INVESTAR HLDG CORP

Ticker: ISTR CUSIP: 46134L105 Class: Common Stock

Philadelphia Financial Management of San Francisco, LLC's Holding History (CIK: 0001351407)

Note: Option positions (PUT/CALL) are excluded.

Q2 2017

Shares 50,000 Value ($000) $1,145 Avg Close $22.44 Range $21.27 - $23.75

Q1 2017

Shares 50,000 Value ($000) $1,095 Avg Close $20.29 Range $18.31 - $22.50

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	50,000	$1,145	$22.44	$21.27 - $23.75
Q1 2017	50,000	$1,095	$20.29	$18.31 - $22.50