Origin Bank(US:OBK)2021-04-30 19:19Financial Performance - Total loans held for investment ("LHFI") increased by $124.99 million, or 2.2%, from the previous quarter and $1.37 billion, or 30.5%, year-over-year, reaching $5.85 billion[9] - Total deposits increased by $594.88 million, or 10.3%, from the previous quarter and $1.79 billion, or 39.3%, year-over-year, reaching $6.35 billion[9] - Net income was $25.51 million, an increase of $7.96 million, or 45.4%, from the previous quarter and $24.76 million, or 3,288.2%, year-over-year[9] - Pre-Tax, Pre-Provision Earnings ("PTPP") was $32.93 million, an increase of $4.62 million, or 16.3%, from the previous quarter and $14.08 million, or 74.7%, year-over-year[9] - Diluted EPS was $1.08, an increase of $0.33, or 44.0%, from the previous quarter and $1.05, or 3,500.0%, year-over-year[9] Texas Market - Texas franchise represents 56% of LHFI, excluding mortgage warehouse loans, and 49% of deposits at March 31, 2021[14] - Texas loan portfolio increased from $1.31 billion in 2017 to $2.65 billion in 1Q2021[14] - Texas deposit base increased from $1.17 billion in 2017 to $2.92 billion in 1Q2021[14] Asset Quality - Provision expense for the 1Q2021 quarter was $1.4 million, a decline of $4.9 million from 4Q2020, and a $17.1 million decline from 1Q2020[53] - Nonperforming LHFI / LHFI excl PPP loans was 0.63% in 1Q2021[51] - ALCL to nonperforming LHFI is 255.22% at 1Q2021[53] Net Interest Margin - NIM (FTE) increased by 15 bps to 3.22% in 1Q2021 from 4Q2020[59] - Excluding the impact of PPP loans, NIM (FTE) was 3.15% in 1Q2021, compared to 3.17% at 4Q2020[59]