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[8-K] Investar Holding Corporation Reports Material Event

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(Moderate)
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Form Type
8-K
Rhea-AI Filing Summary

Investar Holding Corporation (NASDAQ: ISTR) has entered into two material transactions that reshape its capital structure and growth trajectory.

1. Acquisition of Wichita Falls Bancshares (WFB)
鈥� On 1 July 2025, Investar signed a definitive Agreement and Plan of Merger to acquire WFB, parent of First National Bank, Wichita Falls, TX.
鈥� Consideration: $7.2 million cash plus 3,955,344 ISTR shares; based on 30 June 2025 close of $19.32, total value is 鈮� $83.6 million.
鈥� Post-close, WFB will merge into Investar; the bank subsidiary will merge into Investar Bank, N.A.
鈥� Deal approved unanimously by both boards; expected closing: Q4 2025, subject to customary shareholder and regulatory approvals.
鈥� Key protections: no-shop clause with matching right, outer termination date of 31 Mar 2026 (extendable to 30 Jun 2026 for regulatory delay), and a $3.3 million breakup fee payable by WFB under specified circumstances.

2. Capital Raise 鈥� Series A Preferred Stock Private Placement
鈥� Concurrently, Investar executed a Securities Purchase Agreement to sell 32,500 shares of newly created 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock at $1,000 per share.
鈥� Gross proceeds: $32.5 million; estimated net proceeds: 鈮� $30.4 million.
鈥� Purpose: finance the WFB acquisition, support organic growth, and maintain capital ratios. The preferred is intended to qualify as additional Tier 1 capital.
鈥� The preferred is perpetual, ranks senior to common, carries a 6.5% quarterly dividend (non-cumulative), is optionally redeemable after 1 July 2030, and convertible at the holder鈥檚 option into ISTR common at 47.619 shares per preferred share (鈮� $21.00 implied conversion price), subject to a 1.6 million share cap.
鈥� Mandatory conversion right for Investar after 1 July 2028 if the common stock trades above $26.25 for 20 of 30 consecutive trading days.
鈥� Registration rights require Investar to file a resale shelf within 60 days of closing; shares are sold under Rule 506(b).

Strategic Rationale and Impact
鈥� The acquisition adds a Texas franchise, deepening Investar鈥檚 Gulf South footprint and diversifying its loan/deposit base.
鈥� Stock consideration represents roughly 36% of Investar鈥檚 current shares outstanding (鈮�10.9 m), implying meaningful dilution but preserving regulatory capital.
鈥� The preferred raise back-stops the cash portion and transaction costs while boosting CET1 through AT1 treatment.
鈥� Closing risk includes regulatory approvals, integration execution, and potential dilution from both the acquisition shares and future preferred conversions.

Investar Holding Corporation (NASDAQ: ISTR) ha concluso due operazioni significative che ridefiniscono la sua struttura patrimoniale e il percorso di crescita.

1. Acquisizione di Wichita Falls Bancshares (WFB)
鈥� Il 1掳 luglio 2025, Investar ha firmato un Accordo Definitivo e Piano di Fusione per acquisire WFB, societ脿 madre della First National Bank di Wichita Falls, TX.
鈥� Controvalore: 7,2 milioni di dollari in contanti 辫颈霉 3.955.344 azioni ISTR; basato sul prezzo di chiusura del 30 giugno 2025 di 19,32$, il valore totale 猫 di circa 83,6 milioni di dollari.
鈥� Dopo la chiusura, WFB sar脿 fusa in Investar; la controllata bancaria sar脿 fusa in Investar Bank, N.A.
鈥� L鈥檃ccordo 猫 stato approvato all鈥檜nanimit脿 da entrambi i consigli di amministrazione; la chiusura 猫 prevista per il Q4 2025, soggetta alle consuete approvazioni da parte degli azionisti e delle autorit脿 regolatorie.
鈥� Protezioni chiave: clausola di esclusiva con diritto di pareggio, data ultima di risoluzione al 31 marzo 2026 (prorogabile al 30 giugno 2026 in caso di ritardi regolatori), e una penale di 3,3 milioni di dollari pagabile da WFB in determinate circostanze.

2. Aumento di Capitale 鈥� Collocamento Privato di Azioni Preferred Serie A
鈥� Contestualmente, Investar ha stipulato un Accordo di Acquisto di Titoli per vendere 32.500 azioni di una nuova Serie A Preferred Convertible Non Cumulativa Perpetua al 6,5% al prezzo di 1.000 dollari per azione.
鈥� Proventi lordi: 32,5 milioni di dollari; proventi netti stimati: circa 30,4 milioni di dollari.
鈥� Scopo: finanziare l鈥檃cquisizione di WFB, supportare la crescita organica e mantenere i rapporti patrimoniali. Le preferred sono destinate a qualificarsi come capitale Tier 1 aggiuntivo.
鈥� Le preferred sono perpetue, hanno priorit脿 sulle azioni ordinarie, pagano un dividendo trimestrale del 6,5% (non cumulativo), sono riscattabili opzionalmente dopo il 1掳 luglio 2030 e convertibili a scelta del detentore in azioni ordinarie ISTR al tasso di 47,619 azioni ordinarie per azione preferred (prezzo di conversione implicito di circa 21,00$), con un limite massimo di 1,6 milioni di azioni.
鈥� Diritto di conversione obbligatoria per Investar dopo il 1掳 luglio 2028 se il prezzo dell鈥檃zione ordinaria supera 26,25$ per 20 giorni di borsa su 30 consecutivi.
鈥� Diritti di registrazione richiedono a Investar di depositare un prospetto per la rivendita entro 60 giorni dalla chiusura; le azioni sono vendute ai sensi della Regola 506(b).

Ragioni Strategiche e Impatto
鈥� L鈥檃cquisizione aggiunge una presenza in Texas, ampliando la presenza di Investar nel Gulf South e diversificando il portafoglio prestiti/depositi.
鈥� La componente azionaria rappresenta circa il 36% delle azioni attualmente in circolazione di Investar (circa 10,9 milioni), implicando una diluizione significativa ma preservando il capitale regolamentare.
鈥� L鈥檃umento di capitale preferred supporta la parte in contanti e i costi della transazione, migliorando il CET1 grazie al trattamento AT1.
鈥� I rischi di chiusura includono approvazioni regolatorie, integrazione operativa e potenziali diluizioni derivanti sia dalle azioni dell鈥檃cquisizione sia dalle future conversioni delle azioni preferred.

Investar Holding Corporation (NASDAQ: ISTR) ha concretado dos transacciones importantes que redefinen su estructura de capital y trayectoria de crecimiento.

1. Adquisici贸n de Wichita Falls Bancshares (WFB)
鈥� El 1 de julio de 2025, Investar firm贸 un Acuerdo Definitivo y Plan de Fusi贸n para adquirir WFB, matriz de First National Bank, Wichita Falls, TX.
鈥� Consideraci贸n: 7.2 millones de d贸lares en efectivo 尘谩蝉 3,955,344 acciones ISTR; basado en el cierre del 30 de junio de 2025 de 19.32$, el valor total es aproximadamente 83.6 millones de d贸lares.
鈥� Tras el cierre, WFB se fusionar谩 con Investar; la subsidiaria bancaria se fusionar谩 con Investar Bank, N.A.
鈥� El acuerdo fue aprobado por unanimidad por ambas juntas directivas; cierre esperado en el Q4 2025, sujeto a las aprobaciones habituales de accionistas y reguladores.
鈥� Protecciones clave: cl谩usula de exclusividad con derecho a igualar, fecha l铆mite de terminaci贸n el 31 de marzo de 2026 (prorrogable hasta el 30 de junio de 2026 por retrasos regulatorios), y una tarifa de ruptura de 3.3 millones de d贸lares pagadera por WFB bajo circunstancias espec铆ficas.

2. Aumento de Capital 鈥� Colocaci贸n Privada de Acciones Preferentes Serie A
鈥� Simult谩neamente, Investar ejecut贸 un Acuerdo de Compra de Valores para vender 32,500 acciones de una nueva Serie A Preferente Convertible No Acumulativa Perpetua al 6.5% a 1,000 d贸lares por acci贸n.
鈥� Ingresos brutos: 32.5 millones de d贸lares; ingresos netos estimados: aproximadamente 30.4 millones de d贸lares.
鈥� Prop贸sito: financiar la adquisici贸n de WFB, apoyar el crecimiento org谩nico y mantener los ratios de capital. La preferente est谩 destinada a calificar como capital adicional Tier 1.
鈥� La preferente es perpetua, tiene prioridad sobre las acciones ordinarias, paga un dividendo trimestral del 6.5% (no acumulativo), es rescatable opcionalmente despu茅s del 1 de julio de 2030, y convertible a opci贸n del tenedor en acciones ordinarias ISTR a 47.619 acciones ordinarias por acci贸n preferente (precio de conversi贸n impl铆cito de aproximadamente 21.00$), sujeto a un l铆mite de 1.6 millones de acciones.
鈥� Derecho de conversi贸n obligatoria para Investar despu茅s del 1 de julio de 2028 si la acci贸n ordinaria cotiza por encima de 26.25$ durante 20 de 30 d铆as h谩biles consecutivos.
鈥� Los derechos de registro requieren que Investar presente un prospecto de reventa dentro de los 60 d铆as posteriores al cierre; las acciones se venden bajo la Regla 506(b).

Razonamiento Estrat茅gico e Impacto
鈥� La adquisici贸n a帽ade una franquicia en Texas, profundizando la presencia de Investar en el Gulf South y diversificando su base de pr茅stamos/dep贸sitos.
鈥� La contraprestaci贸n en acciones representa aproximadamente el 36% de las acciones en circulaci贸n actuales de Investar (aproximadamente 10.9 millones), implicando una diluci贸n significativa pero preservando el capital regulatorio.
鈥� La emisi贸n preferente respalda la porci贸n en efectivo y los costos de la transacci贸n, aumentando el CET1 mediante el tratamiento AT1.
鈥� Los riesgos de cierre incluyen aprobaciones regulatorias, ejecuci贸n de la integraci贸n y posible diluci贸n tanto por las acciones de la adquisici贸n como por futuras conversiones de las preferentes.

Investar Holding Corporation (NASDAQ: ISTR)電� 鞛愲掣 甑“鞕� 靹膘灔 瓴诫毳� 鞛幐頃橂姅 霊� 瓯挫潣 欤检殧 瓯半灅毳� 觳搓舶頄堨姷雼堧嫟.

1. Wichita Falls Bancshares (WFB) 鞚胳垬
鈥� 2025雲� 7鞗� 1鞚�, Investar電� WFB(韰嶌偓鞀� Wichita Falls鞐� 鞙勳箻頃� First National Bank鞚� 氇殞靷�)毳� 鞚胳垬頃橁赴 鞙勴暅 斓滌 頃╇硲 瓿勳暯靹滌棎 靹滊獏頄堨姷雼堧嫟.
鈥� 雽�臧�: 720毵� 雼煬 順勱笀瓿� 3,955,344 ISTR 欤检嫕; 2025雲� 6鞗� 30鞚� 膦呹皜 19.32雼煬 旮办 齑� 臧�旃橂姅 鞎� 8,360毵� 雼煬鞛呺媹雼�.
鈥� 瓯半灅 膦呺 頉� WFB電� Investar鞐� 頃╇硲霅橂┌, 鞚�頄� 鞛愴殞靷姅 Investar Bank, N.A.鞐� 頃╇硲霅╇媹雼�.
鈥� 鞏戩偓 鞚挫偓須岅皜 毵岇灔鞚检箻搿� 鞀轨澑頄堨溂氅�, 瓯半灅 膦呺電� 2025雲� 4攵勱赴搿� 鞓堨儊霅橂┌, 欤检＜ 氚� 攴滌牅 雼龟淡鞚� 鞚茧皹鞝侅澑 鞀轨澑 鞝堨皑臧� 頃勳殧頃╇媹雼�.
鈥� 欤检殧 氤错樃 臁绊暛: 毵れ弓 甓岆Μ臧� 韽暔霅� 雲胳嚰 臁绊暛, 2026雲� 3鞗� 31鞚� 膦呺鞚�(攴滌牅 歆�鞐� 鞁� 2026雲� 6鞗� 30鞚缄箤歆� 鞐办灔 臧�電�), 韸轨爼 靸來櫓鞐愳劀 WFB臧� 歆�旮夗暣鞎� 頃橂姅 330毵� 雼煬鞚� 瓿勳暯 頃挫 靾橃垬耄� 韽暔.

2. 鞛愲掣 臁半嫭 鈥� 鞁滊Μ歃� A 鞖办劆欤� 靷 氚滍枆
鈥� 霃欖嫓鞐� Investar電� 靸堧 氚滍枆霅� 6.5% 鞁滊Μ歃� A 牍勲垊鞝� 鞓侁惮 鞝勴櫂 鞖办劆欤� 32,500欤茧ゼ 欤茧嫻 1,000雼煬鞐� 韺愲Г頃橂姅 歃濌秾 毵るГ 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟.
鈥� 齑� 靾橃澋: 3,250毵� 雼煬; 鞓堨儊 靾滌垬鞚奠潃 鞎� 3,040毵� 雼煬鞛呺媹雼�.
鈥� 氇╈爜: WFB 鞚胳垬 鞛愱笀 臁半嫭, 鞙犼赴鞝� 靹膘灔 歆�鞗� 氚� 鞛愲掣 牍勳湪 鞙犾. 鞖办劆欤茧姅 於旉皜 Tier 1 鞛愲掣鞙茧 鞚胳爼霅� 鞓堨爼鞛呺媹雼�.
鈥� 鞖办劆欤茧姅 鞓侁惮鞝侅澊氅�, 氤错喌欤检棎 牍勴暣 鞖办劆 靾滌渼臧� 鞛堦碃, 6.5% 攵勱赴 氚半嫻旮�(牍勲垊鞝�)鞚� 歆�旮夗晿氅�, 2030雲� 7鞗� 1鞚� 鞚错泟 靹犿儩鞝侅溂搿� 靸來櫂 臧�電ロ晿瓿�, 氤挫湢鞛� 靹犿儩鞐� 霐半澕 欤茧嫻 47.619 氤错喌欤�(鞎旍嫓鞝� 鞝勴櫂 臧�瓴� 鞎� 21.00雼煬)搿� 鞝勴櫂 臧�電ロ晿氅�, 160毵� 欤� 頃滊弰臧� 鞝侅毄霅╇媹雼�.
鈥� 2028雲� 7鞗� 1鞚� 鞚错泟 氤错喌欤缄皜 鞐办啀 30瓯半灅鞚� 欷� 20鞚缄皠 26.25雼煬 鞚挫儊 瓯半灅霅� 瓴届毎 Investar電� 臧曥牅 鞝勴櫂 甓岆Μ毳� 臧�歆戨媹雼�.
鈥� 霌彪 甓岆Μ電� Investar臧� 瓯半灅 膦呺 頉� 60鞚� 鞚措偞鞐� 鞛寪毵� 霌彪 靹滊毳� 鞝滌稖頃橂弰搿� 鞖旉惮頃橂┌, 欤检嫕鞚� Rule 506(b)鞐� 霐半澕 韺愲Г霅╇媹雼�.

鞝勲灥鞝� 攴缄卑 氚� 鞓來枼
鈥� 鞚措矆 鞚胳垬搿� 韰嶌偓鞀� 雮� 靷梾 旮半皹鞚� 於旉皜霅橃柎 Investar鞚� Gulf South 歆�鞐� 鞛呾臧� 臧曧檾霅橁碃 雽�於� 氚� 鞓堦笀 旮半皹鞚� 雼る硛頇旊惄雼堧嫟.
鈥� 欤检嫕 雽�臧�電� Investar 順勳灛 氚滍枆 欤检嫕(鞎� 1,090毵� 欤�)鞚� 鞎� 36%鞐� 頃措嫻頃橃棳 靸侂嫻頃� 頋劃 須臣臧� 鞛堨溂雮� 攴滌牅 鞛愲掣鞚� 鞙犾霅╇媹雼�.
鈥� 鞖办劆欤� 氚滍枆鞚� 順勱笀 攵�攵勱臣 瓯半灅 牍勳毄鞚� 歆�鞗愴晿氅� AT1搿� 鞚胳爼氚涭晞 CET1鞚� 臧曧檾頃╇媹雼�.
鈥� 瓯半灅 膦呺 鞙勴棙 鞖旍唽鞐愲姅 攴滌牅 鞀轨澑, 韱淀暕 鞁ろ枆, 鞚胳垬 欤检嫕 氚� 頄ロ泟 鞖办劆欤� 鞝勴櫂鞐� 霐半ジ 頋劃 臧�電レ劚鞚� 韽暔霅╇媹雼�.

Investar Holding Corporation (NASDAQ : ISTR) a conclu deux op茅rations majeures qui red茅finissent sa structure de capital et sa trajectoire de croissance.

1. Acquisition de Wichita Falls Bancshares (WFB)
鈥� Le 1er juillet 2025, Investar a sign茅 un accord d茅finitif et un plan de fusion pour acqu茅rir WFB, soci茅t茅 m猫re de First National Bank, Wichita Falls, TX.
鈥� Contrepartie : 7,2 millions de dollars en esp猫ces plus 3 955 344 actions ISTR ; bas茅 sur le cours de cl么ture au 30 juin 2025 de 19,32 $, la valeur totale est d'environ 83,6 millions de dollars.
鈥� Apr猫s cl么ture, WFB sera fusionn茅e avec Investar ; la filiale bancaire sera fusionn茅e avec Investar Bank, N.A.
鈥� L鈥檃ccord a 茅t茅 approuv茅 脿 l鈥檜nanimit茅 par les deux conseils d鈥檃dministration ; cl么ture pr茅vue au 4e trimestre 2025, sous r茅serve des approbations habituelles des actionnaires et des r茅gulateurs.
鈥� Principales protections : clause d鈥檈xclusivit茅 avec droit de contre-offre, date limite de r茅siliation au 31 mars 2026 (prolongeable jusqu鈥檃u 30 juin 2026 en cas de retard r茅glementaire), et une indemnit茅 de rupture de 3,3 millions de dollars payable par WFB dans des circonstances sp茅cifiques.

2. Lev茅e de fonds 鈥� Placement priv茅 d鈥檃ctions pr茅f茅rentielles S茅rie A
鈥� Parall猫lement, Investar a conclu un accord d鈥檃chat de titres pour vendre 32 500 actions de la nouvelle 6,5 % S茅rie A Preferred Convertible Non-Cumulative Perpetual au prix de 1 000 $ par action.
鈥� Produit brut : 32,5 millions de dollars ; produit net estim茅 : environ 30,4 millions de dollars.
鈥� Objectif : financer l鈥檃cquisition de WFB, soutenir la croissance organique et maintenir les ratios de capital. Les actions pr茅f茅rentielles sont destin茅es 脿 锚tre qualifi茅es de capital additionnel de niveau 1.
鈥� Les actions pr茅f茅rentielles sont perp茅tuelles, ont une priorit茅 sur les actions ordinaires, versent un dividende trimestriel de 6,5 % (non cumulatif), sont rachetables optionnellement apr猫s le 1er juillet 2030, et convertibles 脿 l鈥檕ption du d茅tenteur en actions ordinaires ISTR au taux de 47,619 actions ordinaires par action pr茅f茅rentielle (prix de conversion implicite d鈥檈nviron 21,00 $), avec un plafond de 1,6 million d鈥檃ctions.
鈥� Droit de conversion obligatoire pour Investar apr猫s le 1er juillet 2028 si le cours de l鈥檃ction ordinaire d茅passe 26,25 $ pendant 20 jours de bourse sur 30 cons茅cutifs.
鈥� Les droits d鈥檈nregistrement obligent Investar 脿 d茅poser un prospectus de revente dans les 60 jours suivant la cl么ture ; les actions sont vendues conform茅ment 脿 la r猫gle 506(b).

Justification strat茅gique et impact
鈥� L鈥檃cquisition ajoute une franchise au Texas, renfor莽ant la pr茅sence d鈥橧nvestar dans le Gulf South et diversifiant sa base de pr锚ts/d茅p么ts.
鈥� La contrepartie en actions repr茅sente environ 36 % des actions en circulation actuelles d鈥橧nvestar (environ 10,9 millions), impliquant une dilution significative tout en pr茅servant le capital r茅glementaire.
鈥� La lev茅e d鈥檃ctions pr茅f茅rentielles soutient la portion en esp猫ces et les co没ts de la transaction tout en renfor莽ant le CET1 gr芒ce au traitement AT1.
鈥� Les risques de cl么ture incluent les approbations r茅glementaires, l鈥檈x茅cution de l鈥檌nt茅gration et la dilution potentielle li茅e aux actions de l鈥檃cquisition et aux futures conversions d鈥檃ctions pr茅f茅rentielles.

Investar Holding Corporation (NASDAQ: ISTR) hat zwei wesentliche Transaktionen abgeschlossen, die seine Kapitalstruktur und Wachstumsaussichten neu gestalten.

1. 脺bernahme von Wichita Falls Bancshares (WFB)
鈥� Am 1. Juli 2025 unterzeichnete Investar eine endg眉ltige Fusionsvereinbarung zum Erwerb von WFB, der Muttergesellschaft der First National Bank in Wichita Falls, TX.
鈥� Gegenleistung: 7,2 Millionen US-Dollar in bar plus 3.955.344 ISTR-Aktien; basierend auf dem Schlusskurs vom 30. Juni 2025 von 19,32 US-Dollar betr盲gt der Gesamtwert etwa 83,6 Millionen US-Dollar.
鈥� Nach Abschluss wird WFB in Investar verschmolzen; die Banktochter wird in die Investar Bank, N.A. integriert.
鈥� Die Transaktion wurde von beiden Vorst盲nden einstimmig genehmigt; der Abschluss wird f眉r das 4. Quartal 2025 erwartet, vorbehaltlich der 眉blichen Aktion盲rs- und beh枚rdlichen Genehmigungen.
鈥� Wichtige Schutzma脽nahmen: No-Shop-Klausel mit Mitbewerbsrecht, 盲u脽erstes K眉ndigungsdatum am 31. M盲rz 2026 (verl盲ngerbar bis 30. Juni 2026 bei regulatorischen Verz枚gerungen) sowie eine 3,3 Millionen US-Dollar Abbruchgeb眉hr, die WFB unter bestimmten Umst盲nden zahlen muss.

2. Kapitalerh枚hung 鈥� Private Platzierung von Series A Vorzugsaktien
鈥� Gleichzeitig schloss Investar einen Wertpapierkaufvertrag ab, um 32.500 Aktien der neu geschaffenen 6,5% Series A Non-Cumulative Perpetual Convertible Preferred Stock zu je 1.000 US-Dollar zu verkaufen.
鈥� Bruttoerl枚s: 32,5 Millionen US-Dollar; gesch盲tzter Nettoerl枚s: ca. 30,4 Millionen US-Dollar.
鈥� Zweck: Finanzierung der WFB-Akquisition, Unterst眉tzung organischen Wachstums und Erhaltung der Kapitalquoten. Die Vorzugsaktien sollen als zus盲tzliches Tier-1-Kapital qualifizieren.
鈥� Die Vorzugsaktien sind unbefristet, stehen vor den Stammaktien, zahlen eine viertelj盲hrliche Dividende von 6,5 % (nicht kumulativ), sind nach dem 1. Juli 2030 optional einl枚sbar und k枚nnen vom Inhaber in ISTR-Stammaktien zu 47,619 Aktien je Vorzugsaktie (impliziter Umwandlungspreis ca. 21,00 US-Dollar) umgewandelt werden, begrenzt auf 1,6 Millionen Aktien.
鈥� Pflichtumwandlungsrecht f眉r Investar nach dem 1. Juli 2028, wenn die Stammaktie an 20 von 30 aufeinanderfolgenden Handelstagen 眉ber 26,25 US-Dollar notiert.
鈥� Registrierungspflichten verlangen von Investar, innerhalb von 60 Tagen nach Abschluss einen Verkaufsprospekt einzureichen; die Aktien werden gem盲脽 Regel 506(b) verkauft.

Strategische Begr眉ndung und Auswirkungen
鈥� Die 脺bernahme erweitert die Pr盲senz in Texas, vertieft Investars Marktstellung im Gulf South und diversifiziert die Kredit-/Einlagenbasis.
鈥� Die Aktientauschkomponente entspricht etwa 36 % der aktuell ausstehenden Investar-Aktien (ca. 10,9 Mio.), was eine bedeutende Verw盲sserung bedeutet, jedoch das regulatorische Kapital erh盲lt.
鈥� Die Vorzugsaktienplatzierung sichert den Baranteil und die Transaktionskosten ab und st盲rkt das CET1 durch AT1-Behandlung.
鈥� Risiken beim Abschluss umfassen beh枚rdliche Genehmigungen, Integrationsumsetzung und potenzielle Verw盲sserung durch 脺bernahmeaktien und zuk眉nftige Vorzugsaktienumwandlungen.

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Accretive Gulf-South expansion funded with balanced cash/stock, but sizeable shareholder dilution and regulatory risk remain.

Deal Quality: At 鈮�1.6脳 WFB tangible book (implied), price looks reasonable for a community bank in a complementary market. Cash component is modest, preserving Investar鈥檚 liquidity.
Structure: Mix of cash and 3.96 m shares spreads risk between parties and investors. The $3.3 m breakup fee and no-shop keep competitive tension low.
Synergies: Texas franchise offers cross-sell into energy and small-business sectors; management guides to close by Q4 2025, leaving ample time for regulatory review and integration planning.
Dilution & Capital: New shares equal ~36% of existing float; preferred conversion could add another 1.6 m shares, pushing potential dilution above 45%. However, AT1 treatment of preferred cushions capital ratios.
Risk: Integration of systems/culture, potential credit quality disparities, and market risk if ISTR trades below the implied conversion price.

TL;DR: Transaction is strategically positive but EPS dilution and 6.5% preferred dividend temper near-term upside.

Earnings Impact: Preferred dividend ($2.1 m annually) reduces net income available to common. Share issuance compounds EPS dilution; management must deliver cost saves to offset.
Balance Sheet: Preferred boosts Tier 1; cash proceeds fund merger with minimal leverage impact.
Valuation: Conversion price (~$21) sits 9% above pre-deal close, implying limited overhang if shares rise. Mandatory conversion trigger at $26.25 could accelerate dilution but only in an out-performance scenario.
Investor Considerations: Positive for growth narrative and market diversification, but near-term pressure on ROE and tangible book per share. Impact rated moderately positive given strategic fit.

Investar Holding Corporation (NASDAQ: ISTR) ha concluso due operazioni significative che ridefiniscono la sua struttura patrimoniale e il percorso di crescita.

1. Acquisizione di Wichita Falls Bancshares (WFB)
鈥� Il 1掳 luglio 2025, Investar ha firmato un Accordo Definitivo e Piano di Fusione per acquisire WFB, societ脿 madre della First National Bank di Wichita Falls, TX.
鈥� Controvalore: 7,2 milioni di dollari in contanti 辫颈霉 3.955.344 azioni ISTR; basato sul prezzo di chiusura del 30 giugno 2025 di 19,32$, il valore totale 猫 di circa 83,6 milioni di dollari.
鈥� Dopo la chiusura, WFB sar脿 fusa in Investar; la controllata bancaria sar脿 fusa in Investar Bank, N.A.
鈥� L鈥檃ccordo 猫 stato approvato all鈥檜nanimit脿 da entrambi i consigli di amministrazione; la chiusura 猫 prevista per il Q4 2025, soggetta alle consuete approvazioni da parte degli azionisti e delle autorit脿 regolatorie.
鈥� Protezioni chiave: clausola di esclusiva con diritto di pareggio, data ultima di risoluzione al 31 marzo 2026 (prorogabile al 30 giugno 2026 in caso di ritardi regolatori), e una penale di 3,3 milioni di dollari pagabile da WFB in determinate circostanze.

2. Aumento di Capitale 鈥� Collocamento Privato di Azioni Preferred Serie A
鈥� Contestualmente, Investar ha stipulato un Accordo di Acquisto di Titoli per vendere 32.500 azioni di una nuova Serie A Preferred Convertible Non Cumulativa Perpetua al 6,5% al prezzo di 1.000 dollari per azione.
鈥� Proventi lordi: 32,5 milioni di dollari; proventi netti stimati: circa 30,4 milioni di dollari.
鈥� Scopo: finanziare l鈥檃cquisizione di WFB, supportare la crescita organica e mantenere i rapporti patrimoniali. Le preferred sono destinate a qualificarsi come capitale Tier 1 aggiuntivo.
鈥� Le preferred sono perpetue, hanno priorit脿 sulle azioni ordinarie, pagano un dividendo trimestrale del 6,5% (non cumulativo), sono riscattabili opzionalmente dopo il 1掳 luglio 2030 e convertibili a scelta del detentore in azioni ordinarie ISTR al tasso di 47,619 azioni ordinarie per azione preferred (prezzo di conversione implicito di circa 21,00$), con un limite massimo di 1,6 milioni di azioni.
鈥� Diritto di conversione obbligatoria per Investar dopo il 1掳 luglio 2028 se il prezzo dell鈥檃zione ordinaria supera 26,25$ per 20 giorni di borsa su 30 consecutivi.
鈥� Diritti di registrazione richiedono a Investar di depositare un prospetto per la rivendita entro 60 giorni dalla chiusura; le azioni sono vendute ai sensi della Regola 506(b).

Ragioni Strategiche e Impatto
鈥� L鈥檃cquisizione aggiunge una presenza in Texas, ampliando la presenza di Investar nel Gulf South e diversificando il portafoglio prestiti/depositi.
鈥� La componente azionaria rappresenta circa il 36% delle azioni attualmente in circolazione di Investar (circa 10,9 milioni), implicando una diluizione significativa ma preservando il capitale regolamentare.
鈥� L鈥檃umento di capitale preferred supporta la parte in contanti e i costi della transazione, migliorando il CET1 grazie al trattamento AT1.
鈥� I rischi di chiusura includono approvazioni regolatorie, integrazione operativa e potenziali diluizioni derivanti sia dalle azioni dell鈥檃cquisizione sia dalle future conversioni delle azioni preferred.

Investar Holding Corporation (NASDAQ: ISTR) ha concretado dos transacciones importantes que redefinen su estructura de capital y trayectoria de crecimiento.

1. Adquisici贸n de Wichita Falls Bancshares (WFB)
鈥� El 1 de julio de 2025, Investar firm贸 un Acuerdo Definitivo y Plan de Fusi贸n para adquirir WFB, matriz de First National Bank, Wichita Falls, TX.
鈥� Consideraci贸n: 7.2 millones de d贸lares en efectivo 尘谩蝉 3,955,344 acciones ISTR; basado en el cierre del 30 de junio de 2025 de 19.32$, el valor total es aproximadamente 83.6 millones de d贸lares.
鈥� Tras el cierre, WFB se fusionar谩 con Investar; la subsidiaria bancaria se fusionar谩 con Investar Bank, N.A.
鈥� El acuerdo fue aprobado por unanimidad por ambas juntas directivas; cierre esperado en el Q4 2025, sujeto a las aprobaciones habituales de accionistas y reguladores.
鈥� Protecciones clave: cl谩usula de exclusividad con derecho a igualar, fecha l铆mite de terminaci贸n el 31 de marzo de 2026 (prorrogable hasta el 30 de junio de 2026 por retrasos regulatorios), y una tarifa de ruptura de 3.3 millones de d贸lares pagadera por WFB bajo circunstancias espec铆ficas.

2. Aumento de Capital 鈥� Colocaci贸n Privada de Acciones Preferentes Serie A
鈥� Simult谩neamente, Investar ejecut贸 un Acuerdo de Compra de Valores para vender 32,500 acciones de una nueva Serie A Preferente Convertible No Acumulativa Perpetua al 6.5% a 1,000 d贸lares por acci贸n.
鈥� Ingresos brutos: 32.5 millones de d贸lares; ingresos netos estimados: aproximadamente 30.4 millones de d贸lares.
鈥� Prop贸sito: financiar la adquisici贸n de WFB, apoyar el crecimiento org谩nico y mantener los ratios de capital. La preferente est谩 destinada a calificar como capital adicional Tier 1.
鈥� La preferente es perpetua, tiene prioridad sobre las acciones ordinarias, paga un dividendo trimestral del 6.5% (no acumulativo), es rescatable opcionalmente despu茅s del 1 de julio de 2030, y convertible a opci贸n del tenedor en acciones ordinarias ISTR a 47.619 acciones ordinarias por acci贸n preferente (precio de conversi贸n impl铆cito de aproximadamente 21.00$), sujeto a un l铆mite de 1.6 millones de acciones.
鈥� Derecho de conversi贸n obligatoria para Investar despu茅s del 1 de julio de 2028 si la acci贸n ordinaria cotiza por encima de 26.25$ durante 20 de 30 d铆as h谩biles consecutivos.
鈥� Los derechos de registro requieren que Investar presente un prospecto de reventa dentro de los 60 d铆as posteriores al cierre; las acciones se venden bajo la Regla 506(b).

Razonamiento Estrat茅gico e Impacto
鈥� La adquisici贸n a帽ade una franquicia en Texas, profundizando la presencia de Investar en el Gulf South y diversificando su base de pr茅stamos/dep贸sitos.
鈥� La contraprestaci贸n en acciones representa aproximadamente el 36% de las acciones en circulaci贸n actuales de Investar (aproximadamente 10.9 millones), implicando una diluci贸n significativa pero preservando el capital regulatorio.
鈥� La emisi贸n preferente respalda la porci贸n en efectivo y los costos de la transacci贸n, aumentando el CET1 mediante el tratamiento AT1.
鈥� Los riesgos de cierre incluyen aprobaciones regulatorias, ejecuci贸n de la integraci贸n y posible diluci贸n tanto por las acciones de la adquisici贸n como por futuras conversiones de las preferentes.

Investar Holding Corporation (NASDAQ: ISTR)電� 鞛愲掣 甑“鞕� 靹膘灔 瓴诫毳� 鞛幐頃橂姅 霊� 瓯挫潣 欤检殧 瓯半灅毳� 觳搓舶頄堨姷雼堧嫟.

1. Wichita Falls Bancshares (WFB) 鞚胳垬
鈥� 2025雲� 7鞗� 1鞚�, Investar電� WFB(韰嶌偓鞀� Wichita Falls鞐� 鞙勳箻頃� First National Bank鞚� 氇殞靷�)毳� 鞚胳垬頃橁赴 鞙勴暅 斓滌 頃╇硲 瓿勳暯靹滌棎 靹滊獏頄堨姷雼堧嫟.
鈥� 雽�臧�: 720毵� 雼煬 順勱笀瓿� 3,955,344 ISTR 欤检嫕; 2025雲� 6鞗� 30鞚� 膦呹皜 19.32雼煬 旮办 齑� 臧�旃橂姅 鞎� 8,360毵� 雼煬鞛呺媹雼�.
鈥� 瓯半灅 膦呺 頉� WFB電� Investar鞐� 頃╇硲霅橂┌, 鞚�頄� 鞛愴殞靷姅 Investar Bank, N.A.鞐� 頃╇硲霅╇媹雼�.
鈥� 鞏戩偓 鞚挫偓須岅皜 毵岇灔鞚检箻搿� 鞀轨澑頄堨溂氅�, 瓯半灅 膦呺電� 2025雲� 4攵勱赴搿� 鞓堨儊霅橂┌, 欤检＜ 氚� 攴滌牅 雼龟淡鞚� 鞚茧皹鞝侅澑 鞀轨澑 鞝堨皑臧� 頃勳殧頃╇媹雼�.
鈥� 欤检殧 氤错樃 臁绊暛: 毵れ弓 甓岆Μ臧� 韽暔霅� 雲胳嚰 臁绊暛, 2026雲� 3鞗� 31鞚� 膦呺鞚�(攴滌牅 歆�鞐� 鞁� 2026雲� 6鞗� 30鞚缄箤歆� 鞐办灔 臧�電�), 韸轨爼 靸來櫓鞐愳劀 WFB臧� 歆�旮夗暣鞎� 頃橂姅 330毵� 雼煬鞚� 瓿勳暯 頃挫 靾橃垬耄� 韽暔.

2. 鞛愲掣 臁半嫭 鈥� 鞁滊Μ歃� A 鞖办劆欤� 靷 氚滍枆
鈥� 霃欖嫓鞐� Investar電� 靸堧 氚滍枆霅� 6.5% 鞁滊Μ歃� A 牍勲垊鞝� 鞓侁惮 鞝勴櫂 鞖办劆欤� 32,500欤茧ゼ 欤茧嫻 1,000雼煬鞐� 韺愲Г頃橂姅 歃濌秾 毵るГ 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟.
鈥� 齑� 靾橃澋: 3,250毵� 雼煬; 鞓堨儊 靾滌垬鞚奠潃 鞎� 3,040毵� 雼煬鞛呺媹雼�.
鈥� 氇╈爜: WFB 鞚胳垬 鞛愱笀 臁半嫭, 鞙犼赴鞝� 靹膘灔 歆�鞗� 氚� 鞛愲掣 牍勳湪 鞙犾. 鞖办劆欤茧姅 於旉皜 Tier 1 鞛愲掣鞙茧 鞚胳爼霅� 鞓堨爼鞛呺媹雼�.
鈥� 鞖办劆欤茧姅 鞓侁惮鞝侅澊氅�, 氤错喌欤检棎 牍勴暣 鞖办劆 靾滌渼臧� 鞛堦碃, 6.5% 攵勱赴 氚半嫻旮�(牍勲垊鞝�)鞚� 歆�旮夗晿氅�, 2030雲� 7鞗� 1鞚� 鞚错泟 靹犿儩鞝侅溂搿� 靸來櫂 臧�電ロ晿瓿�, 氤挫湢鞛� 靹犿儩鞐� 霐半澕 欤茧嫻 47.619 氤错喌欤�(鞎旍嫓鞝� 鞝勴櫂 臧�瓴� 鞎� 21.00雼煬)搿� 鞝勴櫂 臧�電ロ晿氅�, 160毵� 欤� 頃滊弰臧� 鞝侅毄霅╇媹雼�.
鈥� 2028雲� 7鞗� 1鞚� 鞚错泟 氤错喌欤缄皜 鞐办啀 30瓯半灅鞚� 欷� 20鞚缄皠 26.25雼煬 鞚挫儊 瓯半灅霅� 瓴届毎 Investar電� 臧曥牅 鞝勴櫂 甓岆Μ毳� 臧�歆戨媹雼�.
鈥� 霌彪 甓岆Μ電� Investar臧� 瓯半灅 膦呺 頉� 60鞚� 鞚措偞鞐� 鞛寪毵� 霌彪 靹滊毳� 鞝滌稖頃橂弰搿� 鞖旉惮頃橂┌, 欤检嫕鞚� Rule 506(b)鞐� 霐半澕 韺愲Г霅╇媹雼�.

鞝勲灥鞝� 攴缄卑 氚� 鞓來枼
鈥� 鞚措矆 鞚胳垬搿� 韰嶌偓鞀� 雮� 靷梾 旮半皹鞚� 於旉皜霅橃柎 Investar鞚� Gulf South 歆�鞐� 鞛呾臧� 臧曧檾霅橁碃 雽�於� 氚� 鞓堦笀 旮半皹鞚� 雼る硛頇旊惄雼堧嫟.
鈥� 欤检嫕 雽�臧�電� Investar 順勳灛 氚滍枆 欤检嫕(鞎� 1,090毵� 欤�)鞚� 鞎� 36%鞐� 頃措嫻頃橃棳 靸侂嫻頃� 頋劃 須臣臧� 鞛堨溂雮� 攴滌牅 鞛愲掣鞚� 鞙犾霅╇媹雼�.
鈥� 鞖办劆欤� 氚滍枆鞚� 順勱笀 攵�攵勱臣 瓯半灅 牍勳毄鞚� 歆�鞗愴晿氅� AT1搿� 鞚胳爼氚涭晞 CET1鞚� 臧曧檾頃╇媹雼�.
鈥� 瓯半灅 膦呺 鞙勴棙 鞖旍唽鞐愲姅 攴滌牅 鞀轨澑, 韱淀暕 鞁ろ枆, 鞚胳垬 欤检嫕 氚� 頄ロ泟 鞖办劆欤� 鞝勴櫂鞐� 霐半ジ 頋劃 臧�電レ劚鞚� 韽暔霅╇媹雼�.

Investar Holding Corporation (NASDAQ : ISTR) a conclu deux op茅rations majeures qui red茅finissent sa structure de capital et sa trajectoire de croissance.

1. Acquisition de Wichita Falls Bancshares (WFB)
鈥� Le 1er juillet 2025, Investar a sign茅 un accord d茅finitif et un plan de fusion pour acqu茅rir WFB, soci茅t茅 m猫re de First National Bank, Wichita Falls, TX.
鈥� Contrepartie : 7,2 millions de dollars en esp猫ces plus 3 955 344 actions ISTR ; bas茅 sur le cours de cl么ture au 30 juin 2025 de 19,32 $, la valeur totale est d'environ 83,6 millions de dollars.
鈥� Apr猫s cl么ture, WFB sera fusionn茅e avec Investar ; la filiale bancaire sera fusionn茅e avec Investar Bank, N.A.
鈥� L鈥檃ccord a 茅t茅 approuv茅 脿 l鈥檜nanimit茅 par les deux conseils d鈥檃dministration ; cl么ture pr茅vue au 4e trimestre 2025, sous r茅serve des approbations habituelles des actionnaires et des r茅gulateurs.
鈥� Principales protections : clause d鈥檈xclusivit茅 avec droit de contre-offre, date limite de r茅siliation au 31 mars 2026 (prolongeable jusqu鈥檃u 30 juin 2026 en cas de retard r茅glementaire), et une indemnit茅 de rupture de 3,3 millions de dollars payable par WFB dans des circonstances sp茅cifiques.

2. Lev茅e de fonds 鈥� Placement priv茅 d鈥檃ctions pr茅f茅rentielles S茅rie A
鈥� Parall猫lement, Investar a conclu un accord d鈥檃chat de titres pour vendre 32 500 actions de la nouvelle 6,5 % S茅rie A Preferred Convertible Non-Cumulative Perpetual au prix de 1 000 $ par action.
鈥� Produit brut : 32,5 millions de dollars ; produit net estim茅 : environ 30,4 millions de dollars.
鈥� Objectif : financer l鈥檃cquisition de WFB, soutenir la croissance organique et maintenir les ratios de capital. Les actions pr茅f茅rentielles sont destin茅es 脿 锚tre qualifi茅es de capital additionnel de niveau 1.
鈥� Les actions pr茅f茅rentielles sont perp茅tuelles, ont une priorit茅 sur les actions ordinaires, versent un dividende trimestriel de 6,5 % (non cumulatif), sont rachetables optionnellement apr猫s le 1er juillet 2030, et convertibles 脿 l鈥檕ption du d茅tenteur en actions ordinaires ISTR au taux de 47,619 actions ordinaires par action pr茅f茅rentielle (prix de conversion implicite d鈥檈nviron 21,00 $), avec un plafond de 1,6 million d鈥檃ctions.
鈥� Droit de conversion obligatoire pour Investar apr猫s le 1er juillet 2028 si le cours de l鈥檃ction ordinaire d茅passe 26,25 $ pendant 20 jours de bourse sur 30 cons茅cutifs.
鈥� Les droits d鈥檈nregistrement obligent Investar 脿 d茅poser un prospectus de revente dans les 60 jours suivant la cl么ture ; les actions sont vendues conform茅ment 脿 la r猫gle 506(b).

Justification strat茅gique et impact
鈥� L鈥檃cquisition ajoute une franchise au Texas, renfor莽ant la pr茅sence d鈥橧nvestar dans le Gulf South et diversifiant sa base de pr锚ts/d茅p么ts.
鈥� La contrepartie en actions repr茅sente environ 36 % des actions en circulation actuelles d鈥橧nvestar (environ 10,9 millions), impliquant une dilution significative tout en pr茅servant le capital r茅glementaire.
鈥� La lev茅e d鈥檃ctions pr茅f茅rentielles soutient la portion en esp猫ces et les co没ts de la transaction tout en renfor莽ant le CET1 gr芒ce au traitement AT1.
鈥� Les risques de cl么ture incluent les approbations r茅glementaires, l鈥檈x茅cution de l鈥檌nt茅gration et la dilution potentielle li茅e aux actions de l鈥檃cquisition et aux futures conversions d鈥檃ctions pr茅f茅rentielles.

Investar Holding Corporation (NASDAQ: ISTR) hat zwei wesentliche Transaktionen abgeschlossen, die seine Kapitalstruktur und Wachstumsaussichten neu gestalten.

1. 脺bernahme von Wichita Falls Bancshares (WFB)
鈥� Am 1. Juli 2025 unterzeichnete Investar eine endg眉ltige Fusionsvereinbarung zum Erwerb von WFB, der Muttergesellschaft der First National Bank in Wichita Falls, TX.
鈥� Gegenleistung: 7,2 Millionen US-Dollar in bar plus 3.955.344 ISTR-Aktien; basierend auf dem Schlusskurs vom 30. Juni 2025 von 19,32 US-Dollar betr盲gt der Gesamtwert etwa 83,6 Millionen US-Dollar.
鈥� Nach Abschluss wird WFB in Investar verschmolzen; die Banktochter wird in die Investar Bank, N.A. integriert.
鈥� Die Transaktion wurde von beiden Vorst盲nden einstimmig genehmigt; der Abschluss wird f眉r das 4. Quartal 2025 erwartet, vorbehaltlich der 眉blichen Aktion盲rs- und beh枚rdlichen Genehmigungen.
鈥� Wichtige Schutzma脽nahmen: No-Shop-Klausel mit Mitbewerbsrecht, 盲u脽erstes K眉ndigungsdatum am 31. M盲rz 2026 (verl盲ngerbar bis 30. Juni 2026 bei regulatorischen Verz枚gerungen) sowie eine 3,3 Millionen US-Dollar Abbruchgeb眉hr, die WFB unter bestimmten Umst盲nden zahlen muss.

2. Kapitalerh枚hung 鈥� Private Platzierung von Series A Vorzugsaktien
鈥� Gleichzeitig schloss Investar einen Wertpapierkaufvertrag ab, um 32.500 Aktien der neu geschaffenen 6,5% Series A Non-Cumulative Perpetual Convertible Preferred Stock zu je 1.000 US-Dollar zu verkaufen.
鈥� Bruttoerl枚s: 32,5 Millionen US-Dollar; gesch盲tzter Nettoerl枚s: ca. 30,4 Millionen US-Dollar.
鈥� Zweck: Finanzierung der WFB-Akquisition, Unterst眉tzung organischen Wachstums und Erhaltung der Kapitalquoten. Die Vorzugsaktien sollen als zus盲tzliches Tier-1-Kapital qualifizieren.
鈥� Die Vorzugsaktien sind unbefristet, stehen vor den Stammaktien, zahlen eine viertelj盲hrliche Dividende von 6,5 % (nicht kumulativ), sind nach dem 1. Juli 2030 optional einl枚sbar und k枚nnen vom Inhaber in ISTR-Stammaktien zu 47,619 Aktien je Vorzugsaktie (impliziter Umwandlungspreis ca. 21,00 US-Dollar) umgewandelt werden, begrenzt auf 1,6 Millionen Aktien.
鈥� Pflichtumwandlungsrecht f眉r Investar nach dem 1. Juli 2028, wenn die Stammaktie an 20 von 30 aufeinanderfolgenden Handelstagen 眉ber 26,25 US-Dollar notiert.
鈥� Registrierungspflichten verlangen von Investar, innerhalb von 60 Tagen nach Abschluss einen Verkaufsprospekt einzureichen; die Aktien werden gem盲脽 Regel 506(b) verkauft.

Strategische Begr眉ndung und Auswirkungen
鈥� Die 脺bernahme erweitert die Pr盲senz in Texas, vertieft Investars Marktstellung im Gulf South und diversifiziert die Kredit-/Einlagenbasis.
鈥� Die Aktientauschkomponente entspricht etwa 36 % der aktuell ausstehenden Investar-Aktien (ca. 10,9 Mio.), was eine bedeutende Verw盲sserung bedeutet, jedoch das regulatorische Kapital erh盲lt.
鈥� Die Vorzugsaktienplatzierung sichert den Baranteil und die Transaktionskosten ab und st盲rkt das CET1 durch AT1-Behandlung.
鈥� Risiken beim Abschluss umfassen beh枚rdliche Genehmigungen, Integrationsumsetzung und potenzielle Verw盲sserung durch 脺bernahmeaktien und zuk眉nftige Vorzugsaktienumwandlungen.

false 0001602658 0001602658 2025-06-30 2025-06-30
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
  
 
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): June 30, 2025
 
 
Investar Holding Corporation
(Exact name of registrant as specified in its charter)
 
 
Louisiana
001-36522
27-1560715
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
   
 
10500 Coursey Blvd.
Baton Rouge, Louisiana 70816
  
 
(Address of principal executive offices) (Zip Code)
  
 
Registrant’s telephone number, including area code: (225) 227-2222
 
  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:
 
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
 
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. ☐
 
 
 
 
 
Item 1.01     Entry into a Material Definitive Agreement
  Agreement and Plan of Merger with Wichita Falls Bancshares, Inc.  
On July 1, 2025, Investar Holding Corporation (“Investar”), the holding company for Investar Bank, National Association, Baton Rouge, Louisiana (“Investar Bank”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Wichita Falls Bancshares, Inc. (“WFB”), the holding company for First National Bank, Wichita Falls, Texas. The Merger Agreement provides for the merger of WFB with and into Investar, with Investar as the surviving corporation. Immediately following the merger, First National Bank will be immediately merged with and into Investar Bank, with Investar Bank as the surviving bank.
 
Under the terms of the Merger Agreement, all of the issued and outstanding shares of WFB common stock will be converted into and represent the right to receive in the aggregate $7.2 million in cash from Investar and 3,955,344 shares of Investar common stock, subject to certain adjustments. Based on Investar’s closing stock price of $19.32 as of June 30, 2025, the transaction is valued at approximately $83.6 million in the aggregate.
 
The Merger Agreement contains customary representations, warranties and covenants by the parties. Included among the covenants contained in the Merger Agreement is the obligation of WFB not to solicit, initiate, encourage or facilitate the making of any inquiries with respect to, or provide any information to, conduct any assessment of or negotiate with any other person with respect to any alternative business combination transaction, subject to certain exceptions. In the event that WFB receives an unsolicited proposal with respect to an alternative business combination transaction that its board of directors determines to be superior to the transaction with Investar, Investar will have an opportunity to match the terms of such proposal, subject to certain requirements.
 
The assertions embodied in the representations and warranties contained in the Merger Agreement were made solely for purposes of the Merger Agreement and may be subject to important qualifications and limitations agreed to by the parties in connection with negotiating terms. Moreover, the representations and warranties are subject to contractual standards of materiality that may be different from what may be viewed as material to shareholders, and the representations and warranties may have been used to allocate risk between Investar and WFB, rather than establishing matters as facts. For the foregoing reasons, no one should rely on such representations, warranties, covenants or other terms, provisions or conditions as statements of factual information regarding Investar or WFB at the time they were made or otherwise. The representations and warranties of the parties will not survive the closing.
 
Consummation of the transactions contemplated by the Merger Agreement is subject to various customary conditions, including, without limitation, the approval of the shareholders of each of Investar and WFB; the receipt of certain regulatory approvals; the accuracy of the representations and warranties of the parties and compliance by the parties with their respective covenants and obligations under the Merger Agreement (subject to customary materiality qualifiers); and the absence of a material adverse change with respect to WFB.
 
The Merger Agreement contains certain termination rights, including the right, subject to certain exceptions, of either party to terminate the Merger Agreement if the closing has not occurred by March 31, 2026 (or June 30, 2026 if the only outstanding closing condition is the receipt of all required regulatory approvals), and the right of WFB to terminate the Merger Agreement, subject to certain conditions, to accept a business combination transaction deemed by its board of directors to be superior to the proposed merger. The Merger Agreement provides for the payment by WFB of a termination fee of $3,300,000 upon the termination of the Merger Agreement under certain circumstances.
 
The foregoing summary of the Merger Agreement is qualified in its entirety by reference to the complete text of the Merger Agreement, which is filed as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference in its entirety.
 
 
 
 
The Merger Agreement has been unanimously approved by the boards of directors of each of Investar and WFB, and the Merger Agreement has been executed and delivered by each of the parties. Subject to the satisfaction of all closing conditions, including the receipt of all required regulatory and shareholder approvals, the merger is expected to be completed in the fourth quarter of 2025. In connection with the execution of the Merger Agreement, certain directors and executive officers of WFB have entered into customary director support agreements and voting agreements related to the transaction. The director support agreements provide generally that the executing party will not solicit the former employees or customers of WFB or otherwise engage in banking activities in competition with Investar for a period of two years following the effective date of the merger, subject to certain exceptions. The voting agreements generally provide that the executing party will vote his or her shares in favor of the Merger Agreement at any meeting of the WFB shareholders called to consider such transaction(s).
  Private Placement of Series A Preferred Stock  
On June 30, 2025, Investar also entered into a Securities Purchase Agreement with certain institutional and other accredited investors relating to the sale by Investar in a private placement offering (the “Private Placement”) of an aggregate of 32,500 shares (the “Private Placement Shares”) of its newly designated 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock (“Series A Preferred Stock”) at a purchase price of $1,000 per share, for aggregate gross proceeds to Investar of approximately $32.5 million. Investar estimates the net proceeds of the Private Placement will be approximately $30.4 million, after deducting placement agent fees and other offering related expenses.  Investar intends to use the net proceeds from the offering to support the acquisition of WFB and for general corporate purposes, including organic growth and other potential acquisitions.  The Series A Preferred Stock is intended to qualify as additional tier 1 capital of Investar.
 
The Securities Purchase Agreement contains representations and warranties, covenants, and indemnification provisions that are customary for private placements of shares of convertible preferred stock by companies that have securities registered with the U.S. Securities and Exchange Commission (the “Commission”). The representations and warranties made by the parties will survive for a period of three years following closing. The assertions embodied in the representations and warranties contained in the Securities Purchase Agreement were made solely for purposes of the Securities Purchase Agreement and may be subject to important qualifications and limitations agreed to by the parties in connection with negotiating terms. Moreover, the representations and warranties are subject to contractual standards of materiality that may be different from what may be viewed as material to shareholders, and the representations and warranties may have been used to allocate risk between Investar and the purchasers party to the Securities Purchase Agreement, rather than establishing matters as facts. For the foregoing reasons, no one should rely on such representations, warranties, covenants or other terms, provisions or conditions as statements of factual information regarding Investar or the purchasers party to the Securities Purchase Agreement at the time they were made or otherwise.
 
The Private Placement Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemption from registration in Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D of the Commission promulgated under the Securities Act, and, as a result, the Private Placement Shares may not be offered or sold in the United States absent a registration statement or exemption from registration. 
 
Contemporaneously with the execution of the Securities Purchase Agreement, Investar and each of the purchasers under the Securities Purchase Agreement entered into the Registration Rights Agreement, by which Investar has agreed at its expense, subject to certain exceptions, to file with the Commission a registration statement with respect to the resale of the Underlying Shares (as defined below) no later than 60 days following the closing of the Private Placement and to have the registration statement declared effective by the Commission no later than the earlier of (i) the fifth trading day after the Commission notifies Investar that it will not review or has completed its review of the registration statement, or (ii) the 120th calendar day following the closing of the Private Placement (or the 150th calendar day following the closing in the event that the registration statement is subject to review by the Commission).
 
The resale registration rights set forth in the Registration Rights Agreement terminate with respect to registrable securities that (i) are sold or otherwise transferred under an effective registration statement under the Securities Act, (ii) cease to be outstanding, (iii) are transferred in a transaction in which the purchaser’s rights are not assigned to the transferee of the securities, (iv) are sold in accordance with Rule 144 promulgated under the Securities Act (“Rule 144”), or (v) become eligible for resale without volume or manner-of-sale restrictions under Rule 144 (or any successor rule then in effect) and without the requirement for Investar to be in compliance with the current public information requirement under Rule 144.
 
 
 
 
The foregoing summary of the Securities Purchase Agreement and Registration Rights Agreement is qualified in its entirety by reference to the complete text of those documents, the forms of which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference in their entirety.
 
Item 3.02     Unregistered Sales of Equity Securities.
 
The information contained in Items 1.01 (under the heading “Private Placement of Preferred Stock”), 3.03 and 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.
 
Item 3.03     Material Modification to Rights of Security Holders.
 
On June 30, 2025, Investar filed Articles of Amendment to its Restated Articles of Incorporation (the “Articles of Amendment”) with the Louisiana Secretary of State, which became effective on June 30, 2025, establishing the relative preferences, rights and limitations of the Series A Preferred Stock, having a liquidation preference of $1,000 per share.  The Articles of Amendment were filed in connection with the Private Placement, as described above. 
 
The Series A Preferred Stock ranks, with respect to the payment of dividends and distributions upon liquidation, dissolution or winding-up, (i) on parity with each class or series of preferred stock or capital stock Investar may issue in the future the terms of which expressly provide that such class or series will rank on a parity with the Series A Preferred Stock as to dividend rights and rights on liquidation, winding up and dissolution of Investar, and (ii) senior to Investar common stock and each other class or series of preferred stock or capital stock Investar may issue in the future the terms of which do not expressly provide that such class or series will rank on a parity with or senior to the Series A Preferred Stock as to dividend rights and/or rights on liquidation, winding-up and dissolution of Investar (“Junior Securities”).
 
Following the issuance of the Private Placement Shares (as described in Item 1.01, above), the ability of Investar to declare or pay dividends on, or purchase, redeem or otherwise acquire, shares of Investar common stock will be subject to certain restrictions in the event that Investar fails to pay dividends in full on the Series A Preferred Stock. These restrictions are set forth in the Articles of Amendment, a copy of which is attached hereto as Exhibit 3.1 and incorporated herein by reference, and the foregoing description of certain terms of the Series A Preferred Stock is qualified in its entirety by reference to the full text of the Articles of Amendment. 
 
The information contained in Item 5.03 of this Current Report on Form 8-K under the heading “Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year” is also incorporated by reference into this Item 3.03.
 
Item 5.03     Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
 
On June 30, 2025, Investar filed the Articles of Amendment with the Louisiana Secretary of State, which became effective as of June 30, 2025, amending Investar’s Restated Articles of Incorporation, by establishing and designating the newly authorized Series A Preferred Stock of Investar initially consisting of 32,500 authorized shares.
 
Holders of Series A Preferred Stock will be entitled to receive, if, when, and as declared by Investar’s Board of Directors, non-cumulative cash dividends at an annual rate per share of Series A Preferred Stock (in each case, only when, as and if declared) of 6.5% on the $1,000 per share liquidation preference, payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year commencing on October 1, 2025. Dividends payable for a dividend period will be computed on the basis of a 360-day year of twelve 30-day months.
 
 
 
 
So long as any Series A Preferred Stock remains outstanding, unless full dividends for the most recently completed dividend period have been declared and paid (or declared and a sum sufficient for the payment thereof has been set aside) on all outstanding shares of Series A Preferred Stock, Investar may not, subject to certain exceptions, declare or pay dividends with respect to, or redeem, purchase or otherwise acquire, any Junior Securities.
 
The Series A Preferred Stock has no maturity date and is perpetual unless redeemed or converted in accordance with the Articles of Amendment. Subject to certain conditions, Investar, at the option of its Board of Directors or any duly authorized committee of the Board of Directors, may redeem, from time to time, out of assets legally available therefor, in whole or in part, the shares of Series A Preferred Stock then outstanding on any dividend payment date (and, for the avoidance of doubt, following the payment of any dividend payable on such dividend payment date) occurring on or after July 1, 2030. In addition, subject to certain conditions, Investar, at the option of its Board of Directors or any duly authorized committee of the Board of Directors, may redeem out of assets legally available therefor, in whole but not in part, the Series A Preferred Stock then outstanding at any time if the Series A Preferred Stock ceases to constitute additional Tier 1 capital of Investar. The redemption price for any such shares of Series A Preferred Stock will be equal to $1,000 per share, plus all declared but unpaid dividends thereon, without regard to, or accumulation of, any undeclared dividends. The Series A Preferred Stock is not subject to redemption at the option of the holder thereof.
 
Each holder of shares of Series A Preferred Stock will have the right, at any time and from time to time, at such holder’s option, to convert all or any portion of such holder’s Series A Preferred Stock into shares of Investar common stock (the “Underlying Shares”) at the rate of 47.619 shares of Investar common stock per share of Series A Preferred Stock (subject to adjustment as described in the Articles of Amendment) (the “Conversion Rate”), plus cash in lieu of fractional shares of Investar common stock. The maximum number of Underlying Shares that may be issued upon conversion of the Series A Preferred Stock is 1,600,000 (subject to certain adjustments as described in the Articles of Amendment). Additionally, subject to certain conditions, on or after July 1, 2028, Investar will have the right, at its option, from time to time on any dividend payment date (and, for the avoidance of doubt, following the payment of any dividend payable on such dividend payment date), to cause some or all of the Series A Preferred Stock to be converted into Underlying Shares at the Conversion Rate if, for 20 trading days within the period of 30 consecutive trading days (including the last trading day of such period) ending on the trading day preceding the date Investar delivers a notice of mandatory conversion to holders of Series A Preferred Stock, the closing price of Investar common stock exceeds $26.25 per share (subject to adjustment as described in the Articles of Amendment).
 
Upon the voluntary or involuntary liquidation, dissolution, or winding-up of Investar, holders of outstanding shares of Series A Preferred Stock will be entitled to be paid out of Investar’s assets legally available for distribution to its shareholders, before any distribution of assets is made to holders of Junior Securities, a liquidating distribution in an amount equal to the greater of (1) an amount equal to $1,000 per share of Series A Preferred Stock, plus any declared and unpaid dividends thereon, and (2) the amount that such holder would have received in respect of the shares of Underlying Shares issuable upon conversion of Series A Preferred Stock held thereby had such holder converted such share of Series A Preferred Stock immediately prior to such time.
 
Upon the occurrence prior to an applicable conversion date of a merger or similar business combination in which Investar common stock is converted into other consideration; a sale of all or substantially all of the property and assets of Investar in which Investar common stock is converted into other consideration; any reclassification of Investar common stock into other securities; or any statutory share exchange of Investar common stock for other securities (each, a “Reorganization Event”), each share of Series A Preferred Stock outstanding immediately prior to such Reorganization Event will, without the consent of any holders, be entitled to receive, out of the assets of Investar or proceeds thereof available for distribution to Investar stockholders, and after satisfaction of all liabilities and obligations to creditors of the corporation and subject to the rights of any securities ranking senior to the Series A Preferred Stock, before any distribution of such assets or proceeds is made to or set aside for the holders of Investar common stock and any other Junior Securities, in full, the greater of the (i) amount per share equal to the liquidation value of $1,000 per share, plus all declared but unpaid dividends thereon, without regard to, or accumulation of, any undeclared dividends, and (ii) amount equal to the distribution amount of such assets or proceeds of Investar as was receivable by a holder of the number of shares of Investar common stock into which such share of Series A Preferred Stock was convertible immediately prior to such Reorganization Event.
 
 
 
 
Holders of the Series A Preferred Stock will have no voting rights, except with respect to certain changes in the terms of the Series A Preferred Stock, certain fundamental business transactions and as otherwise required by applicable law.  In addition, shares of Series A Preferred Stock are not subject to the operation of a sinking fund.
 
Equiniti Trust Company, LLC, Investar’s registrar and transfer agent with respect to its common stock, will serve as the initial transfer agent, registrar, paying agent and conversion agent with respect to the Series A Preferred Stock.  Investar may, in its sole discretion, remove any transfer agent, registrar, paying agent or conversion agent provided that Investar appoints a successor to such position(s) who accepts such appointment prior to the effectiveness of such removal.
 
The Articles of Amendment do not limit the authority of Investar to issue any securities ranking junior or senior to, or on parity with, the Series A Preferred Stock as to dividends and the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of the affairs of Investar.
 
The foregoing description of the material terms of the Series A Preferred Stock is qualified in its entirety by reference to the complete text of the Articles of Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference in its entirety.  The information contained in Item 3.03 of this Current Report on Form 8-K under the heading “Material Modification to Rights of Security Holders” is also incorporated by reference into this Item 5.03.
 
Item 7.01     Regulation FD Disclosure.
 
On July 1, 2025, Investar and Wichita Falls issued a joint press release announcing the execution of the Merger Agreement, and Investar announced the Private Placement.  A copy of the press release is furnished as Exhibit 99.1.
 
On July 1, 2025, Investar issued an investor presentation regarding the matters described in Item 1.01 of this Form 8-K, a copy of which is furnished as Exhibit 99.2.
 
The information set forth in this Item 7.01 (including the information in Exhibits 99.1 and 99.2 hereto) is being furnished to the Commission and will not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under the Exchange Act. Such information will not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as will be expressly set forth by specific reference in such filing.
 
 
 
 
Item 9.01     Financial Statements and Exhibits.
 
(d) Exhibits
     
Exhibit
Number
  
Description of Exhibit
     
2.1
   Agreement and Plan of Merger, dated July 1, 2025, by and among Investar Holding Corporation and Wichita Falls Bancshares, Inc.*
3.1   Articles of Amendment, dated June 30, 2025, to Investar’s Restated Articles of Incorporation.
4.1
   Specimen certificate representing Series A Non-Cumulative Perpetual Convertible Preferred Stock.
10.1
   Form of Securities Purchase Agreement, dated June 30, 2025, by and between Investar Holding Corporation and the purchasers set forth therein.
10.2   Form of Registration Rights Agreement, dated June 30, 2025, by and between Investar Holding Corporation and the purchasers set forth therein.
99.1
  
Press release dated July 1, 2025, announcing merger transaction and private placement.
99.2   Investor Presentation dated July 1, 2025.
104
  
The cover page of Investar Holding Corporation’s Form 8-K is formatted in Inline XBRL.
     
*
   The registrant has omitted schedules and similar attachments to the subject agreement pursuant to Item 601(b)(2) of Regulation S-K. The registrant will furnish a copy of any omitted schedule or similar attachment to the Commission upon request.  
 
Forward-Looking Statements
 
This Current Report on Form 8-K may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “may,” “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast,” and other words and terms of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Investar cautions readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to: statements about the benefits of the proposed merger involving Investar and WFB, including future financial and operating results; statements about Investar’s plans, objectives, expectations and intentions; statements about the expected timing of completion of the proposed merger; and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties relating to: (i) the ability to obtain the requisite shareholder approvals; (ii) the risk that Investar may be unable to obtain governmental and regulatory approvals required to consummate the proposed merger, or required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the merger; (iii) the risk that a condition to closing may not be satisfied; (iv) the timing to consummate the proposed merger; (v) the risk that the businesses will not be integrated successfully; (vi) the risk that the cost savings and any other synergies from the proposed merger may not be fully realized or may take longer to realize than expected; (vii) disruption from the proposed merger making it more difficult to maintain relationships with customers, employees or vendors; (viii) the diversion of management time on merger-related issues; and (ix) other factors which Investar discusses or refers to in the “Risk Factors” section of its most recent Annual Report on Form 10-K filed with the Commission. Each forward-looking statement speaks only as of the date of the particular statement and Investar undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
  Additional Information about the Transaction and Where to Find It  
In connection with the proposed merger, Investar intends to file with the Commission a registration statement on Form S-4 (the “Form S-4”) that will include a joint proxy statement of Investar and WFB and a prospectus of Investar with respect to the shares of Investar common stock to be issued in the proposed merger (the “proxy statement/prospectus”). Investar may also file other relevant documents with the Commission regarding the proposed merger. This document is not a substitute for the Form S-4 or proxy statement/prospectus or any other document that Investar may file with the Commission. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of each of Investar and WFB. Investors and security holders are urged to read the Form S-4, the proxy statement/prospectus and any other relevant documents that may be filed with the Commission, as well as any amendments or supplements to these documents, carefully and in their entirety if and when they become available because they contain or will contain important information about the proposed merger. Investors and security holders will be able to obtain free copies of the Form S-4 and the proxy statement/prospectus (if and when available) and other documents containing important information about Investar, WFB and the proposed merger, once such documents are filed with the Commission through the website maintained by the Commission at http://www.sec.gov. Copies of the documents filed with, or furnished to, the Commission by Investar will be available free of charge in the “Investor Relations” section of Investar’s website at www.investarbank.com. The information included on, or accessible through, Investar’s website is not incorporated by reference into this communication.
  Participants in the Solicitation  
Investar and WFB and their respective directors and officers may be deemed to be participants in the solicitation of proxies from their respective shareholders in connection with the proposed merger. Information about Investar’s directors and executive officers and their ownership of Investar’s securities is set forth in Investar’s filings with the Commission, including its most recent Annual Report on Form 10-K filed with the Commission. To the extent that holdings of Investar’s securities have changed since the amounts printed in most recent Annual Report on Form 10-K filed with the Commission, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the Commission. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed merger may be obtained by reading the proxy statement/prospectus regarding the proposed merger. You may obtain free copies of these documents as described in the preceding paragraph.
 
No Offer or Solicitation
 
The information contained in this Current Report on Form 8-K is not an offer to sell or the solicitation of an offer to buy any securities of Investar. The Private Placement Shares and the Underlying Shares have not been registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
 
 
 
 
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.
 
       
   
INVESTAR HOLDING CORPORATION
       
Date: July 1, 2025
  
By:
/s/ John J. D’Angelo
     
John J. D’Angelo
     
President and Chief Executive Officer
 
 

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Investar Holding

NASDAQ:ISTR

ISTR Rankings

#5872 Ranked by Market Cap
#1413 Ranked by Dividends

ISTR Latest News

Jul 1, 2025
Investar Holding Corporation Announces Completion of $32.5 Million Convertible Preferred Offering
Jul 1, 2025
Investar Holding Corporation Announces Merger with Wichita Falls Bancshares, Inc. and $32.5 Million Capital Raise
Jun 18, 2025
Investar Holding Corporation Declares Quarterly Cash Dividend
Apr 21, 2025
Investar Holding Corporation Announces 2025 First Quarter Results
Mar 19, 2025
Investar Holding Corporation Declares Quarterly Cash Dividend

ISTR Stock Data

187.05M
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7.47%
65.71%
1.19%
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