Origin Bancorp, Inc. (NYSE:OBK) Q4 2023 Earnings Conference Call January 25, 2024 9:00 AM ET Company Participants Chris Reigelman - Director, IR Drake Mills - Chairman, President and CEO Lance Hall - President and CEO, Origin Bank Jim Crotwell - Chief Risk Officer Wally Wallace - CFO Conference Call Participants Matt Olney - Stephens Brady Gailey - KBW Graeme Smethurst - Piper Sandler Operator Good morning, and welcome to the Origin Bancorp, Inc. Fourth Quarter Earnings Conference Call. My name is David, an ...

FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES ORIGIN BANCORP, INC. _______ | --- | --- | --- | |-------|-------|--------| | | | | | | | • | | | | • year | | | | | ERMINALS VOTED A BEST BANK IN AMERICA Origin not only talks about corporate culture, but measures it through confidential, third-party surveys. l 5 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------|-------------------------------------------------------------------------|-------|---------- ...

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 September 30, 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 ju ...

Origin Bancorp, Inc. (NYSE:OBK) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Chris Reigelman - Director, IR Drake Mills - Chairman, President and CEO Lance Hall - President and CEO, Origin Bank Jim Crotwell - Chief Risk Officer Wally Wallace - CFO Conference Call Participants Matt Olney - Stephens Michael Rose - Raymond James Kevin Fitzsimmons - D.A. Davidson Graeme Smethurst - Piper Sandler Operator Good morning and welcome to the Origin Bancorp, Inc Third Quarter Earni ...

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 ...

Origin Bancorp, Inc. (OBNK) Q1 2023 Earnings Conference Call April 27, 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 - CFO Conference Call Participants Matt Olney - Stephens, Inc. Michael Rose - Raymond James Brad Milsaps - Piper Sandler Brady Gailey - KBW Kevin Fitzsimmons - D.A. Davidson Operator Good morning, and welcome to the Origin Bancorp, Inc. First Quarte ...

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 ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission file number 001-38487 Origin Bancorp, Inc. Common Stock, par value $5.00 per share OBNK Nasdaq Global Select Market OR Title of Each Class Trading Symbol(s) Name of Exchange on which registered ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...