BATON ROUGE (AP) — Baton Rouge-based Investar Holding Corp., the parent company of Investar Bank, reported its third-quarter profit rose to $1.4 million, or 20 cents per share, compared to $700,000, or 16 cents per share, a year ago.
Investar Holding Corporation President and Chief Executive Officer John D'Angelo tells The Advocate the 114 percent increase in net income is one of the highlights of the quarter.
Other financial highlights included increasing:
—Total assets to $784.6 million at Sept. 30, an increase of $149.7 million, or 23.6 percent, since the beginning of the year.
—Gross loans $125.6 million, or 24.7 percent, to $634.7 million, since Dec. 31.
—Commercial and industrial loans $11.6 million, or 35.6 percent, from Dec. 31.
The company also opened its 11th branch in Baton Rouge on Aug. 1.
