$OBK

Origin Bancorp, Inc.

CIK:0001516912|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income
Interest and fees on loans	$ 121,857	$ 121,239	$ 236,018	$ 238,314
Investment securities-taxable	9,039	7,692	17,815	15,768
Investment securities-nontaxable	1,517	1,425	3,003	2,393
Interest and dividend income on assets held in other financial institutions	3,310	4,281	10,183	10,705
Total interest and dividend income	135,723	134,637	267,019	267,180
Interest expense
Interest-bearing deposits	42,001	50,152	85,703	101,931
FHLB advances and other borrowings	1,283	1,216	1,394	1,312
Subordinated indebtedness	239	1,133	478	3,342
Total interest expense	43,523	52,501	87,575	106,585
Net interest income	92,200	82,136	179,444	160,595
Provision for credit losses	65	2,862	5,030	6,306
Net interest income after provision for credit losses	92,135	79,274	174,414	154,289
Noninterest income
Other fee income	2,321	2,809	4,616	5,110
Mortgage banking revenue	848	1,369	1,411	2,284
Swap fee income	32	1,435	86	1,968
Gain (loss) on sales of securities, net	1	(14,448)	1	(14,448)
Equity method investment loss	(612)	(1,909)	(2,129)	(3,601)
Other income	586	524	1,438	1,426
Total noninterest income	15,393	1,368	32,188	16,970
Noninterest expense
Salaries and employee benefits	40,374	38,280	78,771	76,011
Occupancy and equipment, net	7,201	7,187	14,185	15,731
Data processing	3,738	3,432	7,788	6,389
Office and operations	3,174	3,337	6,111	6,309
Professional services	1,809	1,285	4,458	2,535
Intangible asset amortization	1,484	1,768	2,969	3,529
Electronic banking	935	1,359	2,377	2,713
Advertising and marketing	1,650	1,158	3,010	2,291
Regulatory assessments	1,364	1,345	2,699	2,737
Loan-related expense	1,045	669	1,940	1,268
Other expense	1,638	2,163	3,901	4,538
Total noninterest expense	64,412	61,983	128,209	124,051
Income before income tax expense	43,116	18,659	78,393	47,208
Income tax expense	9,270	4,012	16,854	10,150
Net income	$ 33,846	$ 14,647	$ 61,539	$ 37,058
Basic earnings per common share (in dollars per share)	$ 1.10	$ 0.47	$ 1.99	$ 1.19
Diluted earnings per common share (in dollars per share)	$ 1.09	$ 0.47	$ 1.97	$ 1.18
Insurance commission and fee income
Noninterest income
Revenue from contracts with customers	$ 6,883	$ 6,661	$ 16,480	$ 14,588
Service charges and fees
Noninterest income
Revenue from contracts with customers	$ 5,334	$ 4,927	$ 10,285	$ 9,643

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 61,539	$ 37,058
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	5,030	6,306
Depreciation and amortization	7,573	9,273
Net amortization on securities	183	1,422
Amortization of net premium/discount on purchased loans	106	40
Amortization of investments in tax credit funds	513	495
(Gain) loss on sale of securities, net	(1)	14,448
Equity method investment loss	2,129	3,561
Deferred income tax expense (benefit)	866	(591)
Stock-based compensation expense	4,920	3,882
Originations of mortgage loans held for sale	(64,561)	(89,252)
Proceeds from mortgage loans held for sale	65,724	89,580
Gain on mortgage loans held for sale	(1,288)	(2,463)
Net gain on disposals of premises and equipment	0	(75)
Increase in the cash surrender value of life insurance	(489)	(633)
Employee Retention Credit received	0	1,863
Net loss on sales and write-downs of other real estate owned	60	652
Net change in operating leases	309	507
Increase in other assets	(5,336)	(17,758)
Increase (decrease) in other liabilities	15,608	(2,121)
Net cash provided by operating activities	92,885	56,194
Cash flows from investing activities:
Purchases of securities available for sale	(1,626,507)	(304,788)
Maturities and pay downs of securities available for sale	1,567,709	91,771
Proceeds from sales and calls of securities available for sale	24,209	214,979
Pay downs of securities carried at fair value	330	315
Redemption of non-marketable equity securities held in other financial institutions	7,297	5,486
Purchases of non-marketable equity securities held in other financial institutions	(13,772)	(8,875)
Originations of mortgage warehouse loans	(5,677,095)	(4,864,014)
Proceeds from pay-offs of mortgage warehouse loans	5,616,170	4,638,346
Net (increase) decrease in loans, excluding mortgage warehouse and loans held for sale	(345,729)	108,902
Purchase of other intangibles	0	(2,500)
Proceeds from bank-owned life insurance	0	208
Return of capital and other distributions from equity method investments	2,338	673
Return of capital and other distributions from cost method investments	17	19
Capital calls on limited partnership investments	(244)	(2,324)
Purchase of low-income housing tax credit investments	(461)	(134)
Purchases of premises and equipment	(14,138)	(1,778)
Proceeds from sales of premises and equipment	0	111
Proceeds from sales of other real estate owned	532	1,724
Transfers of other real estate owned to other assets	0	168
Net cash used in investing activities	(459,344)	(121,711)
Cash flows from financing activities:
Net increase (decrease) in deposits	396,004	(100,084)
Repayments of long-term FHLB advances	(564)	(141)
Proceeds from short-term FHLB advances	3,845,000	1,315,000
Repayments of short-term FHLB advances	(3,720,000)	(1,200,000)
Redemption/Repurchase of subordinated indebtedness	0	(72,593)
Proceeds from other short-term borrowings	82,285	116,724
Repayments of other short-term borrowings	(82,285)	(116,724)
Net (decrease) increase in securities sold under agreements to repurchase	(6,608)	524
Dividends paid	(12,544)	(9,479)
Cash received from exercise of stock options	4,430	534
Common stock repurchased	(16,945)	(4,382)
Net cash provided by (used in) financing activities	488,773	(70,621)
Net increase (decrease) in cash and cash equivalents	122,314	(136,138)
Cash and cash equivalents at beginning of period	424,217	470,249
Cash and cash equivalents at end of period	546,531	334,111
Interest paid	88,002	109,762
Income taxes paid, total	15,834	25,162
Significant non-cash transactions:
Unsettled liability for investment purchases recorded at trade date	0	736
Real estate acquired in settlement of loans	657	970
Recognition of operating right-of-use assets	1,423	3,208
Recognition of operating lease liabilities	1,440	3,203
Impairment of right-of-use assets due to branch closures	$ (38)	$ (332)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 87,315	$ 73,122
Interest-earning deposits in banks	459,216	351,095
Total cash and cash equivalents	546,531	424,217
Securities:
Available for sale	1,142,223	1,117,176
Held to maturity, net of allowance for credit losses of $38 and $41 at June 30, 2026, and December 31, 2025, respectively (fair value of $9,074 and $9,607 at June 30, 2026, and December 31, 2025, respectively)	10,557	10,559
Securities carried at fair value through income	5,872	6,215
Total securities	1,158,652	1,133,950
Non-marketable equity securities held in other financial institutions	37,662	31,069
Equity method investments	63,141	67,502
Loans held for sale	1,146	1,032
Loans, net of allowance for credit losses of $98,188 and $96,782 at June 30, 2026, and December 31, 2025, respectively	7,975,389	7,574,135
Premises and equipment, net	133,783	124,249
Cash surrender value of bank-owned life insurance	42,215	41,726
Goodwill	128,679	128,679
Other intangible assets, net	30,393	33,362
Accrued interest receivable and other assets	159,339	164,801
Total assets	10,276,930	9,724,722
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	2,260,015	1,979,875
Interest-bearing deposits	5,684,879	5,497,920
Time deposits	758,357	829,452
Total deposits	8,703,251	8,307,247
Federal Home Loan Bank (“FHLB”) advances, repurchase agreements and other borrowings	136,878	19,050
Subordinated indebtedness, net	16,594	16,544
Accrued expenses and other liabilities	139,150	135,196
Total liabilities	8,995,873	8,478,037
Stockholders’ equity:
Common stock ($5.00 par value; 50,000,000 shares authorized; 30,850,397 and 30,952,428 shares issued at June 30, 2026, and December 31, 2025, respectively)	154,252	154,762
Additional paid‑in capital	530,959	533,541
Retained earnings	656,674	612,523
Accumulated other comprehensive loss	(60,828)	(54,141)
Total stockholders’ equity	1,281,057	1,246,685
Total liabilities and stockholders’ equity	$ 10,276,930	$ 9,724,722