Origin Bancorp, Inc. Reports Earnings For Second Quarter 2026
Rhea-AI Summary
Origin Bancorp (NYSE: OBK) reported second-quarter 2026 net income of $33.8 million, or $1.09 diluted EPS, up from $27.7 million and $0.89 EPS in the first quarter of 2026. Pre-tax, pre-provision earnings were $43.2 million, compared with $40.2 million in the linked quarter.
Net interest income rose 5.7% to $92.2 million as NIM-FTE expanded 21 basis points to 3.92% and net interest spread increased to 3.07%. Annualized ROAA reached 1.35%. Loans held for investment grew 2.7% sequentially to $8.07 billion, while total deposits decreased 0.6% to $8.70 billion.
Credit quality metrics improved, with provision for credit losses falling to $65,000, nonperforming loans declining, and annualized net charge-offs at 0.02% of average LHFI. The board raised the quarterly dividend 67% to $0.25 per share and Origin repurchased 217,034 shares at an average $46.60. Repurchase authorization was increased by $100 million, leaving $121.6 million available through July 2028.
Positive
- Net income up 22.2% QoQ to $33.8 million
- NIM-FTE expanded 21 bps QoQ to 3.92%
- Annualized ROAA improved to 1.35% in Q2 2026
- Total LHFI grew 2.7% QoQ to $8.07 billion
- Provision for credit losses fell to $65,000 from $5.0 million
- Quarterly dividend raised 67% to $0.25 per share
- Share repurchases of 217,034 shares; $121.6 million authority remaining
Negative
- Noninterest income declined by $1.4 million QoQ to $15.4 million
- Argent investment income decreased $1.1 million QoQ to $668,000
- Noninterest expense increased $615,000 QoQ to $64.4 million
- Total deposits declined $53.0 million QoQ to $8.70 billion
- Equity method investments still produced a $612,000 loss in Q2 2026
News Explained
During the quarter, Origin Bancorp increased FHLB advances and other borrowings to
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 10 | Earnings scheduling | Neutral | -0.1% | Announced second-quarter earnings release date and conference call schedule |
| Apr 29 | Market expansion | Positive | -0.2% | Announced Birmingham expansion and hiring of a local banking team |
| Apr 22 | Dividend declaration | Positive | +4.0% | Declared quarterly cash dividend of $0.25 per common share |
| Apr 22 | First-quarter earnings | Positive | +4.0% | Reported first-quarter earnings growth and increased quarterly dividend |
| Apr 10 | Earnings scheduling | Neutral | -1.3% | Announced first-quarter earnings release date and conference call schedule |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Positive earnings and dividend announcements were followed by positive reactions, while expansion and scheduling announcements were followed by negative reactions.
Key Terms
roaa financial
lhfi financial
alcl financial
cecl financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
RUSTON, La., July 22, 2026 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (NYSE: OBK) (“Origin,” “we,” “our” or the “Company”), the holding company for Origin Bank (the “Bank”), today announced net income of
“This quarter’s results represent another meaningful step forward in the journey we began with Optimize Origin a year and a half ago,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “As we move through the remainder of 2026, our objectives remain clear. We will continue to execute on Optimize Origin, invest strategically across our footprint, attract exceptional talent, and appropriately deploy excess capital.”
(1) 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.
Optimize Origin
- In January 2025, we announced our Optimize Origin initiative to drive elite financial performance and enhance our award-winning culture, and it continues to be an important part of our corporate DNA.
- Built on three primary pillars:
- Productivity, Delivery & Efficiency
- Balance Sheet Optimization
- Culture & Employee Engagement
- As announced in our Fourth Quarter and Full Year 2025 Earnings Release, our near term ROAA run rate target is
1.15% or higher by 4Q26, as we continue towards our ultimate top quartile ROAA target.
Financial Highlights
- The Company delivered strong performance, and in some cases, record performance across numerous key financial metrics including, but not limited to, net income, net interest income, fully tax-equivalent net interest margin (“NIM-FTE”), annualized ROAA, annualized ROAE, and book value per common share.
- Net income was
$33.8 million for the quarter ended June 30, 2026, reflecting an increase of$6.2 million , or22.2% , compared to the linked quarter. - Our NIM-FTE increased 21 basis points to
3.92% for the quarter ended June 30, 2026, compared to the quarter ended March 31, 2026. Our net interest spread increased to3.07% , or 18 basis points, compared to the linked quarter. - Annualized ROAA was
1.35% for the quarter ended June 30, 2026, reflecting an increase of 24 basis points, compared to the quarter ended March 31, 2026. - Total loans held for investment (“LHFI”) were
$8.07 billion at June 30, 2026, reflecting an increase of$209.4 million , or2.7% , compared to March 31, 2026. LHFI, excluding mortgage warehouse lines of credit, were$7.48 billion at June 30, 2026, reflecting an increase of$141.9 million , or1.9% , compared to March 31, 2026. - During the quarter ended June 30, 2026, we repurchased 217,034 shares of our common stock at an average price of
$46.60 per share, including commissions and applicable excise taxes. Also, in July 2026, our board of directors approved a$100 million increase in repurchase authority under our current stock repurchase program, which expires in July 2028. As of the date of this release,$121.6 million remains available for share repurchases under the stock repurchase program. - During April 2026, our board approved an increase in our quarterly dividend from
$0.15 t o$0.25 per share, a67% increase, reflecting balance sheet strength and earnings durability.
Results of Operations for the Quarter Ended June 30, 2026
Net Interest Income and Net Interest Margin
Net interest income for the quarter ended June 30, 2026, was
The
The
The Federal Reserve Board sets various benchmark rates, including the federal funds rate, and thereby influences the general market rates of interest, including loan and deposit rates offered by financial institutions. On October 29, 2025, and December 10, 2025, the Federal Reserve Board reduced the federal funds target rate range by 25 basis points each, to a range of
Our NIM-FTE was
Credit Quality
The table below includes key credit quality information:
| At and For the Three Months Ended | Change | % Change | ||||||||||||||||
| (Dollars in thousands, unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | Linked Quarter | Linked Quarter | |||||||||||||
| Past due 30 to 89 days and still accruing | $ | 5,203 | $ | 17,624 | $ | 12,495 | $ | (12,421 | ) | (70.5) | % | |||||||
| Allowance for loan credit losses (“ALCL”) | 98,188 | 99,015 | 92,426 | (827 | ) | (0.8) | ||||||||||||
| Total nonperforming LHFI | 78,522 | 87,266 | 85,315 | (8,744 | ) | (10.0) | ||||||||||||
| Provision for credit losses | 65 | 4,965 | 2,862 | (4,900 | ) | (98.7) | ||||||||||||
| Net charge-offs | 454 | 2,777 | 2,300 | (2,323 | ) | (83.7) | ||||||||||||
| Credit quality ratios(1): | ||||||||||||||||||
| ALCL to nonperforming LHFI | 125.05 | % | 113.46 | % | 108.33 | % | 11.59 | % | N/A | |||||||||
| ALCL to total LHFI | 1.22 | 1.26 | 1.20 | (0.04 | ) | N/A | ||||||||||||
| ALCL to total LHFI, adjusted(2) | 1.30 | 1.34 | 1.29 | (0.04 | ) | N/A | ||||||||||||
| Nonperforming LHFI to LHFI | 0.97 | 1.11 | 1.11 | (0.14 | ) | N/A | ||||||||||||
| Net charge-offs to total average LHFI (annualized) | 0.02 | 0.15 | 0.12 | (0.13 | ) | N/A | ||||||||||||
_______________________
N/A = Not applicable.
(1) Please see the Loan Data schedule at the back of this document for additional information.
(2) The ALCL to total LHFI, adjusted, is calculated by excluding the ALCL for mortgage warehouse lines of credit loans from the total LHFI ALCL in the numerator and excluding the mortgage warehouse lines of credit loans from the LHFI in the denominator. Due to their low-risk profile, mortgage warehouse lines of credit loans require a disproportionately low allocation of the ALCL.
Our results included a total provision for credit losses of
The ALCL totaled
Past due 30 to 89 days and still accruing decreased
Total nonperforming LHFI decreased
Net charge-offs were
Noninterest Income
Noninterest income for the quarter ended June 30, 2026, was
The
The
The components of equity method investment (loss) income are as follows:
| At and For the Three Months Ended | $ Change | % Change | ||||||||||||||||
| (Dollars in thousands, unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | Linked Quarter | Linked Quarter | |||||||||||||
| Argent investment income | $ | 668 | $ | 1,754 | $ | — | $ | (1,086 | ) | (61.9 | )% | |||||||
| Limited partnership investment loss | (1,280 | ) | (3,271 | ) | (1,909 | ) | 1,991 | 60.9 | ||||||||||
| Total equity method investment loss | $ | (612 | ) | $ | (1,517 | ) | $ | (1,909 | ) | $ | 905 | 59.7 | % | |||||
Noninterest Expense
Noninterest expense for the quarter ended June 30, 2026, was
The
The
The
Financial Condition
Loans
- Total LHFI at June 30, 2026, were
$8.07 billion , an increase of$209.4 million , or2.7% , from$7.86 billion at March 31, 2026, and an increase of$389.1 million , or5.1% , compared to June 30, 2025. - Excluding mortgage warehouse lines of credit, LHFI increased
$141.9 million , or1.9% , from March 31, 2026. The increase was primarily driven by increases of$72.0 million ,$57.3 million and$49.1 million in non-owner-occupied commercial real estate, construction/land/land development and owner-occupied commercial real estate loans, respectively. These increases were partially offset by a decrease of$31.5 million in commercial and industrial loans. - Mortgage warehouse lines of credit at June 30, 2026, were
$589.7 million , an increase of$67.4 million , or12.9% , from$522.3 million at March 31, 2026, and an increase of$15.0 million , or2.6% , compared to June 30, 2025.
Securities
- Total securities at June 30, 2026, were
$1.16 billion , a decrease of$9.5 million , or0.8% , from$1.17 billion at March 31, 2026, and an increase of$14.6 million , or1.3% , compared to June 30, 2025. - Accumulated other comprehensive loss, net of taxes, primarily associated with unrealized losses within the available for sale portfolio, was
$60.8 million at both June 30, 2026 and March 31, 2026, and decreased$12.7 million , or17.3% , from June 30, 2025. - The weighted average effective duration for the total securities portfolio was 4.08 years as of June 30, 2026, compared to 4.14 years as of March 31, 2026.
Deposits
- Total deposits at June 30, 2026, were
$8.70 billion , a decrease of$53.0 million , or0.6% , compared to March 31, 2026, and an increase of$580.2 million , or7.1% , from June 30, 2025. The decrease was primarily due to a$270.2 million decrease in public funds due to seasonality. Also contributing were decreases of$79.7 million and$59.7 million in other and consumer deposits, respectively. Offsetting these decreases was an increase of$356.7 million in business deposits. - At June 30, 2026, and March 31, 2026, noninterest-bearing deposits as a percentage of total deposits were
26.0% and23.6% , respectively. At June 30, 2025, noninterest-bearing deposits as a percentage of total deposits were22.7% .
Borrowings
- FHLB advances and other borrowings at June 30, 2026, were
$136.9 million , an increase of$124.3 million from$12.6 million at March 31, 2026, and an increase of$9.0 million , or7.1% from June 30, 2025. The increase in the current quarter compared to the linked quarter is primarily due to an increase in FHLB short-term borrowings of$125.0 million used primarily to meet seasonal liquidity needs. - Average FHLB advances were
$140.9 million for the quarter ended June 30, 2026, an increase of$124.5 million from$16.4 million for the quarter ended March 31, 2026, and an increase of$28.9 million from June 30, 2025.
Subordinate debentures
- Total subordinated debentures at June 30, 2026, were
$16.6 million , a decrease of$73.1 million , or81.5% , compared to June 30, 2025, due to the redemption of$74.0 million in subordinated debentures during the quarter ended December 31, 2025, in conjunction with our Optimize Origin initiative.
Capital
- Total stockholders’ equity at June 30, 2026, was
$1.28 billion , an increase of$20.8 million , or1.6% , compared to March 31, 2026, and an increase of$75.3 million , or6.2% , from June 30, 2025.
- Uses of regulatory capital since the beginning of 2025 consist of the following:
- Repurchased 833,539 shares of our common stock at an average price of
$39.29 per share, for a total of$32.7 million , including commissions and applicable excise taxes. Also, in July 2026, our board of directors approved a$100 million increase in repurchase authority under our current stock repurchase program, which expires in July 2028. As of the date of this release,$121.6 million remains available for share repurchases under the stock repurchase program. - Redeemed
$143.6 million of subordinated debentures, including the amortization of the original issue discount and fair value mark. - Declared
$31.6 million in dividends to our stockholders, excluding dividends declared in July 2026.
- Repurchased 833,539 shares of our common stock at an average price of
Conference Call
Origin will hold a conference call to discuss its second quarter 2026 results on Thursday, July 23, 2026, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). To participate in the live conference call, please dial +1 (929) 272-1574 (U.S. Local / International 1); +1 (857) 999-3259 (U.S. Local / International 2); +1 (888) 700-7550 (U.S. Toll Free), enter Conference ID: 75275 and request to be joined into the Origin Bancorp, Inc. (OBK) call. A simultaneous audio-only webcast may be accessed via Origin’s website at www.origin.bank under the Investor Relations, News & Events, Events & Presentations link or directly by visiting https://dealroadshow.com/e/ORIGIN2Q26.
If you are unable to participate during the live webcast, the webcast will be archived on the Investor Relations section of Origin’s website at www.origin.bank, under Investor Relations, News & Events, Events & Presentations.
About Origin
Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 57 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, Alabama and the Florida Panhandle. In addition, Origin provides a broad range of insurance agency products and services through its wholly owned insurance agency subsidiary, Forth Insurance, LLC. For more information, visit www.origin.bank and www.forthinsurance.com.
Non-GAAP Financial Measures
Origin reports its results in accordance with generally accepted accounting principles in the United States of America ("GAAP"). However, management believes that certain supplemental non-GAAP financial measures may provide meaningful information to investors that is useful in understanding Origin's results of operations and underlying trends in its business. These non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Origin's reported results prepared in accordance with GAAP. The following are the non-GAAP measures used in this release: PTPP earnings, PTPP ROAA, tangible book value per common share, and ROATCE.
Please see the last few pages of this release for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin Bancorp, Inc’s (“Origin”, “we”, “our” or the “Company”) future financial performance, business and growth strategies, projected plans and objectives, and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including changes to interest rates by the Federal Reserve and the resulting impact on Origin’s results of operations, estimated forbearance amounts and expectations regarding the Company’s liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin’s control. Statements or statistics preceded by, followed by or that otherwise include the words “assumes,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “projects,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will,” and “would” and variations of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Further, certain factors that could affect Origin’s future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: (1) the impact of current and future economic conditions generally and in the financial services industry, nationally and within Origin’s primary market areas, including the impact of tariffs, as well as the financial stress on borrowers and changes to customer and client behavior as a result of the foregoing; (2) changes in benchmark interest rates and the resulting impacts on net interest income; (3) deterioration of Origin’s asset quality; (4) factors that can impact the performance of Origin’s loan portfolio, including real estate values and liquidity in Origin’s primary market areas; (5) the financial health of Origin’s commercial borrowers and the success of construction projects that Origin finances; (6) changes in the value of collateral securing Origin’s loans; (7) the impact of generative artificial intelligence; (8) Origin’s ability to anticipate interest rate changes and manage interest rate risk; (9) the impact of heightened regulatory requirements, reduced debit interchange and overdraft income and the possibility of facing related adverse business consequences if our total assets grow in excess of
New risks and uncertainties arise from time to time, and it is not possible for Origin to predict those events or how they may affect Origin. In addition, Origin cannot assess the impact of each factor on Origin’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Origin or persons acting on Origin’s behalf may issue. Annualized, pro forma, adjusted, projected, and estimated numbers are used for illustrative purposes only, are not forecasts, and may not reflect actual results.
This press release contains projected financial information with respect to Origin, including with respect to certain goals and strategic initiatives of Origin and the anticipated benefits thereof. This projected financial information constitutes forward-looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to significant business, economic (including interest rate), competitive, and other risks and uncertainties. Actual results may differ materially from the results contemplated by the projected financial information contained herein and the inclusion of such projected financial information in this release should not be regarded as a representation by any person that such actions will be taken or accomplished or that the results reflected in such projected financial information with respect thereto will be achieved.
Contact:
Investor Relations
Chris Reigelman
318-497-3177
chris@origin.bank
Media Contact
Ryan Kilpatrick
318-232-7472
rkilpatrick@origin.bank
| Origin Bancorp, Inc. Selected Quarterly Financial Data (Unaudited) | |||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||
| Income statement and share amounts | (Dollars in thousands, except per share amounts) | ||||||||||||||||||
| Net interest income | $ | 92,200 | $ | 87,244 | $ | 86,694 | $ | 83,704 | $ | 82,136 | |||||||||
| Provision for credit losses | 65 | 4,965 | 3,158 | 36,820 | 2,862 | ||||||||||||||
| Noninterest income | 15,393 | 16,795 | 16,736 | 26,128 | 1,368 | ||||||||||||||
| Noninterest expense | 64,412 | 63,797 | 62,823 | 62,028 | 61,983 | ||||||||||||||
| Income before income tax expense | 43,116 | 35,277 | 37,449 | 10,984 | 18,659 | ||||||||||||||
| Income tax expense | 9,270 | 7,584 | 7,933 | 2,361 | 4,012 | ||||||||||||||
| Net income | $ | 33,846 | $ | 27,693 | $ | 29,516 | $ | 8,623 | $ | 14,647 | |||||||||
| PTPP earnings(1) | $ | 43,181 | $ | 40,242 | $ | 40,607 | $ | 47,804 | $ | 21,521 | |||||||||
| Basic earnings per common share | 1.10 | 0.89 | 0.95 | 0.28 | 0.47 | ||||||||||||||
| Diluted earnings per common share | 1.09 | 0.89 | 0.95 | 0.27 | 0.47 | ||||||||||||||
| Dividends declared per common share | 0.25 | 0.15 | 0.15 | 0.15 | 0.15 | ||||||||||||||
| Weighted average common shares outstanding - basic | 30,848,905 | 30,942,565 | 30,964,128 | 31,183,092 | 31,192,622 | ||||||||||||||
| Weighted average common shares outstanding - diluted | 31,157,927 | 31,203,348 | 31,168,548 | 31,363,571 | 31,327,818 | ||||||||||||||
| Balance sheet data | |||||||||||||||||||
| Total LHFI | $ | 8,073,577 | $ | 7,864,221 | $ | 7,670,917 | $ | 7,537,099 | $ | 7,684,446 | |||||||||
| Total LHFI excluding mortgage warehouse lines of credit | 7,483,871 | 7,341,931 | 7,142,136 | 7,064,131 | 7,109,698 | ||||||||||||||
| Total assets | 10,276,930 | 10,188,144 | 9,724,722 | 9,791,306 | 9,678,158 | ||||||||||||||
| Total deposits | 8,703,251 | 8,756,268 | 8,307,247 | 8,331,830 | 8,123,036 | ||||||||||||||
| Total stockholders’ equity | 1,281,057 | 1,260,275 | 1,246,685 | 1,214,756 | 1,205,769 | ||||||||||||||
| Performance metrics and capital ratios | |||||||||||||||||||
| Yield on LHFI | 6.14 | % | 6.06 | % | 6.22 | % | 6.33 | % | 6.33 | % | |||||||||
| Yield on interest-earning assets | 5.74 | 5.56 | 5.76 | 5.89 | 5.87 | ||||||||||||||
| Cost of interest-bearing deposits | 2.64 | 2.66 | 2.90 | 3.20 | 3.20 | ||||||||||||||
| Cost of total deposits | 1.99 | 2.05 | 2.20 | 2.46 | 2.47 | ||||||||||||||
| NIM - fully tax equivalent ("FTE") | 3.92 | 3.71 | 3.73 | 3.65 | 3.61 | ||||||||||||||
| Return on average assets (annualized) ("ROAA") | 1.35 | 1.11 | 1.19 | 0.35 | 0.60 | ||||||||||||||
| PTPP ROAA (annualized)(1) | 1.73 | 1.61 | 1.64 | 1.95 | 0.89 | ||||||||||||||
| Return on average stockholders’ equity (annualized) ("ROAE") | 10.64 | 8.86 | 9.50 | 2.79 | 4.94 | ||||||||||||||
| Return on average tangible common equity (annualized) ("ROATCE")(1) | 12.17 | 10.15 | 10.95 | 3.22 | 5.74 | ||||||||||||||
| Book value per common share | $ | 41.52 | $ | 40.81 | $ | 40.28 | $ | 39.23 | $ | 38.62 | |||||||||
| Tangible book value per common share (1) | 36.37 | 35.61 | 35.04 | 33.95 | 33.33 | ||||||||||||||
| Efficiency ratio(2) | 59.87 | % | 61.32 | % | 60.74 | % | 56.48 | % | 74.23 | % | |||||||||
| Common equity tier 1 to risk-weighted assets(3) | 13.42 | 13.60 | 13.54 | 13.59 | 13.47 | ||||||||||||||
| Tier 1 capital to risk-weighted assets(3) | 13.60 | 13.79 | 13.73 | 13.79 | 13.67 | ||||||||||||||
| Total capital to risk-weighted assets(3) | 14.76 | 14.99 | 14.91 | 15.90 | 15.68 | ||||||||||||||
| Tier 1 leverage ratio(3) | 12.05 | 11.74 | 11.86 | 11.69 | 11.70 | ||||||||||||||
_______________________
(1) PTPP earnings, PTPP ROAA, ROATCE and tangible book value per common share are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
(2) Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
(3) Ratios are calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board. June 30, 2026 ratios are estimated
| Origin Bancorp, Inc. Selected Year-To-Date Financial Data (Unaudited) | |||||||
| Six Months Ended June 30, | |||||||
| (Dollars in thousands, except per share amounts) | 2026 | 2025 | |||||
| Income statement and share amounts | |||||||
| Net interest income | $ | 179,444 | $ | 160,595 | |||
| Provision for credit losses | 5,030 | 6,306 | |||||
| Noninterest income | 32,188 | 16,970 | |||||
| Noninterest expense | 128,209 | 124,051 | |||||
| Income before income tax expense | 78,393 | 47,208 | |||||
| Income tax expense | 16,854 | 10,150 | |||||
| Net income | $ | 61,539 | $ | 37,058 | |||
| PTPP earnings(1) | $ | 83,423 | $ | 53,514 | |||
| Basic earnings per common share | 1.99 | 1.19 | |||||
| Diluted earnings per common share | 1.97 | 1.18 | |||||
| Dividends declared per common share | 0.40 | 0.30 | |||||
| Weighted average common shares outstanding - basic | 30,895,477 | 31,199,151 | |||||
| Weighted average common shares outstanding - diluted | 31,199,987 | 31,375,804 | |||||
| Performance metrics | |||||||
| Yield on LHFI | 6.10 | % | 6.33 | % | |||
| Yield on interest-earning assets | 5.65 | 5.83 | |||||
| Cost of interest-bearing deposits | 2.65 | 3.21 | |||||
| Cost of total deposits | 2.02 | 2.49 | |||||
| NIM-FTE | 3.82 | 3.52 | |||||
| ROAA (annualized) | 1.23 | 0.77 | |||||
| PTPP ROAA (annualized)(1) | 1.67 | 1.11 | |||||
| ROAE (annualized) | 9.76 | 6.34 | |||||
| ROATCE (annualized)(1) | 11.17 | 7.38 | |||||
| Efficiency ratio(2) | 60.58 | 69.86 | |||||
_______________________
(1) PTPP earnings, PTPP ROAA, and ROATCE are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
(2) Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
| Origin Bancorp, Inc. Consolidated Quarterly Statements of Income (Unaudited) | |||||||||||||||||
| Three Months Ended | |||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||
| Interest and dividend income | (Dollars in thousands, except per share amounts) | ||||||||||||||||
| Interest and fees on loans | $ | 121,857 | $ | 114,161 | $ | 119,282 | $ | 120,096 | $ | 121,239 | |||||||
| Investment securities-taxable | 9,039 | 8,776 | 8,991 | 8,767 | 7,692 | ||||||||||||
| Investment securities-nontaxable | 1,517 | 1,486 | 1,487 | 1,523 | 1,425 | ||||||||||||
| Interest and dividend income on assets held in other financial institutions | 3,310 | 6,873 | 4,884 | 5,753 | 4,281 | ||||||||||||
| Total interest and dividend income | 135,723 | 131,296 | 134,644 | 136,139 | 134,637 | ||||||||||||
| Interest expense | |||||||||||||||||
| Interest-bearing deposits | 42,001 | 43,702 | 46,510 | 51,026 | 50,152 | ||||||||||||
| FHLB advances and other borrowings | 1,283 | 111 | 102 | 273 | 1,216 | ||||||||||||
| Subordinated indebtedness | 239 | 239 | 1,338 | 1,136 | 1,133 | ||||||||||||
| Total interest expense | 43,523 | 44,052 | 47,950 | 52,435 | 52,501 | ||||||||||||
| Net interest income | 92,200 | 87,244 | 86,694 | 83,704 | 82,136 | ||||||||||||
| Provision for credit losses | 65 | 4,965 | 3,158 | 36,820 | 2,862 | ||||||||||||
| Net interest income after provision for credit losses | 92,135 | 82,279 | 83,536 | 46,884 | 79,274 | ||||||||||||
| Noninterest income | |||||||||||||||||
| Insurance commission and fee income | 6,883 | 9,597 | 5,931 | 6,598 | 6,661 | ||||||||||||
| Service charges and fees | 5,334 | 4,951 | 5,043 | 4,965 | 4,927 | ||||||||||||
| Other fee income | 2,321 | 2,295 | 2,128 | 2,262 | 2,809 | ||||||||||||
| Mortgage banking revenue | 848 | 563 | 680 | 726 | 1,369 | ||||||||||||
| Swap fee income | 32 | 54 | 58 | 1,387 | 1,435 | ||||||||||||
| Change in fair value of equity investments | — | — | — | 6,972 | — | ||||||||||||
| Gain (loss) on sales of securities, net | 1 | — | — | — | (14,448 | ) | |||||||||||
| Equity method investment (loss) income | (612 | ) | (1,517 | ) | 1,859 | 550 | (1,909 | ) | |||||||||
| Other income | 586 | 852 | 1,037 | 2,668 | 524 | ||||||||||||
| Total noninterest income | 15,393 | 16,795 | 16,736 | 26,128 | 1,368 | ||||||||||||
| Noninterest expense | |||||||||||||||||
| Salaries and employee benefits | 40,374 | 38,397 | 37,015 | 37,863 | 38,280 | ||||||||||||
| Occupancy and equipment, net | 7,201 | 6,984 | 6,961 | 7,079 | 7,187 | ||||||||||||
| Data processing | 3,738 | 4,050 | 3,672 | 3,526 | 3,432 | ||||||||||||
| Office and operations | 3,174 | 2,937 | 3,243 | 3,184 | 3,337 | ||||||||||||
| Professional services | 1,809 | 2,649 | 2,703 | 1,395 | 1,285 | ||||||||||||
| Intangible asset amortization | 1,484 | 1,485 | 1,499 | 1,583 | 1,768 | ||||||||||||
| Electronic banking | 935 | 1,442 | 1,545 | 1,470 | 1,359 | ||||||||||||
| Advertising and marketing | 1,650 | 1,360 | 1,746 | 1,524 | 1,158 | ||||||||||||
| Regulatory assessments | 1,364 | 1,335 | 1,528 | 1,269 | 1,345 | ||||||||||||
| Loan-related expenses | 1,045 | 895 | 787 | 979 | 669 | ||||||||||||
| Other expenses | 1,638 | 2,263 | 2,124 | 2,156 | 2,163 | ||||||||||||
| Total noninterest expense | 64,412 | 63,797 | 62,823 | 62,028 | 61,983 | ||||||||||||
| Income before income tax expense | 43,116 | 35,277 | 37,449 | 10,984 | 18,659 | ||||||||||||
| Income tax expense | 9,270 | 7,584 | 7,933 | 2,361 | 4,012 | ||||||||||||
| Net income | $ | 33,846 | $ | 27,693 | $ | 29,516 | $ | 8,623 | $ | 14,647 | |||||||
| Origin Bancorp, Inc. Consolidated Balance Sheets (Unaudited) | |||||||||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | ||||||||||||||
| Assets | |||||||||||||||||||
| Cash and due from banks | $ | 87,315 | $ | 90,641 | $ | 73,122 | $ | 94,062 | $ | 113,918 | |||||||||
| Interest-bearing deposits in banks | 459,216 | 575,562 | 351,095 | 532,847 | 220,193 | ||||||||||||||
| Total cash and cash equivalents | 546,531 | 666,203 | 424,217 | 626,909 | 334,111 | ||||||||||||||
| Securities: | |||||||||||||||||||
| AFS | 1,142,223 | 1,151,402 | 1,117,176 | 1,104,789 | 1,126,721 | ||||||||||||||
| Held to maturity, net of allowance for credit losses | 10,557 | 10,557 | 10,559 | 10,559 | 11,093 | ||||||||||||||
| Securities carried at fair value through income | 5,872 | 6,197 | 6,215 | 6,203 | 6,218 | ||||||||||||||
| Total securities | 1,158,652 | 1,168,156 | 1,133,950 | 1,121,551 | 1,144,032 | ||||||||||||||
| Non-marketable equity securities held in other financial institutions | 37,662 | 31,193 | 31,069 | 31,041 | 75,181 | ||||||||||||||
| Equity method investments | 63,141 | 66,091 | 67,502 | 65,643 | 15,863 | ||||||||||||||
| Loans held for sale | 1,146 | 2,935 | 1,032 | 312 | 8,878 | ||||||||||||||
| LHFI | 8,073,577 | 7,864,221 | 7,670,917 | 7,537,099 | 7,684,446 | ||||||||||||||
| Less: ALCL | 98,188 | 99,015 | 96,782 | 96,259 | 92,426 | ||||||||||||||
| LHFI, net of ALCL | 7,975,389 | 7,765,206 | 7,574,135 | 7,440,840 | 7,592,020 | ||||||||||||||
| Premises and equipment, net | 133,783 | 126,916 | 124,249 | 122,899 | 122,618 | ||||||||||||||
| Cash surrender value of bank-owned life insurance | 42,215 | 41,968 | 41,726 | 41,478 | 41,265 | ||||||||||||||
| Goodwill | 128,679 | 128,679 | 128,679 | 128,679 | 128,679 | ||||||||||||||
| Other intangible assets, net | 30,393 | 31,877 | 33,362 | 34,861 | 36,444 | ||||||||||||||
| Accrued interest receivable and other assets | 159,339 | 158,920 | 164,801 | 177,093 | 179,067 | ||||||||||||||
| Total assets | $ | 10,276,930 | $ | 10,188,144 | $ | 9,724,722 | $ | 9,791,306 | $ | 9,678,158 | |||||||||
| Liabilities and Stockholders’ Equity | |||||||||||||||||||
| Noninterest-bearing deposits | $ | 2,260,015 | $ | 2,062,982 | $ | 1,979,875 | $ | 2,000,324 | $ | 1,841,684 | |||||||||
| Interest-bearing deposits excluding brokered interest-bearing deposits, if any | 5,684,879 | 5,895,932 | 5,497,920 | 5,516,821 | 5,450,710 | ||||||||||||||
| Time deposits | 758,357 | 797,354 | 829,452 | 814,685 | 805,642 | ||||||||||||||
| Brokered deposits | — | — | — | — | 25,000 | ||||||||||||||
| Total deposits | 8,703,251 | 8,756,268 | 8,307,247 | 8,331,830 | 8,123,036 | ||||||||||||||
| FHLB advances and other borrowings | 136,878 | 12,609 | 19,050 | 12,790 | 127,843 | ||||||||||||||
| Subordinated indebtedness | 16,594 | 16,569 | 16,544 | 89,715 | 89,657 | ||||||||||||||
| Accrued expenses and other liabilities | 139,150 | 142,423 | 135,196 | 142,215 | 131,853 | ||||||||||||||
| Total liabilities | 8,995,873 | 8,927,869 | 8,478,037 | 8,576,550 | 8,472,389 | ||||||||||||||
| Stockholders’ equity: | |||||||||||||||||||
| Common stock | 154,252 | 154,397 | 154,762 | 154,839 | 156,124 | ||||||||||||||
| Additional paid-in capital | 530,959 | 532,773 | 533,541 | 532,975 | 537,819 | ||||||||||||||
| Retained earnings | 656,674 | 633,949 | 612,523 | 588,106 | 585,387 | ||||||||||||||
| Accumulated other comprehensive loss | (60,828 | ) | (60,844 | ) | (54,141 | ) | (61,164 | ) | (73,561 | ) | |||||||||
| Total stockholders’ equity | 1,281,057 | 1,260,275 | 1,246,685 | 1,214,756 | 1,205,769 | ||||||||||||||
| Total liabilities and stockholders’ equity | $ | 10,276,930 | $ | 10,188,144 | $ | 9,724,722 | $ | 9,791,306 | $ | 9,678,158 | |||||||||
| Origin Bancorp, Inc. Loan Data (Unaudited) | |||||||||||||||||||
| At and For the Three Months Ended | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||
| LHFI | (Dollars in thousands) | ||||||||||||||||||
| Owner-occupied commercial real estate | $ | 1,048,534 | $ | 999,440 | $ | 1,004,801 | $ | 986,859 | $ | 972,788 | |||||||||
| Non-owner-occupied commercial real estate | 1,583,170 | 1,511,138 | 1,519,104 | 1,520,020 | 1,455,771 | ||||||||||||||
| Construction/land/land development | 698,610 | 641,273 | 611,220 | 615,778 | 653,748 | ||||||||||||||
| Single-family residential real estate | 1,425,285 | 1,442,792 | 1,444,611 | 1,460,696 | 1,465,535 | ||||||||||||||
| Multifamily residential real estate | 568,445 | 555,527 | 553,149 | 540,601 | 529,899 | ||||||||||||||
| Total real estate loans | 5,324,044 | 5,150,170 | 5,132,885 | 5,123,954 | 5,077,741 | ||||||||||||||
| Commercial and industrial | 2,141,623 | 2,173,126 | 1,989,218 | 1,919,782 | 2,011,178 | ||||||||||||||
| Mortgage warehouse lines of credit | 589,706 | 522,290 | 528,781 | 472,968 | 574,748 | ||||||||||||||
| Consumer | 18,204 | 18,635 | 20,033 | 20,395 | 20,779 | ||||||||||||||
| Total LHFI | 8,073,577 | 7,864,221 | 7,670,917 | 7,537,099 | 7,684,446 | ||||||||||||||
| Less: ALCL | 98,188 | 99,015 | 96,782 | 96,259 | 92,426 | ||||||||||||||
| LHFI, net | $ | 7,975,389 | $ | 7,765,206 | $ | 7,574,135 | $ | 7,440,840 | $ | 7,592,020 | |||||||||
| Nonperforming assets(1) | |||||||||||||||||||
| Nonperforming LHFI | |||||||||||||||||||
| Commercial real estate | $ | 15,479 | $ | 19,891 | $ | 13,212 | $ | 11,736 | $ | 12,814 | |||||||||
| Construction/land/land development | 16,365 | 19,427 | 16,388 | 17,047 | 17,720 | ||||||||||||||
| Single-family residential real estate | 35,595 | 37,809 | 39,480 | 41,964 | 35,592 | ||||||||||||||
| Multifamily residential real estate | — | — | — | 2,404 | 2,404 | ||||||||||||||
| Commercial and industrial | 11,015 | 10,074 | 11,919 | 15,043 | 16,655 | ||||||||||||||
| Consumer | 68 | 65 | 185 | 88 | 130 | ||||||||||||||
| Total nonperforming LHFI | 78,522 | 87,266 | 81,184 | 88,282 | 85,315 | ||||||||||||||
| Other real estate owned/repossessed assets | 759 | 1,007 | 694 | 577 | 1,991 | ||||||||||||||
| Total nonperforming assets | $ | 79,281 | $ | 88,273 | $ | 81,878 | $ | 88,859 | $ | 87,306 | |||||||||
| Classified assets | $ | 144,410 | $ | 154,599 | $ | 148,322 | $ | 138,910 | $ | 129,628 | |||||||||
| Past due 30 to 89 days and still accruing | 5,203 | 17,624 | 14,764 | 7,739 | 12,495 | ||||||||||||||
| Allowance for loan credit losses | |||||||||||||||||||
| Balance at beginning of period | $ | 99,015 | $ | 96,782 | $ | 96,259 | $ | 92,426 | $ | 92,011 | |||||||||
| Provision for loan credit losses | (373 | ) | 5,010 | 3,693 | 35,216 | 2,715 | |||||||||||||
| Loans charged off | 2,496 | 3,963 | 4,328 | 32,206 | 3,700 | ||||||||||||||
| Loan recoveries | 2,042 | 1,186 | 1,158 | 823 | 1,400 | ||||||||||||||
| Net charge-offs | 454 | 2,777 | 3,170 | 31,383 | 2,300 | ||||||||||||||
| Balance at end of period | $ | 98,188 | $ | 99,015 | $ | 96,782 | $ | 96,259 | $ | 92,426 | |||||||||
| Credit quality ratios | |||||||||||||||||||
| Total nonperforming assets to total assets | 0.77 | % | 0.87 | % | 0.84 | % | 0.91 | % | 0.90 | % | |||||||||
| Total nonperforming assets to loans & OREO | 0.98 | 1.12 | 1.07 | 1.18 | 1.14 | ||||||||||||||
| Nonperforming LHFI to LHFI | 0.97 | 1.11 | 1.06 | 1.17 | 1.11 | ||||||||||||||
| Past due 30 to 89 days and still accruing to LHFI | 0.06 | 0.22 | 0.19 | 0.10 | 0.16 | ||||||||||||||
| ALCL to nonperforming LHFI | 125.05 | 113.46 | 119.21 | 109.04 | 108.33 | ||||||||||||||
| ALCL to total LHFI | 1.22 | 1.26 | 1.26 | 1.28 | 1.20 | ||||||||||||||
| ALCL to total LHFI excl. mortgage warehouse lines of credit (2) | 1.30 | 1.34 | 1.34 | 1.35 | 1.29 | ||||||||||||||
| Net charge-offs to total average LHFI (annualized) | 0.02 | 0.15 | 0.17 | 1.65 | 0.12 | ||||||||||||||
_______________________
(1) Nonperforming assets consist of nonperforming/nonaccrual loans and property acquired through foreclosures or repossession, as well as bank-owned property not in use and listed for sale, if any.
(2) The ALCL to total LHFI excl. mortgage warehouse lines of credit, is calculated by excluding the ALCL for mortgage warehouse lines of credit loans from the total LHFI ALCL in the numerator and excluding the mortgage warehouse lines of credit loans from the LHFI in the denominator. Due to their low-risk profile, mortgage warehouse lines of credit loans require a disproportionately low allocation of the ALCL.
| Origin Bancorp, Inc. Average Balances and Yields/Rates (Unaudited) | ||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||||||||||||||||||
| Average Balance | Income/ Expense | Yield/ Rate(1) | Average Balance | Income/ Expense | Yield/ Rate(1) | Average Balance | Income/ Expense | Yield/ Rate(1) | ||||||||||||||||||
| Assets | (Dollars in thousands) | |||||||||||||||||||||||||
| Commercial real estate | $ | 2,563,643 | $ | 37,196 | 5.82 | % | $ | 2,506,193 | $ | 35,222 | 5.70 | % | $ | 2,407,632 | $ | 34,668 | 5.78 | % | ||||||||
| Construction/land/land development | 675,151 | 11,603 | 6.89 | 628,332 | 10,402 | 6.71 | 739,601 | 12,759 | 6.92 | |||||||||||||||||
| Single-family residential real estate | 1,428,511 | 19,627 | 5.51 | 1,448,774 | 19,765 | 5.53 | 1,462,025 | 19,904 | 5.46 | |||||||||||||||||
| Multifamily residential real estate | 572,052 | 8,688 | 6.09 | 549,475 | 8,104 | 5.98 | 493,397 | 7,478 | 6.08 | |||||||||||||||||
| Commercial and industrial ("C&I") | 2,212,814 | 36,675 | 6.65 | 2,076,837 | 33,910 | 6.62 | 2,068,175 | 37,619 | 7.30 | |||||||||||||||||
| Mortgage warehouse lines of credit | 483,340 | 7,685 | 6.38 | 406,072 | 6,389 | 6.38 | 480,587 | 8,217 | 6.86 | |||||||||||||||||
| Consumer | 19,158 | 351 | 7.35 | 19,823 | 345 | 7.06 | 21,851 | 397 | 7.29 | |||||||||||||||||
| LHFI | 7,954,669 | 121,825 | 6.14 | 7,635,506 | 114,137 | 6.06 | 7,673,268 | 121,042 | 6.33 | |||||||||||||||||
| Loans held for sale | 2,161 | 32 | 5.94 | 1,712 | 24 | 5.69 | 11,422 | 197 | 6.92 | |||||||||||||||||
| Loans receivable | 7,956,830 | 121,857 | 6.14 | 7,637,218 | 114,161 | 6.06 | 7,684,690 | 121,239 | 6.33 | |||||||||||||||||
| Investment securities-taxable | 992,478 | 9,039 | 3.65 | 1,017,777 | 8,776 | 3.50 | 980,430 | 7,692 | 3.15 | |||||||||||||||||
| Investment securities-nontaxable | 185,851 | 1,517 | 3.27 | 183,691 | 1,486 | 3.28 | 175,101 | 1,425 | 3.26 | |||||||||||||||||
| Non-marketable equity securities held in other financial institutions | 39,526 | 392 | 3.98 | 31,112 | 399 | 5.20 | 77,240 | 1,277 | 6.63 | |||||||||||||||||
| Interest-earning balances due from banks | 309,510 | 2,918 | 3.78 | 713,959 | 6,474 | 3.68 | 276,372 | 3,004 | 4.36 | |||||||||||||||||
| Total interest-earning assets | 9,484,195 | 135,723 | 5.74 | 9,583,757 | 131,296 | 5.56 | 9,193,833 | 134,637 | 5.87 | |||||||||||||||||
| Noninterest-earning assets | 555,512 | 542,734 | 522,090 | |||||||||||||||||||||||
| Total assets | $ | 10,039,707 | $ | 10,126,491 | $ | 9,715,923 | ||||||||||||||||||||
| Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||
| Liabilities | ||||||||||||||||||||||||||
| Interest-bearing liabilities | ||||||||||||||||||||||||||
| Interest-bearing demand deposits | $ | 1,892,759 | $ | 11,051 | 2.34 | % | $ | 2,068,810 | $ | 11,901 | 2.33 | % | $ | 1,888,173 | $ | 13,634 | 2.90 | % | ||||||||
| Money market deposits | 3,420,399 | 24,491 | 2.87 | 3,487,443 | 24,783 | 2.88 | 3,196,349 | 27,752 | 3.48 | |||||||||||||||||
| Savings deposits | 304,088 | 866 | 1.14 | 301,161 | 852 | 1.15 | 324,835 | 1,304 | 1.61 | |||||||||||||||||
| Savings and interest-bearing transaction accounts | 5,617,246 | 36,408 | 2.60 | 5,857,414 | 37,536 | 2.60 | 5,409,357 | 42,690 | 3.17 | |||||||||||||||||
| Time deposits | 765,794 | 5,593 | 2.93 | 811,939 | 6,166 | 3.08 | 868,703 | 7,462 | 3.45 | |||||||||||||||||
| Total interest-bearing deposits | 6,383,040 | 42,001 | 2.64 | 6,669,353 | 43,702 | 2.66 | 6,278,060 | 50,152 | 3.20 | |||||||||||||||||
| FHLB advances and other borrowings | 140,897 | 1,283 | 3.65 | 16,434 | 111 | 2.74 | 111,951 | 1,216 | 4.36 | |||||||||||||||||
| Subordinated indebtedness | 16,582 | 239 | 5.78 | 16,558 | 239 | 5.85 | 89,633 | 1,133 | 5.07 | |||||||||||||||||
| Total interest-bearing liabilities | 6,540,519 | 43,523 | 2.67 | 6,702,345 | 44,052 | 2.67 | 6,479,644 | 52,501 | 3.25 | |||||||||||||||||
| Noninterest-bearing liabilities | ||||||||||||||||||||||||||
| Noninterest-bearing deposits | 2,080,382 | 1,978,098 | 1,881,301 | |||||||||||||||||||||||
| Other liabilities | 143,422 | 178,160 | 164,647 | |||||||||||||||||||||||
| Total liabilities | 8,764,323 | 8,858,603 | 8,525,592 | |||||||||||||||||||||||
| Stockholders’ Equity | 1,275,384 | 1,267,888 | 1,190,331 | |||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 10,039,707 | $ | 10,126,491 | $ | 9,715,923 | ||||||||||||||||||||
| Net interest spread | 3.07 | % | 2.89 | % | 2.62 | % | ||||||||||||||||||||
| NIM | $ | 92,200 | 3.90 | $ | 87,244 | 3.69 | $ | 82,136 | 3.58 | |||||||||||||||||
| NIM-FTE(2) | $ | 92,668 | 3.92 | $ | 87,748 | 3.71 | $ | 82,636 | 3.61 | |||||||||||||||||
_______________________
(1) Yields/Rates are calculated on an actual/actual day count basis.
(2) In order to present pre-tax income and resulting yields on tax-exempt investments comparable to those on taxable investments, a tax-equivalent adjustment has been computed. This adjustment also includes income tax credits received on Qualified School Construction Bonds.
| Origin Bancorp, Inc. Notable Items (Unaudited) | |||||||||||||||||||||||||||||||||||||||
| At and For the Three Months Ended | |||||||||||||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||||||||||||
| $ Impact | EPS Impact(1) | $ Impact | EPS Impact(1) | $ Impact | EPS Impact(1) | $ Impact | EPS Impact(1) | $ Impact | EPS Impact(1) | ||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||||||
| Notable interest income items: | |||||||||||||||||||||||||||||||||||||||
| Interest income reversal related to borrower fraud | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (206 | ) | $ | (0.01 | ) | $ | — | $ | — | |||||||||||||||||
| Notable interest expense items: | |||||||||||||||||||||||||||||||||||||||
| OID amortization - subordinated debenture redemption | — | — | — | — | (783 | ) | (0.02 | ) | — | — | — | — | |||||||||||||||||||||||||||
| Notable provision expense items: | |||||||||||||||||||||||||||||||||||||||
| Provision release (expense) on relationships related to or impacted by questioned banker activity | 18 | — | — | — | (10 | ) | — | (1,670 | ) | (0.04 | ) | — | — | ||||||||||||||||||||||||||
| Provision expense related to borrower fraud | — | — | — | — | (13 | ) | — | (29,545 | ) | (0.74 | ) | — | — | ||||||||||||||||||||||||||
| Notable noninterest income items(2): | |||||||||||||||||||||||||||||||||||||||
| Gain (loss) on sales of securities, net | 1 | — | — | — | — | — | — | — | (14,448 | ) | (0.36 | ) | |||||||||||||||||||||||||||
| Positive valuation adjustment on non-marketable equity securities | — | — | — | — | — | — | 6,972 | 0.18 | — | — | |||||||||||||||||||||||||||||
| Net loss on OREO properties(2) | — | — | — | — | — | — | — | — | (158 | ) | — | ||||||||||||||||||||||||||||
| Insurance recovery income related to questioned banker activity | — | — | 438 | 0.01 | 483 | 0.01 | 2,077 | 0.05 | — | — | |||||||||||||||||||||||||||||
| Notable noninterest expense items: | |||||||||||||||||||||||||||||||||||||||
| Operating benefit (expense) related to questioned banker activity | 325 | 0.01 | (542 | ) | (0.01 | ) | (698 | ) | (0.02 | ) | (112 | ) | — | (530 | ) | (0.01 | ) | ||||||||||||||||||||||
| Operating expense related to strategic Optimize Origin initiatives(4) | — | — | — | — | (51 | ) | — | (577 | ) | (0.01 | ) | (428 | ) | (0.01 | ) | ||||||||||||||||||||||||
| Operating expense related to borrower fraud | (458 | ) | (0.01 | ) | (473 | ) | (0.01 | ) | (587 | ) | (0.01 | ) | (285 | ) | (0.01 | ) | — | — | |||||||||||||||||||||
| Total notable items | $ | (114 | ) | — | $ | (577 | ) | (0.01 | ) | $ | (1,659 | ) | (0.04 | ) | $ | (23,346 | ) | (0.59 | ) | $ | (15,564 | ) | (0.39 | ) | |||||||||||||||
_______________________
(1) The diluted EPS impact is calculated using a
(2) The
(3) The
(4) Operating expenses related to strategic Optimize Origin initiatives are expected to be immaterial and, accordingly, will no longer be separately tracked beginning with the quarter ended March 31, 2026. The
| Origin Bancorp, Inc. Notable Items - Continued (Unaudited) | |||||||||||||||
| Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | ||||||||||||||
| $ Impact | EPS Impact(1) | $ Impact | EPS Impact(1) | ||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||
| Notable interest expense items: | |||||||||||||||
| OID amortization - subordinated debenture redemption | $ | — | $ | — | $ | (681 | ) | $ | (0.02 | ) | |||||
| Notable provision expense items: | |||||||||||||||
| Provision release on relationships related to or impacted by questioned banker activity | 18 | — | 375 | 0.01 | |||||||||||
| Notable noninterest income items: | |||||||||||||||
| Gain (loss) on sales of securities, net | 1 | — | (14,448 | ) | (0.36 | ) | |||||||||
| Net loss on OREO properties(2) | — | — | (370 | ) | (0.01 | ) | |||||||||
| BOLI payout | — | — | 208 | 0.01 | |||||||||||
| Insurance recovery income related to questioned banker activity | 438 | 0.01 | — | — | |||||||||||
| Notable noninterest expense items: | |||||||||||||||
| Operating expense related to questioned banker activity(3) | (217 | ) | (0.01 | ) | (1,073 | ) | (0.03 | ) | |||||||
| Operating expense related to strategic Optimize Origin initiatives(4) | — | — | (2,043 | ) | (0.05 | ) | |||||||||
| Operating expense related to borrower fraud | (931 | ) | (0.02 | ) | — | — | |||||||||
| Employee Retention Credit | — | — | 213 | 0.01 | |||||||||||
| Total notable items | $ | (691 | ) | (0.02 | ) | $ | (17,819 | ) | (0.45 | ) | |||||
_______________________
(1) The diluted EPS impact is calculated using a
(2) The
(3) The
(4) Operating expenses related to strategic Optimize Origin initiatives are expected to be immaterial and accordingly, will no longer be separately tracked beginning with the quarter ended March 31, 2026.
| Origin Bancorp, Inc. Non-GAAP Financial Measures (Unaudited) | |||||||||||||||||||
| At and For the Three Months Ended | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||
| Calculation of PTPP earnings: | |||||||||||||||||||
| Net income | $ | 33,846 | $ | 27,693 | $ | 29,516 | $ | 8,623 | $ | 14,647 | |||||||||
| Provision for credit losses | 65 | 4,965 | 3,158 | 36,820 | 2,862 | ||||||||||||||
| Income tax expense | 9,270 | 7,584 | 7,933 | 2,361 | 4,012 | ||||||||||||||
| PTPP earnings (non-GAAP) | $ | 43,181 | $ | 40,242 | $ | 40,607 | $ | 47,804 | $ | 21,521 | |||||||||
| Calculation of PTPP ROAA: | |||||||||||||||||||
| PTPP earnings | $ | 43,181 | $ | 40,242 | $ | 40,607 | $ | 47,804 | $ | 21,521 | |||||||||
| Divided by number of days in the quarter | 91 | 90 | 92 | 92 | 91 | ||||||||||||||
| Multiplied by the number of days in the year | 365 | 365 | 365 | 365 | 365 | ||||||||||||||
| PTPP earnings, annualized | $ | 173,199 | $ | 163,204 | $ | 161,104 | $ | 189,657 | $ | 86,320 | |||||||||
| Divided by total average assets | 10,039,707 | 10,126,491 | 9,829,752 | 9,727,414 | 9,715,923 | ||||||||||||||
| ROAA (annualized) (GAAP) | 1.35 | % | 1.11 | % | 1.19 | % | 0.35 | % | 0.60 | % | |||||||||
| PTPP ROAA (annualized) (non-GAAP) | 1.73 | 1.61 | 1.64 | 1.95 | 0.89 | ||||||||||||||
| Calculation of tangible book value per common share: | |||||||||||||||||||
| Total common stockholders’ equity | $ | 1,281,057 | $ | 1,260,275 | $ | 1,246,685 | $ | 1,214,756 | $ | 1,205,769 | |||||||||
| Goodwill | (128,679 | ) | (128,679 | ) | (128,679 | ) | (128,679 | ) | (128,679 | ) | |||||||||
| Other intangible assets, net | (30,393 | ) | (31,877 | ) | (33,362 | ) | (34,861 | ) | (36,444 | ) | |||||||||
| Tangible common equity | 1,121,985 | 1,099,719 | 1,084,644 | 1,051,216 | 1,040,646 | ||||||||||||||
| Divided by common shares outstanding at the end of the period | 30,850,397 | 30,879,462 | 30,952,428 | 30,967,768 | 31,224,718 | ||||||||||||||
| Book value per common share (GAAP) | $ | 41.52 | $ | 40.81 | $ | 40.28 | $ | 39.23 | $ | 38.62 | |||||||||
| Tangible book value per common share (non-GAAP) | 36.37 | 35.61 | 35.04 | 33.95 | 33.33 | ||||||||||||||
| Calculation of ROATCE: | |||||||||||||||||||
| Net income | $ | 33,846 | $ | 27,693 | $ | 29,516 | $ | 8,623 | $ | 14,647 | |||||||||
| Divided by number of days in the quarter | 91 | 90 | 92 | 92 | 91 | ||||||||||||||
| Multiplied by number of days in the year | 365 | 365 | 365 | 365 | 365 | ||||||||||||||
| Annualized net income | $ | 135,756 | $ | 112,311 | $ | 117,102 | $ | 34,211 | $ | 58,749 | |||||||||
| Total average common stockholders’ equity | $ | 1,275,384 | $ | 1,267,888 | $ | 1,232,878 | $ | 1,227,431 | $ | 1,190,331 | |||||||||
| Average goodwill | (128,679 | ) | (128,679 | ) | (128,679 | ) | (128,679 | ) | (128,679 | ) | |||||||||
| Average other intangible assets, net | (31,142 | ) | (32,679 | ) | (34,293 | ) | (35,741 | ) | (37,459 | ) | |||||||||
| Average tangible common equity | 1,115,563 | 1,106,530 | 1,069,906 | 1,063,011 | 1,024,193 | ||||||||||||||
| ROAE (annualized) (GAAP) | 10.64 | % | 8.86 | % | 9.50 | % | 2.79 | % | 4.94 | % | |||||||||
| ROATCE (annualized) (non-GAAP) | 12.17 | 10.15 | 10.95 | 3.22 | 5.74 | ||||||||||||||
| Origin Bancorp, Inc. Non-GAAP Financial Measures - Continued (Unaudited) | |||||||
| Six Months Ended June 30, | |||||||
| 2026 | 2025 | ||||||
| (Dollars in thousands, except per share amounts) | |||||||
| Calculation of PTPP earnings: | |||||||
| Net income | $ | 61,539 | $ | 37,058 | |||
| Provision for credit losses | 5,030 | 6,306 | |||||
| Income tax expense | 16,854 | 10,150 | |||||
| PTPP earnings (non-GAAP) | $ | 83,423 | $ | 53,514 | |||
| Calculation of PTPP ROAA: | |||||||
| PTPP Earnings | $ | 83,423 | $ | 53,514 | |||
| Divided by the year-to-date number of days | 181 | 181 | |||||
| Multiplied by number of days in the year | 365 | 365 | |||||
| Annualized PTPP Earnings | $ | 168,229 | $ | 107,915 | |||
| Total average assets | $ | 10,082,859 | $ | 9,761,814 | |||
| ROAA(annualized)(GAAP) | 1.23 | % | 0.77 | % | |||
| PTPP ROAA(annualized)(non-GAAP) | 1.67 | 1.11 | |||||
| Calculation of ROATCE: | |||||||
| Net income | $ | 61,539 | $ | 37,058 | |||
| Divided by the year-to-date number of days | 181 | 181 | |||||
| Multiplied by number of days in the year | 365 | 365 | |||||
| Annualized net income | $ | 124,098 | $ | 74,730 | |||
| Total average common stockholders’ equity | $ | 1,271,657 | $ | 1,178,605 | |||
| Average goodwill | (128,679 | ) | (128,679 | ) | |||
| Average other intangible assets, net | (31,906 | ) | (37,854 | ) | |||
| Average tangible common equity | 1,111,072 | 1,012,072 | |||||
| ROAE(annualized)(GAAP) | 9.76 | % | 6.34 | % | |||
| ROATCE(annualized)(non-GAAP) | 11.17 | 7.38 | |||||
