There were 1,361 press releases posted in the last 24 hours and 468,204 in the last 365 days.

Investar Holding Corporation Announces Pricing of Subordinated Notes Offering

BATON ROUGE, La., March 21, 2017 (GLOBE NEWSWIRE) -- Investar Holding Corporation (“Investar”) (NASDAQ:ISTR), the parent holding company of Investar Bank, today announced the pricing of its public offering of $18.6 million of its Fixed-to-Floating Rate Subordinated Notes due 2027 (the “Notes”).

The Notes will initially bear interest at 6.00% per annum, payable semi-annually in arrears commencing on September 30, 2017, with interest commencing on the issue date, to, but excluding, March 30, 2022, and, thereafter, payable quarterly in arrears, at an annual floating rate equal to three-month LIBOR (but not less than zero) as determined for the applicable quarterly period, plus 3.945%. The Notes will mature on March 30, 2027. The Notes have been offered to the public at par.

Sandler O’Neill + Partners, L.P. served as the sole book-running manager for the Notes offering.  The Notes offering is expected to close, subject to customary closing conditions, on March 24, 2017. Investar intends to use the net proceeds of the Notes offering to fund a portion of the purchase price of its recently announced proposed merger transaction with Citizens Bancshares, Inc. and for general corporate purposes, including investments in Investar Bank.

Investar is also conducting a concurrent underwritten public offering of 1,411,765 shares of its common stock at a price to the public of $21.25 per share. Today, the underwriters exercised their 30-day option to purchase an additional 211,765 shares of Investar common stock in that offering at the public offering price, less the underwriting discount of $1.0625 per share. The common stock offering is expected to close, subject to customary closing conditions, on March 22, 2017.

Additional Information Regarding the Notes Offering

The offering of Notes is being made pursuant to an effective shelf registration statement (File No. 333-215238) filed by Investar with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus and other documents Investar has filed with the SEC for more complete information about Investar and the offering. 

Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Notes offering can be obtained without charge by visiting the SEC’s website at, or may be obtained from Sandler O’Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, Telephone Number: 1-866-805-4128.

This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, any securities. There will be no sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Notes is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Investar

Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, a state chartered bank. Investar’s primary market is South Louisiana and it currently operates 10 full service banking offices located throughout its market. At December 31, 2016, Investar had 152 full-time equivalent employees.

Forward-Looking Statements

This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events.

Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on Investar’s internet website

Investar disclaims any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law. 

Investar Holding Corporation
Chris Hufft
Chief Financial Officer
(225) 227-2215

Primary Logo