Financial Statements and Supplementary Data INDEPENDENT AUDITORS' REPORT To the Shareholders and Board of Directors Investar Holding Corporation Baton Rouge, Louisiana We have audited the accompanying consolidated balance sheets of Investar Holding Corporation as of December 31, 2014 and 2013, and the related statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows for each of the years during the three year period ended December 31, 2014.