Investor Presentaiton
Non-GAAP Reconciliation
(Dollars in thousands)
For the Three Months Ended
3/31/2022
6/30/2022
9/30/2022
12/31/2022
3/31/2023
Net interest income
$21,821
$21,978
$23,467
$22,519
$20,173
Provision for credit losses
(449)
941
1,162
1,268
Net interest income after provision
Noninterest income
$22,270
$21,037
$22,305
$21,251
388
$19,785
5,866
6,378
2,665
3,441
1,076
(Gain) loss on call or sale of investment securities
(6)
1
(Gain) loss on sale or disposition of fixed assets
(373)
461
103
67
859
(Gain) loss on sale of other real estate owned
(41)
84
(50)
(2)
142
Gain on sale of loans
(75)
Swap termination fee income
(3,344)
(4,733)
Change in the fair value of equity securities
(11)
86
27
(12)
4
Income from insurance proceeds
(1,384)
Change in the net asset value of other investments
(305)
44
33
Core noninterest income
$2,091
$2,276
$2,440
$2,154
$2,040
Core earnings before noninterest expense
24,361
23,313
24,745
23,405
21,825
Total noninterest expense
15,433
15,552
15,967
13,913
16,175
Acquisition expense
Severance
(8)
(624)
Employee retention credit, net of consulting fees
2,342
Divestiture Expense
(651)
Loss on early extinguishment of subordinated debt
(222)
Core noninterest expense
$15,425
$15,330
$15,967
$15,631
$15,524
Core earnings before income tax expense
$8,936
$7,983
$8,778
$7,774
$6,301
Core income tax expense
1,829
1,655
1,659
1,555
1,178
$7,107
$6,328
$7,119
$6,219
$5,123
Core Net Income
INVESTAR®
HOLDING CORPORATION
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