New Orleans, Louisiana March 16, 2018 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholders and Board of Directors Investar Holding Corporation Baton Rouge, Louisiana We have audited the accompanying consolidated balance sheet of Investar Holding Corporation (the Company) as of December 31, 2016, and the related consolidated statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2016.