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BATON ROUGE, La., April 09, 2019 (GLOBE NEWSWIRE) -- Investar Bank has hired Kevin Lacy as the new Commercial & Industrial (C&I) Market Manager and Senior Vice President to lead its expansion into the Lake Charles, Louisiana market. Kevin Lacy has 15 years of banking experience and has worked in various commercial banking positions at Hancock Whitney Bank. He specializes in the C&I sector where he has banked relationships located throughout Calcasieu and Cameron Parishes. Kevin Lacy is actively involved in many non-profit organizations in the Lake Charles area and is the newly elected Chairman of the Board for United Way SWLA. He holds a Bachelor of Science degree in Finance from Louisiana State University.
Joining Kevin Lacy will be his father and veteran banker, Steve Lacy, who will assist him with Investar Bank’s expansion into the Lake Charles market. Steve Lacy has over 43 years of banking experience and retired nearly two years ago from Hancock Whitney Bank as Lake Charles’ City President. He is well known for establishing brand presence in the market and has worked as a commercial banker for Hancock Whitney Bank, Calcasieu Marine, and Premier/Bank One. Steve Lacy specializes in working capital and capital expenditures financing and real estate lending. He joins the Investar Bank team as the Business Development Officer and Senior Vice President for the Lake Charles market.
“We are so fortunate to have Kevin and Steve leading Investar’s entrance into the Lake Charles MSA. They live in Lake Charles and have spent the majority of their careers banking some of the top businesses in the area. They are well versed on the local economy and various in-market industries,” Jeff Blum, C&I Banking President, said. “I’m extremely excited to be able to work with them again. We look forward to executing our strategy of growing core deposits while establishing a diverse loan portfolio in this new market,” continued Blum.
Blum continues expanding a highly experienced C&I team across South Louisiana by investing in the Lake Charles market. Also joining Investar is Julie Prentice as a Commercial Banking Specialist to work alongside Kevin and Steve, with whom she has worked for the last four years.
The team will be located in temporary office space and will conduct all banking business through the Bank’s existing branch in Lafayette, Louisiana until the necessary regulatory approvals can be obtained. Eventually, the team is expected to operate out of a new Investar Bank branch, to be located at 2089 Country Club Road in Lake Charles. The plans to build a full-service branch are underway and construction should begin within 60 days. This branch follows our strategy of expansion along the Interstate 10 corridor and will bridge Investar’s presence to the Greater Houston, Texas market that the Bank recently entered in March 2019 with its acquisition of Mainland Bank.
At the site of the future Lake Charles branch, the Bank currently operates an Interactive Teller Machine (ITM). This ITM operates as an ATM 24 hours a day, seven days a week to anyone with a financial institution debit/credit/ATM card. In addition, during business hours of 8:30 a.m. to 5 p.m., Monday through Friday, customers can touch the screen to interact with an Investar Bank teller in real-time. Existing Investar Bank customers can make deposits, cash checks and conduct many other transactions through the ITM.
Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, a Louisiana-chartered bank. Investar Bank had total assets of approximately $1.8 billion as of December 31, 2018 and currently operates 24 branches serving southeast Louisiana and southeast Texas.
This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events.
Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Investar internet website http://www.InvestarBank.com.
We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.
Investar Holding Corporation
Chief Financial Officer