Investar Holding Corporation Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Tax Rate Guidance for the Year 2018
For the six months, the company reported total interest income of $35,187,000 as compared to $22,937,000 for the same period last year. Income before income tax expense was $8,529,000 as compared to $5,511,000 for the same period last year. Net income was $6,222,000 as compared to $3,787,000 for the same period last year. Diluted earnings per share was $0.64 as compared to $0.47 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.