Wichita Falls Bancshares, Inc. (“Wichita Falls”), the holding company of First National Bank ($1.3 billion in assets), and Investar Holding Corporation (“Investar”) (NASDAQ: ISTR), the holding company of Investar Bank, N.A. ($2.8 billion in assets), jointly announced that Wichita Falls has been acquired by Investar for approximately $112.9 million in stock and cash.
Olsen Palmer LLC served as financial advisor to Wichita Falls and issued a fairness opinion to its Board of Directors.
Pursuant to the terms of the transaction, all of the issued and outstanding shares of Wichita Falls common stock were converted into aggregate merger consideration consisting of 3,955,334 shares of Investar common stock and $7.2 million in cash for an aggregate transaction value of approximately $112.9 million. The closing price of Investar’s stock increased 32% between the date the transaction was entered into and the date of closing.
Additionally, two directors of Wichita Falls and First National Bank have been appointed to the Board of Directors of Investar and Investar Bank, N.A.
Olsen Palmer is the #1 ranked sell-side bank M&A advisor nationwide – and top 3 overall – based on the number of transactions advised upon in 2025, according to S&P Global.