Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 for Investar Holding Corporation (NASDAQ:ISTR), a bank holding company headquartered in Baton Rouge, Louisiana. In addition, KBRA has assigned senior unsecured debt and deposit ratings of BBB+, a subordinated debt rating of BBB, and short-term debt and deposit ratings of K2 for the subsidiary bank, Investar Bank. The Outlook on all long-term ratings is Stable.

The ratings are supported by Investar Holding Corporation’s solid capital position, strong credit culture and conservative risk appetite, and comprehensive risk management complemented by bench depth across the various areas of risk management. The ratings are constrained by the narrow diversity in revenue streams with significant concentration in spread-derived revenues, comparatively weaker deposit franchise, and below peer earnings metrics, though these are partially offset by a deposit rich acquisitive strategy which is expected to help diversify the deposit base and lower funding costs.

The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on February 19, 2016.

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Analytical:Kroll Bond Rating AgencyM Scott Durant, 301-969-3248Associate Directorsdurant@kbra.comorJoseph Scott, 646-731-2438Managing Directorjscott@kbra.comorChristopher Whalen, 646-731-2366Senior Managing Directorcwhalen@kbra.comorFollow us on Twitter!@KrollBondRating

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