ISTR - Investar Non-GAAP EPS of $0.51 misses by $0.06 revenue of $21.25M misses by $2.47M

2023-04-21 02:27:24 ET

• Investar press release ( NASDAQ: ISTR ): Q1 Non-GAAP EPS of $0.51 misses by $0.06 .
• Revenue of $21.25M (-23.3% Y/Y) misses by $2.47M .
• Total deposits increased $63.3 million, or 3.0%, to $2.15 billion at March 31, 2023, compared to $2.08 billion at December 31, 2022.
• Book value per common share increased to $22.06 at March 31, 2023, or 1.2% (4.8% annualized), compared to $21.79 at December 31, 2022.
• Total loans were $2.11 billion at March 31, 2023, an increase of $4.3 million, or 0.2%, compared to December 31, 2022, and an increase of $231.6 million, or 12.3%, compared to March 31, 2022.
• The allowance for credit losses was $30.5 million, or 535.6% and 1.45% of nonperforming and total loans, respectively, at March 31, 2023, compared to $24.4 million, or 214.9% and 1.16% of nonperforming and total loans, respectively, at December 31, 2022, and $21.1 million, or 82.1% and 1.12% of nonperforming and total loans, respectively, at March 31, 2022.

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