Brief: Investar Holding Expects To Recognize Material Impairment Charge For Quarter Ended Sept 30, 2021

Investar Holding

14/10/2021 23:30

Oct 14 (Reuters) - Investar Holding Corp  ISTR.O :
    * INVESTAR HOLDING CORP - MANAGEMENT OF CO & ITS UNIT
DETERMINED
THAT CO EXPECTS TO RECOGNIZE MATERIAL IMPAIRMENT CHARGE FOR
QUARTER ENDED SEPT 30, 2021
    * INVESTAR HOLDING CORP -  WILL RECOGNIZE IMPAIRMENT CHARGE
OF
$21.6 MILLION AS PROVISION TO ITS ALLOWANCE FOR LOAN LOSSES FOR
QUARTER ENDED SEPT 30, 2021
    * INVESTAR HOLDING CORP - IS NOT AWARE OF ADDITIONAL
MATERIAL
IMPAIRMENTS RELATED TO HURRICANE IDA
    * INVESTAR HOLDING CORP - CANNOT GIVE ANY ASSURANCES THAT
ADDITIONAL IMPAIRMENT CHARGES WILL NOT RESULT FROM STORM'S
IMPACT TO OUR MARKET AREAS
    * INVESTAR HOLDING- AT THIS TIME, UNABLE TO QUANTIFY AMOUNT
OF
POTENTIAL RECOVERIES IN EXCESS OF WHAT IS REFLECTED IN CURRENT
IMPAIRMENT CHARGE ESTIMATE
    * INVESTAR HOLDING CORP -  AS RESULT OF HURRICANE IDA,
BORROWER’S
BUSINESS OPERATIONS WERE DISRUPTED

Source text for Eikon: [https://bit.ly/3DIxhXW]
Further company coverage:  ISTR.O 

 ((Reuters.Briefs@thomsonreuters.com;))