RUSTON, La., Jan. 28, 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 $29.5 million, or $0.95 diluted earnings per share (“EPS”) for the quarter ended December 31, 2025, compared to net income of $8.6 million, or $0.27 diluted EPS, for the quarter ended September 30, 2025. Pre-tax, pre-provision (“PTPP”)⁽¹⁾ earnings were $40.6 million for the quarter ended December 31, 2025, compared to $47.8 million for the linked quarter.

Net income for the year ended December 31, 2025, was $75.2 million, or $2.40 diluted EPS, representing a decrease of $0.05, or 2.0%, from diluted EPS of $2.45 for the year ended December 31, 2024. PTPP⁽¹⁾ earnings for the year ended December 31, 2025, were $141.9 million, representing an increase of $37.2 million, or 35.5%, from the year ended December 31, 2024.

“This quarter we reported diluted earnings per share of $0.95 and net income of $29.5 million, which drives a return on average assets of 1.19% for the quarter, well above the targeted 1.0%-plus run rate that we outlined as our near term target last January,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “I am proud of our team and the results we delivered throughout the year. We have a tremendous amount of momentum as we remain focused on Optimize Origin and delivering long-term growth and value for our stakeholders.”

⁽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 initiative to drive elite financial performance and enhance our award-winning culture.
• Built on three primary pillars:
• Productivity, Delivery & Efficiency
  • Balance Sheet Optimization
  • Culture & Employee Engagement
  • In 4Q25, we exceeded our original goal in delivering a 4Q25 ROAA run rate of 1.19%.
• Optimize Origin remains an important part of our corporate DNA as we continue towards our ultimate target of a top quartile ROAA. To this end, we have updated our near term ROAA run rate target to 1.15% or higher by 4Q26.
  

Financial Highlights

• Net income was $29.5 million for the quarter ended December 31, 2025, reflecting an increase of $20.9 million, or 242.3%, compared to the linked quarter.
• Net interest income was $86.7 million for the quarter ended December 31, 2025, reflecting an increase of $3.0 million, or 3.6%, compared to the linked quarter and is at its highest level ever recorded in our history.
• Annualized ROAA was 1.19% for the quarter ended December 31, 2025, reflecting an increase of 84 basis points, or 240.0%, compared to the quarter ended September 30, 2025. PTPP ROAA⁽¹⁾, annualized, was 1.64% for the quarter ended December 31, 2025, reflecting a decrease of 31 basis points, or 15.9%, compared to the quarter ended September 30, 2025.
• Our fully tax equivalent net interest margin (“NIM-FTE”) expanded eight basis points to 3.73% for the quarter ended December 31, 2025, compared to the quarter ended September 30, 2025, its highest level since the quarter ended December 31, 2022.
• Total loans held for investment (“LHFI”) were $7.67 billion at December 31, 2025, reflecting an increase of $133.8 million, or 1.8%, compared to September 30, 2025. LHFI, excluding mortgage warehouse lines of credit (“MW LOC”), were $7.14 billion at December 31, 2025, reflecting an increase of $78.0 million, or 1.1%, compared to September 30, 2025.
• Total deposits were $8.31 billion at December 31, 2025, reflecting a decrease of $24.6 million, or 0.3%, compared to September 30, 2025. We sold $215.0 million of interest-bearing deposits on December 31, 2025, which were immediately repurchased on January 2, 2026. Excluding the impact of this sale, total deposits would have been $8.52 billion at December 31, 2025, reflecting an increase of $190.4 million, or 2.3%, compared to September 30, 2025.
• During the quarter ended December 31, 2025, we repurchased 49,358 shares of our common stock at an average price of $38.77 per share, including commissions and applicable excise taxes. Year-to-date, we have repurchased 451,005 shares of our common stock at an average price of $35.05 per share.
• Book value per common share was $40.28 at December 31, 2025, reflecting an increase of $1.05, or 2.7%, compared to September 30, 2025, and $3.57, or 9.7%, compared to December 31, 2024. Tangible book value per common share⁽¹⁾ was $35.04 at December 31, 2025, reflecting increases of $1.09, or 3.2%, compared to September 30, 2025 and $3.66, or 11.7%, compared to December 31, 2024.

⁽¹⁾ Tangible book value per common share and PTPP ROAA are non-GAAP financial measures. See the reconciliation of each of these alternative financial measures to its most directly comparable GAAP measure beginning on page 19 of this document.

Results of Operations for the Quarter Ended December 31, 2025

Net Interest Income and Net Interest Margin

Net interest income for the quarter ended December 31, 2025, was $86.7 million, an increase of $3.0 million, or 3.6%, compared to the quarter ended September 30, 2025. The total increase in net interest income was primarily driven by a $4.5 million decrease in interest expense, partially offset by a $1.5 million decrease in interest income.

The $4.5 million decrease in interest expense was mainly attributable to a $4.3 million reduction in interest expense on savings and interest-bearing transaction accounts, driven primarily by a $2.6 million decrease in money market deposit interest expense and a $1.4 million decrease in interest expense on interest-bearing demand accounts, mainly due to lower interest rates, when compared to the quarter ended September 30, 2025. The average rate on money market deposits declined 40 basis points to 3.10% for the three months ended December 31, 2025, from 3.50% for the three months ended September 30, 2025. The average rate on interest-bearing demand deposits decreased 26 basis points to 2.60% for the three months ended December 31, 2025, from 2.86% for the three months ended September 30, 2025. Included in interest expense was the accelerated recognition of $783,000 of the original issue discount amortization associated with the redemption of our subordinated debentures during the quarter ended December 31, 2025.

The $1.5 million decrease in interest income was primarily due to decreases of $797,000 and $776,000 in interest income on loans held for investment and interest-earning balances due from banks, respectively, compared to the three months ended September 30, 2025. The decrease in interest income on loans held for investment was mainly attributable to a $1.8 million decline in interest income on commercial and industrial loans mainly due to lower interest rates, partially offset by a $1.1 million increase in interest income from higher average balances in commercial real estate loans. The average rate on commercial and industrial loans held for investment declined 33 basis points to 6.89% for the three months ended December 31, 2025, from 7.22% for the three months ended September 30, 2025. The average commercial real estate loan balances increased $73.3 million during the three months ended December 31, 2025 compared to the three months ended September 30, 2025. The decrease in interest income on interest-earning balances due from banks was attributable to a combination of lower average balances and lower market interest rates during the current quarter, compared to the quarter ended September 30, 2025.

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 3.50% to 3.75%, decreasing the federal funds target range for the fifth and sixth times for a total of 175 basis points from its recent cycle high set in mid-2023.

Our NIM-FTE was 3.73% for the quarter ended December 31, 2025, representing eight- and 40-basis-point increases compared to the linked quarter and the quarter ended December 31, 2024, respectively. The yield earned on interest-earning assets was 5.76% for the quarter ended December 31, 2025, representing decreases of 13- and 15-basis points compared to the linked quarter and the quarter ended December 31, 2024, respectively. The average rate paid on total interest-bearing liabilities for the quarter ended December 31, 2025, was 2.96%, representing a reduction of 26- and 68-basis points compared to the linked quarter and the quarter ended December 31, 2024, respectively.

Credit Quality

The table below includes key credit quality information:

	At and For the Three Months Ended												Change				% Change
(Dollars in thousands, unaudited)	December 31, 2025				September 30, 2025				December 31, 2024				Linked Quarter				Linked Quarter
Past due LHFI(1)	$	73,601			$	72,512			$	42,437			$	1,089			1.5	%
Past due 30 to 89 days and still accruing		14,764				7,739				18,015				7,025			90.8
Allowance for loan credit losses (“ALCL”)		96,782				96,259				91,060				523			0.5
Total nonperforming LHFI		81,184				88,282				75,002				(7,098	)		(8.0	)
Provision (benefit) for credit losses		3,158				36,820				(5,398	)			(33,662	)		(91.4	)
Net charge-offs (recoveries)		3,170				31,383				(560	)			(28,213	)		(89.9	)
Credit quality ratios(2):
ALCL to nonperforming LHFI		119.21	%			109.04	%			121.41	%			10.17	%		N/A
ALCL to total LHFI		1.26				1.28				1.20				(0.02	)		N/A
ALCL to total LHFI, adjusted(3)		1.34				1.35				1.25				(0.01	)		N/A
Nonperforming LHFI to LHFI		1.06				1.17				0.99				(0.11	)		N/A
Net charge-offs (recoveries) to total average LHFI (annualized)		0.17				1.65				(0.03	)			(1.48	)		N/A

___________________________
N/A = Not applicable.
⁽¹⁾   Past due LHFI are defined as loans 30 days or more past due and includes past due nonperforming loans.
⁽²⁾   Please see the Loan Data schedule at the back of this document for additional information.
⁽³⁾   The ALCL to total LHFI, adjusted, is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.

Our results included a credit loss provision expense of $3.2 million during the quarter ended December 31, 2025, which includes a $3.7 million provision for loan credit losses, compared to provision for loan credit losses of $35.2 million for the linked quarter. During the current quarter, a $1.1 million off-balance sheet commitment related to the Tricolor Holdings, LLC borrower fraud, which was previously disclosed in our Current Report on Form 8-K filed on September 10, 2025, was drawn and subsequently charged off. This transaction had the effect of reducing the off-balance sheet provision on Tricolor Holdings, LLC commitments from $1.5 million to $400,000 and increasing the provision for loan credit loss by the same amount, thereby resulting in a net zero impact to total provision expense. Additionally, the decrease in total credit loss provision was primarily related to the borrower fraud impacting the Tricolor Holdings, LLC loan relationship, and drove a $29.5 million increase in the total provision, consisting of a $28.1 million provision for loan credit losses and a $1.5 million provision for off-balance sheet commitments, during the linked quarter. Also contributing to the decrease in provision for loan credit losses was a $1.7 million provision for relationships impacted by the questioned banker activity first disclosed during the quarter ended June 30, 2024, which was recorded during the linked quarter. Our provision for loan credit losses, exclusive of these events, would have been $5.5 million for the quarter ended September 30, 2025, representing a $1.8 million decrease, comparing the current quarter to the linked quarter.

Total nonperforming LHFI decreased $7.1 million at December 31, 2025, when compared to September 30, 2025. The decrease was primarily due to the payoff of two loans totaling $5.8 million in the residential sector, partially offset by an increase of $2.7 million for a commercial real estate loan that is now nonperforming. Also contributing to the decrease was a charge-off during the current quarter totaling $1.7 million related to one commercial and industrial relationship. The remaining change was made up of smaller, more granular loan amounts.

Past due 30 to 89 days and still accruing increased $7.0 million at December 31, 2025, when compared to September 30, 2025, primarily due to an increase of $7.6 million in residential real estate loans. Also contributing to the increase is one commercial real estate relationship totaling $4.2 million that was current in the linked quarter. These increases were partially offset by a decrease of $2.7 million from one commercial real estate relationship that transitioned out of 30 to 89 and still accruing into nonaccrual.

Net charge-offs decreased $28.2 million for the quarter ended December 31, 2025, when compared to the quarter ended September 30, 2025, primarily due to net charge-offs of $28.4 million in the linked quarter related to the relationship with Tricolor Holdings, LLC, discussed above, for which we are pursuing all possible opportunities for recovery.

Noninterest Income

Noninterest income for the quarter ended December 31, 2025, was $16.7 million, a decrease of $9.4 million from the linked quarter, primarily driven by decreases of $7.0 million, $1.6 million and $1.3 million in changes in fair value of equity investments, other income and swap fee income, respectively. These decreases were partially offset by an increase of $1.3 million in equity method investment income.

The $7.0 million decrease in the fair value of equity method investments was driven by the additional investment in Argent Financial in the linked quarter, which increased our ownership percentage above the threshold required to implement the equity method of accounting. The equity method of accounting requires the asset be recorded at fair value immediately prior to the purchase, requiring an upward adjustment to its basis.

The $1.6 million decrease in other income was due to $2.1 million in insurance recoveries in connection with the previously disclosed questioned banker activity in the linked quarter, compared to $483,000 in insurance recoveries in the current quarter.

The $1.3 million decrease in swap fee income was primarily due to a decrease in swap volume in the current quarter when compared to the linked quarter.

The $1.3 million increase in equity method investment income (loss) was primarily driven by an increase of $753,000 in Argent equity method investment income. Also contributing to the increase was a $481,000 upward adjustment in one limited partnership investment during the current quarter.

The components of equity method investment income are as follows:

	At and For the Three Months Ended												Change			% Change
(Dollars in thousands, unaudited)	December 31, 2025				September 30, 2025				December 31, 2024				Linked Quarter			Linked Quarter
Argent investment income	$	1,980			$	1,227			$	—			$	753		N/M
Limited partnership investment (loss) income		(121	)			(677	)			(62	)			556		82.1	%
Total equity method investment income (loss)	$	1,859			$	550			$	(62	)

___________________________
N/M = Not meaningful

Noninterest Expense

Noninterest expense for the quarter ended December 31, 2025, was $62.8 million, an increase of $795,000, or 1.3% from the linked quarter. The increase was primarily due to an increase of $1.3 million in professional services, partially offset by a decrease of $848,000 in salaries and employee benefits expense.

The $1.3 million increase in professional services was primarily driven by an increase of $590,000 in consultant expense related to technology contract renegotiations. Also contributing was a $586,000 and $129,000 increase in expense related to the previously disclosed questioned banker activity and borrower fraud, respectively.

The $848,000 decrease in salaries and employee benefits was driven by a $607,000 decrease in incentive compensation expense resulting from a downward accrual adjustment in the current quarter.

Financial Condition

Loans

• Total LHFI at December 31, 2025, were $7.67 billion, an increase of $133.8 million, or 1.8%, from $7.54 billion at September 30, 2025, and an increase of $97.2 million, or 1.3%, compared to December 31, 2024.
• Excluding MW LOC, LHFI increased $78.0 million, or 1.1%, from September 30, 2025. The increase was primarily driven by increases of $69.4 million and $17.9 million in commercial and industrial loans and owner-occupied commercial real estate loans, respectively. These increases were partially offset by a decrease of $16.1 million in single family residential real estate.

Securities

• Total securities at December 31, 2025 were $1.13 billion, an increase of $12.4 million, or 1.1%, from $1.12 billion at September 30, 2025, and an increase of $13.8 million, or 1.2%, compared to December 31, 2024.
• Accumulated other comprehensive loss, net of taxes, primarily associated with unrealized losses within the available for sale portfolio, was $54.1 million at December 31, 2025, a decrease of $7.0 million, or 11.5%, from the linked quarter and a decrease of $51.9 million, or 48.9%, from December 31, 2024.
• The weighted average effective duration for the total securities portfolio was 4.15 years as of December 31, 2025, compared to 4.31 years as of September 30, 2025.
  

Deposits

• Total deposits at December 31, 2025, were $8.31 billion, a decrease of $24.6 million, or 0.3%, compared to September 30, 2025, and an increase of $84.1 million, or 1.0%, from December 31, 2024. We sold $215.0 million of interest-bearing deposits on December 31, 2025, which were immediately repurchased on January 2, 2026. Excluding the impact of this sale, total deposits would have been $8.52 billion at December 31, 2025, reflecting an increase of $190.4 million, or 2.3%, compared to September 30, 2025.
• At December 31, 2025, and September 30, 2025, noninterest-bearing deposits as a percentage of total deposits were 23.8% and 24.0%, respectively. At December 31, 2024, noninterest-bearing deposits as a percentage of total deposits were 23.1%.

Subordinate debentures

• Total subordinated debentures at December 31, 2025, were $16.5 million, a decrease of $73.2 million from $89.7 million at September 30, 2025, and a decrease of $143.4 million compared to December 31, 2024.
• The decrease was due to the redemption of $74.0 million in subordinated debentures in conjunction with our Optimize Origin initiative, as forecasted in our third quarter 2025 investor presentation. We recognized $783,000 in original issue discount amortization related to the redemption during the current quarter.
  

Conference Call

Origin will hold a conference call to discuss its fourth quarter and full year 2025 results on Thursday, January 29, 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: 86485 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/ORIGIN4Q25.

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 56 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, South 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. However, 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, ROATCE, and core efficiency ratio.

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 $10 billion as of December 31 of any calendar year; (10) the effectiveness of Origin’s risk management framework and quantitative models; (11) Origin’s inability to receive dividends from Origin Bank and to service debt, pay dividends to Origin’s common stockholders, repurchase Origin’s shares of common stock and satisfy obligations as they become due; (12) the impact of labor pressures; (13) changes in Origin’s operation or expansion strategy or Origin’s ability to prudently manage its growth and execute its strategy; (14) changes in management personnel; (15) Origin’s ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; (16) increasing costs as Origin grows deposits; (17) operational risks associated with Origin’s business; (18) significant turbulence or a disruption in the capital or financial markets and the effect of market disruption and interest rate volatility on our investment securities; (19) increased competition in the financial services industry, particularly from regional and national institutions, as well as from fintech companies; (20) compliance with governmental and regulatory requirements and changes in laws, rules, regulations, interpretations or policies relating to financial institutions; (21) periodic changes to the extensive body of accounting rules and best practices; (22) further government intervention in the U.S. financial system; (23) a deterioration of the credit rating for U.S. long-term sovereign debt; (24) Origin’s ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; (25) natural disasters and other adverse weather events, pandemics, acts of terrorism, war, and other matters beyond Origin’s control; (26) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; (27) fraud or misconduct by internal or external actors (including Origin employees); (28) cybersecurity threats or security breaches and the cost of defending against them; (29) Origin’s ability to maintain adequate internal controls over financial and non-financial reporting; and (30) potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions. For a discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Origin’s most recent and future Annual Reports on Form 10-K filed with the Securities and Exchange Commission and any updates to those sections set forth in Origin’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Origin’s underlying assumptions prove to be incorrect, actual results may differ materially from what Origin anticipates. Accordingly, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Origin does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

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
	December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Income statement and share amounts	(Dollars in thousands, except per share amounts)
Net interest income	$	86,694			$	83,704			$	82,136			$	78,459			$	78,349
Provision (benefit) for credit losses		3,158				36,820				2,862				3,444				(5,398	)
Noninterest income (loss)		16,736				26,128				1,368				15,602				(330	)
Noninterest expense		62,823				62,028				61,983				62,068				65,422
Income before income tax expense		37,449				10,984				18,659				28,549				17,995
Income tax expense		7,933				2,361				4,012				6,138				3,725
Net income	$	29,516			$	8,623			$	14,647			$	22,411			$	14,270
PTPP earnings(1)	$	40,607			$	47,804			$	21,521			$	31,993			$	12,597
Basic earnings per common share		0.95				0.28				0.47				0.72				0.46
Diluted earnings per common share		0.95				0.27				0.47				0.71				0.46
Dividends declared per common share		0.15				0.15				0.15				0.15				0.15
Weighted average common shares outstanding - basic		30,964,128				31,183,092				31,192,622				31,205,752				31,155,486
Weighted average common shares outstanding - diluted		31,168,548				31,363,571				31,327,818				31,412,010				31,308,805
Balance sheet data
Total LHFI	$	7,670,917			$	7,537,099			$	7,684,446			$	7,585,526			$	7,573,713
Total LHFI excluding MW LOC		7,142,136				7,064,131				7,109,698				7,181,395				7,224,632
Total assets		9,724,722				9,791,306				9,678,158				9,750,372				9,678,702
Total deposits		8,307,247				8,331,830				8,123,036				8,338,412				8,223,120
Total stockholders’ equity		1,246,685				1,214,756				1,205,769				1,180,177				1,145,245
Performance metrics and capital ratios
Yield on LHFI		6.22	%			6.33	%			6.33	%			6.33	%			6.47	%
Yield on interest-earnings assets		5.76				5.89				5.87				5.79				5.91
Cost of interest-bearing deposits		2.90				3.20				3.20				3.23				3.61
Cost of total deposits		2.20				2.46				2.47				2.52				2.79
NIM - fully tax equivalent ("FTE")		3.73				3.65				3.61				3.44				3.33
Return on average assets (annualized) ("ROAA")		1.19				0.35				0.60				0.93				0.57
PTPP ROAA (annualized)(1)		1.64				1.95				0.89				1.32				0.50
Return on average stockholders’ equity (annualized) ("ROAE")		9.50				2.79				4.94				7.79				4.94
Return on average tangible common equity (annualized) ("ROATCE")(1)		10.95				3.22				5.74				9.09				5.78
Book value per common share	$	40.28			$	39.23			$	38.62			$	37.77			$	36.71
Tangible book value per common share(1)		35.04				33.95				33.33				32.43				31.38
Efficiency ratio(2)		60.74	%			56.48	%			74.23	%			65.99	%			83.85	%
Core efficiency ratio(1)		59.77				54.70				73.77				65.33				82.79
Common equity tier 1 to risk-weighted assets(3)		13.53				13.59				13.47				13.57				13.32
Tier 1 capital to risk-weighted assets(3)		13.72				13.79				13.67				13.77				13.52
Total capital to risk-weighted assets(3)		14.91				15.90				15.68				15.81				16.44
Tier 1 leverage ratio(3)		11.86				11.69				11.70				11.47				11.08

__________________________
⁽¹⁾   PTPP earnings, PTPP ROAA, tangible book value per common share, ROATCE, and core efficiency ratio 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. December 31, 2025 ratios are estimated

Origin Bancorp, Inc. Selected Year-To-Date Financial Data (Unaudited)
	Years Ended December 31,
(Dollars in thousands, except per share amounts)		2025				2024
Income statement and share amounts
Net interest income	$	330,993			$	300,366
Provision for credit losses		46,284				7,448
Noninterest income		59,834				55,379
Noninterest expense		248,902				251,038
Income before income tax expense		95,641				97,259
Income tax expense		20,444				20,767
Net income	$	75,197			$	76,492
PTPP earnings(1)	$	141,925			$	104,707
Basic earnings per common share		2.42				2.46
Diluted earnings per common share		2.40				2.45
Dividends declared per common share		0.60				0.60
Weighted average common shares outstanding - basic		31,135,865				31,077,767
Weighted average common shares outstanding - diluted		31,333,463				31,201,863
Performance metrics
Yield on LHFI		6.30	%			6.58	%
Yield on interest-earning assets		5.83				6.01
Cost of interest-bearing deposits		3.13				3.86
Cost of total deposits		2.41				3.00
NIM-FTE		3.61				3.22
ROAA		0.77				0.77
PTPP ROAA(1)		1.45				1.05
ROAE		6.24				6.92
ROATCE(1)		7.23				8.18
Efficiency ratio(2)		63.69				70.57
Core efficiency ratio(1)		62.55				69.77

____________________________
⁽¹⁾  PTPP earnings, PTPP ROAA, ROATCE, and core efficiency ratio 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
	December 31, 2025			September 30, 2025			June 30, 2025				March 31, 2025				December 31, 2024
Interest and dividend income	(Dollars in thousands, except per share amounts)
Interest and fees on loans	$	119,282		$	120,096		$	121,239			$	117,075			$	127,021
Investment securities-taxable		8,991			8,767			7,692				8,076				6,651
Investment securities-nontaxable		1,487			1,523			1,425				968				964
Interest and dividend income on assets held in other financial institutions		4,884			5,753			4,281				6,424				5,197
Total interest and dividend income		134,644			136,139			134,637				132,543				139,833
Interest expense
Interest-bearing deposits		46,510			51,026			50,152				51,779				59,511
FHLB advances and other borrowings		102			273			1,216				96				88
Subordinated indebtedness		1,338			1,136			1,133				2,209				1,885
Total interest expense		47,950			52,435			52,501				54,084				61,484
Net interest income		86,694			83,704			82,136				78,459				78,349
Provision (benefit) for credit losses		3,158			36,820			2,862				3,444				(5,398	)
Net interest income after provision (benefit) for credit losses		83,536			46,884			79,274				75,015				83,747
Noninterest income
Insurance commission and fee income		5,931			6,598			6,661				7,927				5,441
Service charges and fees		5,043			4,965			4,927				4,716				4,801
Other fee income		2,128			2,262			2,809				2,301				2,152
Mortgage banking revenue		680			726			1,369				915				1,151
Swap fee income		58			1,387			1,435				533				116
(Loss) gain on sales of securities, net		—			—			(14,448	)			—				(14,617	)
Change in fair value of equity investments		—			6,972			—				—				—
Equity method investment income (loss)		1,859			550			(1,909	)			(1,692	)			(62	)
Other income		1,037			2,668			524				902				688
Total noninterest income (loss)		16,736			26,128			1,368				15,602				(330	)
Noninterest expense
Salaries and employee benefits		37,015			37,863			38,280				37,731				36,405
Occupancy and equipment, net		6,961			7,079			7,187				8,544				7,913
Data processing		3,672			3,526			3,432				2,957				3,414
Office and operations		3,243			3,184			3,337				2,972				2,883
Intangible asset amortization		1,499			1,583			1,768				1,761				1,800
Regulatory assessments		1,528			1,269			1,345				1,392				1,535
Advertising and marketing		1,746			1,524			1,158				1,133				1,929
Professional services		2,703			1,395			1,285				1,250				2,064
Electronic banking		1,545			1,470			1,359				1,354				1,377
Loan-related expenses		787			979			669				599				431
Bank share tax expense		469			686			688				675				884
Other expenses		1,655			1,470			1,475				1,700				4,787
Total noninterest expense		62,823			62,028			61,983				62,068				65,422
Income before income tax expense		37,449			10,984			18,659				28,549				17,995
Income tax expense		7,933			2,361			4,012				6,138				3,725
Net income	$	29,516		$	8,623		$	14,647			$	22,411			$	14,270

Origin Bancorp, Inc. Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)	December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Assets
Cash and due from banks	$	73,122			$	94,062			$	113,918			$	112,888			$	132,991
Interest-bearing deposits in banks		351,095				532,847				220,193				373,314				337,258
Total cash and cash equivalents		424,217				626,909				334,111				486,202				470,249
Securities:
AFS		1,117,176				1,104,789				1,126,721				1,161,368				1,102,528
Held to maturity, net of allowance for credit losses		10,559				10,559				11,093				11,094				11,095
Securities carried at fair value through income		6,215				6,203				6,218				6,512				6,512
Total securities		1,133,950				1,121,551				1,144,032				1,178,974				1,120,135
Non-marketable equity securities held in other financial institutions		31,069				31,041				75,181				71,754				71,643
Equity method investments		67,502				65,643				15,863				18,228				18,971
Loans held for sale		1,032				312				8,878				10,191				10,494
LHFI		7,670,917				7,537,099				7,684,446				7,585,526				7,573,713
Less: ALCL		96,782				96,259				92,426				92,011				91,060
LHFI, net of ALCL		7,574,135				7,440,840				7,592,020				7,493,515				7,482,653
Premises and equipment, net		124,249				122,899				122,618				123,847				126,620
Cash surrender value of bank-owned life insurance		41,726				41,478				41,265				41,021				40,840
Goodwill		128,679				128,679				128,679				128,679				128,679
Other intangible assets, net		33,362				34,861				36,444				38,212				37,473
Accrued interest receivable and other assets		164,801				177,093				179,067				159,749				170,945
Total assets	$	9,724,722			$	9,791,306			$	9,678,158			$	9,750,372			$	9,678,702
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	1,979,875			$	2,000,324			$	1,841,684			$	1,888,808			$	1,900,651
Interest-bearing deposits excluding brokered interest-bearing deposits, if any		5,497,920				5,516,821				5,450,710				5,536,636				5,301,243
Time deposits		829,452				814,685				805,642				862,968				941,000
Brokered deposits		—				—				25,000				50,000				80,226
Total deposits		8,307,247				8,331,830				8,123,036				8,338,412				8,223,120
FHLB advances and other borrowings		19,050				12,790				127,843				12,488				12,460
Subordinated indebtedness		16,544				89,715				89,657				89,599				159,943
Accrued expenses and other liabilities		135,196				142,215				131,853				129,696				137,934
Total liabilities		8,478,037				8,576,550				8,472,389				8,570,195				8,533,457
Stockholders’ equity:
Common stock		154,762				154,839				156,124				156,220				155,988
Additional paid-in capital		533,541				532,975				537,819				538,790				537,366
Retained earnings		612,523				588,106				585,387				575,578				557,920
Accumulated other comprehensive loss		(54,141	)			(61,164	)			(73,561	)			(90,411	)			(106,029	)
Total stockholders’ equity		1,246,685				1,214,756				1,205,769				1,180,177				1,145,245
Total liabilities and stockholders’ equity	$	9,724,722			$	9,791,306			$	9,678,158			$	9,750,372			$	9,678,702

Origin Bancorp, Inc. Loan Data (Unaudited)
	At and For the Three Months Ended
	December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
LHFI	(Dollars in thousands)
Owner-occupied commercial real estate	$	1,004,801			$	986,859			$	972,788			$	937,985			$	975,947
Non-owner-occupied commercial real estate		1,519,104				1,520,020				1,455,771				1,445,864				1,501,484
Construction/land/land development		611,220				615,778				653,748				798,609				864,011
Residential real estate - single family		1,444,611				1,460,696				1,465,535				1,465,192				1,432,129
Multi-family real estate		553,149				540,601				529,899				489,765				425,460
Total real estate loans		5,132,885				5,123,954				5,077,741				5,137,415				5,199,031
Commercial and industrial		1,989,218				1,919,782				2,011,178				2,022,085				2,002,634
MW LOC		528,781				472,968				574,748				404,131				349,081
Consumer		20,033				20,395				20,779				21,895				22,967
Total LHFI		7,670,917				7,537,099				7,684,446				7,585,526				7,573,713
Less: ALCL		96,782				96,259				92,426				92,011				91,060
LHFI, net	$	7,574,135			$	7,440,840			$	7,592,020			$	7,493,515			$	7,482,653
Nonperforming assets(1)
Nonperforming LHFI
Commercial real estate	$	13,212			$	11,736			$	12,814			$	5,465			$	4,974
Construction/land/land development		16,388				17,047				17,720				17,694				18,505
Residential real estate(2)		39,480				44,368				37,996				40,749				36,221
Commercial and industrial		11,919				15,043				16,655				17,325				15,120
Consumer		185				88				130				135				182
Total nonperforming LHFI		81,184				88,282				85,315				81,368				75,002
Other real estate owned/repossessed assets		694				577				1,991				1,990				3,635
Total nonperforming assets	$	81,878			$	88,859			$	87,306			$	83,358			$	78,637
Classified assets	$	148,322			$	138,910			$	129,628			$	129,666			$	122,417
Past due LHFI(3)		73,601				72,512				67,626				72,774				42,437
Past due 30 to 89 days and still accruing		14,764				7,739				12,495				42,587				18,015
Allowance for loan credit losses
Balance at beginning of period	$	96,259			$	92,426			$	92,011			$	91,060			$	95,989
Provision (benefit) for loan credit losses		3,693				35,216				2,715				3,679				(5,489	)
Loans charged off		4,328				32,206				3,700				4,848				2,025
Loan recoveries		1,158				823				1,400				2,120				2,585
Net charge-offs (recoveries)		3,170				31,383				2,300				2,728				(560	)
Balance at end of period	$	96,782			$	96,259			$	92,426			$	92,011			$	91,060
Credit quality ratios
Total nonperforming assets to total assets		0.84	%			0.91	%			0.90	%			0.85	%			0.81	%
Total nonperforming assets to loans & OREO		1.07				1.18				1.14				1.10				1.04
Nonperforming LHFI to LHFI		1.06				1.17				1.11				1.07				0.99
Past due LHFI to LHFI		0.96				0.96				0.88				0.96				0.56
Past due 30 to 89 days and still accruing to LHFI		0.19				0.10				0.16				0.56				0.24
ALCL to nonperforming LHFI		119.21				109.04				108.33				113.08				121.41
ALCL to total LHFI		1.26				1.28				1.20				1.21				1.20
ALCL to total LHFI, adjusted(4)		1.34				1.35				1.29				1.28				1.25
Net charge-offs (recoveries) to total average LHFI (annualized)		0.17				1.65				0.12				0.15				(0.03	)

____________________________
⁽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⁾   Includes multi-family real estate.
⁽³⁾   Past due LHFI are defined as loans 30 days or more past due and includes past due nonperforming loans.
⁽⁴⁾   The ALCL to total LHFI, adjusted is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.

Origin Bancorp, Inc. Average Balances and Yields/Rates (Unaudited)
	Three Months Ended
	December 31, 2025									September 30, 2025									December 31, 2024
	Average Balance			Income/Expense			Yield/Rate			Average Balance			Income/Expense			Yield/Rate			Average Balance			Income/Expense			Yield/Rate
Assets	(Dollars in thousands)
Commercial real estate	$	2,523,465		$	37,165		5.84	%		$	2,450,148		$	36,101		5.85	%		$	2,499,279		$	37,031		5.89	%
Construction/land/land development		607,799			10,563		6.89				644,455			11,454		7.05				936,134			16,278		6.92
Residential real estate(1)		2,017,441			28,921		5.69				1,992,766			28,432		5.66				1,847,399			25,547		5.50
Commercial and industrial ("C&I")		1,986,638			34,505		6.89				1,994,755			36,283		7.22				2,028,290			39,135		7.68
MW LOC		455,244			7,723		6.73				420,848			7,393		6.97				459,716			8,393		7.26
Consumer		20,746			374		7.15				20,652			385		7.40				23,393			449		7.64
LHFI		7,611,333			119,251		6.22				7,523,624			120,048		6.33				7,794,211			126,833		6.47
Loans held for sale		1,639			31		7.50				2,918			48		6.53				10,981			188		6.81
Loans receivable		7,612,972			119,282		6.22				7,526,542			120,096		6.33				7,805,192			127,021		6.47
Investment securities-taxable		1,019,830			8,991		3.50				951,758			8,767		3.65				1,002,216			6,651		2.64
Investment securities-nontaxable		180,862			1,487		3.26				176,051			1,523		3.43				149,307			964		2.57
Non-marketable equity securities held in other financial institutions		31,228			449		5.70				34,652			542		6.21				69,070			482		2.78
Interest-earning balances due from banks		435,241			4,435		4.04				473,352			5,211		4.37				394,790			4,715		4.75
Total interest-earning assets		9,280,133			134,644		5.76				9,162,355			136,139		5.89				9,420,575			139,833		5.91
Noninterest-earning assets		549,619									565,059									557,968
Total assets	$	9,829,752		$	134,644					$	9,727,414		$	136,139					$	9,978,543		$	139,833
Liabilities and Stockholders’ Equity
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts	$	5,557,057		$	39,758		2.84	%		$	5,511,452		$	44,059		3.17	%		$	5,341,028		$	46,711		3.48	%
Time deposits		812,766			6,752		3.30				819,692			6,967		3.37				1,213,565			12,800		4.20
Total interest-bearing deposits		6,369,823			46,510		2.90				6,331,144			51,026		3.20				6,554,593			59,511		3.61
FHLB advances and other borrowings		15,155			102		2.67				30,702			273		3.53				12,698			88		2.76
Subordinated indebtedness		42,641			1,338		12.45				89,692			1,136		5.02				159,910			1,885		4.69
Total interest-bearing liabilities		6,427,619			47,950		2.96				6,451,538			52,435		3.22				6,727,201			61,484		3.64
Noninterest-bearing liabilities
Noninterest-bearing deposits		2,002,102									1,901,116									1,940,689
Other liabilities		167,153									147,329									161,425
Total liabilities		8,596,874									8,499,983									8,829,315
Stockholders’ Equity		1,232,878									1,227,431									1,149,228
Total liabilities and stockholders’ equity	$	9,829,752								$	9,727,414								$	9,978,543
Net interest spread							2.80	%								2.67	%								2.27	%
NIM				$	86,694		3.71						$	83,704		3.62						$	78,349		3.31
NIM-FTE(2)				$	87,210		3.73						$	84,230		3.65						$	78,766		3.33

____________________________
⁽¹⁾ Includes multi-family real estate.
⁽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
	December 31, 2025								September 30, 2025								June 30, 2025								March 31, 2025								December 31, 2024
	$ 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	)			—				—				—				—				(681	)			(0.02	)			—				—
Notable provision expense items:
Provision (expense) release on relationships related to or impacted by questioned banker activity		(10	)			—				(1,670	)			(0.04	)			—				—				375				0.01				3,212				0.08
Provision expense related to borrower fraud		(13	)			—				(29,545	)			(0.74	)			—				—				—				—				—				—
Notable noninterest income items(2):
(Loss) gain on sales of securities, net		—				—				—				—				(14,448	)			(0.36	)			—				—				(14,617	)			(0.37	)
Positive valuation adjustment on non-marketable equity securities		—				—				6,972				0.18				—				—				—				—				—				—
Net (loss) gain on OREO properties(2)		—				—				—				—				(158	)			—				(212	)			(0.01	)			198				—
BOLI payout		—				—				—				—				—				—				208				0.01				—				—
Insurance recovery income related to questioned banker activity		483				0.01				2,077				0.05				—				—				—				—				—				—
Notable noninterest expense items:
Operating expense related to questioned banker activity		(698	)			(0.02	)			(112	)			—				(530	)			(0.01	)			(543	)			(0.01	)			(4,069	)			(0.10	)
Operating expense related to strategicOptimize Origininitiatives(3)		(51	)			—				(577	)			(0.01	)			(428	)			(0.01	)			(1,615	)			(0.04	)			(1,121	)			(0.03	)
Operating expense related to borrower fraud		(587	)			(0.01	)			(285	)			(0.01	)			—				—				—				—				—				—
Employee Retention Credit		—				—				—				—				—				—				213				0.01				1,651				0.04
Total notable items	$	(1,659	)			(0.04	)		$	(23,346	)			(0.59	)		$	(15,564	)			(0.39	)		$	(2,255	)			(0.06	)		$	(14,746	)			(0.37	)

____________________________
⁽¹⁾   The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.
⁽²⁾   The $158,000 net loss on OREO properties for the quarter ended June 30, 2025, includes an $8,000 insurance settlement recovery that was included in noninterest income on the face of the income statement and $3,000 in repair costs that was included in noninterest expense. The $212,000 net loss on OREO properties for the quarter ended March 31, 2025, includes a $444,000 expected insurance settlement recovery that was included in noninterest income on the face of the income statement, and a $148,000 repair cost that was included in noninterest expense.
⁽³⁾   The $51,000 operating expense related to strategic Optimize Origin initiatives for the quarter ended December 31, 2025, includes sub-lease income of $40,000 that was included in noninterest income on the face of the income statement. The $577,000 operating expense related to strategic Optimize Origin initiatives for the quarter ended September 30, 2025, includes sub-lease income of $27,000 that was included in noninterest income on the face of the income statement

Origin Bancorp, Inc. Notable Items - Continued (Unaudited)
	Years Ended December 31,
		2025								2024
	$ Impact				EPS Impact(1)				$ Impact				EPS Impact(1)
	(Dollars in thousands, except per share amounts)
Notable interest income items:
Interest income reversal on relationships impacted by questioned banker activity	$	—			$	—			$	(1,206	)		$	(0.03	)
Interest income reversal related to borrower fraud		(206	)			(0.01	)			—				—
Notable interest expense items:
OID amortization - subordinated debenture redemption		(1,464	)			(0.04	)			—				—
Notable provision expense items:
Provision expense on relationships related to or impacted by questioned banker activity		(1,305	)			(0.03	)			(4,131	)			(0.10	)
Provision expense related to borrower fraud		(29,558	)			(0.75	)			—				—
Notable noninterest income items:
MSR gain		—				—				410				0.01
Loss on sales of securities, net		(14,448	)			(0.36	)			(14,799	)			(0.37	)
Gain on sub-debt repurchase		—				—				81				—
Positive valuation adjustment on non-marketable equity securities		6,972				0.18				5,188				0.13
Net (loss) gain on OREO properties(2)		(370	)			(0.01	)			998				0.03
BOLI payout		208				0.01				—				—
Insurance recovery income related to questioned banker activity		2,560				0.06				—				—
Notable noninterest expense items:
Operating expense related to questioned banker activity		(1,883	)			(0.05	)			(6,369	)			(0.16	)
Operating expense related to strategicOptimize Origininitiatives(3)		(2,671	)			(0.07	)			(1,121	)			(0.03	)
Operating expense related to borrower fraud		(872	)			(0.02	)			—				—
Employee Retention Credit		213				0.01				1,651				0.04
Total notable items	$	(42,824	)			(1.08	)		$	(19,298	)			(0.49	)

____________________________
⁽¹⁾   The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.
⁽²⁾   The $370,000 net loss on OREO properties for the year ended December 31, 2025, includes a $452,000 insurance settlement recovery that was included in noninterest income on the face of the income statement and a $151,000 repair cost that was included in noninterest expense.
⁽³⁾   The $2.7 million operating expense related to strategic Optimize Origin initiatives for the year ended December 31, 2025, includes sub-lease income of $67,000 that was included in noninterest income on the face of the income statement

Origin Bancorp, Inc. Non-GAAP Financial Measures (Unaudited)
	At and For the Three Months Ended
	December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
	(Dollars in thousands, except per share amounts)
Calculation of PTPP earnings:
Net income	$	29,516			$	8,623			$	14,647			$	22,411			$	14,270
Provision (benefit) for credit losses		3,158				36,820				2,862				3,444				(5,398	)
Income tax expense		7,933				2,361				4,012				6,138				3,725
PTPP earnings (non-GAAP)	$	40,607			$	47,804			$	21,521			$	31,993			$	12,597
Calculation of PTPP ROAA:
PTPP earnings	$	40,607			$	47,804			$	21,521			$	31,993			$	12,597
Divided by number of days in the quarter		92				92				91				90				92
Multiplied by the number of days in the year		365				365				365				365				366
PTPP earnings, annualized	$	161,104			$	189,657			$	86,320			$	129,749			$	50,114
Divided by total average assets		9,829,752				9,727,414				9,715,923				9,808,215				9,978,543
ROAA (annualized) (GAAP)		1.19	%			0.35	%			0.60	%			0.93	%			0.57	%
PTPP ROAA (annualized) (non-GAAP)		1.64				1.95				0.89				1.32				0.50
Calculation of tangible book value per common share:
Total common stockholders’ equity	$	1,246,685			$	1,214,756			$	1,205,769			$	1,180,177			$	1,145,245
Goodwill		(128,679	)			(128,679	)			(128,679	)			(128,679	)			(128,679	)
Other intangible assets, net		(33,362	)			(34,861	)			(36,444	)			(38,212	)			(37,473	)
Tangible common equity		1,084,644				1,051,216				1,040,646				1,013,286				979,093
Divided by common shares outstanding at the end of the period		30,952,428				30,967,768				31,224,718				31,244,006				31,197,574
Book value per common share (GAAP)	$	40.28			$	39.23			$	38.62			$	37.77			$	36.71
Tangible book value per common share (non-GAAP)		35.04				33.95				33.33				32.43				31.38
Calculation of ROATCE:
Net income	$	29,516			$	8,623			$	14,647			$	22,411			$	14,270
Divided by number of days in the quarter		92				92				91				90				92
Multiplied by number of days in the year		365				365				365				365				366
Annualized net income	$	117,102			$	34,211			$	58,749			$	90,889			$	56,770
Total average common stockholders’ equity	$	1,232,878			$	1,227,431			$	1,190,331			$	1,166,749			$	1,149,228
Average goodwill		(128,679	)			(128,679	)			(128,679	)			(128,679	)			(128,679	)
Average other intangible assets, net		(34,293	)			(35,741	)			(37,459	)			(38,254	)			(38,646	)
Average tangible common equity		1,069,906				1,063,011				1,024,193				999,816				981,903
ROAE (annualized) (GAAP)		9.50	%			2.79	%			4.94	%			7.79	%			4.94	%
ROATCE (annualized) (non-GAAP)		10.95				3.22				5.74				9.09				5.78
Calculation of core efficiency ratio:
Total noninterest expense	$	62,823			$	62,028			$	61,983			$	62,068			$	65,422
Insurance and mortgage noninterest expense		(6,644	)			(7,532	)			(8,460	)			(8,230	)			(8,497	)
Adjusted total noninterest expense		56,179				54,496				53,523				53,838				56,925
Net interest income	$	86,694			$	83,704			$	82,136			$	78,459			$	78,349
Insurance and mortgage net interest income		(2,820	)			(2,885	)			(2,924	)			(2,815	)			(2,666	)
Total noninterest income		16,736				26,128				1,368				15,602				(330	)
Insurance and mortgage noninterest income		(6,611	)			(7,324	)			(8,030	)			(8,842	)			(6,592	)
Adjusted total revenue		93,999				99,623				72,550				82,404				68,761
Efficiency ratio (GAAP)		60.74	%			56.48	%			74.23	%			65.99	%			83.85	%
Core efficiency ratio (non-GAAP)		59.77				54.70				73.77				65.33				82.79

Origin Bancorp, Inc. Non-GAAP Financial Measures - Continued (Unaudited)
	Years Ended December 31,
		2025				2024
	(Dollars in thousands, except per share amounts)
Calculation of PTPP earnings:
Net income	$	75,197			$	76,492
Provision for credit losses		46,284				7,448
Income tax expense		20,444				20,767
PTPP earnings (non-GAAP)	$	141,925			$	104,707
Calculation of PTPP ROAA:
PTPP Earnings	$	141,925			$	104,707
Divided by total average assets		9,770,267				9,958,590
ROAA(GAAP)		0.77	%			0.77	%
PTPP ROAA(non-GAAP)		1.45				1.05
Calculation of ROATCE:
Net income	$	75,197			$	76,492
Total average common stockholders’ equity	$	1,204,592			$	1,105,650
Average goodwill		(128,679	)			(128,679	)
Average other intangible assets, net		(36,424	)			(41,588	)
Average tangible common equity		1,039,489				935,383
ROAE(GAAP)		6.24	%			6.92	%
ROATCE(non-GAAP)		7.23				8.18
Calculation of core efficiency ratio:
Total noninterest expense	$	248,902			$	251,038
Insurance and mortgage noninterest expense		(30,866	)			(33,392	)
Adjusted total noninterest expense		218,036				217,646
Net interest income	$	330,993			$	300,366
Insurance and mortgage net interest income		(11,444	)			(10,446	)
Total noninterest income		59,834				55,379
Insurance and mortgage noninterest income		(30,807	)			(33,339	)
Adjusted total revenue		348,576				311,960
Efficiency ratio (non-GAAP)		63.69	%			70.57	%
Core efficiency ratio (non-GAAP)		62.55				69.77

Source: Origin Bancorp, Inc.