Turning a profit: Baton Rouge-based Investar Holdings Corporation, the parent company of Investar Bank, today reported a net income of $2.3 million, or 25 cents per diluted share, compared to $1.8 million, for 26 cents per diluted share, during the same period in 2016. The bank’s record revenues follow the completion of Investar’s two acquisitions: Citizens Bancshares in July and The Highlands Bank in December. John D’Angelo, president and CEO, says the bank expects to complete the integration of The Highlands Bank branch and operating systems in the first quarter of this year. Read more.
Made in Louisiana: The Louisiana Department of Agriculture and Forestry has rolled out new eligibility requirements and logo designs for a state program that certifies agricultural products are grown in Louisiana. The new eligibility requirements for the already in existence “Certified Logo program” specify that any Louisiana-certified product must be made, grown, manufactured, processed, produced or substantially transformed within the state’s boundaries. A company must also be in compliance with applicable state and federal permits, licenses and laws to be eligible to have their products certified in Louisiana.
Unchanged: The Federal Reserve is leaving its benchmark interest rate unchanged but signaled it expects to resume raising rates gradually to reflect a healthy job market and economy. At Janet Yellen’s final meeting as chair, the Fed kept its key short-term rate in a still-low range of 1.25% to 1.5%. Yellen led a cautious approach to rate increases in four years as chair, and Jerome Powell, who will succeed her next week, has indicated he favors a similar approach. The Fed raised its key rate three times in 2017, and most economists expect the Powell-led Fed to do so at least three additional times this year beginning in March.
