Investar Holding Corporation Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Provides Tax Rate Guidance for the Remainder of 2018
Investar Holding Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total interest income of $17,178,000 as compared to $11,093,000 for the same period last year. Income before noninterest expense was $14,305,000 as compared to $9,395,000 for the same period last year. Income before income tax expense was $3,743,000 as compared to $1864,000 for the same period last year. Net income was $2,402,000 as compared to $1,864,000 for the same period last year. Basic and diluted earnings per share was $0.25 as compared to $0.26 for the same period last year.
Management expects the company's effective tax rate to approximate 20% for the remainder of 2018, mainly as a result of the Tax Cuts and Jobs Act.