Financial Performance - EPS increased to $0.38, a 23% increase QoQ, reflecting positive operating leverage[6] - Pre-Tax Pre-Provision (PTPP) income grew by 17% QoQ to $102 million, driven by revenue growth of 5% and flat expenses[6] - Net Interest Margin (NIM) expanded by 12bps QoQ to 322%, while the spot NIM as of September 30 was 318%[6] - Return on Average Tangible Common Equity (ROATCE) increased by 153bps QoQ to 987%[6] Balance Sheet - Tangible Book Value Per Share (TBVPS) increased by 3% QoQ to $1699[6] - CET 1 ratio stood at 1014%[6] - Non-interest-bearing (NIB) deposits experienced annualized growth of 9%[6] - $35 million of shares were repurchased in 3Q25, bringing the year-to-date total to $185 million[6] Asset Quality - Criticized loan ratio decreased by 17bps QoQ[6] - Allowance for Credit Losses (ACL) ratio increased to 112%[6] - $263 million of Held For Sale (HFS) Commercial Real Estate (CRE) loans were sold or paid off[6] Income Statement - Total interest income was $4325 million[18] - Total noninterest income was $343 million, up 5% QoQ[18, 29] - Noninterest expenses remained flat[30]

Financial Performance & Targets - Origin Bancorp的目标是在2025年第四季度实现超过1%的ROAA运行率[17] - 2025年第三季度，净利息收入为8370万美元，比第二季度增长19%[32] - 2025年第三季度，NIM-FTE为365%，比第二季度增长4个基点[32] - 预计优化措施将带来约3720万美元的年度税前收益[18] Balance Sheet & Loan Portfolio - 截至2025年9月30日，总贷款额为7537099000美元[31] - 截至2025年9月30日，总存款额为8331830000美元[31] - 德克萨斯州的贷款占LHFI的71%，存款占54%[49] - 截至2025年9月30日，商业贷款占贷款组合的45%，非自用商业房地产、C&D和多户住宅占36%[54] Strategic Initiatives & Capital Management - Origin Bancorp正在实施“优化Origin”计划，以提高财务业绩和企业文化[32] - 公司在第三季度回购了265248股普通股，平均价格为每股3585美元[32] - 截至第三季度末，股票回购计划中剩余4050万美元[122]

Financial Performance - Net income for 3Q25 was $21.9 million, a 12.4% increase compared to $19.4 million in 2Q25, but a significant increase compared to a loss of $7.9 million in 3Q24[7] - Diluted EPS for 3Q25 was $1.13, a 12.3% increase compared to $1.01 in 2Q25, and a substantial increase compared to a loss of $0.41 in 3Q24[7] - The annualized Return on Average Assets (ROAA) for 3Q25 was 1.60%, compared to 1.45% in 2Q25 and -0.57% in 3Q24[7] - The annualized Return on Average Equity (ROAE) for 3Q25 was 15.72%, compared to 14.56% in 2Q25 and -5.85% in 3Q24[7] - The efficiency ratio improved to 56.4% in 3Q25, compared to 60.3% in 2Q25 and 94.1% in 3Q24[7] Balance Sheet - Total assets remained relatively stable at $5,470.2 million in 3Q25, a 1.5% increase compared to $5,387.6 million in 2Q25, and approximately the same as $5,470.6 million in 3Q24[7] - Total loans were $3,979.7 million in 3Q25, a 1.2% increase compared to $3,931.4 million in 2Q25, and approximately the same as $3,981.4 million in 3Q24[7] - Total deposits were $4,533.6 million in 3Q25, a 0.4% increase compared to $4,516.6 million in 2Q25, but a 2.5% decrease compared to $4,650.9 million in 3Q24[7] Net Interest Income and Margin - Net interest income totaled $51.0 million for the quarter, while the net interest margin improved to 4.11%, a 4 basis point increase from 2Q25[14, 15] Non-Interest Income and Expenses - Non-interest income increased by $0.5 million to $13.4 million during the quarter[21] - Non-interest expenses decreased by $1.3 million quarter over quarter, totaling $36.3 million for the three months ended September 30, 2025[30]

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $0.83 for Q3 2025, an improvement compared to the linked quarter [5] - Net interest income increased nearly $4,000,000, while the net interest margin expanded by one basis point [6] - The efficiency ratio improved to 57.1% compared to 59.3% in the linked quarter [7] - The provision for credit losses declined over $9,000,000, with the allowance for credit losses standing at 1.11% of total loans [8][10] Business Line Data and Key Metrics Changes - Annualized loan growth was 8%, with significant growth in commercial real estate and commercial and industrial loan balances [12] - Non-performing loans declined nearly $2,000,000, comprising 58 basis points of total loans compared to 61 basis points at the end of the previous quarter [10] - Fee-based income experienced a 1% decline compared to the linked quarter, driven by lower lease income [17] Market Data and Key Metrics Changes - The loan to deposit ratio increased to 88% from 86% at the end of the previous quarter [20] - Deposit balances were relatively flat, with increases in money market and interest-bearing demand accounts offset by declines in brokered CDs and governmental accounts [21][22] Company Strategy and Development Direction - The company continues to develop its business organically while awaiting the right acquisition opportunities [24] - The focus remains on managing net interest income and net interest margin through the current interest rate cycle [24] - The company anticipates loan growth to be between 4% and 6% for 2026, depending on pay down timing and economic conditions [26] Management's Comments on Operating Environment and Future Outlook - Management noted a reduction in provision for credit losses to a more normalized rate for Q3 [24] - The company expects to achieve positive operating leverage for 2025 compared to 2024, excluding the impact of reduced accretion income [25] - Management highlighted the potential for increased refinancing activity if mortgage rates fall [66] Other Important Information - The tangible equity to tangible assets ratio improved by 27 basis points to 8.5% at quarter end [23] - The company plans to manage capital in preparation for potential M&A opportunities while supporting dividends [95] Q&A Session Summary Question: Clarification on criticized and classified loans - Management expects some criticized and classified loans to revert in the near term, estimating $35,000,000 to $55,000,000 in upgrades or payoffs [34] Question: Loan growth guidance for 2026 - Management indicated that loan growth guidance for 2026 is slightly below this year's guidance but aligns with historical growth rates [36] Question: Impact of rate cuts on margin - Management confirmed that each 25 basis point rate cut is expected to result in a three to four basis point decline in net interest margin [46] Question: Update on North Star portfolio - Management reported that the high balance accounts in the North Star portfolio are down to about $15,000,000 to $16,000,000, with expectations for a gradual decline in charge-offs [48] Question: Appetite for buybacks and M&A - Management expressed a priority on building capital for M&A opportunities while maintaining an active buyback program [95]

Core Insights - Truist Financial (TFC) is experiencing steady loan growth, with average loans and leases held for investment reaching $312.6 billion as of June 30, 2025, marking a 2% year-over-year increase [1][11] Loan Growth and Earnings - The improvement in average loan balance has led to higher average earning assets for TFC in the first half of 2025, despite a decline in yield on the average total loan portfolio to 5.99%, down 42 basis points from the prior year [2] - Truist's net interest income (NII) for the first half of 2025 was $7.09 billion, reflecting a 3% year-over-year growth, with net interest margin improving by 7 basis points to 3.02% [3][11] Management Outlook - Management is optimistic about NII growth, projecting an increase of approximately 3% in 2025, supported by low single-digit average loan growth and anticipated reductions in the Fed funds rate [4] - Truist plans to reprice around $27 billion of fixed-rate loans and investment securities in the second half of 2025, with new fixed-rate loans expected to have a run-on rate of about 7% compared to a current run-off rate of nearly 6.4% [4] Future Projections - The company expects modest loan growth, favorable loan repricing, and strategic balance sheet management to counteract Fed rate cuts, with NII projected to grow by 2.8%, 3.1%, and 4.5% in 2025, 2026, and 2027, respectively [5] - The projected net interest margin (NIM) for 2025, 2026, and 2027 is estimated to be 3.05%, 3.14%, and 3.25%, respectively [5] Peer Comparison - PNC Financial has seen a five-year CAGR of 5.6% in total loans from 2019 to 2024, with a positive outlook for loan demand due to expected interest rate cuts in 2025 [6] - U.S. Bancorp has also experienced strong loan growth, with a five-year CAGR of 5.1% and a focus on expanding customer relationships [8]

Financial Highlights - Heritage Financial Corporation's assets reached $7.1 billion[16] - Deposits totaled $5.8 billion[16] - Loans receivable amounted to $4.8 billion[16] - Net income was $12.2 million[16] - The net interest margin stood at 3.51%[16] Capital and Ratios - The market capitalization was $863 million as of July 7, 2025[16] - The leverage ratio was 10.3%[16] - The total capital ratio was 13.6%[16] Loan Portfolio - Loans by Seattle MSA accounted for 48.6% which is $2,319 million of the total loan portfolio[27] - Loans by Portland OR-WA MSA accounted for 15.2% which is $728 million of the total loan portfolio[27] Deposit Portfolio - Deposits by Seattle WA MSA accounted for 44.0% which is $2,545 million of the total deposit portfolio[27] - Deposits by Portland OR-WA MSA accounted for 14.6% which is $841 million of the total deposit portfolio[27] - Noninterest demand deposits represented 27.4% of total deposits as of June 30, 2025[19] Investment Portfolio - Investment cashflows are estimated to be $543 million through Q2 of 2028[88]

Financial Performance Highlights - Core net income reached $27 million in 2Q25[11] - Net interest income was $72.9 million in 2Q25[17] - The company's core return on average assets (ROAA) was 1.28% in 2Q25[24] - The core efficiency ratio was 49.21% in 2Q25[54] Deposit Portfolio - Total GAAP deposits reached $7.7 billion as of 2Q25[26] - Core deposits totaled $7.6 billion, with $1.2 billion in core political deposits[28] - Political deposits accounted for 15.6% of GAAP deposits[78] Loan Portfolio - Total loans amounted to $4.71 billion in 2Q25[45] - Mission-aligned loans constituted 86% of the total loan portfolio[47] - Pass-rated loans represented 97.9% of the loan portfolio[79] Investment Securities - Total investment securities book value was $3.5 billion[81] - Agency securities comprised 25.6% of the total investment securities portfolio[81] - Valuation loss as a percentage of the AFS portfolio was 2.4%[81] Capital and Equity - The tangible common equity (TCE) ratio was 8.60%[88] - Tangible book value (TBV) per share increased to $24.33[19]

Financial Highlights - New investment activity reached over $1 billion[7] - Investment assets and unrestricted cash totaled $4.7 billion, including $1.6 billion in senior secured first mortgage loans[8] - Total liquidity was approximately $1 billion, which included an $850 million undrawn unsecured corporate revolver[8] - The company issued $500 million in inaugural investment grade unsecured bonds[8] Portfolio Composition - First mortgage loans accounted for $1.6 billion, or 35%, of the total investment portfolio[11] - CRE equity represented $936 million, or 20%, of the portfolio[11] - Securities comprised $2 billion, or 42%, of the portfolio[11] - 82% of the company's assets are senior secured and/or investment grade rated[11] Key Metrics - Distributable earnings were $30.9 million, resulting in distributable EPS of $0.23 and a distributable ROAE (after-tax) of 7.7%[11] - The company declared a Q2 2025 cash dividend of $0.23 per share, representing an 8.3% annual dividend yield[11] - Unencumbered assets totaled $3.7 billion, which is 83% of total assets[11] - The adjusted leverage ratio was 1.6x, or 1.5x net of cash[11] - 74% of total debt was comprised of unsecured corporate bonds[11]

Financial Data and Key Metrics Changes - Total assets reached $10.3 billion as of the close of the second quarter, with total investment securities increasing by $209.2 million to $2 billion [6][7] - Loan growth decreased by $30 million to $7.2 billion, primarily due to increased prepayments [7] - Total deposits increased by $151.6 million to $8.3 billion, driven by growth in core deposits [7] - Net interest income was $90.5 million, up $4.6 million, primarily driven by higher average balances of securities [10] - Provision for credit losses decreased to $6.1 million from $18.4 million in the first quarter [10] - Return on assets (ROA) improved to 0.90% and return on equity (ROE) improved to 10.1% [12] Business Line Data and Key Metrics Changes - Pre-provision net revenue (PPNR) increased to $35.9 million in Q2 2025 from $33.9 million in Q1 2025, with core PPNR rising by 17.7% [10] - Non-interest income was $19.8 million, while non-interest expense was $74.4 million, with a variance primarily driven by non-core expenses [10] Market Data and Key Metrics Changes - Customer deposits grew by $202.3 million, partially offset by a planned reduction of $51 million in broker deposits [7] - Assets under management increased by $132.4 million to $3.1 billion, driven by higher market valuations and net new assets [7] Company Strategy and Development Direction - The company is focusing on improving asset quality and has made significant improvements in capital metrics [11][12] - Plans to open new banking centers in Miami Beach and Downtown Tampa, with a focus on expanding in the Greater Tampa marketplace [22] - The company is transitioning its mortgage business to focus solely on in-footprint mortgage lending [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to double-digit loan growth, emphasizing the importance of asset quality [32] - The company expects annual deposit growth of 14% to 15% by year-end 2025 and anticipates loan production growth of approximately 5% annualized [18] - Management is prioritizing ROA and expects to reach 1% in the second half of 2025 [19] Other Important Information - The company repurchased 275,666 shares at a weighted average price of $80.14 per share during the second quarter [11] - The efficiency ratio is expected to be in the mid-sixty range, with a focus on prudent capital management [19][29] Q&A Session Summary Question: Loan growth expectations moving forward - Management expects to return to double-digit growth, emphasizing the quality of organic deposit growth [32] Question: Asset quality and charge-offs - Management indicated that the charge-offs were already provisioned for, and they expect to manage realized losses effectively [36][38] Question: Loan loss reserve adequacy - Management confirmed that the loan loss reserve of approximately $120 million is appropriate for current conditions [42] Question: Net interest margin (NIM) outlook - Management expects NIM to normalize around 3.75% for the third quarter, with various factors influencing this projection [19][46] Question: M&A opportunities - While organic growth remains the top priority, management is open to M&A opportunities as their currency improves [90][92]

Financial Performance & Outlook - Origin Bancorp的目标是在2025年第四季度实现超过1%的ROAA运行率[17]，并最终达到前四分之一的ROAA水平[18] - 预计2025年全年贷款和存款增长均为低个位数[19] - 预计净利息收入（NII）在2025年将实现高个位数增长[19] - 预计2025年非利息收入将与去年同期持平[19] - 预计2025年非利息支出将与去年同期持平或略有下降[19] - 预计2025年税率约为21.0%[19] Strategic Initiatives & Optimizations - Origin Bancorp已确定了约3420万美元的年度税前收益优化机会[20]，包括生产优化约1150万美元[20]，证券优化约1170万美元[20]，资本优化约210万美元[20]，流动性优化约120万美元[20]，抵押贷款优化约150万美元[20]，其他供应商效率优化约20万美元[20]，以及对Argent Financial的额外投资约600万美元[20] Loan & Deposit Portfolio - 截至2025年6月30日，德克萨斯州的贷款占贷款总额的71%[9, 49]，存款占总额的55%[9, 49] - 截至2025年6月30日，不包括抵押贷款仓库信贷额度，贷款总额为71.1亿美元[52]，其中抵押贷款仓库信贷额度为5.747亿美元，占贷款总额的7.5%[52] - 截至2025年6月30日，总存款为81.23036亿美元[35]