Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $0.73 for Q1, with pretax pre-provision earnings of $31.9 million [54][66] - Tangible book value increased by 2% to $29.24, and the TCE ratio remained flat at 9.3% [54][11] - The allowance for credit losses increased by $1.5 million to $98.4 million, resulting in a slight percentage change from the prior quarter [7] Business Line Data and Key Metrics Changes - Gross loans held for investment grew by 3.1% during the quarter, with a 2.3% increase excluding mortgage warehouse [87] - Noninterest income for Q1 was reported at $17.3 million, up from $14.6 million in Q4, driven by seasonal strength in the insurance business and increased mortgage production [68] - Noninterest expense decreased to $58.7 million in Q1 from $60.9 million in Q4 [69] Market Data and Key Metrics Changes - Total deposits grew by 3.1% during the quarter, with a 1.3% increase excluding brokered deposits [9] - The net interest margin remained flat at 3.19%, with expectations for slight improvement moving forward [10] - The company anticipates continued pressure on the noninterest-bearing deposit mix but expects it to remain above 20% [9] Company Strategy and Development Direction - The company is focused on improving profitability and driving revenue through strategic investments in new markets, such as South Alabama and the Florida Panhandle [79] - A strategic decision was made to realign the treasury management model to better serve geographic strategies and enhance efficiency [4] - The company aims to maintain a disciplined approach to loan pricing while focusing on core deposit growth [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about deposit growth and the ability to achieve loan growth in the mid-single digits for the year [47][88] - The company is preparing to cross the $10 billion asset threshold and is focused on managing expenses while seeking growth opportunities [2][96] - Management highlighted the importance of maintaining a strong culture and building long-term relationships with clients as a competitive differentiator [62] Other Important Information - The company successfully sold its MSR asset, which is expected to reduce volatility in earnings and regulatory risk [55] - Nonperforming loans increased by $10.3 million, but levels remain within historically acceptable ranges [64] - The company has implemented robotic process automation, saving approximately 3,100 hours of manual work in Q1 2024 [5] Q&A Session Summary Question: What are the expectations on deposit costs moving forward? - Management indicated that while interest-bearing deposit costs were up 13 basis points, they expect some easing from recent levels and are focused on maintaining net interest margin [14][15] Question: Can you provide insights on noninterest-bearing deposits? - Management noted a shift in the noninterest-bearing deposit mix but expressed optimism about stabilizing trends and maintaining levels above 20% [18][104] Question: What are the expectations for loan and deposit growth? - Management reiterated expectations for loan growth in the mid-single digits, with deposit growth expected to match this [47][88] Question: How is the company managing expenses? - Management highlighted effective expense management in Q1 but cautioned against over-optimism, maintaining guidance at the appropriate level [29] Question: What are the thoughts on capital deployment and M&A? - Management expressed confidence in capital flexibility for future opportunities, including potential M&A, while focusing on organic growth in new markets [94][96]

For the quarter ended March 2024, Origin Bancorp (OBK) reported revenue of $90.58 million, down 3.2% over the same period last year. EPS came in at $0.73, compared to $0.79 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $88.8 million, representing a surprise of +2.00%. The company delivered an EPS surprise of +19.67%, with the consensus EPS estimate being $0.61.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

Exhibit 99.1 For Immediate Release ORIGIN BANCORP, INC. REPORTS EARNINGS FOR FIRST QUARTER 2024 RUSTON, Louisiana (April 24, 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 $22.6 million, or $0.73 diluted earnings per share for the quarter ended March 31, 2024, compared to net income of $13.4 million, or $0.43 diluted earnings per share, for the quarter ended December 31, 2023. Adjusted pre-tax ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to __________ Commission file number 001-38487 Origin Bancorp, Inc. (Exact name of registrant as specified in its charter) Louisiana 72-1192928 (State ...

Financial Performance Highlights - Net Interest Margin (NIM-FTE) was 3.19% for 4Q23, a 5 basis point increase compared to 3Q23[6] - Net income was $13.425 million in 4Q23, compared to $24.313 million in 3Q23[6] - Adjusted Pre-Tax, Pre-Provision (PTPP) Earnings were $26.654 million in 4Q23, compared to $30.663 million in 3Q23[6] - Diluted EPS was $0.43 in 4Q23, compared to $0.79 in 3Q23[6] - Return on Average Assets (ROAA) was 0.55% in 4Q23, compared to 0.96% in 3Q23[6] - Return on Average Stockholders' Equity (ROAE) was 5.26% in 4Q23, compared to 9.52% in 3Q23[6] Balance Sheet - Total Loans Held for Investment (LHFI) were $7.661 billion in 4Q23[6, 15] - Total Assets were $9.723 billion in 4Q23[6] - Total Deposits were $8.251 billion in 4Q23[6] - LHFI to deposits, excluding mortgage warehouse lines of credit (MW LOC), were 88.8% at December 31, 2023, compared to 87.0% at September 30, 2023[6]

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Origin Bancorp, Inc.'s unaudited consolidated financial statements for Q3 and YTD 2023, detailing financial position, performance, and cash flows with explanatory notes [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Total assets slightly increased to $9.73 billion by Q3 2023, driven by loan growth and deposit increases, while FHLB advances decreased and equity rose Consolidated Balance Sheet Highlights (in thousands) | Account | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Assets | $9,733,303 | $9,686,067 | | Total Cash and Cash Equivalents | $305,278 | $358,972 | | Total Securities | $1,308,401 | $1,659,127 | | Loans, net | $7,472,886 | $7,002,861 | | Total Deposits | $8,374,488 | $7,775,702 | | FHLB advances and other borrowings | $12,213 | $639,230 | | Total Stockholders' Equity | $998,945 | $949,943 | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q3 2023 significantly increased to $24.3 million, driven by lower credit loss provisions and higher noninterest income, despite a decrease in net interest income Key Income Statement Data (in thousands, except per share amounts) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $74,130 | $78,523 | $226,568 | $190,529 | | Provision for Credit Losses | $3,515 | $16,942 | $14,018 | $20,067 | | Total Noninterest Income | $18,119 | $13,723 | $50,139 | $43,845 | | Total Noninterest Expense | $58,663 | $56,241 | $174,310 | $143,165 | | Net Income | $24,313 | $16,243 | $70,375 | $58,237 | | Diluted EPS | $0.79 | $0.57 | $2.28 | $2.30 | [Consolidated Statements of Comprehensive Income (Loss)](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income improved significantly to $4.5 million in Q3 2023, primarily due to a smaller other comprehensive loss compared to the prior year Comprehensive Income (Loss) Summary (in thousands) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $24,313 | $16,243 | $70,375 | $58,237 | | Other Comprehensive Loss, net of tax | $(19,850) | $(59,254) | $(12,854) | $(180,962) | | Comprehensive Income (Loss) | $4,463 | $(43,011) | $57,521 | $(122,725) | [Consolidated Statements of Changes in Stockholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to $998.9 million by Q3 2023, primarily driven by net income, partially offset by comprehensive loss and dividends - Total stockholders' equity increased by **$49.0 million** during the first nine months of 2023[29](index=29&type=chunk) - Key changes for the nine months ended September 30, 2023 include: - Net Income: +**$70.4 million** - Other Comprehensive Loss: -**$12.9 million** - Dividends Declared: -**$14.1 million** - Stock-based compensation and other activities: +**$5.6 million**[29](index=29&type=chunk) [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was $100.5 million, while investing and financing activities resulted in net cash usage, leading to an overall decrease in cash and cash equivalents Cash Flow Summary for Nine Months Ended Sep 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $100,475 | $93,811 | | Net Cash Used in Investing Activities | $(132,772) | $(276,658) | | Net Cash Used in Financing Activities | $(21,397) | $(222,301) | | **Net Decrease in Cash** | **$(53,694)** | **$(405,148)** | [Condensed Notes to Consolidated Financial Statements](index=14&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) These notes provide detailed accounting policies and financial data, covering credit losses, fair value, loan portfolios, borrowings, capital adequacy, and merger impacts [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=53&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 and YTD 2023 financial performance, highlighting net income growth, net interest margin pressure, credit quality, balance sheet changes, and strong liquidity and capital [2023 Third Quarter Highlights](index=53&type=section&id=2023%20Third%20Quarter%20Highlights) Q3 2023 highlights include significant net income growth, influenced by a loss on securities sale and a gain on an equity security, with increased book value per share - Net income for Q3 2023 was **$24.3 million**, an increase of **49.7% YoY**, with diluted EPS of **$0.79**[226](index=226&type=chunk) - A strategic sale of **$181.9 million** in AFS securities resulted in a **$7.2 million loss**, negatively impacting EPS by **$0.18**[226](index=226&type=chunk) - A **$10.1 million** positive valuation adjustment on a non-marketable equity security positively impacted EPS by **$0.26**[226](index=226&type=chunk) [Results of Operations](index=54&type=section&id=Results%20of%20Operations) Q3 2023 net interest income decreased due to rising deposit costs, but net income benefited from lower credit loss provisions and higher noninterest income, while YTD net interest income grew Net Interest Margin (NIM) - FTE | Period | NIM-FTE | Change (bps) | | :--- | :--- | :--- | | Q3 2023 | 3.14% | -54 bps (YoY) | | YTD 2023 | 3.24% | -4 bps (YoY) | - In Q3 2023, a strategic sale of AFS securities with a book value of **$181.9 million** resulted in a **$7.2 million loss**[234](index=234&type=chunk)[247](index=247&type=chunk) - Proceeds were used to pay down FHLB advances, with an estimated positive forward impact to NIM of **11 basis points**[234](index=234&type=chunk)[247](index=247&type=chunk) - Q3 2023 noninterest income was boosted by a **$10.1 million** gain from a positive valuation adjustment on a non-marketable equity security[248](index=248&type=chunk) - The provision for credit losses decreased significantly to **$3.5 million** in Q3 2023 from **$16.9 million** in Q3 2022, as the prior year included a large provision related to the BTH merger[242](index=242&type=chunk) [Financial Condition](index=65&type=section&id=Financial%20Condition) Total assets reached $9.73 billion, driven by loan growth funded by increased deposits, while nonperforming loans rose and the allowance for credit losses remained stable Loan Portfolio Composition (in thousands) | Loan Type | Sep 30, 2023 | Dec 31, 2022 | % Change | | :--- | :--- | :--- | :--- | | Total Real Estate | $5,200,816 | $4,727,841 | 10.0% | | Commercial and Industrial | $2,058,073 | $2,051,161 | 0.3% | | **Total LHFI** | **$7,568,063** | **$7,090,022** | **6.7%** | Credit Quality Ratios | Ratio | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Nonperforming LHFI to Total LHFI | 0.42% | 0.14% | | ALCL to Total LHFI | 1.26% | 1.23% | | ALCL to Nonperforming LHFI | 301.12% | 876.87% | - Total deposits increased by **$598.8 million (7.7%)** since year-end 2022, driven by a **$663.8 million** increase in brokered time deposits and a **$255.0 million** increase in money market deposits, offset by a **$473.8 million** decrease in noninterest-bearing demand deposits[313](index=313&type=chunk) - Estimated uninsured and uncollateralized deposits decreased to **32.8%** of total deposits from **44.1%** at year-end 2022[318](index=318&type=chunk) [Liquidity and Capital Resources](index=73&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with $5.09 billion in available sources and robust capital ratios significantly exceeding regulatory minimums - Total primary and secondary liquidity sources were **$5.09 billion** at September 30, 2023[331](index=331&type=chunk) - The company has borrowing capacity of **$2.27 billion** from the FHLB and **$1.69 billion** from the FRB discount window[320](index=320&type=chunk)[330](index=330&type=chunk) Origin Bancorp, Inc. Regulatory Capital Ratios | Ratio | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Common Equity Tier 1 | 11.46% | 10.93% | | Tier 1 Capital | 11.64% | 11.12% | | Total Capital | 14.61% | 14.23% | | Tier 1 Leverage | 10.00% | 9.66% | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=77&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate risk using simulation models, showing sensitivity to rate changes, and has completed its transition from LIBOR to SOFR with no material impact Interest Rate Sensitivity Analysis (12-Month Horizon) | Change in Interest Rates (bps) | % Change in Net Interest Income | % Change in Fair Value of Equity | | :--- | :--- | :--- | | +400 | +9.6% | -7.1% | | +200 | +5.0% | -3.5% | | +100 | -1.2% | -3.9% | | -100 | +0.8% | +2.8% | - The company has completed its transition away from LIBOR, converting remaining instruments to SOFR-based rates effective July 1, 2023, with no material financial impact[358](index=358&type=chunk) [Item 4. Controls and Procedures](index=79&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[359](index=359&type=chunk) - No changes in internal control over financial reporting occurred during Q3 2023 that materially affected, or are reasonably likely to materially affect, internal controls[360](index=360&type=chunk) Part II - OTHER INFORMATION [Item 1. Legal Proceedings](index=80&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal actions, none of which are expected to have a material adverse effect on its financial condition or liquidity - The company is party to various legal actions in the ordinary course of business, but management does not expect any to have a material adverse effect on its financial condition[205](index=205&type=chunk)[361](index=361&type=chunk) [Item 1A. Risk Factors](index=80&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported to the risk factors previously disclosed in the 2022 Form 10-K or prior 2023 quarterly reports - No material changes were made to the risk factors previously disclosed in the 2022 Form 10-K or prior 2023 quarterly reports[363](index=363&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](index=80&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company has an authorized $50 million stock repurchase program, but no shares were repurchased during Q3 2023 - A stock repurchase program for up to **$50 million** was authorized in July 2022[364](index=364&type=chunk) - No stock repurchases were made during the quarter ended September 30, 2023[365](index=365&type=chunk) [Item 3. Defaults Upon Senior Securities](index=80&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) Not applicable [Item 4. Mine Safety Disclosures](index=80&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable [Item 5. Other Information](index=80&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted, terminated, or modified Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q3 2023 - No directors or executive officers adopted, terminated, or modified a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during Q3 2023[368](index=368&type=chunk) [Item 6. Exhibits](index=81&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate documents and CEO/CFO certifications Signatures

Financial Performance - Total loans held for investment (LHFI) were $7.09 billion at June 30, 2023, an increase of $279.9 million, or 4.1%, compared to December 31, 2022[217]. - Total deposits reached $8.49 billion at June 30, 2023, reflecting an increase of $714.3 million, or 9.2%, compared to December 31, 2022[217]. - Net interest income was $75.3 million for the three months ended June 30, 2023, an increase of $15.8 million, or 26.5%, compared to the same period in 2022[222]. - Net income increased by $449,000, or 2.1%, to $21.8 million for the three months ended June 30, 2023, compared to $21.3 million for the same period in 2022[221]. - Total assets reached $10,190,356 thousand as of June 30, 2023, compared to $7,944,720 thousand a year earlier, reflecting a growth of 28.3%[229]. - Net interest income for the six months ended June 30, 2023, was $152.4 million, an increase of $40.4 million, or 36.1%, compared to the same period in 2022[248]. - Noninterest income increased by $1.9 million, or 6.3%, to $32.0 million for the six months ended June 30, 2023, compared to $30.1 million for the same period in 2022[264]. Interest Rates and Margins - The net interest margin (NIM) was 3.16% for the three months ended June 30, 2023, a decrease of seven basis points from 3.23% for the same period in 2022[226]. - The yield on interest-earning assets increased to 5.50%, a 197 basis point increase from 3.53% for the three months ended June 30, 2022[226]. - The rate paid on total deposits increased to 2.26%, a 207 basis point increase from 0.19% for the same period in 2022[226]. - The fully tax-equivalent net interest margin was 3.29% for the six months ended June 30, 2023, a 25 basis point increase from 3.04% for the same period in 2022[253]. - The average annualized rate paid on interest-bearing deposits increased to 2.78% for the six months ended June 30, 2023, compared to 0.27% for the same period in 2022[314]. Loan and Credit Quality - The provision for credit losses increased to $4.3 million in Q2 2023, up from $3.5 million in Q2 2022, marking a rise of 24.4%[234]. - Nonperforming loans increased by $31.2 million, with the allowance for loan credit losses to nonperforming loans at 280.74% as of June 30, 2023, down from 448.16% a year earlier[234]. - Nonperforming loans increased by $23.7 million to $33.6 million as of June 30, 2023, with significant increases in commercial and industrial loans and residential real estate loans[290]. - The ratio of nonperforming LHFI to total LHFI rose to 0.44% from 0.14% at the end of 2022, indicating a deterioration in loan performance[290]. - The total charge-offs for the six months ended June 30, 2023, were $5.04 million, compared to $4.59 million for the same period in 2022[302]. Expenses and Employee Costs - Noninterest expense for the three months ended June 30, 2023, increased by $14.7 million, or 33.4%, to $58.9 million compared to $44.2 million for the same period in 2022[242]. - Salaries and employee benefits rose by $7.2 million, primarily due to an increase in full-time equivalent employees from 841 to 1,017, with the BTH merger contributing 94 employees[243]. - Total noninterest expense increased by $28.7 million, or 33.0%, to $115.6 million for the six months ended June 30, 2023, compared to $86.9 million for the same period in 2022[270]. Mergers and Acquisitions - Total noninterest income rose to $15,636 thousand in Q2 2023, a 10.0% increase from $14,216 thousand in Q2 2022, primarily due to the merger with BTH[237]. - The BTH merger contributed $1.3 million in incentive compensation and 94 new full-time positions, impacting salaries and employee benefits expenses significantly[273]. - Intangible asset amortization expense rose by $2.0 million, primarily due to the core deposit intangible established with the BTH merger[245]. Liquidity and Capital - The common equity Tier 1 capital ratio was 11.01% as of June 30, 2023, compared to 10.93% at December 31, 2022[217]. - The company borrowed approximately $700.0 million to hold excess cash for contingency liquidity during the quarter ended June 30, 2023[220]. - The loan to deposit ratio was 89.8% at June 30, 2023, compared to 91.2% at December 31, 2022[330]. - The Company declared dividends of $0.30 per share, totaling $9.4 million for the period[333]. Economic and Market Conditions - Economic conditions are currently affected by record inflation and recessionary concerns, which have slowed the single-family housing market and impacted economic growth[349]. - Inflation has increased costs for goods, services, salaries, and occupancy, adversely affecting liquidity, earnings, and stockholders' equity[353]. Interest Rate Risk Management - The company’s interest rate risk management includes simulation models that estimate the impact of interest rate changes on net interest income and fair value of equity[344]. - The company has entered into interest rate swaps to mitigate interest rate risk in specific transactions, although it is not a regular practice[341]. - The Asset-Liability Management Committee regularly reviews the sensitivity of assets and liabilities to interest rate changes and adjusts strategies accordingly[342].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to __________ Commission file number 001-38487 Origin Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisd ...

Financial Performance - Net income for the year ended December 31, 2022, was $87.7 million, a decrease of 19.2% compared to $108.5 million in 2021[268]. - The return on average assets (ROAA) for 2022 was 1.01%, down from 1.45% in 2021, while the return on average equity (ROAE) decreased to 10.81% from 15.79%[268]. - Noninterest income decreased by $4.9 million, or 7.9%, to $57.3 million for the year ended December 31, 2022, driven by declines in mortgage banking revenue, limited partnership investment income, and other noninterest income[289]. - The company reported a comprehensive loss income of $(77.889) million for 2022, compared to a comprehensive income of $88.626 million in 2021[433]. - Basic earnings per common share decreased to $3.29 in 2022 from $4.63 in 2021, reflecting a decline of 29%[431]. Interest Income and Margin - Net interest income for 2022 was $275.3 million, an increase of $59.0 million compared to 2021, driven by increases in interest rates and average interest-earning assets[270]. - The fully tax-equivalent net interest margin (NIM) for 2022 was 3.42%, a 32 basis point increase from 3.10% in 2021[275]. - The net interest margin improved to 3.39% in 2022, compared to 3.06% in 2021[280]. - The company reported a net interest spread of 3.05% for 2022, up from 2.88% in 2021[278]. - Interest income from loans held for investment (LHFI) increased by $68.6 million in 2022, with commercial real estate and commercial and industrial loans contributing $26.4 million and $23.4 million, respectively[272]. Assets and Loans - Total assets increased to $8,686,231 thousand in 2022, up from $7,470,927 thousand in 2021, representing a growth of 16.3%[278]. - Loans receivable reached $5,952,737 thousand in 2022, up from $5,412,893 thousand in 2021, reflecting an increase of 10%[278]. - The loan portfolio grew to $7.09 billion at December 31, 2022, an increase of $1.86 billion, or 35.5%, with organic growth contributing $619.2 million[313]. - Total LHFI, excluding mortgage warehouse lines of credit, increased by $2.20 billion, or 47.8%, compared to December 31, 2021[313]. - The loan portfolio composition at December 31, 2022, included 78.8% in commercial and industrial loans, down from 82.3% in 2021[311]. Deposits and Liabilities - Total deposits rose by $1.21 billion to $7.78 billion at December 31, 2022, with $1.57 billion attributed to the BTH merger[309]. - Noninterest-bearing deposits grew to $2,422,132 thousand in 2022, compared to $1,905,045 thousand in 2021, indicating a growth of 27.1%[278]. - Total interest-bearing liabilities increased to $5,303,632 thousand in 2022, compared to $4,742,835 thousand in 2021, marking a rise of 11.8%[278]. - The estimated total amount of uninsured deposits increased to $4.19 billion at December 31, 2022, from $3.79 billion in 2021[356]. - Average deposit balance for the year ended December 31, 2022, was $7.105 billion, an increase of $951.8 million, or 15.5%, from $6.153 billion in 2021[353]. Expenses and Provisions - Total noninterest expense rose by $43.6 million, or 27.8%, to $200.4 million, primarily due to increases in salaries and employee benefits, merger-related expenses, and intangible asset amortization[299]. - The provision for credit loss expense increased by $35.5 million to $24.7 million for the year ended December 31, 2022, primarily due to the merger with BTH, which accounted for a $14.9 million provision for loan credit losses[285]. - The allowance for loan credit losses increased by $22.6 million, or 35.0%, to $87.2 million at December 31, 2022, from $64.6 million at December 31, 2021[334]. - The provision for loan credit losses was $21.6 million for the year ended December 31, 2022, compared to a negative provision of $10.8 million in 2021[336]. - Total noninterest expense increased to $200,419 thousand in 2022, compared to $156,779 thousand in 2021, an increase of 27.8%[430]. Mergers and Acquisitions - The merger with BTH resulted in the acquisition of $1.24 billion in loans and $1.57 billion in deposits, significantly impacting net interest income and interest expense categories[269]. - The company recognized goodwill of approximately $94.5 million from the acquisition of BT Holdings, Inc. and its subsidiary on August 1, 2022[418]. - Total assets acquired in the BTH merger amounted to $1,846,598, while total liabilities assumed were $1,633,340[441]. - The company assumed BTH deposits totaling $1.57 billion during the merger on August 1, 2022[349]. - The company recorded a $23.9 million allowance for BTH loans at December 31, 2022[334]. Capital and Regulatory Compliance - Stockholders' equity increased by $219.7 million to $949.9 million at December 31, 2022, driven by $306.3 million related to the BTH merger and $87.7 million in net income[310]. - The company was in compliance with all applicable regulatory capital requirements as of December 31, 2022, and was classified as "well capitalized" by the Federal Reserve[384]. - Common equity Tier 1 capital to risk-weighted assets increased to $906.9 million (10.93%) as of December 31, 2022, compared to $681.0 million (11.20%) in 2021[386]. - Total capital to risk-weighted assets decreased to $1.18 billion (14.23%) in 2022 from $897.5 million (14.77%) in 2021[386]. - The company completed an offering of $70.0 million in aggregate principal amount of 4.25% fixed-to-floating rate subordinated notes due 2030, qualifying as Tier 2 capital[365]. Economic Conditions and Risk Management - Economic conditions are currently affected by record inflation and recessionary concerns, impacting growth prospects and borrower performance[396]. - The Federal Reserve increased the federal funds target rate range seven times during 2022, from 25 to 450 basis points, impacting the company's comprehensive loss[398]. - The company manages interest rate risk through a committee that reviews asset and liability sensitivity to interest rate changes regularly[390]. - The company has entered into interest rate swaps to mitigate interest rate risk in limited circumstances[389]. - Interest rate sensitivity analysis indicates that a 400 basis point increase in interest rates could lead to a 14.2% increase in net interest income[395].

Origin Bancorp, Inc. (OBNK) Q4 2022 Earnings Conference Call January 26, 2023 9:00 AM ET Company Participants Chris Reigelman - IR Drake Mills - Chairman, President and CEO Lance Hall - President and CEO, Origin Bank Jim Crotwell - Chief Risk Officer Wally Wallace - Chief Financial Officer Conference Call Participants Matt Olney - Stephens Michael Rose - Raymond James Brad Milsaps - Piper Sandler Woody Lay - KBW Operator Good day, and welcome to the Origin Bancorp Fourth Quarter and Full Year 2022 Earnings ...