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Origin Bancorp, Inc. (Nasdaq: OBNK) plans to release its third quarter 2020 financial results on October 28, 2020. A conference call to discuss these results will take place on October 29, 2020, at 8:00 AM CT. The call will be hosted by key executives including Chairman and CEO Drake Mills and CFO Steve Brolly. Investors can participate by calling (844) 695-5516 or accessing a live webcast on Origin's website. The information will also be archived for later access.
Origin Bancorp, Inc. (Nasdaq: OBNK) has priced an underwritten public offering of $80 million in 4.50% Fixed-to-Floating Rate Subordinated Notes due 2030. The initial fixed interest rate is set at 4.50%, transitioning to a floating rate from November 2025. The offering is expected to close on October 16, 2020, and will fund general corporate purposes, including supporting balance sheet growth and potential acquisitions. Stephens Inc. is managing the offering. Additional details are available in the company's SEC filings.
Origin Bancorp (OBNK) reported net income of $5.0 million for Q2 2020, up $4.2 million from Q1 2020 but down $7.3 million year-over-year. Diluted EPS was $0.21, reflecting a significant increase from $0.03 in Q1 but a drop from $0.52 in Q2 2019. Pre-tax pre-provision earnings reached a historic high of $27.1 million, a 44% rise from the previous quarter. Total loans grew to $5.31 billion, an 18.5% increase quarter-over-quarter. The total deposits rose by 17.9% to $5.37 billion. However, the provision expense increased to $21.4 million, reflecting economic challenges due to COVID-19.
Origin Bancorp, Inc. (Nasdaq: OBNK) announced a quarterly cash dividend of $0.0925 per share on July 22, 2020. The dividend payment is scheduled for August 31, 2020, to stockholders recorded as of August 14, 2020. Origin is a financial holding company providing services across Texas, Louisiana, and Mississippi, with a focus on small to medium-sized businesses and retail clients.
Origin Bancorp, Inc. (Nasdaq: OBNK) will announce its second quarter 2020 results on July 22, 2020, after market close. A conference call is scheduled for July 23, 2020, at 8:00 a.m. CT (9:00 a.m. ET), featuring executives including Chairman Drake Mills and CFO Steve Brolly. Participants can join the call by dialing (844) 695-5516 or (412) 902-6750 internationally. A webcast of the call will also be available on Origin's website, with an archive for those unable to attend the live session.