1. A Louisiana-specific Regions Bank.

2. Like a community-focused PNC Bank, but for South Louisiana.

• Deposit Accounts: Offers various accounts such as savings, checking, money market, individual retirement accounts, and certificates of deposit.
• Loan Products: Provides a comprehensive suite of loans including commercial real estate, commercial and industrial, construction, residential real estate, and diverse consumer loans.
• Cash Management Services: Delivers business solutions like remote deposit capture, lockbox payment processing, ACH origination, wire transfers, and business internet banking.
• General Banking & Payment Services: Includes debit cards, mobile banking, cashiers' checks, direct deposit, ATM/ITM services, merchant card services, and mobile wallet payments.

Investar (ISTR) serves two primary categories of customers:

• Individuals in South Louisiana for their personal banking needs, including various deposit accounts, residential real estate loans, consumer loans, and other banking services.
• Small to medium-sized businesses in South Louisiana, providing commercial real estate loans, commercial and industrial loans, construction loans, various deposit products, cash management services, and other business banking solutions.

• Fiserv, Inc. (FISV)

John J. D'Angelo, President and Chief Executive Officer

Mr. D'Angelo has served as President and Chief Executive Officer of Investar Holding Corporation since its organization as a bank holding company in 2013, and as President and Chief Executive Officer of Investar Bank since its founding in 2006. He founded Investar Bank. Prior to founding the bank, he was manager of private banking, small business banking, construction lending, brokerage, and trust areas at Hibernia National Bank for over six years. From 1996 to 2005, Mr. D'Angelo was president and director of Aegis Lending Corporation, which operated in 46 states and the District of Columbia.

John Campbell, Executive Vice President and Chief Financial Officer

Mr. Campbell joined Investar Bank as Chief Financial Officer in January 2023. Before joining Investar, he was the Director of Accounting and Corporate Controller for Laitram LLC, a global manufacturing company. He also held corporate treasury, accounting and financial reporting, portfolio management, and lending roles for Hibernia National Bank for over ten years, and spent four years as an auditor with Ernst & Young LLP, serving both public and privately-held clients.

Linda M. Crochet, Executive Vice President and Chief Operations Officer

Ms. Crochet joined Investar Bank in January 2019, initially serving as the Greater Baton Rouge Loan Portfolio President.

Jeffrey W. Martin, Executive Vice President and Chief Risk Officer and Chief Credit Officer

Mr. Martin joined Investar Bank in April 2020 as the Business Banking Director. He assumed the role of Chief Risk Officer in October 2025 and Chief Credit Officer in October 2021. With over 30 years of banking experience, he previously served as a Commercial Banking Executive for Regions Bank, holding senior roles in credit risk management, special assets, business development strategy, and commercial banking.

Corey Moore, Executive Vice President and Deputy Chief Financial Officer

Mr. Moore is the Executive Vice President and Deputy Chief Financial Officer for Investar Holding Corporation. He is also listed as Chief Accounting Officer.

Key Risks to Investar (ISTR)

Investar Holding Corporation, as a bank operating primarily in South Louisiana and specializing in commercial banking products including commercial real estate, commercial and industrial, and construction loans, faces significant key risks:

1. Credit Risk and Regional Economic Downturn: A primary risk for Investar stems from its substantial exposure to commercial real estate, commercial and industrial, and construction loans within the South Louisiana market. An economic downturn specific to this region, or adverse developments in key regional industries (e.g., oil and gas, tourism), could lead to increased loan defaults, higher loan loss provisions, and a decline in asset quality. This geographic and loan portfolio concentration amplifies the impact of any localized economic weakness on the company's financial performance.
2. Interest Rate Risk: Like all financial institutions, Investar is susceptible to fluctuations in interest rates. Changes in benchmark rates can impact the bank's net interest margin (the difference between interest earned on assets and interest paid on liabilities). A significant shift in interest rates, particularly a sustained period of low rates or a rapid increase that outpaces the bank's ability to adjust its loan and deposit pricing, could compress profitability and negatively affect earnings.

The clear emerging threats for Investar (ISTR) are:

• The increasing prevalence and sophistication of **digital-only banks and fintech companies**. These entities often operate with lower overhead due to the absence of physical branches, allowing them to offer more competitive rates, lower fees, and superior digital customer experiences. This trend threatens to erode Investar's deposit base and attract away customers seeking more convenient and cost-effective banking solutions for checking, savings, and even certain loan products (e.g., consumer loans, small business lines of credit).
• The rise of **specialized non-bank and fintech lenders**. These platforms often focus on specific loan categories (e.g., personal loans, small business loans, or even niche commercial real estate financing) and can leverage technology for faster application processing, more agile underwriting, and tailored product offerings. This can draw away profitable lending opportunities from traditional banks like Investar, which offers a broad range of loan products.

Investar Holding Corporation (NASDAQ: ISTR), operating as Investar Bank, offers a diverse range of commercial banking products and services primarily to individuals and small to medium-sized businesses. The company's main markets are located across South Louisiana, and its products include various deposit accounts, commercial and residential real estate loans, commercial and industrial loans, and consumer loans. While specific "South Louisiana" market sizes are not consistently available for all individual product categories, data for the broader Louisiana market provides a strong indication of the addressable markets.

Addressable Markets for Investar's Main Products and Services (Region: Louisiana)

• Deposit Products (Savings, Checking, Money Market, IRAs, CDs): The total deposits held by banks in Louisiana were approximately $131 billion in 2024. Community banks in Louisiana held approximately $76.21 billion in total deposits as of December 13, 2024.
• Commercial Real Estate Loans: The annual transaction volume for Louisiana's commercial real estate market was approximately $10 billion as of February 19, 2026. Another estimate for the total commercial real estate transaction volume in Louisiana during 2025 was $7.0 billion.
• Commercial and Industrial Loans: The broader Commercial Banking industry in Louisiana, which encompasses commercial and industrial loans, had a market size of $10.2 billion in 2026. Separately, small business loans in Louisiana amounted to $10 billion in 2024.
• Residential Real Estate Lending (including construction, one-to-four family, and second mortgage loans): New home loans booked in Louisiana totaled $7.2 billion in 2024, with 27,290 new home loans. The Louisiana real estate market saw 33,180 home sales in 2022, with an average home price of $200,947, and the average mortgage was $234,325. The median home value in Louisiana was $249,000 in October 2025.
• Consumer Loans (e.g., auto loans, home equity loans): The Commercial Banking industry in Louisiana, which includes consumer loans, had a market size of $10.2 billion in 2026.

1. Strategic Acquisitions and Geographic Expansion: Investar has demonstrated a clear strategy of expanding its market presence through acquisitions. The recent acquisition of Wichita Falls Bancshares, Inc., and its subsidiary First National Bank, significantly expands Investar's footprint into Texas. This strategic move is expected to drive revenue growth by adding new customers and increasing market share in the North Texas region.
2. Continued Loan Portfolio Growth and Optimization: The company's focus on originating high-quality loans and optimizing its balance sheet composition, including increasing its percentage of floating-rate loans, is a key driver. This strategy aims to generate consistent, quality earnings by growing the overall loan portfolio while prudently managing risk and improving loan yields, which directly contributes to net interest income.
3. Enhancements in Digital Banking and Customer Accessibility: Investar's ongoing investment in technological innovation, particularly in online and mobile banking solutions, is crucial for attracting and retaining customers. By providing greater convenience and accessibility, these digital advancements are expected to foster customer growth and increase engagement, leading to higher transaction volumes and potential for new service-related revenue streams.
4. Net Interest Margin (NIM) Management and Improvement: Despite fluctuations due to interest rate environments, Investar is actively managing its balance sheet to optimize funding costs and asset yields. Efforts to reduce funding costs and benefit from a potentially stable or decreasing interest rate environment are expected to lead to an improved net interest margin, thereby increasing net interest income and overall revenue.

Share Repurchases

• In the fourth quarter of 2025, Investar repurchased 28,470 shares of its common stock at an average price of $23.94 per share, with 381,396 shares remaining authorized for future repurchases under the program.
• For the full year 2025, Investar repurchased a total of 114,249 shares of common stock at an average price of $19.84 per share.
• In 2024, the company repurchased 18,621 shares of common stock at an average price of $16.13 per share.

Share Issuance

• In July 2025, Investar completed a private placement offering of 32,500 shares of its newly designated 6.5% Series A Non-Cumulative Perpetual Convertible Preferred Stock at $1,000 per share, generating approximately $32.5 million in gross proceeds and about $30.4 million in net proceeds.
• As part of the acquisition of Wichita Falls Bancshares, Inc., Investar issued 3,955,344 shares of its common stock to Wichita Falls shareholders. Based on Investar's closing stock price of $19.32 on June 30, 2025, the stock consideration was valued at approximately $76.5 million.

Inbound Investments

• In July 2025, Investar received approximately $32.5 million in gross proceeds from a private placement of 32,500 shares of Series A Preferred Stock to certain institutional and other accredited investors. These net proceeds, estimated at $30.4 million, were intended to support the acquisition of Wichita Falls Bancshares, Inc. and for general corporate purposes.

Outbound Investments

• Investar Holding Corporation completed the acquisition of Wichita Falls Bancshares, Inc., which includes its wholly-owned subsidiary First National Bank, on January 2, 2026. The definitive agreement for this transaction was announced on July 1, 2025, and the total transaction was valued at approximately $83.6 million, consisting of both cash and stock consideration.
• In 2024, the company completed the purchase of commercial and industrial revolving lines of credit totaling $162.7 million.