Jun 21, 2014 21:47 Investar IPO could generate $56 million Investar IPO could generate $56 million BY TED GRIGGS| email@example.com June 21, 2014 Comments Baton Rouge-based Investar Holding, which has 10 branches, could generate as much as $56.2 million from its initial public offering, according to a filing with the U.S. Securities and Exchange Commission. Investar could register 3.3 million shares with a proposed maximum offering price of $17, the company said in its prospectus. The company estimates its common stock will be priced at $15 to $17 per share. Investar plans to list its shares on the Nasdaq Global Market under the symbol ISTR. Investar focuses on small- to medium-sized businesses and individuals. The company has two locations in both Baton Rouge and Mandeville, and one each in Metairie, Lafayette, Prairieville, Port Allen, Denham Springs and Hammond. Investar has about 140 employees at its branches. Investar said it plans to use the IPO revenue to support growth in loans and deposits, bolster its capital to permit future acquisitions, although no specific deals are being considered, and for other general working capital and corporate purposes. The firm was founded in June 2006 with $10.1 million from local investors. As of March 31, Investar had total assets of about $673.9 million, total loans of $528.2 million and total deposits of $564.2 million. Commercial real estate loans are the largest piece of the loan portfolio, accounting for $185.4 million, or 35.1 percent.