Financial Performance - Origin Bancorp reported net income of $14.3 million, or $0.46 diluted EPS for Q4 2024, a decrease from $18.6 million, or $0.60 diluted EPS in Q3 2024[1]. - For the full year 2024, net income was $76.5 million, or $2.45 diluted EPS, down 9.6% from $2.71 in 2023[1]. - Net income for Q4 2024 was $14,270,000, down from $18,601,000 in Q3 2024, a decrease of 23%[35]. - Basic and diluted earnings per common share for Q4 2024 were both $0.46, compared to $0.60 in Q3 2024, a decline of 23%[35]. - Annualized net income for the quarter was $56,770,000, down from $91,025,000 in the previous quarter[56]. Earnings and Margins - Pre-tax, pre-provision earnings for Q4 2024 were $12.6 million, a significant drop from $28.3 million in the previous quarter[1]. - The net interest margin (NIM) improved to 3.31% for the quarter ended December 31, 2024, compared to 3.16% in the previous quarter[46]. - The fully tax equivalent net interest margin (NIM-FTE) expanded by 15 basis points to 3.33% in Q4 2024 compared to Q3 2024[4]. - The efficiency ratio for Q4 2024 was 83.85%, compared to 68.86% in Q3 2024, indicating a deterioration in operational efficiency[35]. Income and Expenses - Noninterest income for Q4 2024 was a negative $330,000, a decrease of $16.3 million from the linked quarter, primarily due to losses on securities sales[14]. - Noninterest expense increased by $2.9 million, or 4.6%, to $65.4 million in Q4 2024, driven by higher occupancy and equipment expenses[17]. - Total noninterest expense for the year was $251,038,000, an increase from $235,216,000 in 2023[59]. Loans and Deposits - Total loans held for investment (LHFI) decreased to $7.57 billion, down $383.1 million or 4.8% from the previous quarter[22]. - Total deposits were $8.22 billion, a decrease of $263.4 million or 3.1% compared to the linked quarter[29]. - Total loans held for investment (LHFI) decreased to $7,573,713 thousand as of December 31, 2024, down from $7,956,790 thousand in the previous quarter, representing a decline of 4.8%[44]. - Total deposits decreased to $8,223,120,000 from $8,486,568,000, reflecting a decline of approximately 3%[42]. Credit Quality - The provision for credit loss benefit was $5.4 million in Q4 2024, a $10 million change from a provision for credit loss expense in the previous quarter[10]. - Provision for credit losses showed a benefit of $(5,398,000) in Q4 2024, compared to a provision of $4,603,000 in Q3 2024, indicating improved credit quality[35]. - Nonperforming LHFI increased to $75,002 thousand, up from $64,273 thousand in the previous quarter, indicating a rise of 16.9%[44]. - The allowance for loan credit losses (ALCL) remained stable at $91,060 thousand, down from $95,989 thousand in the previous quarter, a decrease of 5.5%[44]. Securities and Investments - A bond portfolio optimization strategy was executed, resulting in a loss of $14.6 million on the sale of securities, negatively impacting diluted EPS by $0.37[10]. - The company realized a loss of $14.6 million from the sale of available-for-sale investment securities with a book value of $188.2 million[29]. - Loss on sales of securities, net totaled $14,799 thousand, affecting EPS by $(0.37)[51]. Future Outlook - The company aims for a greater than 1% return on average assets (ROAA) run rate by Q4 2025, with expected annual earnings improvement of approximately $21 million[4]. - The company expects to close six banking centers by February 2025, which is projected to reduce annual occupancy expenses by approximately $3.6 million[19]. - The company plans to hold a conference call on January 23, 2025, to discuss its fourth quarter and full year 2024 results[25].

Wall Street analysts forecast that Origin Bancorp (OBK) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a year-over-year decline of 16.7%. It is anticipated that revenues will amount to $87.75 million, exhibiting an increase of 8.1% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of ...

RUSTON, La., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (NYSE: OBK) (“Origin”), the financial holding company for Origin Bank, plans to issue fourth quarter and full year 2024 results after the market closes on Wednesday, January 22, 2025, and hold a conference call to discuss such results on Thursday, January 23, 2025, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). The conference call will be hosted by Drake Mills, Chairman, President and CEO of Origin, William J. Wallace, IV, Chief Financ ...

PART I - FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The company presents its unaudited consolidated financial statements for the period ending September 30, 2024, noting the negative impact of a former banker's suspicious activity | Key Financial Metrics | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total Assets | $9.97 billion | $9.72 billion | | Net Loans | $7.86 billion | $7.56 billion | | Total Deposits | $8.49 billion | $8.25 billion | | Total Liabilities | $8.82 billion | $8.66 billion | | Total Stockholders' Equity | $1.15 billion | $1.06 billion | | Key Income Statement Items | Q3 2024 | Q3 2023 | First Nine Months 2024 | First Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $74.8 million | $74.1 million | $222.0 million | $226.6 million | | Net Income | $18.6 million | $24.3 million | $62.2 million | $70.4 million | | Diluted EPS | $0.60 | $0.79 | $2.00 | $2.28 | [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $9.97 billion driven by loan growth, while total liabilities increased due to higher deposits | Balance Sheet Items (in thousands of USD) | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Total cash and cash equivalents | 321,191 | 280,441 | | Total securities | 1,178,594 | 1,272,054 | | Net loans | 7,860,801 | 7,564,076 | | **Total Assets** | **9,965,986** | **9,722,584** | | **Liabilities and Stockholders' Equity** | | | | Total deposits | 8,486,568 | 8,251,125 | | FHLB advances and other borrowings | 30,446 | 83,598 | | **Total Liabilities** | **8,820,313** | **8,659,679** | | **Total Stockholders' Equity** | **1,145,673** | **1,062,905** | [Consolidated Statements of Income](index=8&type=section&id=Consolidated%20Statements%20of%20Income) Q3 2024 net income was $18.6 million, down from $24.3 million in Q3 2023, due to higher interest and non-interest expenses | Income Statement Items (in thousands of USD) | Q3 2024 | Q3 2023 | First Nine Months 2024 | First Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net interest income | 74,804 | 74,130 | 222,017 | 226,568 | | Provision for credit losses | 4,603 | 3,515 | 12,846 | 14,018 | | Non-interest income | 15,989 | 18,119 | 55,709 | 50,139 | | Non-interest expense | 62,521 | 58,663 | 185,616 | 174,310 | | **Net Income** | **18,601** | **24,313** | **62,222** | **70,375** | | **Diluted Earnings Per Share** | **$0.60** | **$0.79** | **$2.00** | **$2.28** | [Consolidated Statements of Comprehensive Income (Loss)](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Q3 2024 comprehensive income was $51.5 million, significantly higher than Q3 2023 due to positive changes in unrealized gains on securities | Comprehensive Income Items (in thousands of USD) | Q3 2024 | Q3 2023 | First Nine Months 2024 | First Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Income | 18,601 | 24,313 | 62,222 | 70,375 | | Other comprehensive income (loss), net of tax | 32,939 | (19,850) | 26,778 | (12,854) | | **Comprehensive Income** | **51,540** | **4,463** | **89,000** | **57,521** | [Consolidated Statements of Changes in Stockholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to $1.15 billion as of September 30, 2024, driven by net income and other comprehensive income | Changes in Stockholders' Equity (in thousands of USD) - First Nine Months 2024 | Amount | | :--- | :--- | | Balance at January 1, 2024 | 1,062,905 | | Net income | 62,232 | | Other comprehensive income (loss), net of tax | 26,778 | | Dividends declared | (14,222) | | Stock-based compensation and other | 7,990 | | **Balance at September 30, 2024** | **1,145,673** | [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first nine months of 2024, net cash from operations was $78.6 million, while net cash used in investing was $172.7 million | Cash Flow Items (in thousands of USD) | First Nine Months 2024 | First Nine Months 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | 78,606 | 100,475 | | Net cash used in investing activities | (172,695) | (132,772) | | Net cash provided by (used in) financing activities | 134,839 | (21,397) | | **Net increase (decrease) in cash and cash equivalents** | **40,750** | **(53,694)** | [Condensed Notes to Consolidated Financial Statements](index=14&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) The notes provide details on accounting policies and financial items, including a significant disclosure on a former banker's suspicious activity - In Note 4 (Loans), total loans held for investment (LHFI) were **$7.96 billion** as of September 30, 2024, with high concentrations in commercial real estate and C&I loans[63](index=63&type=chunk) - In Note 11 (Capital), the company and its bank subsidiary met all capital adequacy requirements and were classified as **"well capitalized"** as of September 30, 2024[176](index=176&type=chunk)[177](index=177&type=chunk) - In Note 12 (Commitments and Contingencies), the company disclosed suspicious activity by a former banker, resulting in a **$7.3 million provision for loan losses** and **$2.3 million in related expenses**[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=51&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial condition and results for Q3 and the first nine months of 2024, highlighting the impact of a former banker's suspicious activity - Q3 2024 net income was **$18.6 million ($0.60 per share)**, down from $24.3 million ($0.79 per share) in Q3 2023[205](index=205&type=chunk) - Loans held for investment (LHFI) grew **3.9% to $7.96 billion** and total deposits grew **2.9% to $8.49 billion** since year-end 2023[201](index=201&type=chunk)[202](index=202&type=chunk) - The suspicious activity of a former banker negatively impacted diluted EPS by **$0.27** for the first nine months of 2024[206](index=206&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Q3 2024 net interest income was $74.8 million, as loan interest income growth was offset by higher deposit and non-interest expenses | Comparison of Results of Operations (in thousands of USD) | Q3 2024 | Q3 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Net interest income | 74,804 | 74,130 | 0.9% | | Provision for credit losses | 4,603 | 3,515 | 31.0% | | Non-interest income | 15,989 | 18,119 | (11.8)% | | Non-interest expense | 62,521 | 58,663 | 6.6% | - Net interest margin (FTE) slightly increased to **3.18%** in Q3 2024 from 3.14% in Q3 2023, due to a higher mix of high-yield loans[211](index=211&type=chunk) [Comparison of Financial Condition](index=62&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew 2.5% to $9.97 billion, driven by a 3.9% increase in loans, while nonperforming assets rose significantly due to a former banker's activities | Financial Condition Items (in millions of USD) | September 30, 2024 | December 31, 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 9,966 | 9,723 | 2.5% | | Loans Held for Investment (LHFI) | 7,957 | 7,661 | 3.9% | | Total Deposits | 8,487 | 8,251 | 2.9% | | Nonperforming LHFI | 64.3 | 30.1 | 113.6% | - The allowance for loan losses to nonperforming loans coverage ratio decreased to **149.35%** from 321.66% at year-end 2023 due to the sharp increase in nonperforming loans[282](index=282&type=chunk) [Liquidity and Capital Resources](index=69&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with core deposits as its primary funding source and all capital ratios exceeding "well capitalized" levels | Regulatory Capital Ratios (%) | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Origin Bancorp, Inc.** | | | | Common equity Tier 1 capital ratio | 12.46 | 11.83 | | Tier 1 leverage ratio | 10.93 | 10.50 | | Total capital ratio | 15.45 | 15.02 | | **Origin Bank** | | | | Common equity Tier 1 capital ratio | 12.43 | 11.95 | - As of September 30, 2024, the company had substantial contingent liquidity, including **$2.11 billion from the FHLB** and **$1.40 billion from the Federal Reserve's discount window**[297](index=297&type=chunk)[307](index=307&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=73&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate fluctuation, which is managed through simulation modeling and shows an asset-sensitive balance sheet | Interest Rate Change (Basis Points) | Change in Net Interest Income (%) | Change in Economic Value of Equity (%) | | :--- | :--- | :--- | | +400 | 12.8 | (13.1) | | +200 | 6.6 | (6.3) | | +100 | 3.3 | (3.0) | | -100 | (3.9) | 3.0 | | -200 | (6.0) | 6.1 | - The company's primary market risk is **interest rate volatility**, which is overseen by the Asset Liability Management Committee[315](index=315&type=chunk)[317](index=317&type=chunk) [Controls and Procedures](index=75&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, and has enhanced internal controls in response to the former banker's activities - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the reporting period[326](index=326&type=chunk) - The company has **strengthened internal controls** to mitigate risks similar to the recently discovered suspicious activities of a former banker[327](index=327&type=chunk) Part II - OTHER INFORMATION [Legal Proceedings](index=76&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 of the financial statements for details on legal proceedings, mainly concerning contingent losses from a former banker's activities - For details on legal proceedings, the report refers to the disclosure in **Note 12** regarding contingent losses from a former banker's suspicious activities[329](index=329&type=chunk) [Risk Factors](index=76&type=section&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to the risk factors disclosed in its 2023 Form 10-K - There were **no material changes** during the reporting period to the risk factors previously disclosed in the company's 2023 Form 10-K[330](index=330&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](index=76&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company did not repurchase any shares during the quarter under its authorized $50 million stock repurchase program - The company authorized a **$50 million stock repurchase program** in July 2022[331](index=331&type=chunk) - **No stock repurchases** were made during the quarter ended September 30, 2024[332](index=332&type=chunk) [Other Items](index=76&type=section&id=Other%20Items) Items 3 and 4 are not applicable, and no new Rule 10b5-1 trading arrangements were adopted by directors or officers during the quarter - Item 3 (Defaults Upon Senior Securities) and Item 4 (Mine Safety Disclosures) are **not applicable**[333](index=333&type=chunk) - No director or executive officer adopted, terminated, or modified a **Rule 10b5-1 trading arrangement** during Q3 2024[333](index=333&type=chunk)

Origin Bancorp (OBK) reported $90.79 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 1.6%. EPS of $0.60 for the same period compares to $0.71 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $93.4 million, representing a surprise of -2.79%. The company delivered an EPS surprise of -9.09%, with the consensus EPS estimate being $0.66.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Origin Bancorp (OBK) came out with quarterly earnings of $0.60 per share, missing the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was expected that this bank holding company would post earnings of $0.62 per share when it actually produced earnings of $0.67, delivering a surprise of 8.06%.Over the last four quarters, th ...

Exhibit 99.1 For Immediate Release ORIGIN BANCORP, INC. REPORTS EARNINGS FOR THIRD QUARTER 2024 RUSTON, Louisiana (October 23, 2024) - Origin Bancorp, Inc. (NYSE: OBK) ("Origin," "we," "our" or the "Company"), the holding company for Origin Bank (the "Bank"), today announced net income of $18.6 million, or $0.60 diluted earnings per share for the quarter ended September 30, 2024, compared to net income of $21.0 million, or $0.67 diluted earnings per share, for the quarter ended June 30, 2024. Pre-tax, pre-p ...

Origin Bancorp (OBK) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items. Origin Bancorp, which belongs to the Zacks Banks - Southeast industry, posted revenues of $96.36 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.24%. This compares to year-ago revenues of $90.93 million. The company has topped consens ...

Financial Performance - Net income for the quarter ended June 30, 2024, was $21.0 million, or $0.67 diluted earnings per share, a decrease from $22.6 million, or $0.73 per share in the previous quarter[1] - Net income for Q2 2024 was $20,989,000, down from $22,632,000 in Q1 2024, representing a 7.3% decrease[33] - Annualized net income for the six months ended June 30, 2024, was $87,721,000, down from $92,887,000 in the same period of 2023[63] - PTPP earnings (non-GAAP) for the same period were $31,967,000, slightly up from $31,871,000 in the prior quarter[58] - ROAA (annualized) (GAAP) for June 30, 2024, was 0.84%, down from 0.92% in the previous quarter[58] Income and Revenue - Noninterest income reached $22.5 million, an increase of $5.2 million, or 30.2%, from the linked quarter, marking the highest level since becoming publicly traded in 2018[3] - Noninterest income rose to $22,465,000 in Q2 2024, compared to $17,255,000 in Q1 2024, marking a 30.5% increase[33] - Total interest and dividend income for the three months ended June 30, 2024, was $141,794,000, an increase from $138,701,000 in the previous quarter[41] Expenses - Noninterest expense was $64.4 million, an increase of $5.7 million, or 9.7%, from the linked quarter, driven by higher salaries and employee benefits[17] - Total noninterest expense rose to $64,388,000 from $58,707,000 in the previous quarter, primarily due to increased salaries and employee benefits[41] - Total noninterest expense for the six months ended June 30, 2024, was $123,095,000, an increase from $115,647,000 in the same period of 2023[63] Loans and Credit Quality - Total loans held for investment increased to $7.96 billion, reflecting a growth of $59.1 million, or 0.7%, compared to the previous quarter[3] - Nonperforming loans increased by $35.4 million, with nonperforming loans to total loans held for investment rising to 0.95% from 0.51% in the previous quarter[11] - The allowance for loan credit losses increased to $100.9 million, reflecting a 2.5% increase from the previous quarter[10] - The provision for credit losses was $5.2 million, compared to $3.0 million in the previous quarter, driven by specific loan relationships impacted by questioned activity[12] - Nonperforming assets rose to $82,639 thousand, a significant increase from $44,374 thousand in the prior quarter, reflecting a 86% increase[45] Assets and Equity - Total assets reached $9,947,182,000 in Q2 2024, up from $9,892,379,000 in Q1 2024[33] - Stockholders' equity was $1.10 billion at June 30, 2024, an increase of $17.0 million, or 1.6%, compared to the linked quarter, and an increase of $98.0 million, or 9.8%, compared to June 30, 2023[25] - The tangible book value per common share was $29.77, reflecting an increase of $0.53, or 1.8%, compared to the previous quarter[3] Deposits and Borrowings - Total deposits at June 30, 2024, were $8.51 billion, an increase of $5.4 million, or 0.1%, compared to the linked quarter, and represented an increase of $20.8 million, or 0.2%, from June 30, 2023[25] - FHLB advances and other borrowings at June 30, 2024, were $40.7 million, an increase of $27.6 million, or 209.6%, compared to the linked quarter[25] Market and Operational Insights - The company plans to expand locations in South Alabama and the Florida Panhandle in 2024[25] - The average rate on interest-bearing deposits increased to 3.95%, compared to 3.85% in the previous quarter[5] - The net interest margin (NIM) for the quarter was 3.15%, slightly down from 3.17% in the previous quarter[49]

RUSTON, La., July 10, 2024 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (NYSE: OBK) ("Origin"), the financial holding company for Origin Bank, plans to issue second quarter 2024 results after the market closes on Wednesday, July 24, 2024, and hold a conference call to discuss such results on Thursday, July 25, 2024, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). The conference call will be hosted by Drake Mills, Chairman, President and CEO of Origin, William J. Wallace, IV, Chief Financial Officer of Origi ...