BATON ROUGE, La. (AP) _ Investar Holding Corp. (ISTR) on Wednesday reported first-quarter net income of $3.9 million.
The bank, based in Baton Rouge, Louisiana, said it had earnings of 40 cents per share. Earnings, adjusted for non-recurring costs, came to 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The holding company for Investar Bank posted revenue of $22 million in the period. Its revenue net of interest expense was $16.4 million, which met Street forecasts.
Investar shares have dropped 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.30, a fall of 18 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ISTR at https://www.zacks.com/ap/ISTR