Investar Holding Corporation’s banking subsidiary, Investar Bank has gotten the regulatory approval necessary to move from being a state bank to a national bank, effective July 1.
The approval from the Office of the Comptroller of the Currency and the Louisiana Office of Financial Institutions to convert from a Louisiana state bank charter to a national bank charter, will allow the bank to grow into a regional institution, says Lisa O’Deay, Investar’s marketing director.
Investar Bank has been growing its presence along the Interstate 10 corridor—most recently expanding to Lake Charles—in an effort to bridge its presence to the greater Houston market, which it entered in March by acquiring Mainland Bank.
The bank’s primary goal is to grow through mergers and acquisitions in Louisiana and Texas, according to a company memo. Investar also plans to move into the New Orleans area by adding two locations there within the next year.