Financial Performance - Net income decreased by $10.0 million, or 53.6%, to $8.6 million for Q3 2025 compared to $18.6 million for Q3 2024[244] - Net income for the nine months ended September 30, 2025, decreased by $16.5 million, or 26.6%, to $45.7 million from $62.2 million for the same period in 2024[272] - Noninterest income surged by $10.1 million, or 63.4%, to $26.1 million for the three months ended September 30, 2025, compared to $16.0 million in 2024[1] - Noninterest income decreased by $12.6 million, or 22.6%, to $43.1 million, primarily due to a $14.3 million increase in loss on sales of securities[4] Interest Income and Expenses - Net interest income for Q3 2025 was $83.7 million, an increase of $8.9 million, or 11.9%, compared to Q3 2024[245] - Net interest income increased to $83.7 million for the three months ended September 30, 2025, compared to $74.8 million for the same period in 2024, reflecting a margin increase from 3.16% to 3.62%[1] - Interest expense on total interest-bearing deposits decreased by $16.0 million, with $12.0 million of the decrease attributable to lower interest rates in Q3 2025 compared to Q3 2024[246] - Interest expense on total interest-bearing deposits decreased by $42.4 million, with a significant portion attributed to lower interest rates[274] - The average rate on interest-bearing deposits declined by 81 basis points to 3.20% for Q3 2025 from 4.01% for Q3 2024[246] - The average rate paid on interest-bearing deposits decreased to 3.21% for the nine months ended September 30, 2025, from 3.94% in the same period of 2024[341] Credit Losses and Provisions - Provision for credit losses was $36.8 million for Q3 2025, reflecting an increase of $32.2 million compared to Q3 2024 due to suspected fraud[247] - Provision for credit losses rose significantly to $36.8 million for the three months ended September 30, 2025, up from $4.6 million in the same period of 2024, primarily due to suspected borrower fraud[1][2] - The company reported a $30.3 million increase in provision expense to $43.1 million for the nine months ended September 30, 2025, primarily due to suspected fraud[272] - Net charge-offs increased to $31.4 million for the three months ended September 30, 2025, from $9.5 million in the same period of 2024, largely due to fraud-related losses[1] - Net charge-offs rose by $21.4 million to $36.4 million, with a significant portion attributed to suspected borrower fraud impacting a specific loan relationship[3] Assets and Liabilities - Total assets decreased to $9,727.4 million as of September 30, 2025, from $9,985.8 million a year earlier[1] - Total assets increased by $112.6 million, or 1.2%, to $9.79 billion, with cash and cash equivalents rising by $156.7 million, or 33.3%[6] - Total liabilities increased by $43.1 million, or 0.5%, to $8.58 billion at September 30, 2025, from $8.53 billion at December 31, 2024[300] - Total deposits were $8.33 billion at September 30, 2025, an increase of $108.7 million, or 1.3%, compared to December 31, 2024[247] - Total deposits increased by $108.7 million, or 1.3%, to $8.33 billion as of September 30, 2025, compared to $8.22 billion at December 31, 2024[337] Equity and Capital - Stockholders' equity increased to $1.21 billion at September 30, 2025, from $1.15 billion at January 1, 2025, driven by net income of $45.7 million[360] - Common equity Tier 1 capital ratio for Origin Bancorp, Inc. increased to 13.59% as of September 30, 2025, up from 13.32% on December 31, 2024[363] - Total capital ratio for Origin Bancorp, Inc. decreased to 15.90% as of September 30, 2025, compared to 16.44% on December 31, 2024[363] - The company repurchased 265,248 shares of common stock in Q3 2025 at an average price of $35.85, totaling $9.5 million[364] - Year-to-date 2025 stock repurchases reached 401,647 shares at an average price of $34.59, amounting to $13.9 million[364] Market and Economic Conditions - The Federal Reserve reduced the federal funds target rate range by 25 basis points on September 17, 2025, and October 29, 2025, totaling a 150 basis points decrease from mid-2023[249] - Inflation impacts the company primarily through increased costs of goods, services, and salaries, affecting liquidity and earnings[380] - Interest rate sensitivity analysis indicates a 15.7% increase in net interest income with a +400 basis point change in interest rates[377] - The company’s interest rate risk management includes simulation models to assess the impact of interest rate changes on net interest income and fair value of equity[373]

Group 1 - The article does not provide any specific information or data regarding companies or industries [1]

Exhibit 99.1 For Immediate Release ORIGIN BANCORP, INC. REPORTS EARNINGS FOR THIRD QUARTER 2025 RUSTON, Louisiana (October 22, 2025) - Origin Bancorp, Inc. (NYSE: OBK) ("Origin," "we," "our" or the "Company"), the holding company for Origin Bank (the "Bank"), today announced net income of $8.6 million, or $0.27 diluted earnings per share ("EPS") for the quarter ended September 30, 2025, compared to net income of $14.6 million, or $0.47 diluted earnings per share, for the quarter ended June 30, 2025. Pre-tax ...

Core Insights - Tricolor, a subprime auto lender, filed for Chapter 7 bankruptcy, impacting various financial institutions including Origin Bancorp and JPMorgan Chase [1][2][5] - The bankruptcy is attributed to alleged fraud, with significant losses reported by creditors [5][16] Group 1: Financial Impact on Institutions - Origin Bancorp moved $30.1 million of loans to non-accrual status due to Tricolor's liquidation, despite the loans currently performing [2] - Renasant Bank placed $22.5 million in non-accrual status, also connected to Tricolor, while assessing collateral [3] - Fifth Third Bancorp reported a $200 million credit loss linked to Tricolor, attributing it to "significant fraud" [5] Group 2: Tricolor's Business Model and Operations - Tricolor operated as both an auto lender and dealer, a less common practice, with dealerships primarily in Texas [13] - The company targeted undocumented Hispanic immigrants, accepting individual taxpayer identification numbers to broaden its borrower base [10] - The dual role of lending and selling vehicles can mitigate losses but poses risks if the retail arm underperforms [14][15] Group 3: Legal and Investigative Developments - The FBI is investigating the situation surrounding Tricolor's bankruptcy [6][9] - Tricolor's bankruptcy petition was filed by Sidley Austin, which was initially engaged to negotiate with lenders [6][7] - The company listed assets and liabilities in the range of $1 billion to $10 billion, with 25,000 to 50,000 creditors [16]

[FORM 10-Q Filing Information](index=1&type=section&id=FORM%2010-Q) This report is a Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed by Origin Bancorp, Inc. (OBK) - This is a Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed by **Origin Bancorp, Inc. (OBK)** on the New York Stock Exchange[2](index=2&type=chunk)[3](index=3&type=chunk) - As of July 31, 2025, **31,224,718 shares** of Common Stock, par value $5.00 per share, were issued and outstanding[3](index=3&type=chunk) [Index](index=2&type=section&id=INDEX) This section provides a navigational index to the various parts and items within the Form 10-Q report [Cautionary Note Regarding Forward-Looking Statements](index=3&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section warns that the report contains forward-looking statements subject to risks and uncertainties - The report contains forward-looking statements that are not guarantees of future performance and are subject to difficult-to-predict risks, assumptions, and uncertainties[6](index=6&type=chunk) - Key factors that could cause actual results to differ materially include **economic uncertainty**, **technological change**, **adverse banking industry developments**, **fluctuating interest rates**, and **regulatory changes**[7](index=7&type=chunk)[8](index=8&type=chunk)[10](index=10&type=chunk) [PART I - FINANCIAL INFORMATION](index=6&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This part presents the unaudited consolidated financial statements and management's discussion and analysis for the company [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements for the quarter ended June 30, 2025 [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and stockholders' equity at specific points in time | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :-------------------------------- | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Total assets | $9,678,158 | $9,678,702 | $(544) | (0.01)% | | Total liabilities | $8,472,389 | $8,533,457 | $(61,068) | (0.72)% | | Total stockholders' equity | $1,205,769 | $1,145,245 | $60,524 | 5.28% | | Cash and cash equivalents | $334,111 | $470,249 | $(136,138) | (28.95)% | | Loans, net | $7,592,020 | $7,482,653 | $109,367 | 1.46% | | Total deposits | $8,123,036 | $8,223,120 | $(100,084) | (1.22)% | | Subordinated indebtedness, net | $89,657 | $159,943 | $(70,286) | (43.94)% | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) This statement reports the company's revenues, expenses, and net income over specific periods, reflecting profitability | Metric | 3 Months Ended June 30, 2025 (in thousands) | 3 Months Ended June 30, 2024 (in thousands) | Change (in thousands) | % Change | | :-------------------------------- | :------------------------------------ | :------------------------------------ | :-------------------- | :------- | | Total interest and dividend income | $134,637 | $141,794 | $(7,157) | (5.05)% | | Total interest expense | $52,501 | $67,904 | $(15,403) | (22.68)% | | Net interest income | $82,136 | $73,890 | $8,246 | 11.16% | | Provision for credit losses | $2,862 | $5,231 | $(2,369) | (45.29)% | | Total noninterest income | $1,368 | $22,465 | $(21,097) | (93.91)% | | Total noninterest expense | $61,983 | $64,388 | $(2,405) | (3.73)% | | Net income | $14,647 | $20,989 | $(6,342) | (30.22)% | | Basic EPS | $0.47 | $0.68 | $(0.21) | (30.88)% | | Diluted EPS | $0.47 | $0.67 | $(0.20) | (29.85)% | | Metric | 6 Months Ended June 30, 2025 (in thousands) | 6 Months Ended June 30, 2024 (in thousands) | Change (in thousands) | % Change | | :-------------------------------- | :------------------------------------ | :------------------------------------ | :-------------------- | :------- | | Total interest and dividend income | $267,180 | $280,495 | $(13,315) | (4.75)% | | Total interest expense | $106,585 | $133,282 | $(26,697) | (20.03)% | | Net interest income | $160,595 | $147,213 | $13,382 | 9.09% | | Provision for credit losses | $6,306 | $8,243 | $(1,937) | (23.49)% | | Total noninterest income | $16,970 | $39,720 | $(22,750) | (57.27)% | | Total noninterest expense | $124,051 | $123,095 | $956 | 0.78% | | Net income | $37,058 | $43,621 | $(6,563) | (15.05)% | | Basic EPS | $1.19 | $1.41 | $(0.22) | (15.60)% | | Diluted EPS | $1.18 | $1.40 | $(0.22) | (15.71)% | [Consolidated Statements of Comprehensive Income](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) This statement presents net income and other comprehensive income items, reflecting the total change in equity from non-owner sources | Metric | 3 Months Ended June 30, 2025 (in thousands) | 3 Months Ended June 30, 2024 (in thousands) | Change (in thousands) | | :------------------------------------ | :------------------------------------ | :------------------------------------ | :-------------------- | | Net income | $14,647 | $20,989 | $(6,342) | | Other comprehensive income (loss), net of tax | $16,850 | $(2,275) | $19,125 | | Comprehensive income | $31,497 | $18,714 | $12,783 | | Metric | 6 Months Ended June 30, 2025 (in thousands) | 6 Months Ended June 30, 2024 (in thousands) | Change (in thousands) | | :------------------------------------ | :------------------------------------ | :------------------------------------ | :-------------------- | | Net income | $37,058 | $43,621 | $(6,563) | | Other comprehensive income (loss), net of tax | $32,468 | $(6,161) | $38,629 | | Comprehensive income | $69,526 | $37,460 | $32,066 | [Consolidated Statements of Changes in Stockholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) This statement details changes in stockholders' equity, including net income, dividends, and stock transactions | Metric | January 1, 2025 (in thousands) | June 30, 2025 (in thousands) | Change (in thousands) | % Change | | :----------------------------- | :----------------------------- | :--------------------------- | :-------------------- | :------- | | Total Stockholders' Equity | $1,145,245 | $1,205,769 | $60,524 | 5.28% | | Net income | N/A | $37,058 | N/A | N/A | | Other comprehensive income, net of tax | N/A | $32,468 | N/A | N/A | | Dividends declared - common stock | N/A | $(9,522) | N/A | N/A | | Repurchase of common stock | N/A | $(4,382) | N/A | N/A | [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This statement reports cash inflows and outflows from operating, investing, and financing activities over specific periods | Metric | 6 Months Ended June 30, 2025 (in thousands) | 6 Months Ended June 30, 2024 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :------------------------------------ | :------------------------------------ | :-------------------- | :------- | | Net cash provided by operating activities | $56,194 | $39,029 | $17,165 | 43.98% | | Net cash used in investing activities | $(121,711) | $(204,479) | $82,768 | (40.48)% | | Net cash (used by) provided by financing activities | $(70,621) | $173,059 | $(243,680) | (140.81)% | | Net increase in cash and cash equivalents | $(136,138) | $7,609 | $(143,747) | (1889.21)% | | Cash and cash equivalents at end of period | $334,111 | $288,050 | $46,061 | 15.99% | [Condensed Notes to Consolidated Financial Statements](index=14&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) These notes provide additional information and explanations for the amounts presented in the consolidated financial statements [Note 1 — Significant Accounting Policies](index=14&type=section&id=Note%201%20%E2%80%94%20Significant%20Accounting%20Policies) This note outlines the company's nature of operations, basis of presentation, operating segments, and impact of accounting standards - **Origin Bancorp, Inc.** is a financial holding company operating through its wholly-owned subsidiary, **Origin Bank**, providing personalized banking services across multiple states[34](index=34&type=chunk)[223](index=223&type=chunk) - The company's senior executive management evaluates financial performance on a Company-wide basis, aggregating all community banking services into one reportable operating segment[38](index=38&type=chunk) - Implementation of **ASU No. 2023-02** and **ASU No. 2023-07** did not materially impact the Company's financial statements or disclosures[43](index=43&type=chunk)[44](index=44&type=chunk) - The Company is evaluating the impact of newly issued **ASU No. 2023-09** and **ASU No. 2024-03** on its consolidated financial statements and disclosures[45](index=45&type=chunk)[48](index=48&type=chunk) [Note 2 — Earnings Per Share](index=16&type=section&id=Note%202%20%E2%80%94%20Earnings%20Per%20Share) This note details the calculation of basic and diluted earnings per common share, including weighted average shares and dilutive effects | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :------------------------------------ | :----------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | | Net income (in thousands) | $14,647 | $20,989 | $37,058 | $43,621 | | Basic earnings per common share | $0.47 | $0.68 | $1.19 | $1.41 | | Diluted earnings per common share | $0.47 | $0.67 | $1.18 | $1.40 | | Weighted average common shares outstanding | 31,192,622 | 31,042,527 | 31,199,151 | 31,011,930 | | Dilutive effect of stock-based awards | 135,196 | 89,302 | 176,653 | 98,817 | - Anti-dilutive stock-based awards, primarily due to exercise/grant price exceeding the average market price, excluded from EPS calculation were **303,140 shares** for the three months and **186,446 shares** for the six months ended June 30, 2025[49](index=49&type=chunk) [Note 3 — Securities](index=17&type=section&id=Note%203%20%E2%80%94%20Securities) This note summarizes the amortized cost, fair value, and unrealized gains/losses for available-for-sale and held-to-maturity securities | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Total securities available for sale (Fair Value) | $1,126,721 | $1,102,528 | $24,193 | 2.19% | | Total securities held to maturity (Carrying Amount) | $11,093 | $11,095 | $(2) | (0.02)% | | Total securities carried at fair value through income | $6,218 | $6,512 | $(294) | (4.51)% | | Gross unrealized losses (AFS) | $(97,226) | $(135,591) | $38,365 | (28.29)% | - At June 30, 2025, the Company had **426 individual securities** in an unrealized loss position, primarily due to noncredit-related factors like interest rate changes, with no intent to sell before recovery[57](index=57&type=chunk)[58](index=58&type=chunk) - Proceeds from sales and calls of available-for-sale securities for the six months ended June 30, 2025, were **$214.98 million**, resulting in gross realized losses of **$14.45 million**[63](index=63&type=chunk) [Note 4 — Loans](index=20&type=section&id=Note%204%20%E2%80%94%20Loans) This note details the loan portfolio composition, credit quality indicators, allowance for credit losses, and loan modifications | Loan Category | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Loans held for sale | $8,878 | $10,494 | $(1,616) | (15.40)% | | Commercial real estate | $2,428,559 | $2,477,431 | $(48,872) | (1.97)% | | Construction/land/land development | $653,748 | $864,011 | $(210,263) | (24.34)% | | Residential real estate | $1,995,434 | $1,857,589 | $137,845 | 7.42% | | Commercial and industrial | $2,011,178 | $2,002,634 | $8,544 | 0.43% | | Mortgage warehouse lines of credit | $574,748 | $349,081 | $225,667 | 64.64% | | Consumer | $20,779 | $22,967 | $(2,188) | (9.53)% | | Total LHFI | $7,684,446 | $7,573,713 | $110,733 | 1.46% | | Allowance for loan credit losses (ALCL) | $92,426 | $91,060 | $1,366 | 1.50% | - Total LHFI increased by **$110.7 million (1.5%)** at June 30, 2025, driven by mortgage warehouse lines of credit and residential real estate loans, partially offset by decreases in construction/land/land development and commercial real estate loans[293](index=293&type=chunk) - Nonaccrual LHFI increased to **$85.3 million** at June 30, 2025, from **$75.0 million** at December 31, 2024, primarily due to six new loan relationships totaling **$17.3 million**[93](index=93&type=chunk)[306](index=306&type=chunk) - For the six months ended June 30, 2025, the provision for loan credit losses was **$6.39 million**, and net charge-offs were **$5.03 million**[88](index=88&type=chunk)[318](index=318&type=chunk) [Note 5 — Fair Value of Financial Instruments](index=33&type=section&id=Note%205%20%E2%80%94%20Fair%20Value%20of%20Financial%20Instruments) This note explains fair value measurement methodologies, including the three-level hierarchy, for assets and liabilities - The Company utilizes a **three-level hierarchy** for fair value measurements, with **Level 2 inputs** predominantly used for securities available for sale[127](index=127&type=chunk)[128](index=128&type=chunk) - Changes in **Level 3 assets** measured at fair value on a recurring basis for the six months ended June 30, 2025, included a **$50,000 loss** in AOCI for available-for-sale securities and a **$21,000 gain** in earnings for fair value through income securities[130](index=130&type=chunk) - The fair value option for loans held for sale was discontinued in Q1 2025, with all unsold loans funded in 2025 now valued at the **lower of cost or market**[139](index=139&type=chunk) - The net effect of investment income or loss and related compensation expense or benefit from Rabbi Trust assets has **no impact** on the Company's net income or cash balances[141](index=141&type=chunk) [Note 6 — Mortgage Banking](index=39&type=section&id=Note%206%20%E2%80%94%20Mortgage%20Banking) This note details mortgage banking revenue components and activity in Mortgage Servicing Rights (MSR) assets | Metric | 3 Months Ended June 30, 2025 (in thousands) | 3 Months Ended June 30, 2024 (in thousands) | 6 Months Ended June 30, 2025 (in thousands) | 6 Months Ended June 30, 2024 (in thousands) | | :------------------------------------ | :------------------------------------ | :------------------------------------ | :------------------------------------ | :------------------------------------ | | Mortgage banking revenue | $1,369 | $1,878 | $2,284 | $4,276 | | Gain on sale of loans held for sale | $1,503 | $1,337 | $2,463 | $2,301 | | MSR asset valuation adjustments, net | $0 | $0 | $0 | $450 | | Gain on sale of MSR asset | $0 | $0 | $0 | $410 | - The Company sold substantially all of its MSR asset, recording a **$410,000 gain** in the six months ended June 30, 2024, and no longer retains servicing on sold loans[152](index=152&type=chunk) - The reserve for mortgage loan putback expenses totaled **$104,000** at June 30, 2025, and **$103,000** at December 31, 2024[155](index=155&type=chunk) [Note 7 — Borrowings](index=40&type=section&id=Note%207%20%E2%80%94%20Borrowings) This note summarizes the company's borrowed funds, including FHLB advances, repurchase agreements, and subordinated indebtedness | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Short-term FHLB advances | $115,000 | $0 | $115,000 | N/A | | Long-term FHLB advances | $6,057 | $6,198 | $(141) | (2.27)% | | Overnight repurchase agreements | $6,786 | $6,262 | $524 | 8.37% | | Total FHLB advances and other borrowings | $127,843 | $12,460 | $115,383 | 926.03% | | Subordinated indebtedness, net | $89,657 | $159,943 | $(70,286) | (43.94)% | - **Origin Bank** redeemed **$70.0 million** in 4.25% fixed-to-floating rate subordinated notes on February 15, 2025, as part of its Optimize Origin initiative[156](index=156&type=chunk)[335](index=335&type=chunk) - The Company strategically manages liquidity by funding mortgage warehouse lines of credit with short-term FHLB advances, avoiding more expensive brokered deposits[334](index=334&type=chunk) [Note 8 — Derivative Financial Instruments](index=41&type=section&id=Note%208%20%E2%80%94%20Derivative%20Financial%20Instruments) This note describes the company's use of derivative financial instruments for risk management, including cash flow and fair value hedges - The Company uses interest rate swaps as **fair value hedges** to mitigate changes in the fair value of fixed-rate available-for-sale securities due to benchmark interest rate fluctuations[161](index=161&type=chunk) - During Q4 2024, the Company terminated cash flow swap agreements, locking in an after-tax gain of **$537,000** to be accreted into earnings[160](index=160&type=chunk) - Notional amounts of derivatives not designated as hedging instruments totaled **$981.3 million** at June 30, 2025, up from **$757.0 million** at December 31, 2024[172](index=172&type=chunk) - For the three months ended June 30, 2025, fair value hedging instruments resulted in a **$700,000 gain** in interest income on available-for-sale securities, offset by a **$700,000 loss** on interest rate swaps[176](index=176&type=chunk) [Note 9 — Stock and Incentive Compensation Plans](index=43&type=section&id=Note%209%20%E2%80%94%20Stock%20and%20Incentive%20Compensation%20Plans) This note details the company's stock and incentive compensation plans, including award activity for RSAs, RSUs, PSUs, and stock options - The **Omnibus Plan**, approved in April 2024, allows for the issuance of **675,000 shares**, with **330,259 shares** available for grant at June 30, 2025[179](index=179&type=chunk) - The **Employee Stock Purchase Plan (ESPP)** allows employees to purchase common stock at a **15% discount**, with **58,568 shares** purchased during the six months ended June 30, 2025[182](index=182&type=chunk)[183](index=183&type=chunk) - Total unrecognized compensation cost related to nonvested RSA, RSU, and PSU shares was **$439,000**, **$11.1 million**, and **$5.0 million**, respectively, at June 30, 2025[188](index=188&type=chunk) - Stock-based compensation expense charged to income for the six months ended June 30, 2025, was **$3.88 million**, up from **$3.77 million** in the prior year[192](index=192&type=chunk) [Note 10 — Accumulated Other Comprehensive (Loss) Income](index=47&type=section&id=Note%2010%20%E2%80%94%20Accumulated%20Other%20Comprehensive%20(Loss)%20Income) This note summarizes the components of Accumulated Other Comprehensive (Loss) Income (AOCI), primarily unrealized gains and losses | Metric | January 1, 2025 (in thousands) | June 30, 2025 (in thousands) | Change (in thousands) | | :------------------------------------ | :----------------------------- | :--------------------------- | :-------------------- | | Unrealized Loss on AFS Securities | $(106,535) | $(73,957) | $32,578 | | Unrealized Gain on Cash Flow Hedges | $506 | $396 | $(110) | | Total Accumulated Other Comprehensive Loss | $(106,029) | $(73,561) | $32,468 | - AOCI improved by **$32.47 million** during the six months ended June 30, 2025, primarily due to a **$32.58 million** reduction in unrealized losses on available-for-sale securities[198](index=198&type=chunk) [Note 11 — Capital and Regulatory Matters](index=47&type=section&id=Note%2011%20%E2%80%94%20Capital%20and%20Regulatory%20Matters) This note discusses the company's and the bank's compliance with regulatory capital requirements and the stock repurchase program - Both **Origin Bancorp, Inc.** and **Origin Bank** met all capital adequacy requirements and were categorized as 'well capitalized' at June 30, 2025, and December 31, 2024[201](index=201&type=chunk)[202](index=202&type=chunk)[350](index=350&type=chunk) | Ratio | Origin Bancorp, Inc. (Actual) | Origin Bank (Actual) | Minimum Required (Basel III) | Well Capitalized (Prompt Corrective Action) | | :------------------------------------ | :---------------------------- | :----------------------- | :--------------------------- | :------------------------------------------ | | Common Equity Tier 1 to Risk-Weighted Assets | 13.47% | 13.13% | 7.00% | 6.50% | | Tier 1 Capital to Risk-Weighted Assets | 13.67% | 13.13% | 8.50% | 8.00% | | Total Capital to Risk-Weighted Assets | 15.68% | 14.27% | 10.50% | 10.00% | | Leverage Ratio | 11.70% | 11.24% | 4.00% | 5.00% | - The Company repurchased **136,399 shares** of common stock for **$4.4 million** during Q2 2025, and a new **$50.0 million** stock repurchase program was approved in July 2025[207](index=207&type=chunk)[351](index=351&type=chunk) [Note 12 — Commitments and Contingencies](index=49&type=section&id=Note%2012%20%E2%80%94%20Commitments%20and%20Contingencies) This note discloses credit-related commitments and loss contingencies, including a specific issue involving questioned activity by a former banker | Commitment Type | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Commitments to extend credit | $1,889,215 | $1,671,603 | $217,612 | 13.02% | | Standby letters of credit | $217,844 | $234,260 | $(16,416) | (7.01)% | | Total off-balance sheet commitments | $2,107,059 | $1,905,863 | $201,196 | 10.56% | - The Company has a contingency reserve of **$2.8 million** at June 30, 2025, related to questioned activity by a former banker, which led to a **$4.1 million** provision for loan credit losses in 2024[216](index=216&type=chunk) - Management believes any ultimate loss from the questioned activity will not be material to the financial position, but acknowledges a reasonable possibility of additional unestimable loss[217](index=217&type=chunk) [Item 2. 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) This section analyzes the company's financial condition, results of operations, and key performance drivers for the periods presented [General](index=51&type=section&id=General) This subsection reaffirms Origin Bancorp, Inc. as a financial holding company and introduces key financial metrics - The Company's primary revenue sources are **interest earned on loans and investments**, and **service charges and fees** on deposit accounts[223](index=223&type=chunk) - **Net interest margin (NIM)** is net interest income divided by average interest-earning assets, and **net interest spread** is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities[224](index=224&type=chunk) [2025 Second Quarter Highlights](index=52&type=section&id=2025%20Second%20Quarter%20Highlights) This subsection summarizes key financial and operational achievements for the second quarter of 2025 - Net interest income increased by **$8.2 million (11.2%)** to **$82.1 million** for Q2 2025 compared to the prior year[230](index=230&type=chunk) - Fully tax equivalent net interest margin (**NIM-FTE**) increased **44 basis points** for Q2 2025, driven by a **73 basis point reduction** in rates paid on interest-bearing liabilities[230](index=230&type=chunk) - A bond portfolio optimization strategy resulted in a **$14.4 million loss** on securities sales but is estimated to increase annual net interest income by **$5.6 million** and contribute **six basis points** to NIM-FTE over twelve months[230](index=230&type=chunk)[234](index=234&type=chunk) - Total loans held for investment (**LHFI**) increased by **$110.7 million (1.5%)** to **$7.68 billion** at June 30, 2025, compared to December 31, 2024[230](index=230&type=chunk) - Book value per common share increased by **$1.91 (5.2%)** to **$38.62** at June 30, 2025, compared to December 31, 2024[230](index=230&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) This section analyzes the company's net income, net interest income, provision for credit losses, noninterest income, and noninterest expense [Net Interest Income and Net Interest Margin (Three Months)](index=52&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin%20(Three%20Months)) This subsection analyzes changes in net interest income and net interest margin for the three months ended June 30, 2025 - Net interest income increased by **$8.2 million (11.2%)** to **$82.1 million** for Q2 2025, primarily due to a **$15.4 million decrease** in interest expense, partially offset by a **$7.2 million decrease** in total interest income[228](index=228&type=chunk) - Interest expense on interest-bearing deposits decreased by **$15.3 million**, with **$10.6 million** from lower interest rates (average rate declined **75 bps to 3.20%**) and **$4.7 million** from lower average balances[229](index=229&type=chunk) - Interest income earned on LHFI decreased by **$8.6 million**, with **$4.8 million** due to lower average LHFI balances and **$3.8 million** due to lower yields[231](index=231&type=chunk) - The fully tax equivalent net interest margin (**NIM-FTE**) increased **44 basis points** to **3.61%** for Q2 2025, driven by a **73-basis-point decline** in the average cost of total interest-bearing liabilities, exceeding the **17-basis-point decline** in yield on interest-earning assets[233](index=233&type=chunk) [Rate/Volume Analysis (Three Months)](index=55&type=section&id=Rate%2FVolume%20Analysis%20(Three%20Months)) This subsection breaks down changes in interest income and expense, attributing them to volume or rate changes for the three months ended June 30, 2025 | Category | Volume Change (in thousands) | Yield/Rate Change (in thousands) | Total Change (in thousands) | | :------------------------------------------------- | :--------------------------- | :------------------------------- | :-------------------------- | | Total interest-earning assets | $(4,470) | $(2,687) | $(7,157) | | Total interest-bearing liabilities | $(4,734) | $(10,669) | $(15,403) | | Net interest income | $264 | $7,982 | $8,246 | [Provision for Credit Losses (Three Months)](index=55&type=section&id=Provision%20for%20Credit%20Losses%20(Three%20Months)) This subsection discusses the decrease in total provision expense for the three months ended June 30, 2025, and changes in net charge-offs - Total provision expense decreased by **$2.4 million** to **$2.9 million** for the three months ended June 30, 2025, primarily due to a **$2.7 million decrease** in loan credit loss provision[242](index=242&type=chunk) - Net charge-offs decreased by **$646,000** to **$2.3 million** for the three months ended June 30, 2025[243](index=243&type=chunk) - The allowance for loan credit losses (**ALCL**) to nonperforming LHFI was **108.33%** at June 30, 2025, compared to **133.05%** at June 30, 2024, primarily driven by a **$9.5 million increase** in nonperforming LHFI[243](index=243&type=chunk) [Noninterest Income (Three Months)](index=56&type=section&id=Noninterest%20Income%20(Three%20Months)) This subsection explains the significant decrease in noninterest income for the three months ended June 30, 2025 - Total noninterest income decreased by **$21.1 million (93.9%)** to **$1.4 million** for the three months ended June 30, 2025[246](index=246&type=chunk) - This decrease was primarily due to a **$14.4 million loss** on sales of securities, a **$5.2 million decrease** in fair value of equity investments, and a **$2.0 million decrease** in limited partnership investment income[246](index=246&type=chunk)[247](index=247&type=chunk)[248](index=248&type=chunk)[249](index=249&type=chunk) - Swap fee income increased by **$1.4 million**, driven by an attractive interest rate environment and increased focus on customer swaps as part of the Optimize Origin initiative[251](index=251&type=chunk) [Noninterest Expense (Three Months)](index=57&type=section&id=Noninterest%20Expense%20(Three%20Months)) This subsection details the decrease in noninterest expense for the three months ended June 30, 2025 - Total noninterest expense decreased by **$2.4 million (3.7%)** to **$62.0 million** for the three months ended June 30, 2025[252](index=252&type=chunk) - Key drivers of the decrease include a **$1.5 million reduction** in other expense, a **$497,000 decrease** in regulatory assessments, and a **$408,000 decrease** in loan-related expenses[252](index=252&type=chunk)[253](index=253&type=chunk)[254](index=254&type=chunk)[255](index=255&type=chunk) [Comparison of Results of Operations (Six Months)](index=57&type=section&id=Comparison%20of%20Results%20of%20Operations%20(Six%20Months)) This subsection provides an overview of the company's net income performance for the six months ended June 30, 2025 - Net income decreased by **$6.6 million (15.0%)** to **$37.1 million** for the six months ended June 30, 2025[256](index=256&type=chunk) - Diluted EPS decreased to **$1.18 per share** for the six months ended June 30, 2025, from **$1.40 per share** in the prior year[256](index=256&type=chunk) [Net Interest Income and Net Interest Margin (Six Months)](index=57&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin%20(Six%20Months)) This subsection analyzes changes in net interest income and net interest margin for the six months ended June 30, 2025 - Net interest income increased by **$13.4 million (9.1%)** to **$160.6 million** for the six months ended June 30, 2025[257](index=257&type=chunk) - This increase was primarily driven by a **$26.4 million decrease** in interest expense on interest-bearing deposits and increases in interest income from investment securities (**$2.9 million**) and interest-earning deposits in banks (**$2.3 million**)[257](index=257&type=chunk)[258](index=258&type=chunk)[259](index=259&type=chunk)[260](index=260&type=chunk) - Interest income earned on LHFI decreased by **$18.6 million**, due to lower average balances (**$10.6 million**) and lower market interest rates (**$8.1 million**)[261](index=261&type=chunk) - The fully tax equivalent net interest margin (**NIM-FTE**) increased **34 basis points** to **3.52%** for the six months ended June 30, 2025, as the **66-basis-point decline** in average rate on interest-bearing liabilities exceeded the **18-basis-point decline** in yield on interest-earning assets[262](index=262&type=chunk) [Rate/Volume Analysis (Six Months)](index=60&type=section&id=Rate%2FVolume%20Analysis%20(Six%20Months)) This subsection presents a rate/volume analysis for the six months ended June 30, 2025, showing the impact on interest income and expense | Category | Volume Change (in thousands) | Yield/Rate Change (in thousands) | Total Change (in thousands) | | :------------------------------------------------- | :--------------------------- | :------------------------------- | :-------------------------- | | Total interest-earning assets | $(6,599) | $(6,716) | $(13,315) | | Total interest-bearing liabilities | $(7,097) | $(19,600) | $(26,697) | | Net interest income | $498 | $12,884 | $13,382 | [Provision for Credit Losses (Six Months)](index=60&type=section&id=Provision%20for%20Credit%20Losses%20(Six%20Months)) This subsection discusses the decrease in provision expense for the six months ended June 30, 2025, and changes in net charge-offs - Total provision expense decreased by **$1.9 million** to **$6.3 million** for the six months ended June 30, 2025, driven by a **$3.1 million decrease** in loan credit loss provision, partially offset by a **$1.2 million increase** in the provision for off-balance sheet commitments[269](index=269&type=chunk) - Net charge-offs decreased by **$500,000** to **$5.0 million** for the six months ended June 30, 2025, primarily due to a **$1.2 million decline** in net charge-offs in the commercial and industrial loans portfolio[270](index=270&type=chunk) [Noninterest Income (Six Months)](index=61&type=section&id=Noninterest%20Income%20(Six%20Months)) This subsection explains the significant decrease in noninterest income for the six months ended June 30, 2025 - Total noninterest income decreased by **$22.8 million (57.3%)** to **$17.0 million** for the six months ended June 30, 2025[273](index=273&type=chunk) - Major contributors to the decrease include a **$14.0 million increase** in loss on sales of securities, a **$5.2 million decrease** in fair value of equity investments, a **$3.8 million decrease** in limited partnership investment gain, and a **$2.0 million decrease** in mortgage banking revenue[274](index=274&type=chunk)[275](index=275&type=chunk)[276](index=276&type=chunk)[277](index=277&type=chunk) - Swap fee income increased by **$1.9 million**, driven by an attractive interest rate environment and increased focus on customer swaps as part of the Optimize Origin initiative[278](index=278&type=chunk) [Noninterest Expense (Six Months)](index=62&type=section&id=Noninterest%20Expense%20(Six%20Months)) This subsection details the slight increase in noninterest expense for the six months ended June 30, 2025 - Total noninterest expense increased by **$956,000 (0.8%)** to **$124.1 million** for the six months ended June 30, 2025[281](index=281&type=chunk) - Increases were seen in salaries and employee benefits (**$2.1 million**), occupancy and equipment (**$2.1 million**), and office and operations (**$735,000**)[282](index=282&type=chunk)[283](index=283&type=chunk)[284](index=284&type=chunk) - Decreases were seen in other expense (**$1.2 million**), regulatory assessments (**$839,000**), intangible asset amortization (**$745,000**), and loan-related expenses (**$714,000**)[285](index=285&type=chunk)[286](index=286&type=chunk)[287](index=287&type=chunk) [Comparison of Financial Condition at June 30, 2025, and December 31, 2024](index=63&type=section&id=Comparison%20of%20Financial%20Condition) This section analyzes changes in the balance sheet components, including assets, liabilities, and equity, between June 30, 2025, and December 31, 2024 [General (Financial Condition)](index=63&type=section&id=General%20(Financial%20Condition)) This subsection provides an overview of changes in total assets, cash, loans, securities, liabilities, deposits, and borrowings - Total assets remained stable at **$9.68 billion** at June 30, 2025[288](index=288&type=chunk) - Cash and cash equivalents decreased by **$136.1 million (29.0%)** to **$334.1 million**[288](index=288&type=chunk) - Total liabilities decreased by **$61.1 million (0.7%)** to **$8.47 billion**, while total deposits decreased by **$100.1 million (1.2%)** to **$8.12 billion**[289](index=289&type=chunk) - Subordinated debentures decreased by **$70.3 million (43.9%)** due to redemptions, while FHLB advances and other borrowings increased by **$115.4 million**[289](index=289&type=chunk) [Loan Portfolio](index=63&type=section&id=Loan%20Portfolio) This subsection details the composition and changes within the loan portfolio, emphasizing growth and decreases in specific categories - Total loans held for investment (**LHFI**) increased by **$110.7 million (1.5%)** to **$7.68 billion** at June 30, 2025[293](index=293&type=chunk) - Growth was driven by mortgage warehouse lines of credit (up **$225.7 million or 64.6%**) and residential real estate loans (up **$137.8 million or 7.4%**)[293](index=293&type=chunk) - Decreases were seen in construction/land/land development loans (down **$210.3 million or 24.3%**) and commercial real estate loans (down **$48.9 million or 2.0%**)[293](index=293&type=chunk) [Loan Portfolio Maturity Analysis](index=64&type=section&id=Loan%20Portfolio%20Maturity%20Analysis) This subsection presents the maturity distribution of the LHFI portfolio at June 30, 2025, distinguishing between fixed and variable interest rate loans | Maturity | Total LHFI (in thousands) | Fixed Rates (in thousands) | Variable Rates (in thousands) | | :------------------------------------ | :-------------------------- | :------------------------- | :-------------------------- | | One year or less | $2,488,974 | $569,865 | $1,919,109 | | After one year through five years | $3,826,267 | $1,923,590 | $1,902,677 | | After five years through fifteen years | $472,671 | $307,198 | $165,473 | | After fifteen years | $896,534 | $207,681 | $688,853 | | Total | $7,684,446 | $3,008,334 | $4,676,112 | [Nonperforming Assets](index=65&type=section&id=Nonperforming%20Assets) This subsection defines nonperforming assets and details the increase in nonperforming LHFI, attributing changes to specific loan relationships - Total nonperforming LHFI increased by **$10.3 million** to **$85.3 million** at June 30, 2025, compared to **$75.0 million** at December 31, 2024[304](index=304&type=chunk)[306](index=306&type=chunk) - The ratio of nonperforming LHFI to total LHFI increased to **1.11%** at June 30, 2025, from **0.99%** at December 31, 2024[304](index=304&type=chunk) - The increase in nonperforming loans was primarily driven by **six loan relationships** totaling **$17.3 million**, with commercial real estate loans accounting for **$8.3 million** of this increase[306](index=306&type=chunk) - Total nonperforming assets increased to **$87.3 million** at June 30, 2025, from **$78.6 million** at December 31, 2024[304](index=304&type=chunk) [Potential Problem Loans](index=66&type=section&id=Potential%20Problem%20Loans) This subsection explains the company's internal loan risk rating system used to manage credit quality and assess default risk - The Company classifies loans using internal risk grades: **pass, special mention, substandard, doubtful, or loss**, continually evaluated to reflect assessed risk[307](index=307&type=chunk)[67](index=67&type=chunk) - Loans rated 'special mention' exhibit potential weaknesses, while 'substandard' loans have well-defined weaknesses jeopardizing debt repayment[307](index=307&type=chunk) - 'Doubtful' loans have questionable full collection with a high probability of loss, and 'loss' loans are charged-off with no expectation of recovery[308](index=308&type=chunk) [Allowance for Loan Credit Losses](index=66&type=section&id=Allowance%20for%20Loan%20Credit%20Losses) This subsection describes the methodology for calculating the Allowance for Loan Credit Losses (ALCL) and its relationship to charge-offs - The **ALCL** represents estimated losses for loans accounted for on an amortized cost basis, calculated using a probability of default, loss given default methodology applied to loan pools[309](index=309&type=chunk) - The **ALCL to nonperforming LHFI** decreased to **108.33%** at June 30, 2025, compared to **121.41%** at December 31, 2024, primarily due to a **$10.3 million increase** in the Company's nonperforming LHFI[319](index=319&type=chunk) - Net charge-offs (annualized) as a percentage of average LHFI decreased to **0.13%** for the six months ended June 30, 2025, from **0.18%** for the year ended December 31, 2024[318](index=318&type=chunk) [Securities](index=69&type=section&id=Securities) This subsection discusses the increase in the securities portfolio, driven by a bond portfolio optimization strategy - The securities portfolio totaled **$1.14 billion** at June 30, 2025, representing an increase of **$23.9 million (2.1%)** from December 31, 2024[320](index=320&type=chunk) - A bond portfolio optimization strategy involved selling **$215.8 million** of lower-yielding available-for-sale securities and purchasing **$201.8 million** of higher-yielding ones, resulting in a **$14.4 million loss**[321](index=321&type=chunk) - The weighted average duration of the securities portfolio increased to **4.52 years** as of June 30, 2025, compared to **4.46 years** at December 31, 2024[324](index=324&type=chunk) [Deposits](index=69&type=section&id=Deposits) This subsection describes the deposit mix and changes, noting a decrease in total deposits primarily due to interest-bearing demand and time deposits - Total deposits decreased by **$100.1 million (1.2%)** to **$8.12 billion** at June 30, 2025, compared to December 31, 2024[326](index=326&type=chunk) - This decrease was driven by decreases of **$226.1 million** in interest-bearing demand deposits and **$135.4 million** in time deposits, partially offset by a **$371.5 million increase** in money market deposits[326](index=326&type=chunk) - The average rate paid on interest-bearing deposits decreased to **3.21%** for the six months ended June 30, 2025, from **3.90%** for the six months ended June 30, 2024, influenced by recent Federal Reserve rate cuts[329](index=329&type=chunk)[330](index=330&type=chunk) - Estimated total uninsured deposits were **$3.73 billion** at June 30, 2025, including **$830.2 million** in public fund deposits collateralized by pledged assets[333](index=333&type=chunk) [Borrowings](index=71&type=section&id=Borrowings) This subsection summarizes the company's borrowing activities, highlighting increased short-term FHLB advances and decreased subordinated debentures - Total FHLB advances and other borrowings increased by **$115.4 million** to **$127.8 million** at June 30, 2025, primarily due to **$115.0 million** in short-term FHLB advances[334](index=334&type=chunk) - Subordinated debentures decreased by **$70.3 million (43.9%)** to **$89.7 million**, following the redemption of **$70.0 million** in debentures as part of the Optimize Origin initiative[335](index=335&type=chunk) - The Company had an additional borrowing capacity of **$1.79 billion** from the FHLB at June 30, 2025[336](index=336&type=chunk) [Liquidity and Capital Resources](index=71&type=section&id=Liquidity%20and%20Capital%20Resources) This subsection provides an overview of the company's liquidity management, sources of funds, and off-balance sheet commitments - Management oversees the liquidity position to ensure adequate cash and liquid assets support operations and satisfy financial obligations, monitoring liquidity and non-core dependency ratios[337](index=337&type=chunk) - Key liquidity sources include **core deposits, investment securities, cash and cash equivalents, loan repayments, federal funds lines of credit**, and **advances from the FHLB**[341](index=341&type=chunk) - At June 30, 2025, the Company had the ability to borrow **$1.35 billion** from the discount window at the FRBD, with no outstanding borrowings[346](index=346&type=chunk) [Stockholders' Equity](index=73&type=section&id=Stockholders'%20Equity) This subsection presents the changes in total stockholders' equity, including net income, other comprehensive income, dividends, and stock repurchases | Metric | January 1, 2025 (in thousands) | June 30, 2025 (in thousands) | Change (in thousands) | % Change | | :----------------------------- | :----------------------------- | :--------------------------- | :-------------------- | :------- | | Total Stockholders' Equity | $1,145,245 | $1,205,769 | $60,524 | 5.28% | | Net income | N/A | $37,058 | N/A | N/A | | Other comprehensive income, net of tax | N/A | $32,468 | N/A | N/A | | Dividends declared - common stock | N/A | $(9,522) | N/A | N/A | | Repurchase of common stock | N/A | $(4,382) | N/A | N/A | [Regulatory Capital Requirements](index=73&type=section&id=Regulatory%20Capital%20Requirements) This subsection reaffirms the company's and the bank's compliance with regulatory capital requirements and 'well capitalized' status - Both **Origin Bancorp, Inc.** and **Origin Bank** were in compliance with all applicable regulatory capital requirements and classified as 'well capitalized' at June 30, 2025, and December 31, 2024[350](index=350&type=chunk) - The Company repurchased **136,399 shares** of common stock for **$4.4 million** during Q2 2025, and a new **$50.0 million** stock repurchase program was approved in July 2025[351](index=351&type=chunk) [Critical Accounting Policies and Estimates](index=74&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This subsection refers to the company's 2024 Form 10-K for detailed information on critical accounting policies and estimates - Critical accounting estimates involve significant estimation uncertainty and are reasonably likely to materially impact financial condition or results of operations[352](index=352&type=chunk) - Detailed information on critical accounting policies and estimates is available in the Company's **2024 Form 10-K**[353](index=353&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=75&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section discusses the company's primary market risk, interest rate volatility, and its management through financial policies and models [Interest Rate Sensitivity and Market Risk](index=75&type=section&id=Interest%20Rate%20Sensitivity%20and%20Market%20Risk) This subsection focuses on how the company manages its exposure to interest rate risk through balance sheet structuring and derivative instruments - The primary component of market risk is **interest rate volatility**, managed by structuring the consolidated balance sheet and utilizing derivative financial instruments[355](index=355&type=chunk)[357](index=357&type=chunk) - The **Asset Liability Management Committee (ALCO)** uses interest rate risk simulation models and shock analyses to test the interest rate sensitivity of net interest income and fair value of equity[359](index=359&type=chunk)[360](index=360&type=chunk) - Internal policy specifies that estimated net interest income at risk for the subsequent one-year period should not decline by more than **10.0%** for a **100-basis point shift** in the yield curve[361](index=361&type=chunk) | Change in Interest Rates (basis points) | % Change in Net Interest Income | % Change in Fair Value of Equity | | :------------------------------------ | :------------------------------ | :------------------------------- | | +400 | 12.7% | (9.7)% | | +300 | 9.7% | (6.9)% | | +200 | 6.7% | (4.1)% | | +100 | 3.5% | (1.8)% | | Base | N/A | N/A | | -100 | (4.0)% | 1.3% | | -200 | (6.2)% | 2.3% | | -300 | (7.7)% | 3.3% | | -400 | (8.1)% | 4.6% | [Impact of Inflation](index=76&type=section&id=Impact%20of%20Inflation) This subsection explains that inflation primarily affects financial institutions through increased operating costs and indirectly through its influence on interest rates - Inflation affects financial institutions by increasing the cost of goods and services, salaries, benefits, and occupancy expenses[367](index=367&type=chunk) - Changes in interest rates have a more significant impact on a financial institution's performance than general inflation, though interest rates are influenced by inflation[367](index=367&type=chunk) [Item 4. Controls and Procedures](index=77&type=section&id=Item%204.%20Controls%20and%20Procedures) This section reports on the effectiveness of the company's disclosure controls and procedures and internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were **effective** as of June 30, 2025[368](index=368&type=chunk) - No material changes in internal control over financial reporting occurred during the three-month period ended June 30, 2025[369](index=369&type=chunk) - The effectiveness of controls and procedures is subject to inherent limitations, including cost, judgments, human error, and fraud risk, providing only reasonable assurance[370](index=370&type=chunk) [PART II - OTHER INFORMATION](index=78&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This part contains other information not included in the financial statements, such as legal proceedings, risk factors, and equity sales [Item 1. Legal Proceedings](index=78&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 of the condensed financial statements for information regarding legal proceedings and loss contingencies - Additional information regarding legal proceedings and loss contingencies is provided in **Note 12 — Commitments and Contingencies** in Part I, Item 1 of this report[372](index=372&type=chunk) [Item 1A. Risk Factors](index=78&type=section&id=Item%201A.%20Risk%20Factors) This section states that there were no material changes to the risk factors previously disclosed in the company's 2024 Form 10-K - There were no material changes to the risk factors previously disclosed in the Company's **2024 Form 10-K** during the period covered by this report[373](index=373&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](index=78&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section details the company's stock repurchase program, including shares repurchased during Q2 2025 and a new program approval - The Company repurchased a total of **136,399 shares** of its common stock during Q2 2025 at an average price of **$32.13 per share**, under its July 2022 stock repurchase program[375](index=375&type=chunk)[376](index=376&type=chunk) - In July 2025, the Board approved a new stock repurchase program authorizing the purchase of up to **$50.0 million** of common stock over the next three years, replacing the expired July 2022 plan[375](index=375&type=chunk) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan at the End of the Period (in thousands) | | :----------------------------- | :----------------------------- | :--------------------------- | :---------------------------------------------------------------------------------------------------------------- | | April 1, 2025 - April 30, 2025 | 90,636 | $32.08 | $47,092 | | May 1, 2025 - May 31, 2025 | 45,763 | $32.23 | $45,618 | | June 1, 2025 - June 30, 2025 | — | — | $45,618 | | Total | 136,399 | $32.13 | $45,618 | [Item 3. Defaults Upon Senior Securities](index=78&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section states that this item is not applicable to the company for the reporting period - This item is not applicable[377](index=377&type=chunk) [Item 4. Mine Safety Disclosures](index=78&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section states that this item is not applicable to the company for the reporting period - This item is not applicable[378](index=378&type=chunk) [Item 5. Other Information](index=78&type=section&id=Item%205.%20Other%20Information) This section reports no directors or executive officers adopted, terminated, or modified Rule 10b5-1 trading arrangements - None of the Company's directors or executive officers adopted, terminated, or modified a **Rule 10b5-1 trading arrangement** or a non-Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[382](index=382&type=chunk) [Item 6. Exhibits](index=79&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Form 10-Q, including certifications and Inline XBRL financial information - Exhibits filed include certifications by the Chief Executive Officer and Chief Financial Officer (**31.1, 31.2, 32.1, 32.2**) and financial information formatted in **Inline XBRL (101, 104)**[383](index=383&type=chunk) [SIGNATURES](index=80&type=section&id=SIGNATURE%20PAGE) This section contains the official signatures of the company's Chairman, President, CEO, and CFO, certifying the report - The report was signed on **August 6, 2025**, by **Drake Mills**, Chairman, President and Chief Executive Officer, and **William J. Wallace, IV**, Senior Executive Officer and Chief Financial Officer[387](index=387&type=chunk)

PTPP earnings is a non-GAAP financial measure, please see the last few pages of this document for a reconciliation of this alternative financial measure to its most directly comparable GAAP measure. (1) Optimize Origin Exhibit 99.1 For Immediate Release ORIGIN BANCORP, INC. REPORTS EARNINGS FOR SECOND QUARTER 2025 RUSTON, Louisiana (July 23, 2025) - Origin Bancorp, Inc. (NYSE: OBK) ("Origin," "we," "our" or the "Company"), the holding company for Origin Bank (the "Bank"), today announced net income of $14.6 ...

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, 2025 (State or other jurisdiction of incorporation or organization) Louisiana 72-1192928 (I.R.S. Employer Identification Number) 500 South Service Road East Ruston, Louisiana 71270 (318) 255-2222 (Address, including zip code, and telephone number, including area code, of registrant's pri ...

Exhibit 99.1 For Immediate Release ORIGIN BANCORP, INC. REPORTS EARNINGS FOR FIRST QUARTER 2025 "Origin reported solid results for the quarter, and I am proud of how our bankers remain responsive to our customers and communities," said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. "During last quarter's earnings call, we introduced Optimize Origin, which is our plan to deliver sustainable elite-level financial performance. I am pleased with the overwhelming focus and commitment our employ ...