 41246 |  |  | 41630 |  |  |
| Other assets | 153315 |  |  | 109445 |  |  | 93989 |  |  |
| Allowance for credit losses | (37896) |  |  | (26423) |  |  | (26685) |  |  |
| Total assets | $3910392 |  |  | $2836916 |  |  | $2725800 |  |  |
| **Liabilities and stockholders' equity** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| Deposits: |  |  |  |  |  |  |  |  |  |
| Interest-bearing demand deposits | $1289503 | $7671 | 2.41% | $873065 | $4912 | 2.23% | $771623 | $4079 | 2.14% |
| &nbsp;&nbsp;&nbsp; Brokered demand deposits |  |  |  | 369 | 3 | 3.68 | 8512 | 94 | 4.46 |
| Savings deposits | 165576 | 361 | 0.88 | 136712 | 366 | 1.06 | 134142 | 351 | 1.06 |
| Brokered time deposits | 152288 | 1507 | 4.01 | 199823 | 2109 | 4.19 | 252276 | 3033 | 4.88 |
| Time deposits | 1055285 | 9171 | 3.52 | 707051 | 6656 | 3.73 | 721162 | 7083 | 3.98 |
| Total interest-bearing deposits | 2662652 | 18710 | 2.85 | 1917020 | 14046 | 2.91 | 1887715 | 14640 | 3.15 |
| Short-term borrowings | 49501 | 367 | 3.01 | 48941 | 372 | 3.01 | 50641 | 445 | 3.56 |
| Long-term debt | 124494 | 1467 | 4.78 | 94469 | 1079 | 4.53 | 85452 | 1004 | 4.77 |
| Total interest-bearing liabilities | 2836647 | 20544 | 2.94 | 2060430 | 15497 | 2.98 | 2023808 | 16089 | 3.22 |
| Noninterest-bearing deposits | 633636 |  |  | 453460 |  |  | 430080 |  |  |
| Other liabilities | 24982 |  |  | 21432 |  |  | 24347 |  |  |
| Stockholders' equity | 415127 |  |  | 301594 |  |  | 247565 |  |  |
| Total liability and stockholders' equity | $3910392 |  |  | $2836916 |  |  | $2725800 |  |  |
| Net interest income/net interest margin |  | $32660 | 3.59% |  | $21631 | 3.20% |  | $18345 | 2.87% |

---

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **RECONCILIATION OF NON-GAAP FINANCIAL MEASURES** |
| **INTEREST EARNED AND YIELD ANALYSIS ADJUSTED FOR INTEREST RECOVERIES AND ACCRETION** |
| **(Amounts in thousands)** |
| **(Unaudited)** |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** | **For the three months ended** |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** |
|  |  | **Interest** |  |  | **Interest** |  |  | **Interest** |  |
|  | **Average** | **Income/** |  | **Average** | **Income/** |  | **Average** | **Income/** |  |
|  | **Balance** | **Expense** | **Yield/ Rate** | **Balance** | **Expense** | **Yield/ Rate** | **Balance** | **Expense** | **Yield/ Rate** |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| Loans | $3095915 | $47954 | 6.28% | $2150980 | $32477 | 5.99% | $2108904 | $30552 | 5.88% |
| Adjustments: |  |  |  |  |  |  |  |  |  |
| Interest recoveries |  | 7 |  |  | 1 |  |  | 50 |  |
| Accretion |  | 2848 |  |  | 6 |  |  | 9 |  |
| Adjusted loans | 3095915 | 45099 | 5.91 | 2150980 | 32470 | 5.99 | 2108904 | 30493 | 5.86 |
| Securities: |  |  |  |  |  |  |  |  |  |
| Taxable | 428523 | 3372 | 3.19 | 412959 | 3204 | 3.08 | 387538 | 2679 | 2.80 |
| Tax-exempt | 56639 | 741 | 5.31 | 54667 | 718 | 5.21 | 50761 | 671 | 5.36 |
| Interest-bearing balances with banks | 103450 | 1137 | 4.46 | 65052 | 729 | 4.44 | 43537 | 532 | 4.95 |
| Adjusted interest-earning assets | 3684527 | 50349 | 5.54 | 2683658 | 37121 | 5.49 | 2590740 | 34375 | 5.38 |
| Total interest-bearing liabilities | 2836647 | 20544 | 2.94 | 2060430 | 15497 | 2.98 | 2023808 | 16089 | 3.22 |
| Adjusted net interest income/adjusted net interest margin |  | $29805 | 3.28% |  | $21624 | 3.20% |  | $18286 | 2.86% |

---

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **RECONCILIATION OF NON-GAAP FINANCIAL MEASURES** |
| **(Amounts in thousands, except share data)** |
| **(Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** | **March 31, 2025** |
| **Tangible common equity** |  |  |  |
| Total stockholders' equity | $414634 | $301073 | $251737 |
| &nbsp;&nbsp;&nbsp; Less: preferred stock | 30353 | 30353 |  |
| Total common equity | 384281 | 270720 | 251737 |
| Adjustments: |  |  |  |
| Goodwill | 58090 | 40088 | 40088 |
| &nbsp;&nbsp;&nbsp; Core deposit intangible | 13948 | 996 | 1370 |
| Trademark intangible | 100 | 100 | 100 |
| Tangible common equity | $312143 | $229536 | $210179 |
| **Tangible assets** |  |  |  |
| Total assets | $3875115 | $2833048 | $2729902 |
| Adjustments: |  |  |  |
| Goodwill | 58090 | 40088 | 40088 |
| Core deposit intangible | 13948 | 996 | 1370 |
| Trademark intangible | 100 | 100 | 100 |
| Tangible assets | $3802977 | $2791864 | $2688344 |
| Common shares outstanding | 13741225 | 9798948 | 9821446 |
| Tangible common equity to tangible assets | 8.21% | 8.22% | 7.82% |
| Book value per common share | $27.97 | $27.63 | $25.63 |
| Tangible book value per common share | 22.72 | 23.42 | 21.40 |

---

------

---

| |
|:---|
| **INVESTAR HOLDING CORPORATION** |
| **RECONCILIATION OF NON-GAAP FINANCIAL MEASURES** |
| **(Amounts in thousands, except share data)** |
| **(Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **For the three months ended** | **For the three months ended** | **For the three months ended** |
|  |  | **3/31/2026** | **12/31/2025** | **3/31/2025<sup>(1)</sup>** |
| Net interest income | (a) | $32660 | $21631 | $18345 |
| Reversal of credit losses<sup>(2)</sup> |  | (2108) | (75) | (3596) |
| Net interest income after reversal of credit losses<sup>(2)</sup> |  | 34768 | 21706 | 21941 |
| Total noninterest income | (b) | 2980 | 1842 | 2011 |
| Gain on call or sale of investment securities, net |  |  | (16) |  |
| Loss on sale or disposition of fixed assets, net |  |  |  | 3 |
| Loss on sale of other real estate owned, net |  | 84 | 94 |  |
| Gain on sale of loans |  | (26) |  |  |
| Change in the fair value of equity securities |  | (130) | (84) | 76 |
| Change in the net asset value of other investments<sup>(3)</sup> |  | (17) | 389 | (6) |
| Core noninterest income | (d) | 2891 | 2225 | 2084 |
| Core earnings before noninterest expense<sup>(2)</sup> |  | 37659 | 23931 | 24025 |
| Total noninterest expense | (c) | 22839 | 16277 | 16238 |
| Severance<sup>(4)</sup> |  | (327) | (52) |  |
| Acquisition expense |  | (1728) | (449) | (159) |
| Core noninterest expense<sup>(2)</sup> | (f) | 20784 | 15776 | 16079 |
| Core earnings before income tax expense<sup>(2)</sup> |  | 16875 | 8155 | 7946 |
| Core income tax expense<sup>(5)</sup> |  | 3274 | 1492 | 1462 |
| Core earnings<sup>(2)</sup> |  | 13601 | 6663 | 6484 |
| Preferred stock dividends declared |  | 528 | 528 |  |
| Core earnings available to common shareholders<sup>(2)</sup> |  | $13073 | $6135 | $6484 |
| Core basic earnings per common share<sup>(2)</sup> |  | $0.95 | $0.63 | $0.66 |
| Diluted earnings per common share (GAAP) |  | $0.77 | $0.51 | $0.63 |
| Gain on call or sale of investment securities, net |  |  |  |  |
| Loss on sale or disposition of fixed assets, net |  |  |  |  |
| Loss on sale of other real estate owned, net |  |  | 0.01 |  |
| Gain on sale of loans |  |  |  |  |
| Change in the fair value of equity securities |  | (0.01) | (0.01) | 0.01 |
| Change in the net asset value of other investments<sup>(3)</sup> |  |  | 0.03 |  |
| Severance<sup>(4)</sup> |  | 0.02 | 0.01 |  |
| Acquisition expense |  | 0.09 | 0.03 | 0.01 |
| Core diluted earnings per common share<sup>(2)</sup> |  | $0.87 | $0.58 | $0.65 |
| Efficiency ratio | (c) / (a+b) | 64.08% | 69.34% | 79.77% |
| Core efficiency ratio<sup>(2)</sup> | (f) / (a+d) | 58.46 | 66.13 | 78.71 |
| Core return on average assets<sup>(2)(6)</sup> |  | 1.41 | 0.93 | 0.96 |
| Core return on average common equity<sup>(2)(7)</sup> |  | 13.78 | 8.97 | 10.62 |
| Total average assets |  | $3910392 | $2836916 | $2725800 |
| Total average common stockholders' equity |  | 384774 | 271241 | 247565 |

---

<sup>(1)</sup> All core results and core metrics for the quarter ended March 31, 2025 exclude $0.2 million of acquisition expense incurred during that quarter related to the WFB transaction. Those expenses were included in other operating expenses in the first quarter 2025 disclosures.

<sup>(2)</sup> Reversal of credit losses, net interest income after reversal of credit losses, core earnings before noninterest expense, core noninterest expense, core earnings before income tax expense, core earnings and core earnings available to common shareholders include a $3.3 million recovery of loans previously charged off due to a property insurance settlement related to a loan relationship that became impaired in the third quarter of 2021 as a result of Hurricane Ida and $0.2 million in related noninterest expense recorded during the quarter ended March 31, 2025. Excluding the $3.1 million favorable impact on pre-tax net income, core basic earnings per share, core diluted earnings per share, core efficiency ratio, core return on average assets, and core return on average equity were $0.40, $0.40, 77.75%, 0.59%, and 6.46%, respectively, for the quarter ended March 31, 2025.

<sup>(3)</sup> Change in net asset value of other investments represents unrealized gains or losses on Investar's investments in Small Business Investment Companies and other investment funds included in other operating income in the accompanying consolidated statements of income.

<sup>(4)</sup> Severance is included in salaries and employee benefits in the accompanying consolidated statements of income.

<sup>(5)</sup> Core income tax expense is calculated using the effective tax rates of 19.4%, 18.3% and 18.4% for the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

<sup>(6)</sup> Core earnings used in calculation. No adjustments were made to total average assets.

<sup>(7)</sup> Core earnings available to common shareholders used in calculation. No adjustments were made to total average common stockholders' equity.

## Exhibit 99.2

**Exhibit 99.2**

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