Investar plans first branch in the New Orleans area
Investar Bank says it has purchased property in Metairie on which it plans to open its first New Orleans-area branch. The Baton Rouge-headquartered bank says it will renovate an existing 8,300-square-foot, three-story building at 500 Veterans Blvd. Pending regulatory approval, Investar says, it expects to begin renovations next month and open the branch in the third quarter, hiring approximately 15 new employees. The branch will offer Investar's full slate of personal and business banking products, as well as drive-up teller lanes, ATM and safe deposit boxes. "The Interstate 10/12 corridor in southeast Louisiana has been called the state's 'Super Region' by many experts because of its concentration of population, businesses, government, manufacturing and other segments that drive the Louisiana economy," says Investar President John D'Angelo. "Financial services customers want and deserve personal attention and access to the products that meet their needs. That is Investar's strategy, and we're excited to be growing in this vibrant region of the state." Investar says it aims to enter the Lafayette market in 2013, pending regulatory approval, with a new branch on Ambassador Caffery Parkway. The bank established branches in Ascension and Livingston parishes in 2011, and D'Angelo says it's also considering a branch in St. Tammany Parish. The Metairie branch will be the bank's seventh.
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