Investar Bank buys land for Lafayette branch

Investar Bank, a Baton Rouge-based community bank, has announced plans to branch into Lafayette. Investar has acquired land on Ambassador Caffery Parkway in south Lafayette and aims to raise $2 million to build the branch. No timetable has been set for the opening. “The Lafayette market is a growing metropolitan area,” says Autumn Caldwell, private banking specialist with Investar. “We feel this market would be a good fit for our model of banking, which is relationship-oriented.” In June, Investar announced plans to merge with South Louisiana Business Bank, which launched in 2008. The merger, Caldwell says, “is awaiting regulatory and shareholder approval” but is expected to close by the fourth quarter of 2011. Caldwell says Investar also intends to raise capital for a New Orleans branch and for future Lafayette expansion. Investar Bank, which opened in June 2006, is a Baton Rouge-based financial center with additional locations in Denham Springs and Port Allen. The bank has $202.6 million in assets. —Ian McGibboney