Origin Bancorp, Inc. Announces Exit from Small Business Lending Fund
The aggregate redemption price of the SBLF Preferred Stock was approximately
“The SBLF program provided a good source of capital for healthy and growing banks like ours to continue to be a reliable source of credit for small businesses during and coming out of the economic recession,” said
Origin also announced that it had effected the conversion of all of the 901,644 shares of its outstanding Series D preferred stock into shares of its common stock, on a one-for-one basis, effective
Origin is a financial holding company for
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable of a future or forward-looking nature. These forward-looking statements are not historical facts, but instead represent Origin’s current expectations and assumptions regarding its business, the economy and other future conditions. Accordingly, by their nature, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, and actual results may differ materially from those contemplated by the forward-looking statements. Accordingly, you are cautioned against relying on any of these forward-looking statements, which are neither statements of historical fact, nor guarantees or assurances of future performance.
There are or will be important factors that could cause Origin’s actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: prevailing business and economic conditions generally and in the financial services industry, nationally and within Origin’s local markets; Origin’s ability to prudently manage growth and execute its strategy; changes in interest rates, loan demand, real estate values and competition, any of which can materially affect loan origination levels, as well as other aspects of Origin’s financial performance, including earnings on interest-bearing assets; the level of defaults, losses and prepayments on loans made by Origin, whether held in portfolio or sold in the secondary markets; changes in the laws, rules, regulations, interpretations or policies relating to financial institution, accounting, tax, trade, monetary and fiscal matters; competition for customers, qualified personnel and desirable office locations; natural disasters and adverse weather, acts of terrorism, or other international or domestic calamities; and other factors that are discussed in the section titled "Risk Factors" in Origin's prospectus filed with the
The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in the documents filed by Origin with the
Source: Origin Bancorp, Inc.