Investar Holding Corporation Announces 2026 Third Quarter Results
On a non-GAAP basis, core earnings per diluted common share for the third quarter of 2026 were
"I am extremely pleased with our third quarter results, which reflect both the significant impact of our transformational acquisition of
Our net interest margin improved substantially to 3.73%, a six basis point increase from previous quarter, and we posted strong results for our core metrics including diluted earnings per common share, return on average assets and efficiency ratio. We were able to grow the yield on interest-earning assets while maintaining low funding costs by replacing a portion of our higher cost brokered time deposits and time deposits with lower cost, non-maturing deposits.
We continued our strategy of allowing the consumer mortgage loans acquired from WFB to run off and replaced them with production in our business lending portfolio, primarily through the origination of higher yielding commercial and industrial loans. We remain enthusiastic about our positioning for future growth both organically and through potential acquisitions.
Additionally, on
As always, we remain focused on shareholder value and returning capital to shareholders. We repurchased 25,113 shares of our common stock during the third quarter at an average price of
Third Quarter Highlights
- Diluted earnings per common share were
$0.74 for the quarter endedSeptember 30, 2026 compared to$0.61 for the quarter endedJune 30, 2026 . Core diluted earnings per common share were$0.77 for the quarter endedSeptember 30, 2026 compared to$0.75 for the quarter endedJune 30, 2026 .
- Net interest margin improved six basis points to 3.73% for the quarter ended
September 30, 2026 compared to 3.67% for the quarter endedJune 30, 2026 . Exclusive of the interest income accretion from the acquisition of loans and interest recoveries, adjusted net interest margin improved one basis point to 3.40% for the quarter endedSeptember 30, 2026 compared to 3.39% for the quarter endedJune 30, 2026 .
- Return on average assets was 1.21% for the quarter ended
September 30, 2026 compared to 0.98% for the quarter endedJune 30, 2026 . Core return on average assets was 1.25% for the quarter endedSeptember 30, 2026 compared to 1.21% for the quarter endedJune 30, 2026 .
- Total Fina Elf loans increased by
$6.9 million , or 0.2%, to$3.07 billion atSeptember 30, 2026 compared to$3.06 billion atJune 30, 2026 . Excluding loans acquired from WFB, Total Fina Elf loans increased by$50.4 million , or 2.3%, to$2.26 billion atSeptember 30, 2026 compared to$2.21 billion atJune 30, 2026 .
- The business lending portfolio, which consists of loans secured by owner-occupied commercial real estate properties and commercial and industrial loans, increased by
$37.9 million , or 3.1%, to$1.25 billion atSeptember 30, 2026 compared to$1.21 billion atJune 30, 2026 .
- During the third quarter of 2026, we originated and renewed loans, 59% of which were variable-rate loans, at a 7.0% blended interest rate.
- Variable-rate loans as a percentage of Total Fina Elf loans was 51% at
September 30, 2026 compared to 50% atJune 30, 2026 . Included in variable-rate loans are adjustable-rate mortgage loans we acquired in connection with our acquisition of WFB, which generally have fixed interest rates for an initial period depending on the loan term.
- On
October 1, 2026 ,Investar completed the purchase of commercial and industrial revolving lines of credit with an unpaid principal balance of approximately$65.0 million and Total Fina Elf commitments of$81.9 million . The revolving lines of credit are variable-rate with varying renewal terms.
- During 2026,
Investar hired thirteen commercial bankers, seven in ourTexas markets and six in ourLouisiana markets, to grow our commercial banking relationships, including loans, deposits and treasury management services.
-
Investar's regulatory tier 1 leverage capital ratio increased to 10.92%, or 3.4%, atSeptember 30, 2026 compared to 10.56% atJune 30, 2026 .
-
Investar repurchased 25,113 shares of its common stock through its stock repurchase program during the quarter endedSeptember 30, 2026 , leaving 275,628 shares authorized for repurchase under the program atSeptember 30, 2026 .
Loans
Total Fina Elf loans were
The following table sets forth the composition of the Total Fina Elf loan portfolio as of the dates indicated (dollars in thousands).
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Year/Year Change |
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Percentage of Total Fina Elf |
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$ |
|
% |
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$ |
|
% |
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|
Mortgage loans on real |
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|
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|
Construction and |
|
$ |
228,516 |
|
|
$ |
261,799 |
|
|
$ |
140,561 |
|
|
$ |
(33,283) |
|
|
|
(12.7) |
% |
|
$ |
87,955 |
|
|
|
62.6 |
% |
|
|
7.5 |
% |
|
|
6.5 |
% |
|
1-4 Family |
|
|
924,357 |
|
|
|
907,385 |
|
|
|
382,445 |
|
|
|
16,972 |
|
|
|
1.9 |
|
|
|
541,912 |
|
|
|
141.7 |
|
|
|
30.1 |
|
|
|
17.8 |
|
|
Multifamily |
|
|
143,421 |
|
|
|
144,234 |
|
|
|
130,232 |
|
|
|
(813) |
|
|
|
(0.6) |
|
|
|
13,189 |
|
|
|
10.1 |
|
|
|
4.7 |
|
|
|
6.1 |
|
|
Farmland |
|
|
11,956 |
|
|
|
9,850 |
|
|
|
3,996 |
|
|
|
2,106 |
|
|
|
21.4 |
|
|
|
7,960 |
|
|
|
199.2 |
|
|
|
0.4 |
|
|
|
0.2 |
|
|
Commercial real estate |
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|
Owner-occupied |
|
|
515,704 |
|
|
|
508,245 |
|
|
|
462,830 |
|
|
|
7,459 |
|
|
|
1.5 |
|
|
|
52,874 |
|
|
|
11.4 |
|
|
|
16.8 |
|
|
|
21.5 |
|
|
Nonowner-occupied |
|
|
497,121 |
|
|
|
512,483 |
|
|
|
459,711 |
|
|
|
(15,362) |
|
|
|
(3.0) |
|
|
|
37,410 |
|
|
|
8.1 |
|
|
|
16.2 |
|
|
|
21.4 |
|
|
Commercial and industrial |
|
|
733,741 |
|
|
|
703,279 |
|
|
|
560,763 |
|
|
|
30,462 |
|
|
|
4.3 |
|
|
|
172,978 |
|
|
|
30.8 |
|
|
|
23.9 |
|
|
|
26.1 |
|
|
Consumer |
|
|
11,992 |
|
|
|
12,612 |
|
|
|
9,985 |
|
|
|
(620) |
|
|
|
(4.9) |
|
|
|
2,007 |
|
|
|
20.1 |
|
|
|
0.4 |
|
|
|
0.4 |
|
|
Total Fina Elf loans |
|
$ |
3,066,808 |
|
|
$ |
3,059,887 |
|
|
$ |
2,150,523 |
|
|
$ |
6,921 |
|
|
|
0.2 |
% |
|
$ |
916,285 |
|
|
|
42.6 |
% |
|
|
100 |
% |
|
|
100 |
% |
Construction and development loans totaled
1-4 Family loans totaled
At
Nonowner-occupied loans totaled
Credit Quality
Nonperforming loans were
The allowance for credit losses was
Deposits
Total Fina Elf deposits at
The following table sets forth the composition of deposits as of the dates indicated (dollars in thousands).
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Year/Year Change |
|
Percentage of Total Fina Elf |
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$ |
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% |
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$ |
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% |
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Noninterest-bearing |
|
$ |
639,188 |
|
|
$ |
621,870 |
|
|
$ |
446,361 |
|
|
$ |
17,318 |
|
|
|
2.8 |
% |
|
$ |
192,827 |
|
|
|
43.2 |
% |
|
|
20.1 |
% |
|
|
18.8 |
% |
|
Interest-bearing demand |
|
|
987,710 |
|
|
|
989,520 |
|
|
|
633,766 |
|
|
|
(1,810) |
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|
|
(0.2) |
|
|
|
353,944 |
|
|
|
55.8 |
|
|
|
31.1 |
|
|
|
26.7 |
|
|
Money market deposits |
|
|
346,569 |
|
|
|
362,317 |
|
|
|
237,339 |
|
|
|
(15,748) |
|
|
|
(4.3) |
|
|
|
109,230 |
|
|
|
46.0 |
|
|
|
10.9 |
|
|
|
10.0 |
|
|
Brokered demand deposits |
|
|
257 |
|
|
|
— |
|
|
|
— |
|
|
|
257 |
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|
|
— |
|
|
|
257 |
|
|
|
— |
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|
|
— |
|
|
|
— |
|
|
Savings deposits |
|
|
159,995 |
|
|
|
165,192 |
|
|
|
137,514 |
|
|
|
(5,197) |
|
|
|
(3.1) |
|
|
|
22,481 |
|
|
|
16.3 |
|
|
|
5.0 |
|
|
|
5.8 |
|
|
Brokered time deposits |
|
|
63,981 |
|
|
|
62,900 |
|
|
|
210,822 |
|
|
|
1,081 |
|
|
|
1.7 |
|
|
|
(146,841) |
|
|
|
(69.7) |
|
|
|
2.0 |
|
|
|
8.9 |
|
|
Time deposits |
|
|
983,071 |
|
|
|
1,012,087 |
|
|
|
706,876 |
|
|
|
(29,016) |
|
|
|
(2.9) |
|
|
|
276,195 |
|
|
|
39.1 |
|
|
|
30.9 |
|
|
|
29.8 |
|
|
Total Fina Elf deposits |
|
$ |
3,180,771 |
|
|
$ |
3,213,886 |
|
|
$ |
2,372,678 |
|
|
$ |
(33,115) |
|
|
|
(1.0) |
% |
|
$ |
808,093 |
|
|
|
34.1 |
% |
|
|
100 |
% |
|
|
100 |
% |
The increase in noninterest-bearing demand deposits at
We experienced growth in each deposit category, excluding brokered time deposits, compared to
Stockholders' Equity
Stockholders' equity was
Net Interest Income
Net interest income for the third quarter of 2026 totaled
The yield on interest-earning assets was 5.88% for the quarter ended
Exclusive of the interest income accretion from the acquisition of loans and interest recoveries, adjusted net interest margin was 3.40% for the quarter ended
The overall cost of deposits, which includes noninterest-bearing deposits, increased one basis point to 2.20% for the quarter ended
The cost of short-term borrowings increased 17 basis points to 2.98% for the quarter ended
The overall cost of funds, which includes the noninterest-bearing deposits, for the quarter ended
Noninterest Income
Noninterest income for the third quarter of 2026 totaled
The decrease in noninterest income compared to the quarter ended
The increase in noninterest income compared to the quarter ended
Noninterest Expense
Noninterest expense for the third quarter of 2026 totaled
The decrease in noninterest expense for the quarter ended
The increase in noninterest expense for the quarter ended
Taxes
Basic and Diluted Earnings Per Common Share
About Investar Holding Corporation
Investar, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association. The Bank currently operates 36 branch locations serving Louisiana, Texas, and Alabama. At September 30, 2026, the Bank had 415 full-time equivalent employees and Total Fina Elf assets of $3.9 billion.
Non-GAAP Financial Measures
This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles in the United States of America, or GAAP. These measures and ratios include "tangible common equity," "tangible assets," "tangible common equity to tangible assets," "tangible book value per common share," "core noninterest income," "core earnings before noninterest expense," "core noninterest expense," "core earnings before income tax expense," "core income tax expense," "core earnings," "core earnings available to common shareholders," "core efficiency ratio," "core return on average assets," "core return on average common equity," "core basic earnings per common share" and "core diluted earnings per common share." We also present certain average loan, yield, net interest income and net interest margin data adjusted to show the effects of excluding interest recoveries and interest income accretion from the acquisition of loans. Management believes these non-GAAP financial measures provide information useful to investors in understanding Investar's financial results, and Investar believes that its presentation, together with the accompanying reconciliations, provides a more complete understanding of factors and trends affecting Investar's business and allows investors to view performance in a manner similar to management, the entire financial services sector, bank stock analysts and bank regulators. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results, and Investar strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. A reconciliation of the non-GAAP financial measures disclosed in this press release to the comparable GAAP financial measures is included at the end of the financial statement tables.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect Investar's current views with respect to, among other things, future events and financial performance, including the potential impacts of its strategies and the WFB transaction. Investar generally identifies forward-looking statements by terminology such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "could," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of those words or other comparable words.
Any forward-looking statements contained in this press release are based on the historical performance of Investar and its subsidiaries or on Investar's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by Investar that the future plans, estimates or expectations by Investar will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to Investar's operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if Investar's underlying assumptions prove to be incorrect, Investar's actual results may vary materially from those indicated in these statements. Investar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. These factors include, but are not limited to, the following, any one or more of which could materially affect the outcome of future events:
- the significant risks and uncertainties for our business, results of operations and financial condition, as well as our regulatory capital and liquidity ratios and other regulatory requirements caused by business and economic conditions generally and in the financial services industry in particular, whether nationally, regionally or in the markets in which we operate, including heightened uncertainties resulting from recent changing trade and tariff policies that could have an adverse impact on inflation and economic growth at least in the near term;
- changes in inflation, interest rates, yield curves and interest rate spread relationships that affect our loan and deposit pricing;
- our ability to successfully execute our strategy focused on consistent, quality earnings through the optimization of our balance sheet, and our ability to successfully execute a long-term growth strategy;
- our ability to achieve organic loan and deposit growth, and the composition of that growth;
- our ability to identify and enter into agreements to combine with attractive acquisition candidates, finance acquisitions, complete acquisitions after definitive agreements are entered into, and successfully integrate and grow acquired operations;
- our potential growth, including our entrance or expansion into new markets, and the need for sufficient capital to support that growth;
- a reduction in liquidity, including as a result of a reduction in the amount of deposits we hold or other sources of liquidity;
- inaccuracy of the assumptions and estimates we make in establishing reserves for credit losses and other estimates;
- changes in the quality or composition of our loan portfolio, including adverse developments in borrower industries or in the repayment ability of individual borrowers;
- changes in the quality and composition of, and changes in unrealized losses in, our investment portfolio, including whether we may have to sell securities before their recovery of amortized cost basis and realize losses;
- the extent of continuing client demand for the high level of personalized service that is a key element of our banking approach as well as our ability to execute our strategy generally;
- our dependence on our management Team , and our ability to attract and retain qualified personnel;
- the concentration of our business within our geographic areas of operation in Louisiana, Texas and Alabama;
- risks to holders of our common stock relating to our Series A Preferred Stock, including, but not limited to, dividend preferences to holders of the preferred stock, other conditions with respect to the payment of dividends on our common stock, potential dilution upon conversion of the preferred stock, and liquidation preferences to holders of the preferred stock;
- increasing costs of complying with new and potential future regulations;
- new or increasing geopolitical tensions, including resulting from conflicts and wars in the Middle East, Ukraine and Israel and surrounding areas or new areas;
- the emergence or worsening of widespread public health challenges or pandemics;
- concentration of credit exposure;
- any deterioration in asset quality and higher loan charge-offs, and the time and effort necessary to resolve problem assets;
- fluctuations in the price of oil and natural gas;
- data processing system failures and errors;
- risks associated with our digital transformation process, including increased risks of cyberattacks and other security breaches and challenges associated with addressing the increased prevalence of artificial intelligence;
- risks of losses resulting from increased fraud attacks against us, our customers, and others in the financial services industry;
- potential impairment of our goodwill and other intangible assets;
- the impact of litigation and other legal proceedings to which we become subject;
- competitive pressures in the commercial finance, retail banking, mortgage lending and consumer finance industries, as well as the financial resources of, and products offered by, competitors;
- the impact of changes in laws and regulations applicable to us, including banking, securities and tax laws and regulations and accounting standards, as well as changes in the interpretation of such laws and regulations by our regulators;
- changes in the scope and costs of FDIC insurance and other coverages;
- governmental monetary and fiscal policies; and
- hurricanes, tropical storms, tropical depressions, floods, winter storms, droughts and other adverse weather events, all of which have affected Investar's market areas from time to time; other natural disasters; oil spills and other MAN AG -made disasters; acts of terrorism; other international or domestic calamities; acts of God; and other matters beyond our control.
These factors should not be construed as exhaustive. Additional information on these and other risk factors can be found in Part I Item 1A. "Risk Factors" and in the "Cautionary Note Regarding Forward-Looking Statements" in Investar's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission.
For further information contact:
Investar Holding Corporation
Corey Moore
Executive Vice President and Deputy Chief Financial Officer
(225) 227-2348
Corey.Moore@investarbank.com
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As of and for the three months ended |
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Year/Year |
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EARNINGS DATA |
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|
|
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|
|
|
|
|
|
|
|
|
|
Total Fina Elf interest income |
|
$ |
53,322 |
|
|
$ |
53,199 |
|
|
$ |
37,095 |
|
|
|
0.2 |
% |
|
|
43.7 |
% |
|
Total Fina Elf interest expense |
|
|
19,557 |
|
|
|
19,750 |
|
|
|
15,942 |
|
|
|
(1.0) |
|
|
|
22.7 |
|
|
Net interest income |
|
|
33,765 |
|
|
|
33,449 |
|
|
|
21,153 |
|
|
|
0.9 |
|
|
|
59.6 |
|
|
(Reversal of) provision for credit losses |
|
|
(136) |
|
|
|
275 |
|
|
|
139 |
|
|
|
(149.5) |
|
|
|
(197.8) |
|
|
Total Fina Elf noninterest income |
|
|
3,046 |
|
|
|
3,098 |
|
|
|
2,984 |
|
|
|
(1.7) |
|
|
|
2.1 |
|
|
Total Fina Elf noninterest expense |
|
|
22,737 |
|
|
|
24,664 |
|
|
|
16,526 |
|
|
|
(7.8) |
|
|
|
37.6 |
|
|
Income before income tax expense |
|
|
14,210 |
|
|
|
11,608 |
|
|
|
7,472 |
|
|
|
22.4 |
|
|
|
90.2 |
|
|
Income tax expense |
|
|
2,555 |
|
|
|
2,136 |
|
|
|
1,293 |
|
|
|
19.6 |
|
|
|
97.6 |
|
|
Net income |
|
|
11,655 |
|
|
|
9,472 |
|
|
|
6,179 |
|
|
|
23.0 |
|
|
|
88.6 |
|
|
Preferred stock dividends declared |
|
|
528 |
|
|
|
528 |
|
|
|
528 |
|
|
|
— |
|
|
|
— |
|
|
Net income available to common shareholders |
|
$ |
11,127 |
|
|
$ |
8,944 |
|
|
$ |
5,651 |
|
|
|
24.4 |
|
|
|
96.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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AVERAGE BALANCE SHEET DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf assets |
|
$ |
3,814,172 |
|
|
$ |
3,879,711 |
|
|
$ |
2,797,338 |
|
|
|
(1.7) |
% |
|
|
36.4 |
% |
|
Total Fina Elf interest-earning assets |
|
|
3,594,769 |
|
|
|
3,656,956 |
|
|
|
2,659,306 |
|
|
|
(1.7) |
|
|
|
35.2 |
|
|
Total Fina Elf loans |
|
|
3,038,414 |
|
|
|
3,049,671 |
|
|
|
2,141,280 |
|
|
|
(0.4) |
|
|
|
41.9 |
|
|
Total Fina Elf interest-bearing deposits |
|
|
2,553,344 |
|
|
|
2,578,750 |
|
|
|
1,919,377 |
|
|
|
(1.0) |
|
|
|
33.0 |
|
|
Total Fina Elf interest-bearing liabilities |
|
|
2,738,519 |
|
|
|
2,804,480 |
|
|
|
2,033,350 |
|
|
|
(2.4) |
|
|
|
34.7 |
|
|
Total Fina Elf deposits |
|
|
3,177,283 |
|
|
|
3,206,333 |
|
|
|
2,370,406 |
|
|
|
(0.9) |
|
|
|
34.0 |
|
|
Total Fina Elf common stockholders' equity |
|
|
395,454 |
|
|
|
390,181 |
|
|
|
260,799 |
|
|
|
1.4 |
|
|
|
51.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER COMMON SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share |
|
$ |
0.81 |
|
|
$ |
0.64 |
|
|
$ |
0.57 |
|
|
|
26.6 |
% |
|
|
42.1 |
% |
|
Diluted earnings per common share |
|
|
0.74 |
|
|
|
0.61 |
|
|
|
0.54 |
|
|
|
21.3 |
|
|
|
37.0 |
|
|
Core earnings:(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core basic earnings per common share(1) |
|
|
0.84 |
|
|
|
0.81 |
|
|
|
0.58 |
|
|
|
3.7 |
|
|
|
44.8 |
|
|
Core diluted earnings per common share(1) |
|
|
0.77 |
|
|
|
0.75 |
|
|
|
0.54 |
|
|
|
2.7 |
|
|
|
42.6 |
|
|
Book value per common share |
|
|
27.89 |
|
|
|
28.29 |
|
|
|
26.96 |
|
|
|
(1.4) |
|
|
|
3.4 |
|
|
Tangible book value per common share(1) |
|
|
22.55 |
|
|
|
23.09 |
|
|
|
22.76 |
|
|
|
(2.3) |
|
|
|
(0.9) |
|
|
Common shares outstanding |
|
|
13,753,007 |
|
|
|
13,777,385 |
|
|
|
9,825,883 |
|
|
|
(0.2) |
|
|
|
40.0 |
|
|
Weighted average common shares outstanding - |
|
|
13,770,693 |
|
|
|
13,788,871 |
|
|
|
9,830,387 |
|
|
|
(0.1) |
|
|
|
40.1 |
|
|
Weighted average common shares outstanding - |
|
|
15,722,487 |
|
|
|
15,540,312 |
|
|
|
11,527,876 |
|
|
|
1.2 |
|
|
|
36.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets |
|
|
1.21 |
% |
|
|
0.98 |
% |
|
|
0.88 |
% |
|
|
23.5 |
% |
|
|
37.5 |
% |
|
Core return on average assets(1) |
|
|
1.25 |
|
|
|
1.21 |
|
|
|
0.89 |
|
|
|
3.3 |
|
|
|
40.4 |
|
|
Return on average common equity |
|
|
11.16 |
|
|
|
9.19 |
|
|
|
8.60 |
|
|
|
21.4 |
|
|
|
29.8 |
|
|
Core return on average common equity(1) |
|
|
11.56 |
|
|
|
11.44 |
|
|
|
8.73 |
|
|
|
1.0 |
|
|
|
32.4 |
|
|
Net interest margin |
|
|
3.73 |
|
|
|
3.67 |
|
|
|
3.16 |
|
|
|
1.6 |
|
|
|
18.0 |
|
|
Net interest income to average assets |
|
|
3.51 |
|
|
|
3.46 |
|
|
|
3.00 |
|
|
|
1.4 |
|
|
|
17.0 |
|
|
Noninterest expense to average assets |
|
|
2.37 |
|
|
|
2.55 |
|
|
|
2.34 |
|
|
|
(7.1) |
|
|
|
1.3 |
|
|
Efficiency ratio(2) |
|
|
61.77 |
|
|
|
67.49 |
|
|
|
68.47 |
|
|
|
(8.5) |
|
|
|
(9.8) |
|
|
Core efficiency ratio(1) |
|
|
60.64 |
|
|
|
60.07 |
|
|
|
67.66 |
|
|
|
1.0 |
|
|
|
(10.4) |
|
|
Dividend payout ratio |
|
|
14.81 |
|
|
|
18.75 |
|
|
|
19.30 |
|
|
|
(21.0) |
|
|
|
(23.3) |
|
|
Net charge-offs (recoveries) to average loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
(1) Non-GAAP financial measure. See reconciliation. |
|
(2) Efficiency ratio represents noninterest expense divided by the sum of net interest income (before provision for credit losses) and noninterest |
|
|
||||||||||||||||||||
|
|
||||||||||||||||||||
|
|
|
As of and for the three months ended |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Year/Year |
||||||||||
|
ASSET QUALITY RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets to Total Fina Elf assets |
|
|
0.66 |
% |
|
|
0.62 |
% |
|
|
0.44 |
% |
|
|
6.5 |
% |
|
|
50.0 |
% |
|
Nonperforming loans to Total Fina Elf loans |
|
|
0.70 |
|
|
|
0.63 |
|
|
|
0.36 |
|
|
|
11.1 |
|
|
|
94.4 |
|
|
Allowance for credit losses to Total Fina Elf loans |
|
|
1.18 |
|
|
|
1.18 |
|
|
|
1.23 |
|
|
|
— |
|
|
|
(4.1) |
|
|
Allowance for credit losses to nonperforming loans |
|
|
169.04 |
|
|
|
187.33 |
|
|
|
344.66 |
|
|
|
(9.8) |
|
|
|
(51.0) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf common equity to Total Fina Elf assets |
|
|
9.92 |
% |
|
|
10.09 |
% |
|
|
9.46 |
% |
|
|
(1.7) |
% |
|
|
4.9 |
% |
|
Tangible common equity to tangible assets(1) |
|
|
8.18 |
|
|
|
8.39 |
|
|
|
8.10 |
|
|
|
(2.6) |
|
|
|
0.9 |
|
|
Tier 1 leverage capital |
|
|
10.92 |
|
|
|
10.56 |
|
|
|
10.70 |
|
|
|
3.4 |
|
|
|
2.1 |
|
|
Common equity tier 1 capital(2) |
|
|
11.79 |
|
|
|
11.68 |
|
|
|
11.12 |
|
|
|
0.9 |
|
|
|
6.0 |
|
|
Tier 1 capital(2) |
|
|
13.36 |
|
|
|
13.27 |
|
|
|
12.82 |
|
|
|
0.7 |
|
|
|
4.2 |
|
|
Total Fina Elf capital(2) |
|
|
15.05 |
|
|
|
14.99 |
|
|
|
14.65 |
|
|
|
0.4 |
|
|
|
2.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 leverage capital |
|
|
11.08 |
|
|
|
10.75 |
|
|
|
10.88 |
|
|
|
3.1 |
|
|
|
1.8 |
|
|
Common equity tier 1 capital(2) |
|
|
13.56 |
|
|
|
13.51 |
|
|
|
13.05 |
|
|
|
0.4 |
|
|
|
3.9 |
|
|
Tier 1 capital(2) |
|
|
13.56 |
|
|
|
13.51 |
|
|
|
13.05 |
|
|
|
0.4 |
|
|
|
3.9 |
|
|
Total Fina Elf capital(2) |
|
|
14.71 |
|
|
|
14.68 |
|
|
|
14.17 |
|
|
|
0.2 |
|
|
|
3.8 |
|
|
|
|
(1) Non-GAAP financial measure. See reconciliation. |
|
(2) Estimated for |
|
|
|||||||||||
|
|
|||||||||||
|
|
|
|
|
|
|
|
|||||
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
31,763 |
|
|
$ |
31,758 |
|
|
$ |
32,564 |
|
Interest-bearing balances due from other banks |
|
|
25,364 |
|
|
|
40,545 |
|
|
|
2,809 |
|
Cash and cash equivalents |
|
|
57,127 |
|
|
|
72,303 |
|
|
|
35,373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale securities at fair value (amortized cost of |
|
|
412,643 |
|
|
|
411,326 |
|
|
|
370,251 |
|
Held to maturity securities at amortized cost (fair value of |
|
|
47,039 |
|
|
|
47,217 |
|
|
|
47,834 |
|
Loans |
|
|
3,066,808 |
|
|
|
3,059,887 |
|
|
|
2,150,523 |
|
Less: allowance for credit losses |
|
|
(36,110) |
|
|
|
(36,251) |
|
|
|
(26,470) |
|
Loans, net |
|
|
3,030,698 |
|
|
|
3,023,636 |
|
|
|
2,124,053 |
|
Equity securities at fair value |
|
|
4,359 |
|
|
|
4,111 |
|
|
|
3,270 |
|
Nonmarketable equity securities |
|
|
23,622 |
|
|
|
23,759 |
|
|
|
15,255 |
|
Bank premises and equipment, net of accumulated depreciation of $25,925, |
|
|
57,383 |
|
|
|
59,907 |
|
|
|
39,732 |
|
Other real estate owned, net |
|
|
4,034 |
|
|
|
4,747 |
|
|
|
4,633 |
|
Accrued interest receivable |
|
|
19,339 |
|
|
|
18,887 |
|
|
|
14,858 |
|
Deferred tax asset |
|
|
19,552 |
|
|
|
15,183 |
|
|
|
14,362 |
|
|
|
|
73,468 |
|
|
|
71,704 |
|
|
|
41,303 |
|
Bank owned life insurance |
|
|
91,989 |
|
|
|
84,299 |
|
|
|
68,612 |
|
Other assets |
|
|
25,566 |
|
|
|
24,594 |
|
|
|
21,092 |
|
Total Fina Elf assets |
|
$ |
3,866,819 |
|
|
$ |
3,861,673 |
|
|
$ |
2,800,628 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing |
|
$ |
639,188 |
|
|
$ |
621,870 |
|
|
$ |
446,361 |
|
Interest-bearing |
|
|
2,541,583 |
|
|
|
2,592,016 |
|
|
|
1,926,317 |
|
Total Fina Elf deposits |
|
|
3,180,771 |
|
|
|
3,213,886 |
|
|
|
2,372,678 |
|
Advances from |
|
|
184,500 |
|
|
|
136,000 |
|
|
|
60,000 |
|
Repurchase agreements |
|
|
10,444 |
|
|
|
18,575 |
|
|
|
15,066 |
|
Subordinated debt, net of unamortized issuance costs |
|
|
16,769 |
|
|
|
16,759 |
|
|
|
16,728 |
|
Junior subordinated debt |
|
|
22,968 |
|
|
|
22,994 |
|
|
|
8,806 |
|
Accrued taxes and other liabilities |
|
|
37,397 |
|
|
|
33,327 |
|
|
|
32,055 |
|
Total Fina Elf liabilities |
|
|
3,452,849 |
|
|
|
3,441,541 |
|
|
|
2,505,333 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, no par value per share; 5,000,000 shares authorized; 6.5% Series |
|
|
30,353 |
|
|
|
30,353 |
|
|
|
30,353 |
|
Common stock, $1.00 par value per share; 40,000,000 shares authorized; |
|
|
13,753 |
|
|
|
13,777 |
|
|
|
9,826 |
|
Surplus |
|
|
245,819 |
|
|
|
246,033 |
|
|
|
146,304 |
|
Retained earnings |
|
|
177,259 |
|
|
|
167,784 |
|
|
|
146,178 |
|
Accumulated other comprehensive loss |
|
|
(53,214) |
|
|
|
(37,815) |
|
|
|
(37,366) |
|
Total Fina Elf stockholders' equity |
|
|
413,970 |
|
|
|
420,132 |
|
|
|
295,295 |
|
Total Fina Elf liabilities and stockholders' equity |
|
$ |
3,866,819 |
|
|
$ |
3,861,673 |
|
|
$ |
2,800,628 |
|
|
|||||||||||
|
|
|
|
|||||||||
|
|
|
For the three months ended |
|||||||||
|
|
|
September 30, 2026 |
|
|
June 30, 2026 |
|
|
September 30, 2025 |
|||
|
INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans |
|
$ |
48,257 |
|
|
$ |
47,715 |
|
|
$ |
32,563 |
|
Interest on investment securities |
|
|
|
|
|
|
|
|
|
|
|
|
Taxable |
|
|
3,824 |
|
|
|
3,790 |
|
|
|
3,096 |
|
Tax-exempt |
|
|
740 |
|
|
|
743 |
|
|
|
689 |
|
Other interest income |
|
|
501 |
|
|
|
951 |
|
|
|
747 |
|
Total Fina Elf interest income |
|
|
53,322 |
|
|
|
53,199 |
|
|
|
37,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits |
|
|
17,598 |
|
|
|
17,496 |
|
|
|
14,726 |
|
Interest on borrowings |
|
|
1,959 |
|
|
|
2,254 |
|
|
|
1,216 |
|
Total Fina Elf interest expense |
|
|
19,557 |
|
|
|
19,750 |
|
|
|
15,942 |
|
Net interest income |
|
|
33,765 |
|
|
|
33,449 |
|
|
|
21,153 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Reversal of) provision for credit losses |
|
|
(136) |
|
|
|
275 |
|
|
|
139 |
|
Net interest income after (reversal of) provision for credit losses |
|
|
33,901 |
|
|
|
33,174 |
|
|
|
21,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts |
|
|
1,054 |
|
|
|
933 |
|
|
|
832 |
|
Gain on call or sale of investment securities, net |
|
|
— |
|
|
|
12 |
|
|
|
2 |
|
Loss on sale or disposition of fixed assets, net |
|
|
— |
|
|
|
— |
|
|
|
(5) |
|
(Loss) gain on sale of other real estate owned, net |
|
|
(122) |
|
|
|
4 |
|
|
|
94 |
|
Interchange fees |
|
|
598 |
|
|
|
524 |
|
|
|
394 |
|
Income from bank owned life insurance |
|
|
902 |
|
|
|
696 |
|
|
|
485 |
|
Change in the fair value of equity securities |
|
|
98 |
|
|
|
177 |
|
|
|
200 |
|
Other operating income |
|
|
516 |
|
|
|
752 |
|
|
|
982 |
|
Total Fina Elf noninterest income |
|
|
3,046 |
|
|
|
3,098 |
|
|
|
2,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
1,307 |
|
|
|
1,333 |
|
|
|
683 |
|
Salaries and employee benefits |
|
|
13,752 |
|
|
|
13,430 |
|
|
|
10,302 |
|
Occupancy |
|
|
923 |
|
|
|
955 |
|
|
|
679 |
|
Data processing |
|
|
1,030 |
|
|
|
1,223 |
|
|
|
831 |
|
Marketing |
|
|
132 |
|
|
|
130 |
|
|
|
101 |
|
Professional fees |
|
|
1,094 |
|
|
|
924 |
|
|
|
496 |
|
Acquisition expenses |
|
|
258 |
|
|
|
2,582 |
|
|
|
246 |
|
Other operating expenses |
|
|
4,241 |
|
|
|
4,087 |
|
|
|
3,188 |
|
Total Fina Elf noninterest expense |
|
|
22,737 |
|
|
|
24,664 |
|
|
|
16,526 |
|
Income before income tax expense |
|
|
14,210 |
|
|
|
11,608 |
|
|
|
7,472 |
|
Income tax expense |
|
|
2,555 |
|
|
|
2,136 |
|
|
|
1,293 |
|
Net income |
|
|
11,655 |
|
|
|
9,472 |
|
|
|
6,179 |
|
Preferred stock dividends declared |
|
|
528 |
|
|
|
528 |
|
|
|
528 |
|
Net income available to common shareholders |
|
$ |
11,127 |
|
|
$ |
8,944 |
|
|
$ |
5,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS PER COMMON SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share |
|
$ |
0.81 |
|
|
$ |
0.64 |
|
|
$ |
0.57 |
|
Diluted earnings per common share |
|
|
0.74 |
|
|
|
0.61 |
|
|
|
0.54 |
|
Cash dividends declared per common share |
|
|
0.12 |
|
|
|
0.12 |
|
|
|
0.11 |
|
|
||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
|
|
For the three months ended |
||||||||||||||||||||||||||||||||||
|
|
|
September 30, 2026 |
|
June 30, 2026 |
|
September 30, 2025 |
||||||||||||||||||||||||||||||
|
|
|
Average |
|
Interest |
|
Yield/ Rate |
|
Average |
|
Interest |
|
Yield/ Rate |
|
Average |
|
Interest |
|
Yield/ Rate |
||||||||||||||||||
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
|
$ |
3,038,414 |
|
|
$ |
48,257 |
|
|
|
6.30 |
% |
|
$ |
3,049,671 |
|
|
$ |
47,715 |
|
|
|
6.28 |
% |
|
$ |
2,141,280 |
|
|
$ |
32,563 |
|
|
|
6.03 |
% |
|
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable |
|
|
459,120 |
|
|
|
3,824 |
|
|
|
3.30 |
|
|
|
460,171 |
|
|
|
3,790 |
|
|
|
3.30 |
|
|
|
406,153 |
|
|
|
3,096 |
|
|
|
3.02 |
|
|
Tax-exempt |
|
|
55,937 |
|
|
|
740 |
|
|
|
5.25 |
|
|
|
56,218 |
|
|
|
743 |
|
|
|
5.30 |
|
|
|
51,442 |
|
|
|
689 |
|
|
|
5.31 |
|
|
Interest-bearing balances with banks |
|
|
41,298 |
|
|
|
501 |
|
|
|
4.81 |
|
|
|
90,896 |
|
|
|
951 |
|
|
|
4.20 |
|
|
|
60,431 |
|
|
|
747 |
|
|
|
4.90 |
|
|
Total Fina Elf interest-earning assets |
|
|
3,594,769 |
|
|
|
53,322 |
|
|
|
5.88 |
|
|
|
3,656,956 |
|
|
|
53,199 |
|
|
|
5.83 |
|
|
|
2,659,306 |
|
|
|
37,095 |
|
|
|
5.53 |
|
|
Cash and due from banks |
|
|
29,980 |
|
|
|
|
|
|
|
|
|
|
|
31,886 |
|
|
|
|
|
|
|
|
|
|
|
27,102 |
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
|
71,544 |
|
|
|
|
|
|
|
|
|
|
|
71,812 |
|
|
|
|
|
|
|
|
|
|
|
41,370 |
|
|
|
|
|
|
|
|
|
|
Other assets |
|
|
153,987 |
|
|
|
|
|
|
|
|
|
|
|
154,580 |
|
|
|
|
|
|
|
|
|
|
|
96,704 |
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses |
|
|
(36,108) |
|
|
|
|
|
|
|
|
|
|
|
(35,523) |
|
|
|
|
|
|
|
|
|
|
|
(27,144) |
|
|
|
|
|
|
|
|
|
|
Total Fina Elf assets |
|
$ |
3,814,172 |
|
|
|
|
|
|
|
|
|
|
$ |
3,879,711 |
|
|
|
|
|
|
|
|
|
|
$ |
2,797,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing demand deposits |
|
$ |
1,343,655 |
|
|
$ |
7,958 |
|
|
|
2.35 |
% |
|
$ |
1,320,779 |
|
|
$ |
7,707 |
|
|
|
2.34 |
% |
|
$ |
836,137 |
|
|
$ |
4,802 |
|
|
|
2.28 |
% |
|
Brokered demand deposits |
|
|
3,818 |
|
|
|
36 |
|
|
|
3.80 |
|
|
|
88 |
|
|
|
1 |
|
|
|
3.82 |
|
|
|
109 |
|
|
|
1 |
|
|
|
4.59 |
|
|
Savings deposits |
|
|
162,689 |
|
|
|
395 |
|
|
|
0.96 |
|
|
|
165,410 |
|
|
|
376 |
|
|
|
0.91 |
|
|
|
136,314 |
|
|
|
380 |
|
|
|
1.11 |
|
|
Brokered time deposits |
|
|
47,244 |
|
|
|
457 |
|
|
|
3.84 |
|
|
|
73,462 |
|
|
|
706 |
|
|
|
3.86 |
|
|
|
242,224 |
|
|
|
2,842 |
|
|
|
4.66 |
|
|
Time deposits |
|
|
995,938 |
|
|
|
8,752 |
|
|
|
3.49 |
|
|
|
1,019,011 |
|
|
|
8,706 |
|
|
|
3.43 |
|
|
|
704,593 |
|
|
|
6,701 |
|
|
|
3.77 |
|
|
Total Fina Elf interest-bearing |
|
|
2,553,344 |
|
|
|
17,598 |
|
|
|
2.73 |
|
|
|
2,578,750 |
|
|
|
17,496 |
|
|
|
2.72 |
|
|
|
1,919,377 |
|
|
|
14,726 |
|
|
|
3.04 |
|
|
Short-term borrowings |
|
|
45,419 |
|
|
|
341 |
|
|
|
2.98 |
|
|
|
72,103 |
|
|
|
504 |
|
|
|
2.81 |
|
|
|
28,452 |
|
|
|
210 |
|
|
|
2.93 |
|
|
Long-term debt |
|
|
139,756 |
|
|
|
1,618 |
|
|
|
4.59 |
|
|
|
153,627 |
|
|
|
1,750 |
|
|
|
4.57 |
|
|
|
85,521 |
|
|
|
1,006 |
|
|
|
4.66 |
|
|
Total Fina Elf interest-bearing |
|
|
2,738,519 |
|
|
|
19,557 |
|
|
|
2.83 |
|
|
|
2,804,480 |
|
|
|
19,750 |
|
|
|
2.82 |
|
|
|
2,033,350 |
|
|
|
15,942 |
|
|
|
3.11 |
|
|
Noninterest-bearing deposits |
|
|
623,939 |
|
|
|
|
|
|
|
|
|
|
|
627,583 |
|
|
|
|
|
|
|
|
|
|
|
451,029 |
|
|
|
|
|
|
|
|
|
|
Other liabilities |
|
|
25,907 |
|
|
|
|
|
|
|
|
|
|
|
27,114 |
|
|
|
|
|
|
|
|
|
|
|
21,786 |
|
|
|
|
|
|
|
|
|
|
Stockholders' equity |
|
|
425,807 |
|
|
|
|
|
|
|
|
|
|
|
420,534 |
|
|
|
|
|
|
|
|
|
|
|
291,173 |
|
|
|
|
|
|
|
|
|
|
Total Fina Elf liabilities and |
|
$ |
3,814,172 |
|
|
|
|
|
|
|
|
|
|
$ |
3,879,711 |
|
|
|
|
|
|
|
|
|
|
$ |
2,797,338 |
|
|
|
|
|
|
|
|
|
|
Net interest |
|
|
|
|
|
$ |
33,765 |
|
|
|
3.73 |
% |
|
|
|
|
|
$ |
33,449 |
|
|
|
3.67 |
% |
|
|
|
|
|
$ |
21,153 |
|
|
|
3.16 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall cost of |
|
|
|
|
|
|
|
|
|
|
2.20 |
% |
|
|
|
|
|
|
|
|
|
|
2.19 |
% |
|
|
|
|
|
|
|
|
|
|
2.46 |
% |
|
Overall cost of |
|
|
|
|
|
|
|
|
|
|
2.31 |
% |
|
|
|
|
|
|
|
|
|
|
2.31 |
% |
|
|
|
|
|
|
|
|
|
|
2.55 |
% |
|
|
|
|
(1) |
Calculated as Total Fina Elf interest on deposits divided by the sum of average interest-bearing deposits and average noninterest-bearing deposits and |
|
(2) |
Calculated as Total Fina Elf interest expense divided by the sum of average interest-bearing liabilities and average noninterest-bearing deposits and annualized |
|
|
||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
|
|
For the three months ended |
||||||||||||||||||||||||||||||||||
|
|
|
September 30, 2026 |
|
June 30, 2026 |
|
September 30, 2025 |
||||||||||||||||||||||||||||||
|
|
|
Average |
|
Interest |
|
Yield/ Rate |
|
Average |
|
Interest |
|
Yield/ Rate |
|
Average |
|
Interest |
|
Yield/ Rate |
||||||||||||||||||
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
|
$ |
3,038,414 |
|
|
$ |
48,257 |
|
|
|
6.30 |
% |
|
$ |
3,049,671 |
|
|
$ |
47,715 |
|
|
|
6.28 |
% |
|
$ |
2,141,280 |
|
|
$ |
32,563 |
|
|
|
6.03 |
% |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest recoveries |
|
|
|
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
21 |
|
|
|
|
|
|
|
|
|
|
|
64 |
|
|
|
|
|
|
Accretion |
|
|
|
|
|
|
2,965 |
|
|
|
|
|
|
|
|
|
|
|
2,543 |
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
|
|
|
|
Adjusted loans |
|
|
3,038,414 |
|
|
|
45,286 |
|
|
|
5.91 |
|
|
|
3,049,671 |
|
|
|
45,151 |
|
|
|
5.94 |
|
|
|
2,141,280 |
|
|
|
32,493 |
|
|
|
6.02 |
|
|
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable |
|
|
459,120 |
|
|
|
3,824 |
|
|
|
3.30 |
|
|
|
460,171 |
|
|
|
3,790 |
|
|
|
3.30 |
|
|
|
406,153 |
|
|
|
3,096 |
|
|
|
3.02 |
|
|
Tax-exempt |
|
|
55,937 |
|
|
|
740 |
|
|
|
5.25 |
|
|
|
56,218 |
|
|
|
743 |
|
|
|
5.30 |
|
|
|
51,442 |
|
|
|
689 |
|
|
|
5.31 |
|
|
Interest-bearing balances with |
|
|
41,298 |
|
|
|
501 |
|
|
|
4.81 |
|
|
|
90,896 |
|
|
|
951 |
|
|
|
4.20 |
|
|
|
60,431 |
|
|
|
747 |
|
|
|
4.90 |
|
|
Adjusted interest-earning assets |
|
|
3,594,769 |
|
|
|
50,351 |
|
|
|
5.56 |
|
|
|
3,656,956 |
|
|
|
50,635 |
|
|
|
5.55 |
|
|
|
2,659,306 |
|
|
|
37,025 |
|
|
|
5.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf interest-bearing liabilities |
|
|
2,738,519 |
|
|
|
19,557 |
|
|
|
2.83 |
|
|
|
2,804,480 |
|
|
|
19,750 |
|
|
|
2.82 |
|
|
|
2,033,350 |
|
|
|
15,942 |
|
|
|
3.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net interest |
|
|
|
|
|
$ |
30,794 |
|
|
|
3.40 |
% |
|
|
|
|
|
$ |
30,885 |
|
|
|
3.39 |
% |
|
|
|
|
|
$ |
21,083 |
|
|
|
3.15 |
% |
|
|
||||||||||||
|
|
||||||||||||
|
|
|
September 30, 2026 |
|
June 30, 2026 |
|
September 30, 2025 |
||||||
|
Tangible common equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf stockholders' equity |
|
$ |
413,970 |
|
|
$ |
420,132 |
|
|
$ |
295,295 |
|
|
Less: preferred stock |
|
|
30,353 |
|
|
|
30,353 |
|
|
|
30,353 |
|
|
Total Fina Elf common equity |
|
|
383,617 |
|
|
|
389,779 |
|
|
|
264,942 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60,634 |
|
|
|
58,267 |
|
|
|
40,088 |
|
|
Core deposit intangible |
|
|
12,734 |
|
|
|
13,337 |
|
|
|
1,115 |
|
|
Trademark intangible |
|
|
100 |
|
|
|
100 |
|
|
|
100 |
|
|
Tangible common equity |
|
$ |
310,149 |
|
|
$ |
318,075 |
|
|
$ |
223,639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf assets |
|
$ |
3,866,819 |
|
|
$ |
3,861,673 |
|
|
$ |
2,800,628 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60,634 |
|
|
|
58,267 |
|
|
|
40,088 |
|
|
Core deposit intangible |
|
|
12,734 |
|
|
|
13,337 |
|
|
|
1,115 |
|
|
Trademark intangible |
|
|
100 |
|
|
|
100 |
|
|
|
100 |
|
|
Tangible assets |
|
$ |
3,793,351 |
|
|
$ |
3,789,969 |
|
|
$ |
2,759,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares outstanding |
|
|
13,753,007 |
|
|
|
13,777,385 |
|
|
|
9,825,883 |
|
|
Tangible common equity to tangible assets |
|
|
8.18 |
% |
|
|
8.39 |
% |
|
|
8.10 |
% |
|
Book value per common share |
|
$ |
27.89 |
|
|
$ |
28.29 |
|
|
$ |
26.96 |
|
|
Tangible book value per common share |
|
|
22.55 |
|
|
|
23.09 |
|
|
|
22.76 |
|
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|
|
For the three months ended |
||||||||||
|
|
|
|
September 30, 2026 |
|
June 30, 2026 |
|
September 30, 2025 |
||||||
|
Net interest income |
(a) |
|
$ |
33,765 |
|
|
$ |
33,449 |
|
|
$ |
21,153 |
|
|
(Reversal of) provision for credit losses |
|
|
|
(136) |
|
|
|
275 |
|
|
|
139 |
|
|
Net interest income after (reversal of) provision for credit losses |
|
|
|
33,901 |
|
|
|
33,174 |
|
|
|
21,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf noninterest income |
(b) |
|
|
3,046 |
|
|
|
3,098 |
|
|
|
2,984 |
|
|
Gain on call or sale of investment securities, net |
|
|
|
— |
|
|
|
(12) |
|
|
|
(2) |
|
|
Loss on sale or disposition of fixed assets, net |
|
|
|
— |
|
|
|
— |
|
|
|
5 |
|
|
Loss (gain) on sale of other real estate owned, net |
|
|
|
122 |
|
|
|
(4) |
|
|
|
(94) |
|
|
Change in the fair value of equity securities |
|
|
|
(98) |
|
|
|
(177) |
|
|
|
(200) |
|
|
Change in the net asset value of other investments(1) |
|
|
|
144 |
|
|
|
109 |
|
|
|
11 |
|
|
Core noninterest income |
(d) |
|
|
3,214 |
|
|
|
3,014 |
|
|
|
2,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core earnings before noninterest expense |
|
|
|
37,115 |
|
|
|
36,188 |
|
|
|
23,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fina Elf noninterest expense |
(c) |
|
|
22,737 |
|
|
|
24,664 |
|
|
|
16,526 |
|
|
Write down of other real estate owned(2) |
|
|
|
(11) |
|
|
|
(75) |
|
|
|
(138) |
|
|
Severance(3) |
|
|
|
(43) |
|
|
|
(105) |
|
|
|
— |
|
|
Acquisition expense |
|
|
|
(258) |
|
|
|
(2,582) |
|
|
|
(246) |
|
|
Core noninterest expense |
(f) |
|
|
22,425 |
|
|
|
21,902 |
|
|
|
16,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core earnings before income tax expense |
|
|
|
14,690 |
|
|
|
14,286 |
|
|
|
7,576 |
|
|
Core income tax expense(4) |
|
|
|
2,644 |
|
|
|
2,629 |
|
|
|
1,311 |
|
|
Core earnings |
|
|
|
12,046 |
|
|
|
11,657 |
|
|
|
6,265 |
|
|
Preferred stock dividends declared |
|
|
|
528 |
|
|
|
528 |
|
|
|
528 |
|
|
Core earnings available to common shareholders |
|
|
$ |
11,518 |
|
|
$ |
11,129 |
|
|
$ |
5,737 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core basic earnings per common share |
|
|
$ |
0.84 |
|
|
$ |
0.81 |
|
|
$ |
0.58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per common share (GAAP) |
|
|
$ |
0.74 |
|
|
$ |
0.61 |
|
|
$ |
0.54 |
|
|
Gain on call or sale of investment securities, net |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Loss on sale or disposition of fixed assets, net |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Loss (gain) on sale of other real estate owned, net |
|
|
|
0.01 |
|
|
|
— |
|
|
|
(0.01) |
|
|
Change in the fair value of equity securities |
|
|
|
(0.01) |
|
|
|
(0.01) |
|
|
|
(0.02) |
|
|
Change in the net asset value of other investments(1) |
|
|
|
0.01 |
|
|
|
0.01 |
|
|
|
— |
|
|
Write down of other real estate owned(2) |
|
|
|
— |
|
|
|
— |
|
|
|
0.01 |
|
|
Severance(3) |
|
|
|
— |
|
|
|
0.01 |
|
|
|
— |
|
|
Acquisition expense |
|
|
|
0.02 |
|
|
|
0.13 |
|
|
|
0.02 |
|
|
Core diluted earnings per common share |
|
|
$ |
0.77 |
|
|
$ |
0.75 |
|
|
$ |
0.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Efficiency ratio |
(c) / (a+b) |
|
|
61.77 |
% |
|
|
67.49 |
% |
|
|
68.47 |
% |
|
Core efficiency ratio |
(f) / (a+d) |
|
|
60.64 |
|
|
|
60.07 |
|
|
|
67.66 |
|
|
Core return on average assets(5) |
|
|
|
1.25 |
|
|
|
1.21 |
|
|
|
0.89 |
|
|
Core return on average common equity(6) |
|
|
|
11.56 |
|
|
|
11.44 |
|
|
|
8.73 |
|
|
Total Fina Elf average assets |
|
|
$ |
3,814,172 |
|
|
$ |
3,879,711 |
|
|
$ |
2,797,338 |
|
|
Total Fina Elf average common stockholders' equity |
|
|
|
395,454 |
|
|
|
390,181 |
|
|
|
260,799 |
|
|
|
|
|
(1) |
Change in net asset value of other investments represents unrealized gains or losses on |
|
(2) |
Reflects an adjustment to noninterest expense for provision for estimated losses on other real estate owned when fair value is determined to be less |
|
(3) |
Severance is included in salaries and employee benefits in the accompanying consolidated statements of income. |
|
(4) |
Core income tax expense is calculated using the effective tax rates of 18.0%, 18.4% and 17.3% for the quarters ended September 30, 2026, June 30, |
|
(5) |
Core earnings used in calculation. No adjustments were made to Total Fina Elf average assets. |
|
(6) |
Core earnings available to common shareholders used in calculation. No adjustments were made to Total Fina Elf average common stockholders' equity. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/investar-holding-corporation-announces-2026-third-quarter-results-302917431.html
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