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obnk-20201026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

October 26, 2020

ORIGIN BANCORP, INC.

(Exact name of Registrant as specified in its charter)

Louisiana

001-38487

72-1192928

(State or other jurisdiction of incorporation)

(Commission File No.)

(I.R.S. Employer Identification No.)

500 South Service Road East

Ruston, Louisiana 71270


(Address of principal executive offices including zip code)

(318) 255-2222


(Registrant's telephone number, including area code)

Not Applicable


(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $5.00 per share

OBNK

Nasdaq Global Select Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


ITEM 2.02			Results of Operations and Financial Condition

On October 28, 2020, Origin Bancorp, Inc. (the "Registrant") issued a press release announcing its third quarter 2020 results of operations. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.

On Thursday, October 29, 2020, at 8:00 a.m. Central Time, the Registrant will host an investor conference call and webcast to review its third quarter 2020 financial results. The webcast will include presentation materials which consist of information regarding the Registrant's results of operations and financial performance. The presentation materials will be posted on the Registrant's website on October 28, 2020. The presentation materials are attached hereto as Exhibit 99.2, which is incorporated herein by reference.

As provided in General Instructions B.2 to Form 8-K, the information furnished in Item 2.02, Exhibit 99.1 and Exhibit 99.2 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


ITEM 5.02			Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On Monday, October 26th, Cary Davis informed the Registrant of his intention to retire from his position as Executive Risk Officer, effective December 31, 2020. Mr. Davis was hired as Chief Risk Officer in 1998 and remained in that role until he assumed the role of Executive Risk Officer in October of 2019. Earlier this year, the Registrant separated the roles of Chief Risk Officer and Chief Credit Officer. Jim Crotwell continues to serve the Registrant as Chief Risk Officer and Preston Moore continues to serve as Chief Credit Officer.


ITEM 8.01			Other Events

On October 28, 2020, the Registrant issued a press release announcing that the Board of Directors of the Registrant declared a quarterly cash dividend of $0.10 per share of its common stock. The cash dividend will be paid on November 30, 2020, to stockholders of record as of the close of business on November 13, 2020. The press release is attached to this report as Exhibit 99.3, which is incorporated herein by reference.


ITEM 9.01			Financial Statements and Exhibits
(d)			Exhibits.
Exhibit 99.1			Press release, dated October 28, 2020, announcing third quarter 2020 earnings
Exhibit 99.2			Presentation materials
Exhibit 99.3			Press release, dated October 28, 2020, announcing quarterly dividend
Exhibit 104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Dated: October 28, 2020						ORIGIN BANCORP, INC.

						By: /s/ Stephen H. Brolly
						Stephen H. Brolly
						Chief Financial Officer

Document

Exhibit 99.1

For Immediate Release

https://cdn.kscope.io/969ea7a65b9378bab02d27bf1ca2fead-obnklogoa521.jpg

ORIGIN BANCORP, INC. REPORTS EARNINGS FOR THIRD QUARTER 2020

RUSTON, Louisiana (October 28, 2020) - Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin" or the "Company"), the holding company for Origin Bank (the "Bank"), today announced net income of $13.1 million for the quarter ended September 30, 2020. This represents an increase of $8.1 million from the quarter ended June 30, 2020, and a decrease of $1.5 million from the quarter ended September 30, 2019. Diluted earnings per share for the quarter ended September 30, 2020, were $0.56, up $0.35 from the linked quarter and down $0.06 from the quarter ended September 30, 2019. Pre-tax pre-provision earnings for the quarter were $29.9 million, a 10.3% increase on a linked quarter basis, and a 33.4% increase on a prior year quarter basis, while the efficiency ratio improved to 56.4%, a 206 basis point decline from the linked quarter.

“Origin delivered strong third quarter results reflecting historic pre-tax, pre-provision earnings” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “Our teams across Louisiana, Texas and Mississippi continue to work to help our customers and communities through the current environment. While much uncertainty remains, we believe our company has shown amazing resiliency, and we are strategically positioned to build sustainable, long term value for our stakeholders and help facilitate the economic recovery across our footprint."

Financial Highlights

•Net income for the quarter ended September 30, 2020, was $13.1 million, compared to $5.0 million for the linked quarter and $14.6 million for the quarter ended September 30, 2019.

•Pre-tax pre-provision earnings continue to achieve historic heights, reaching $29.9 million for the quarter ended September 30, 2020, compared to $27.1 million for the linked quarter and $22.4 million for the quarter ended September 30, 2019.

•Diluted earnings per share for the quarter ended September 30, 2020, were $0.56, compared to $0.21 for the linked quarter and $0.62 for the quarter ended September 30, 2019.

•Net interest income was $50.6 million for the quarter ended September 30, 2020, compared to $46.3 million for the linked quarter and $44.6 million for the quarter ended September 30, 2019. The fully tax-equivalent net interest margin ("NIM") was 3.18% for the current quarter, a nine basis point improvement from the linked quarter and a 51 basis point decrease from the quarter ended September 30, 2019.

•Provision expense was $13.6 million for the quarter ended September 30, 2020, compared to provision expense of $21.4 million for the linked quarter and $4.2 million for the quarter ended September 30, 2019. The allowance for credit losses to nonperforming loans held for investment ("LHFI") increased to 270.09%, compared to 234.53% on a linked quarter basis and compared to 117.97% at September 30, 2019.

•Total LHFI were $5.61 billion at September 30, 2020, an increase of $300.5 million, or 5.7%, from June 30, 2020, and an increase of $1.42 billion, or 34.0%, from September 30, 2019. LHFI, excluding Paycheck Protection Program ("PPP") loans, net of deferred fees and costs, increased $297.3 million, or 6.2%, compared to June 30, 2020, and $871.8 million, or 20.8%, compared to September 30, 2019.

•Total deposits at September 30, 2020, were $5.94 billion, an increase of $563.7 million, or 10.5%, from June 30, 2020, and an increase of $1.65 billion, or 38.6%, from September 30, 2019.

•The Company completed an offering of $80 million in aggregate principal amount of subordinated notes due 2030 in October 2020. The notes qualify as Tier 2 capital for the Company and approximately $64.8 million of Tier 1 capital for regulatory capital purposes for Origin Bank.

Coronavirus (COVID-19)

Origin has continued to meet customers' needs while keeping the safety and well-being of the Company's employees and customers as its top priority. The Company implemented a hotline and a temporary pandemic Paid Time Off policy to assist employees and the Company's offices and branches all remain open with all drive-thrus fully operational. The Company has maintained social distancing measures for its employees working in the Company's offices, including appointment-only restricted lobby access and requiring employees to wear face masks unless working in an office or other location that permits social distancing. The Company has also enhanced its sanitation protocols, implemented return to work screening protocols following potential exposures, as well as other measures consistent with applicable federal, state, and local guidelines to promote the safety and health of its employees and customers. To allow for more normalized customer operations, the Company has installed thermal kiosks for temperature checks at the entrance of each location and is currently evaluating additional safety protocols to allow unrestricted lobby access in the future, if the circumstances allow.

Credit Quality

The COVID-19 pandemic has continued to have a severe impact on the U.S. economy leading to elevated unemployment levels and a recession. Our results for the first three quarters of 2020 have been impacted by elevated provision expense and increases in allowance for credit loss due to the COVID-19 health care crisis and the uncertainty surrounding the economic outlook.

The Company recorded a provision expense of $13.6 million for the quarter ended September 30, 2020, compared to provision expense of $21.4 million for the linked quarter and $4.2 million for the quarter ended September 30, 2019. The decrease in provision expense compared to the linked quarter reflects more stable credit trends. The increase from September 30, 2019, was primarily due to the decline in overall economic conditions and the change in accounting methods from incurred loss to expected loss under the implementation of Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("CECL"). The key business sectors affected by the economic uncertainty are discussed below.

As the Company has previously reported, the Company continues to closely monitor those industry sectors that could experience a more protracted recovery from the current economic down turn, specifically the sectors of hotels, energy, non-essential retail, restaurants, and assisted living. Excluding PPP loans, at September 30, 2020, the Company had $551.2 million, or 11.0%, of its LHFI invested in these sectors and, while the Company has increased its allowance for credit losses, the allowance is a current estimate and may be subject to change. Excluding PPP loans, nonperforming LHFI in these sectors were $7.3 million at September 30, 2020, while past due LHFI, excluding PPP loans, defined as loans 30 days or more past due, as a percentage of LHFI in these sectors, excluding PPP loans, was 1.3% at September 30, 2020. For more information on Origin’s COVID-19 impacted sectors, please see the Investor Presentation furnished to the SEC on October 28, 2020, and on Origin's website at www.origin.bank under the Investor Relations, News & Events, Events & Presentations link.

Total LHFI 30 days or more past due as a percentage of LHFI, was 0.52% (0.58% excluding PPP loans) at September 30, 2020, compared to 0.45% (0.50% excluding PPP loans) at June 30, 2020, and 0.72% at September 30, 2019. The ratio of past due LHFI to LHFI excluding PPP loans does not include delinquent GNMA loans that we service of which approximately $60.1 million are available for repurchase and are included in Loans held for sale on the consolidated balance sheet. When GNMA loans available for repurchase, which are past due 90 days or greater, are included, the ratio of Past due loans/Total loans was 1.68% at September 30, 2020.

During the quarter ended September 30, 2020, the Company had net charge-offs of $1.8 million compared to net charge-offs of $6.5 million for the linked quarter. The Company's net charge-off ratio to average LHFI for the quarter ended September 30, 2020, was 0.13%, compared to 0.53% for the quarter ended June 30, 2020. Total nonperforming LHFI were stable at $30.2 million at September 30, 2020, compared to $30.0 million and $31.5 million at June 30, 2020, and September 30, 2019, respectively.

Allowance for credit losses on loans as a percentage of total LHFI was 1.45% at September 30, 2020, compared to 1.33% and 0.89% at June 30, 2020, and September 30, 2019, respectively. Excluding PPP loans and mortgage warehouse lines of credit, the allowance for credit losses on loans as a percentage of LHFI was 2.00% at September 30, 2020, and 1.75% for the linked quarter. The allowance for credit losses on loans as a percentage of nonperforming LHFI was 270.09% at September 30, 2020, compared to 234.53% and 117.97% at June 30, 2020, and September 30, 2019, respectively. The increase in the allowance for credit losses was primarily due to the estimated impact of the COVID-19 pandemic on the Company's loan portfolio combined with an extension of the reversion period during the current quarter. Classified assets remained stable on a linked quarter basis, at $101.6 million at September 30, 2020, compared to $100.3 million at June 30, 2020. The increase in classified assets from $73.5 million at September 30, 2019, is due to the financial condition of borrowers impacted by the COVID-19 pandemic. Excluding PPP loans, classified loans as a percentage of LHFI and as a percentage of total risk-based capital (at the Origin Bancorp, Inc. level) were 1.99% and 13.67%, respectively, at September 30, 2020, reflecting an increase from 1.65% and 11.51%, respectively, at September 30, 2019.

Results of Operations for the Three Months Ended September 30, 2020

Net Interest Income and Net Interest Margin

Net interest income for the quarter ended September 30, 2020, was $50.6 million, an increase of $4.3 million, or 9.3%, compared to the linked quarter. The increase was primarily due to a $2.7 million increase in income from mortgage warehouse lines of credit during the current quarter compared to the linked quarter, combined with a $922,000 decrease in total interest-bearing deposit expenses.

Interest-bearing deposit expense was $5.7 million during the current quarter, compared to $6.6 million for the quarter ended June 30, 2020, primarily due to a reduction in deposit rates. The average rate on savings and interest-bearing transaction accounts was 0.39% for the current quarter, down from 0.51% for the linked quarter, accounting for $900,000 of the decrease in interest expense from the linked quarter. This reduction was partially offset by a $377.9 million increase in the average balance of savings and interest-bearing transaction accounts. The decrease in the cost of interest-bearing deposit accounts was primarily due to the Company's efforts to reduce rates on deposit accounts to offset the continued low-rate environment impact on asset yields. The average balance of Federal Home Loan Bank ("FHLB") advances and other borrowings decreased by $124.6 million primarily due to a $300.0 million short-term FHLB advance obtained in March 2020 that matured on June 25, 2020, but was offset by an increase in the Company's utilization of the Federal Reserve's PPP Lending Facility ("PPPLF") during the quarter.

The fully tax-equivalent net interest margin ("NIM") was 3.18% for the current quarter, a nine basis point improvement from the linked quarter and a 51 basis point decrease from the quarter ended September 30, 2019. Excluding PPP loans, the fully tax-equivalent NIM was 3.28%, a 13 basis point increase from the linked quarter. The yield earned on interest-earning assets was 3.64%, a one basis point and a 117 basis point decrease compared to the linked quarter and the quarter ended September 30, 2019, respectively. Excluding PPP loans, the yield earned on interest-earning assets was 3.75%, a three basis point increase compared to the linked quarter. The rate paid on total interest-bearing liabilities for the quarter ended September 30, 2020, was 0.75%, representing a decrease of 14 basis points and 90 basis points compared to the linked quarter and the quarter ended September 30, 2019, respectively. The Company has experienced margin compression since the quarter ended September 30, 2019, primarily caused by decreasing loan yields driven by declining short-term interest rates over the last several quarters.

Noninterest Income

Noninterest income for the quarter ended September 30, 2020, was $18.1 million, a decrease of $1.0 million, or 5.4%, from the linked quarter. The decrease from the linked quarter was primarily driven by a decrease of $1.4 million in swap fee income and a $1.2 million decrease in mortgage banking revenue, offset by a $661,000 decrease in the loss on sales and disposal of other assets.

The decrease in swap fees income was due to lower transaction volume during the quarter ended September 30, 2020, compared to the linked quarter. The decrease in mortgage banking revenue compared to the linked quarter was primarily due to a reduction in the volume of loans funded and sold.

The decrease in loss on sales and disposals of other assets was primarily due to the decline in value and subsequent write down of two commercial real estate owned properties during the quarter ended June 30, 2020.

Noninterest Expense

Noninterest expense for the quarter ended September 30, 2020, was $38.7 million, an increase of $514,000, or 1.3%, compared to the linked quarter. The increase from the linked quarter was largely driven by increases of $671,000, $544,000, $482,000, and $300,000 in advertising and marketing expense, regulatory assessment expense, other noninterest expense, and loan related expense, respectively.

The increase in advertising and marketing expense was primarily driven by $550,000 in donations and contributions made to various institutions as part of our initiative to invest a portion of our PPP loan income within the community. The increase in regulatory assessment expense was largely driven by significant growth in our assets during the last six months. The increase in other expenses was driven by a $475,000 reserve for a judgment, currently on appeal. The increase in loan related expense was driven by $255,000 in one-time charges on deemed uncollectible receivables from our mortgage servicing portfolio.

These increases were offset by a $1.4 million decrease in salaries and employee benefits expense. Medical self-insurance costs decreased $487,000 primarily due to lower medical claims. Commissions decreased $317,000 due to lower mortgage production compared to the linked quarter.

Financial Condition

Loans

Total LHFI at September 30, 2020, were $5.61 billion, an increase of $300.5 million, or 5.7%, compared to $5.31 billion at June 30, 2020, and an increase of $1.42 billion, or 34.0%, compared to $4.19 billion at September 30, 2019. The increase in LHFI when compared to June 30, 2020, was primarily driven by a $248.3 million increase in mortgage warehouse lines of credit, which was primarily due to increased mortgage activity due to the continued low interest rate environment, but also coupled with additional mortgage warehouse clients being onboarded and funding loans in the last six months. The increase in LHFI when compared to September 30, 2019, was primarily due to an increase of $552.3 million in PPP loans.

For the quarter ended September 30, 2020, average LHFI were $5.29 billion, an increase of $373.1 million, or 7.6%, from $4.92 billion for the linked quarter. The increase in average LHFI was caused by the same drivers that were discussed in the immediately preceding paragraph.

Deposits

Total deposits at September 30, 2020, were $5.94 billion, an increase of $563.7 million, or 10.5%, compared to $5.37 billion at June 30, 2020, and an increase of $1.65 billion, or 38.6%, compared to $4.28 billion, at September 30, 2019. Interest-bearing demand deposits increased $598.7 million, or 19.7%, compared to the linked quarter and $1.33 billion, or 57.6%, compared to the quarter ended September 30, 2019. Brokered and money market deposits contributed an increase of $345.0 million and $188.3 million, respectively, compared to the linked quarter and $505.5 million and $551.0 million, respectively, when compared to the quarter ended September 30, 2019. Noninterest-bearing deposits increased $14.7 million and $444.8 million compared to the quarter ended June 30, 2020, and September 30, 2019, respectively.

Average total deposits for the quarter ended September 30, 2020, increased by $411.5 million, or 8.3%, over the linked quarter primarily due to an increase of $117.3 million in average business money market deposits and $82.9 million in average brokered deposits.

For the quarter ended September 30, 2020, average noninterest-bearing deposits as a percentage of total average deposits was 30.4%, compared to 31.8% for the quarter ended June 30, 2020, and 27.1% for the quarter ended September 30, 2019.

Borrowings

Average FHLB advances and other borrowings for the quarter ended September 30, 2020, decreased by $124.6 million, or 19.0%, compared to the quarter ended June 30, 2020, and increased by $56.8 million, or 11.9% over the quarter ended September 30, 2019. The Company entered into a total of $400.0 million in short-term FHLB advances in March 2020, of which $380.0 million matured and were not replaced with new advances as of September 30, 2020. The maturities of the advances caused the average balance of FHLB advances and borrowings to decline $329.1 million in the current quarter compared to the linked quarter. During the quarter ended September 30, 2020, the Company more significantly utilized the PPPLF which caused an increase in borrowings of $199.4 million, partially offsetting the decline due to FHLB advance maturities. By September 30, 2020, the Company had repaid all advances outstanding under the PPPLF and replaced the advances with brokered deposits ranging in cost from one to five basis points.

The Company announced the completion of an offering of $80 million in aggregate principal amount of 4.50% fixed-to floating rate subordinated notes due 2030 (the “Notes”) in October 2020. The Notes will initially bear interest at a fixed annual rate of 4.50% for five years then adjusts to a floating rate which is expected to be the three-month term Secured Overnight Financing Rate ("SOFR") plus 432 basis points. The Notes qualify as Tier 2 capital for regulatory capital purposes for the Company, and approximately $64.8 million will be passed downstream as Tier 1 capital for regulatory capital purposes to Origin Bank.

Stockholders' Equity

Stockholders' equity was $627.6 million at September 30, 2020, an increase of $12.9 million, or 2.1%, compared to $614.8 million at June 30, 2020, and an increase of $39.3 million, or 6.7%, compared to $588.4 million at September 30, 2019. The increase from the linked quarter was primarily due to net income for the quarter of $13.1 million. The increase from the September 30, 2019, quarter was primarily caused by retained earnings and other comprehensive income during the intervening period.

Conference Call

Origin will hold a conference call to discuss its third quarter 2020 results on Thursday, October 29, 2020, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). To participate in the live conference call, please dial (844) 695-5516; International: (412) 902-6750 and request to be joined into the Origin Bancorp, Inc. (OBNK) 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://services.choruscall.com/links/obnk201029.html.

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 Bancorp, Inc.

Origin is a financial holding company headquartered in Ruston, Louisiana. Origin's wholly owned bank subsidiary, Origin Bank, was founded in 1912. Deeply rooted in Origin's history is a culture committed to providing personalized, relationship banking to its clients and communities. Origin provides a broad range of financial services to businesses, municipalities, high net-worth individuals and retail clients. Origin currently operates 43 banking centers located from Dallas/Fort Worth, Texas across North Louisiana to Central Mississippi, as well as in Houston, Texas. For more information, visit www.origin.bank.

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's future financial performance, business and growth strategy, projected plans and objectives, including the Company’s loan loss reserves and allowance for credit losses related to the COVID-19 pandemic and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including expectations regarding efforts to respond to the COVID-19 pandemic and continued low interest rates or interest rate cuts 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 "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" or 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: the continuing duration and impacts of the COVID-19 global pandemic and efforts to contain its transmission, including the effect of these factors on Origin’s business, customers and economic conditions generally, as well as the impact of the actions taken by governmental authorities to address the impact of COVID-19 on the United States economy, including, without limitation, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”); deterioration of Origin's asset quality; factors that can impact the performance of Origin’s loan portfolio, including real estate values and liquidity in Origin's primary market areas; the financial health of Origin's commercial borrowers and the success of construction projects that Origin finances; changes in the value of collateral securing Origin's loans; Origin’s ability to anticipate interest rate changes and manage interest rate risk; the effectiveness of Origin’s risk management framework and quantitative models; 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; business and economic conditions generally and in the financial services industry, nationally and within Origin's primary market areas; changes in Origin’s operation or expansion strategy or Origin's ability to prudently manage its growth and execute its strategy; changes in management personnel; Origin's ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; increasing costs as Origin grows deposits; operational risks associated with Origin’s business; volatility and direction of market interest rates; increased competition in the financial services industry, particularly from regional and national institutions; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which Origin operates and in which its loans are concentrated; an increase in unemployment levels and slowdowns in economic growth; Origin's level of nonperforming assets and the costs associated with resolving any problem loans including litigation and other costs; the credit risk associated with the substantial amount of commercial real estate, construction and land development, and commercial loans in Origin's loan portfolio; changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, and potential expenses associated with complying with such regulations, periodic changes to the extensive body of accounting rules and best practices; further government intervention in the U.S. financial system; compliance with governmental and regulatory requirements, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and others relating to banking, consumer protection, securities and tax matters; 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; changes in the utility of Origin's non-GAAP liquidity measurements and its underlying assumptions or estimates; uncertainty regarding the future of the London Interbank Offered Rate and the impact of any replacement alternatives on Origin’s business; possible changes in trade, monetary and fiscal policies, laws and regulations and other activities of governments, agencies and similar organizations; natural disasters and adverse weather events, acts of terrorism, an outbreak of hostilities, regional or national protests and civil unrest (including any resulting branch closures or property damage), widespread illness or public health outbreaks or other international or domestic calamities, and other matters beyond Origin’s control; and system failures, cybersecurity threats or security breaches and the cost of defending against them. 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 Annual Report 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. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the recent outbreak of the COVID-19 pandemic and the impact of varying governmental responses, including the CARES Act, that affect Origin's customers and the economies where they operate. 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 purpose only, are not forecasts and may not reflect actual results.

Contact:

Chris Reigelman, Origin Bancorp, Inc.

318-497-3177 / chris@origin.bank

Origin Bancorp, Inc.

Selected Quarterly Financial Data


	At and for the three months ended
	September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019			September 30, 2019

Income statement and share amounts	(Dollars in thousands, except per share amounts, unaudited)
Net interest income	$	50,617		$	46,290		$	42,810		$	44,095		$	44,622
Provision for credit losses	13,633			21,403			18,531			2,377			4,201
Noninterest income	18,051			19,076			12,144			10,818			12,880
Noninterest expense	38,734			38,220			36,097			36,534			35,064
Income before income tax expense	16,301			5,743			326			16,002			18,237
Income tax (benefit) expense	3,206			786			(427)			3,175			3,620
Net income	$	13,095		$	4,957		$	753		$	12,827		$	14,617
Pre-tax, pre-provision ("PTPP") earnings (1)	$	29,934		$	27,146		$	18,857		$	18,379		$	22,438
Basic earnings per common share	0.56			0.21			0.03			0.55			0.62
Diluted earnings per common share	0.56			0.21			0.03			0.55			0.62
Dividends declared per common share	0.0925			0.0925			0.0925			0.0925			0.0925
Weighted average common shares outstanding - basic	23,374,496			23,347,744			23,353,601			23,323,292			23,408,499
Weighted average common shares outstanding - diluted	23,500,596			23,466,326			23,530,212			23,529,862			23,606,956

Balance sheet data
Total LHFI	$	5,612,666		$	5,312,194		$	4,481,185		$	4,143,195		$	4,188,497
Total assets	7,101,338			6,643,909			6,049,638			5,324,626			5,396,928
Total deposits	5,935,925			5,372,222			4,556,246			4,228,612			4,284,317

Total stockholders' equity	627,637			614,781			606,631			599,262			588,363






Performance metrics and capital ratios
Yield on LHFI	4.02		%	4.09		%	4.85		%	4.95		%	5.23		%
Yield on interest earnings assets	3.64			3.65			4.37			4.56			4.81
Rate on interest bearing deposits	0.61			0.79			1.28			1.44			1.59
Rate on total deposits	0.42			0.54			0.95			1.04			1.16
Net interest margin, fully tax equivalent	3.18			3.09			3.44			3.58			3.69
Net interest margin, excluding PPP loans, fully tax equivalent (2)	3.28			3.15			N/A			N/A			N/A
Return on average stockholders' equity (annualized)	8.28			3.23			0.50			8.51			9.85
Return on average assets (annualized)	0.77			0.31			0.06			0.97			1.12
PTPP return on average stockholders' equity (annualized) (1)	18.92			17.67			12.41			12.19			15.13
PTPP return on average assets (annualized) (1)	1.77			1.69			1.40			1.38			1.72
Efficiency ratio (3)	56.41			58.47			65.69			66.53			60.98
Book value per common share	$	26.70		$	26.16		$	25.84		$	25.52		$	25.06
Tangible book value per common share (1)	25.39			24.84			24.51			24.18			23.70
Common equity tier 1 to risk-weighted assets (4)	9.93		%	10.35		%	10.86		%	11.74		%	11.43		%
Tier 1 capital to risk-weighted assets (4)	10.08			10.52			11.04			11.94			11.63
Total capital to risk-weighted assets (4)	12.47			12.91			13.38			12.76			12.45
Tier 1 leverage ratio (4)	9.19			9.10			10.71			10.91			10.88

____________________________

(1)PTPP earnings, PTPP return on average stockholders' equity, PTPP return on average assets and tangible book value per common share are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to their comparable GAAP measures, please see page 14.

(2)Net interest margin, excluding PPP loans, fully tax equivalent is calculated by removing average PPP loans from average interest earning assets, and removing the associated interest income (net of 35 basis points assumed cost of funds on average PPP loan balances) from net interest income.

(3)Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.

(4)September 30, 2020, ratios are estimated and calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board.

Origin Bancorp, Inc.

Consolidated Quarterly Statements of Income


	Three months ended
	September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019		September 30, 2019
Interest and dividend income	(Dollars in thousands, except per share amounts, unaudited)
Interest and fees on loans	$	54,150	$	50,722	$	50,049	$	52,331	$	53,932
Investment securities-taxable	2,704		2,732		2,712		2,640		2,786
Investment securities-nontaxable	1,571		1,391		758		772		826
Interest and dividend income on assets held in other financial institutions	375		619		1,497		976		1,262
Total interest and dividend income	58,800		55,464		55,016		56,719		58,806
Interest expense
Interest-bearing deposits	5,698		6,620		10,250		11,056		11,623
FHLB advances and other borrowings	1,564		1,641		1,351		1,428		2,420
Junior subordinated debentures	921		913		605		140		141
Total interest expense	8,183		9,174		12,206		12,624		14,184
Net interest income	50,617		46,290		42,810		44,095		44,622
Provision for credit losses	13,633		21,403		18,531		2,377		4,201
Net interest income after provision for credit losses	36,984		24,887		24,279		41,718		40,421
Noninterest income
Service charges and fees	3,268		2,990		3,320		3,488		3,620
Mortgage banking revenue	9,523		10,717		2,769		3,359		3,092
Insurance commission and fee income	3,218		3,109		3,687		2,428		3,203
Gain on sales of securities, net	301		—		54		—		20

(Loss) on sales and disposals of other assets, net	(247)		(908)		(25)		(38)		(132)
Limited partnership investment income (loss)	130		9		(429)		(267)		279
Swap fee income	110		1,527		676		151		1,351

Other fee income	576		607		466		440		414
Other income	1,172		1,025		1,626		1,257		1,033
Total noninterest income	18,051		19,076		12,144		10,818		12,880
Noninterest expense
Salaries and employee benefits	22,597		24,045		21,988		22,074		21,523
Occupancy and equipment, net	4,263		4,267		4,221		4,241		4,274
Data processing	2,065		2,075		2,003		1,801		1,763
Electronic banking	954		890		900		936		924
Communications	422		419		477		454		411
Advertising and marketing	1,281		610		711		991		930
Professional services	785		843		1,171		878		956
Regulatory assessments	1,310		766		615		679		(387)
Loan related expenses	1,809		1,509		1,142		1,400		1,315
Office and operations	1,367		1,344		1,441		1,632		1,712
Intangible asset amortization	237		287		299		302		302
Franchise tax expense	511		514		496		496		683
Other expenses	1,133		651		633		650		658
Total noninterest expense	38,734		38,220		36,097		36,534		35,064
Income before income tax expense	16,301		5,743		326		16,002		18,237
Income tax (benefit) expense	3,206		786		(427)		3,175		3,620
Net income	$	13,095	$	4,957	$	753	$	12,827	$	14,617
Basic earnings per common share	$	0.56	$	0.21	$	0.03	$	0.55	$	0.62
Diluted earnings per common share	0.56		0.21		0.03		0.55		0.62

Origin Bancorp, Inc.

Selected YTD Financial Data


	Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)	2020			2019
Income statement and share amounts	(Unaudited)			(Unaudited)
Net interest income	$	139,717		$	129,617
Provision for credit losses	53,567			7,191
Noninterest income	49,271			35,660
Noninterest expense	113,051			107,540
Income before income tax expense	22,370			50,546
Income tax expense	3,565			9,491
Net income	$	18,805		$	41,055
PTPP earnings (1)	$	75,937		$	57,737
Basic earnings per common share (2)	$	0.81		$	1.75
Diluted earnings per common share(2)	0.80			1.73
Dividends declared per common share	0.278			0.1575
Weighted average common shares outstanding - basic	23,358,672			23,520,438
Weighted average common shares outstanding - diluted	23,498,838			23,722,384




Performance metrics
Yield on LHFI	4.28		%	5.26		%
Yield on interest earning assets	3.85			4.84
Rate on interest bearing deposits	0.87			1.56
Rate on total deposits	0.62			1.15
Net interest margin, fully tax equivalent	3.22			3.73
Net interest margin, excluding PPP loans, fully tax equivalent (3)	3.28			N/A
Return on average stockholders' equity (annualized)	4.05			9.54
Return on average assets (annualized)	0.41			1.09
PTPP return on average stockholders' equity (annualized) (1)	16.37			13.42
PTPP return on average assets (annualized) (1)	1.64			1.53


Efficiency ratio (4)	59.82			65.07

____________________________

(1)PTPP earnings, PTPP return on average stockholders' equity, and PTPP return on average assets are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to their comparable GAAP measures, please see page 15.

(2)Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock shares on the year-to-date average common outstanding calculation, and the effect of rounding, the sum of the 2019 quarterly earnings per common share will not equal the 2019 year-to-date earnings per common share amount.

(3)Net interest margin, excluding PPP loans, fully tax equivalent is calculated by removing average PPP loans from average interest earning assets, and removing the associated interest income (net of 35 basis points assumed cost of funds on average PPP loan balances) from net interest income.

(4)Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.

Origin Bancorp, Inc.

Consolidated Balance Sheets


(Dollars in thousands)	September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019		September 30, 2019
Assets	(Unaudited)		(Unaudited)		(Unaudited)				(Unaudited)
Cash and due from banks	$	61,250	$	57,054	$	91,104	$	62,160	$	79,005
Interest-bearing deposits in banks	160,661		99,282		469,075		229,358		229,757
Total cash and cash equivalents	221,911		156,336		560,179		291,518		308,762
Securities:
Available for sale	797,260		720,616		601,637		501,070		492,461
Held to maturity, net of allowance for credit losses	38,193		38,287		28,383		28,620		28,759
Securities carried at fair value through income	11,813		11,977		12,242		11,513		11,745
Total securities	847,266		770,880		642,262		541,203		532,965
Non-marketable equity securities held in other financial institutions	38,052		41,864		52,267		39,808		49,205
Loans held for sale	155,525		121,541		75,322		64,837		67,122
Loans	5,612,666		5,312,194		4,481,185		4,143,195		4,188,497
Less: allowance for credit losses	81,643		70,468		56,063		37,520		37,126
Loans, net of allowance for credit losses	5,531,023		5,241,726		4,425,122		4,105,675		4,151,371
Premises and equipment, net	79,254		80,025		80,193		80,457		80,921
Mortgage servicing rights	14,322		15,235		16,122		20,697		19,866
Cash surrender value of bank-owned life insurance	37,332		37,102		36,874		37,961		37,755
Goodwill and other intangible assets, net	30,717		30,953		31,241		31,540		31,842
Accrued interest receivable and other assets	145,936		148,247		130,056		110,930		117,119
Total assets	$	7,101,338	$	6,643,909	$	6,049,638	$	5,324,626	$	5,396,928
Liabilities and Stockholders' Equity
Noninterest-bearing deposits	$	1,599,436	$	1,584,746	$	1,115,811	$	1,077,706	$	1,154,660
Interest-bearing deposits	3,640,587		3,041,859		2,673,881		2,360,096		2,309,387
Time deposits	695,902		745,617		766,554		790,810		820,270
Total deposits	5,935,925		5,372,222		4,556,246		4,228,612		4,284,317
FHLB advances and other borrowings	360,325		478,260		716,909		417,190		419,681
Subordinated debentures	78,596		78,567		78,539		9,671		9,664
Accrued expenses and other liabilities	98,855		100,079		91,313		69,891		94,903
Total liabilities	6,473,701		6,029,128		5,443,007		4,725,364		4,808,565

Stockholders' equity
Common stock	117,533		117,506		117,380		117,405		117,409
Additional paid-in capital	236,679		236,156		235,709		235,623		235,018
Retained earnings	251,427		240,506		237,720		239,901		229,246

Accumulated other comprehensive income	21,998		20,613		15,822		6,333		6,690
Total stockholders' equity	627,637		614,781		606,631		599,262		588,363
Total liabilities and stockholders' equity	$	7,101,338	$	6,643,909	$	6,049,638	$	5,324,626	$	5,396,928

Origin Bancorp, Inc.

Loan Data


	At and for the three months ended
(Dollars in thousands, unaudited)	September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019		September 30, 2019
LHFI
Commercial real estate	$	1,367,916	$	1,323,754	$	1,302,520	$	1,296,847	$	1,305,006
Construction/land/land development	560,857		570,032		563,820		517,688		509,905
Residential real estate	832,055		769,354		703,263		689,555		680,803
Total real estate loans	2,760,828		2,663,140		2,569,603		2,504,090		2,495,714
Paycheck Protection Program ("PPP")	552,329		549,129		—		—		—
Commercial and industrial excl. PPP	1,263,279		1,313,405		1,455,497		1,343,475		1,367,595

Mortgage warehouse lines of credit	1,017,501		769,157		437,257		274,659		304,917
Consumer	18,729		17,363		18,828		20,971		20,271
Total LHFI	5,612,666		5,312,194		4,481,185		4,143,195		4,188,497
Less: allowance for credit losses	81,643		70,468		56,063		37,520		37,126
LHFI, net	$	5,531,023	$	5,241,726	$	4,425,122	$	4,105,675	$	4,151,371

Nonperforming assets
Nonperforming LHFI
Commercial real estate	$	4,669	$	4,717	$	11,306	$	6,994	$	7,460
Construction/land/land development	2,976		3,726		3,850		4,337		860
Residential real estate	8,259		6,713		4,076		5,132		5,254
Commercial and industrial	14,255		14,772		13,619		14,520		17,745
Consumer	69		119		181		163		153
Total nonperforming LHFI	30,228		30,047		33,032		31,146		31,472
Nonperforming loans held for sale	483		734		840		927		1,462
Total nonperforming loans	30,711		30,781		33,872		32,073		32,934
Repossessed assets	718		4,155		5,296		4,753		4,565
Total nonperforming assets	$	31,429	$	34,936	$	39,168	$	36,826	$	37,499







Classified assets	$	101,577	$	100,299	$	79,980	$	69,870	$	73,516
Past due LHFI (1)	29,194		23,751		51,018		29,980		29,965

Allowance for credit losses
Balance at beginning of period	$	70,468	$	56,063	$	37,520	$	37,126	$	36,683
Impact of adopting ASC 326	—		—		1,248		—		—
Provision for loan credit losses	12,970		20,878		18,396		3,167		3,435
Loans charged off	2,293		6,587		1,425		3,268		5,415
Loan recoveries	498		114		324		495		2,423
Net charge-offs	1,795		6,473		1,101		2,773		2,992
Balance at end of period	$	81,643	$	70,468	$	56,063	$	37,520	$	37,126

Origin Bancorp, Inc.

Loan Data - Continued


	At and for the three months ended
(Unaudited)	September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019		September 30, 2019
Credit quality ratios
Total nonperforming assets to total assets	0.44	%	0.53	%	0.65	%	0.69	%	0.69	%
Total nonperforming loans to total loans	0.53		0.57		0.74		0.76		0.77
Nonperforming LHFI to LHFI	0.54		0.57		0.74		0.75		0.75

Past due LHFI to LHFI	0.52		0.45		1.14		0.72		0.72


Allowance for credit losses to nonperforming LHFI	270.09		234.53		169.72		120.46		117.97
Allowance for credit losses to total LHFI	1.45		1.33		1.25		0.91		0.89
Allowance for credit losses to total LHFI excluding PPP and warehouse loans (2)	2.00		1.75		1.37		0.96		0.95
Net charge-offs (recoveries) to total average LHFI (annualized)	0.13		0.53		0.11		0.26		0.29

____________________________

(1)Past due LHFI are defined as loans 30 days or more past due.

(2)The allowance for credit losses ("ACL") to total LHFI excluding PPP and warehouse loans is calculated by excluding the ACL for warehouse loans from the numerator and excluding the PPP and warehouse loans from the denominator. Mortgage warehouse loans increased significantly during the period, but, due to their low-risk profile, require a disproportionately low allocation of the allowance for credit losses.

Origin Bancorp, Inc.

Average Balances and Yields/Rates


	Three months ended
	September 30, 2020		June 30, 2020				September 30, 2019
	Average Balance		Yield/Rate		Average Balance			Yield/Rate		Average Balance		Yield/Rate
Assets	(Dollars in thousands, unaudited)
Commercial real estate	$	1,344,853	4.29	%	$	1,307,715		4.45	%	$	1,259,274	5.22	%
Construction/land/land development	575,080		4.42		562,233			4.40		533,328		5.48
Residential real estate	787,247		4.35		742,657			4.44		676,650		5.07
Paycheck Protection Program ("PPP")	550,377		2.49		449,680			2.72		—		—
Commercial and industrial excl. PPP	1,295,105		4.09		1,378,898			3.92		1,340,684		5.26

Mortgage warehouse lines of credit	723,876		3.87		462,088			3.79		236,042		4.92
Consumer	18,209		6.27		18,362			6.45		20,959		6.90
LHFI	5,294,747		4.02		4,921,633			4.09		4,066,937		5.23
Loans held for sale	88,811		2.79		91,991			3.10		33,814		4.15
Loans receivable	5,383,558		4.00		5,013,624			4.07		4,100,751		5.22
Investment securities-taxable	539,993		2.00		492,752			2.22		448,766		2.48
Investment securities-nontaxable	252,304		2.49		208,667			2.67		103,053		3.21
Non-marketable equity securities held in other financial institutions	39,229		2.53		51,713			2.29		49,025		2.76
Interest-bearing balances due from banks	204,288		0.24		345,906			0.38		152,580		2.39

Total interest-earning assets	6,419,372		3.64	%	6,112,662			3.65	%	4,854,175		4.81	%
Noninterest-earning assets(1)	327,213				334,864					325,374
Total assets	$	6,746,585			$	6,447,526				$	5,179,549

Liabilities and Stockholders' Equity
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts	$	3,011,389	0.39	%	$	2,633,520		0.51	%	$	2,071,990	1.36	%
Time deposits	730,705		1.50		751,607			1.75		828,993		2.16
Total interest-bearing deposits	3,742,094		0.61		3,385,127			0.79		2,900,983		1.59

FHLB advances and other borrowings	532,689		1.17		657,332			1.00		475,860		1.96
Securities sold under agreements to repurchase	10,506		0.10		13,776			0.10		25,302		1.09
Subordinated debentures	78,585		4.69		78,557			4.65		9,661		5.69
Total interest-bearing liabilities	4,363,874		0.75	%	4,134,792			0.89	%	3,411,806		1.65	%
Noninterest-bearing liabilities
Noninterest-bearing deposits	1,633,510				1,578,987					1,076,344
Other liabilities(1)	119,668				115,849					102,895
Total liabilities	6,117,052				5,829,628					4,591,045
Stockholders' Equity	629,533				617,898					588,504
Total liabilities and stockholders' equity	$	6,746,585			$	6,447,526				$	5,179,549
Net interest spread			2.89	%				2.76	%			3.16	%
Net interest margin			3.14	%				3.05	%			3.65	%
Net interest margin - (tax- equivalent)(2)			3.18	%				3.09	%			3.69	%
Net interest margin excluding PPP loans - (tax- equivalent)(3)			3.28	%				3.15	%			N/A

____________________________

(1)Includes Government National Mortgage Association ("GNMA") repurchase average balances of $31.7 million, $29.0 million, and $23.7 million for the three months ended September 30, 2020, June 30, 2020, and September 30, 2019, respectively. The GNMA repurchase asset and liability are recorded as equal offsetting amounts in the consolidated balance sheets, with the asset included in Loans held for sale and the liability included in FHLB advances and other borrowings.

(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.

Non-GAAP Financial Measures


(Dollars in thousands, except per share amounts, unaudited)	September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019			September 30, 2019
Calculation of Tangible Common Equity:
Total common stockholders' equity	$	627,637		$	614,781		$	606,631		$	599,262		$	588,363
Less: goodwill and other intangible assets, net	30,717			30,953			31,241			31,540			31,842
Tangible Common Equity	$	596,920		$	583,828		$	575,390		$	567,722		$	556,521

Calculation of Tangible Book Value per Common Share:
Divided by common shares outstanding at the end of the period	23,506,586			23,501,233			23,475,948			23,480,945			23,481,781
Tangible Book Value per Common Share	$	25.39		$	24.84		$	24.51		$	24.18		$	23.70

Calculation of PTPP Earnings:
Net Income	$	13,095		$	4,957		$	753		$	12,827		$	14,617
Plus: provision for credit losses	13,633			21,403			18,531			2,377			4,201
Plus: income tax expense	3,206			786			(427)			3,175			3,620
PTPP Earnings	$	29,934		$	27,146		$	18,857		$	18,379		$	22,438

Calculation of PTPP ROAA and PTPP ROAE:
PTPP Earnings	$	29,934		$	27,146		$	18,857		$	18,379		$	22,438
Divided by number of days in the quarter	92			91			91			92			92
Multiplied by the number of days in the year	366			366			366			365			365
Annualized PTPP Earnings	$	119,085		$	109,181		$	75,842		$	72,917		$	89,020

Divided by total average assets	$	6,746,585		$	6,447,526		$	5,400,704		$	5,271,979		$	5,179,549
PTPP ROAA (annualized)	1.77		%	1.69		%	1.40		%	1.38		%	1.72		%

Divided by total average stockholder's equity	$	629,533		$	617,898		$	611,162		$	597,925		$	588,504
PTPP ROAE (annualized)	18.92		%	17.67		%	12.41		%	12.19		%	15.13		%

Origin Bancorp, Inc.

Non-GAAP Financial Measures - Continued


	Nine Months Ended September 30,
(Dollars in thousands, except per share amounts, unaudited)	2020			2019
Calculation of PTPP Earnings:
Net Income	$	18,805		$	41,055
Plus: provision for credit losses	53,567			7,191
Plus: income tax expense	3,565			9,491
PTPP Earnings	$	75,937		$	57,737

Calculation of PTPP ROAA and PTPP ROAE:
PTPP Earnings	$	75,937		$	57,737
Divided by number of days in this period	274			273
Multiplied by the number of days in the year	366			365
Annualized PTPP Earnings	$	101,434		$	77,194

Divided by total average assets	$	6,200,273		$	5,032,646
PTPP ROAA (annualized)	1.64		%	1.53		%

Divided by total average stockholder's equity	$	619,567		$	575,223
PTPP ROAE (annualized)	16.37		%	13.42		%

a09_30x2020obnkip992-fin

ORIGIN BANCORP, INC. 3Q TWENTY20 INVESTOR PRESENTATION ORIGIN BANCORP, INC. _______

FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES This presentation 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" or the "Company") future financial performance, business and growth strategy, projected plans and objectives, including the Company's loan loss reserves and allowance for credit losses related to the COVID-19 pandemic and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including expectations regarding and efforts to respond to the COVID-19 pandemic and continued low interest rates or interest rate cuts 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 "assuming," "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" 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 the Company's future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the continuing duration and impacts of the COVID-19 global pandemic and efforts to contain its transmission, including the effect of these factors on Origin's business, customers and economic conditions generally as well as the impact of the actions taken by governmental authorities to address the impact of COVID-19 on the United States economy, including, without limitation, the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"); deterioration of Origin's asset quality; factors that can impact the performance of Origin's loan portfolio, including real estate values and liquidity in Origin's primary market areas; the financial health of Origin's commercial borrowers and the success of construction projects that Origin finances; changes in the value of collateral securing Origin's loans; Origin's ability to anticipate interest rate changes and manage interest rate risk; the effectiveness of Origin's risk management framework and quantitative models; 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; business and economic conditions generally and in the financial services industry, nationally and within Origin's primary market areas; changes in Origin's operation or expansion strategy or Origin's ability to prudently manage its growth and execute its strategy; changes in management personnel; Origin's ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; increasing costs as Origin grows deposits; operational risks associated with Origin's business; volatility and direction of market interest rates; increased competition in the financial services industry, particularly from regional and national institutions; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which Origin operates and in which its loans are concentrated; an increase in unemployment levels and slowdowns in economic growth; Origin's level of nonperforming assets and the costs associated with resolving any problem loans including litigation and other costs; the credit risk associated with the substantial amount of commercial real estate, construction and land development, and commercial loans in Origin's loan portfolio; changes in laws, rules, regulations, interpretations or policies relating to financial institutions; periodic changes to the extensive body of accounting rules and best practices; further government intervention in the U.S. financial system; compliance with governmental and regulatory requirements, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and others relating to banking, consumer protection, securities and tax matters; 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; changes in the utility of Origin's non-GAAP liquidity measurements and its underlying assumptions or estimates; uncertainty regarding the future of the London Interbank Offered Rate and the impact of any replacement alternatives on Origin's business; natural disasters and adverse weather events, acts of terrorism, an outbreak of hostilities, regional or national protests and civil unrest (including any resulting branch closures or property damage), widespread illness or public health outbreaks or other international or domestic calamities, and other matters beyond Origin's control; and system failures, cybersecurity threats and/or security breaches and the cost of defending against them. 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") 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 purpose only, are not forecasts and may not reflect actual results. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the recent outbreak of the COVID-19 pandemic and the impact of varying governmental responses, including the CARES Act, that affect Origin's customers and the economies where they operate. Origin reports its results in accordance with United States generally accepted accounting principles ("GAAP"). However, management believes that certain supplemental non-GAAP financial measures used in managing its business may provide meaningful information to investors about underlying trends in its business. Management uses these non-GAAP measures to evaluate the Company's operating performance and believes that these non-GAAP measures provide information that is important to investors and that is useful in understanding Origin's results of operations. 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 presentation: • Tangible common equity is defined as total common stockholders' equity less goodwill and other intangible assets, net • Tangible assets is defined as total assets less goodwill and other intangible assets • Tangible common equity to tangible assets is determined by dividing tangible common equity by tangible assets • Tangible book value per common share is determined by dividing tangible common equity by common shares outstanding at the end of the period • Pre-tax pre-provision earnings is calculated by adding provision for credit losses and income tax expense to net income • Pre-tax pre-provision return on average assets is calculated by dividing pre-tax pre-provision earnings by number of days in the quarter, multiplying by the number of days in the year, then dividing by total average assets • Pre-tax pre-provision return on average stockholder's equity is calculated by dividing pre-tax pre-provision earnings by number of days in the quarter, multiplying by the number of days in the year, then dividing by total average stockholder's equity 2 See the last two slides in this presentation for a reconciliation between the non-GAAP measures used in this presentation and their comparable GAAP numbers. ORIGIN BANCORP, INC. _______

COMPANY SNAPSHOT • Origin Bancorp, Inc., the holding company for Origin Bank, is headquartered in Ruston, LA • Origin Bank was founded in 1912 • 43 banking centers operating across Texas, Louisiana & Mississippi 9 19 6 CONSOLIDATED FINANCIAL HIGHLIGHTS 9 3Q2020 DOLLARS IN MILLIONS TOTAL ASSETS $7,101 TOTAL LOANS HELD FOR INVESTMENT $5,613 TOTAL DEPOSITS (1) $5,936 DOLLARS IN MILLIONS TOTAL STOCKHOLDERS' EQUITY $628 DALLAS - FORT WORTH HOUSTON TANGIBLE COMMON EQUITY (2) Entry: 2008 Entry: 2013 $597 Loans: $2,476 Loans: $970 Deposits: $1,493 Deposits: $948 TANGIBLE COMMON EQUITY/ TANGIBLE ASSETS (2) Banking Centers: 9 Banking Centers: 9 8.44% NORTH LOUISIANA CENTRAL MISSISSIPPI TOTAL CAPITAL TO RISK-WEIGHTED ASSETS 12.47% Entry: 1912 Entry: 2010 Loans: $1,480 Loans: $687 Note: All financial information and other Origin Bank data is as of 9/30/20. Deposits: $2,310 Deposits: $511 (1) Includes $674.0 million in non-market based deposits that are not reflected in state deposits. Banking Centers: 19 Banking Centers: 6 (2) As used in this presentation, tangible common equity and tangible common equity/tangible assets are non-GAAP financial measures. For a reconciliation of non-GAAP financial 3 measures to their comparable GAAP measures, see slide 22 of this presentation. ORIGIN BANCORP, INC. _______

A UNIQUE & DEFINED CULTURE 4 ORIGIN BANCORP, INC. _______

FINANCIAL RESULTS - THIRD QUARTER 2020 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS Linked Qtr Linked Qtr YoY YoY Balance Sheet 3Q2020 2Q2020 3Q2019 $ Δ % Δ $ Δ % Δ Total Loans Held For Investment ("LHFI") $ 5,612,666 $ 5,312,194 $ 4,188,497 $ 300,472 5.7 % $ 1,424,169 34.0 % Total Assets 7,101,338 6,643,909 5,396,928 457,429 6.9 1,704,410 31.6 Total Deposits 5,935,925 5,372,222 4,284,317 563,703 10.5 1,651,608 38.6 Tangible Common Equity(1) 596,920 583,828 556,521 13,092 2.2 40,399 7.3 Book Value per Common Share 26.70 26.16 25.06 0.54 2.1 1.64 6.5 Tangible Book Value per Common Share(1) 25.39 24.84 23.70 0.55 2.2 1.69 7.1 Income Statement Net Interest Income 50,617 46,290 44,622 4,327 9.3 5,995 13.4 Provision for Credit Losses 13,633 21,403 4,201 (7,770) (36.3) 9,432 224.5 Noninterest Income 18,051 19,076 12,880 (1,025) (5.4) 5,171 40.1 Noninterest Expense 38,734 38,220 35,064 514 1.3 3,670 10.5 Net Income 13,095 4,957 14,617 8,138 164.2 (1,522) (10.4) Pre-Tax Pre-Provision Earnings ("PTPP")(1) 29,934 27,146 22,438 2,788 10.3 7,496 33.4 Diluted EPS 0.56 0.21 0.62 0.35 166.7 (0.06) (9.7) Dividends Declared per Common Share 0.0925 0.0925 0.0925 — — — — Selected Ratios NIM - FTE 3.18 % 3.09 % 3.69 % 9 bp 2.9 % -51 bp (13.8) % Efficiency Ratio 56.41 58.47 60.98 -206 bp (3.5) -457 bp (7.5) ROAA (annualized) 0.77 0.31 1.12 46 bp 148.4 -35 bp (31.3) ROAE (annualized) 8.28 3.23 9.85 505 bp 156.3 -157 bp (15.9) PTPP ROAA (annualized)(1) 1.77 1.69 1.72 8 bp 4.7 5 bp 2.9 PTPP ROAE (annualized)(1) 18.92 17.67 15.13 125 bp 7.1 379 bp 25.0 (1) As used in this presentation, tangible common equity, tangible book value per common share, PTPP, PTPP ROAA, and PTPP ROAE are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to their comparable GAAP measures, see slide 22 of this presentation. 5 ORIGIN BANCORP, INC. _______

FINANCIAL RESULTS - YEAR TO DATE 2020 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS YoY YoY Income Statement YTD 2020 YTD 2019 $ Δ % Δ Net Interest Income $ 139,717 $ 129,617 $ 10,100 7.8 % Provision for Credit Losses 53,567 7,191 46,376 644.9 Noninterest Income 49,271 35,660 13,611 38.2 Noninterest Expense 113,051 107,540 5,511 5.1 Net Income 18,805 41,055 (22,250) (54.2) PTPP(1) 75,937 57,737 18,200 31.5 Diluted EPS 0.80 1.73 (0.93) (53.8) Dividends Declared per Common Share 0.2775 0.1575 0.12 76.2 Selected Ratios NIM - FTE 3.22 % 3.73 % -51 bp (13.7) % Efficiency Ratio 59.82 65.07 -525 bp (8.1) ROAA (annualized) 0.41 1.09 -68 bp (62.4) ROAE (annualized) 4.05 9.54 -549 bp (57.5) PTPP ROAA (annualized)(1) 1.64 1.53 11 bp 7.2 PTPP ROAE (annualized)(1) 16.37 13.42 295 bp 22.0 (1) As used in this presentation, PTPP, PTPP ROAA, and PTPP ROAE are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to their comparable GAAP measures, see slide 23 of this presentation. 6 ORIGIN BANCORP, INC. _______

SUPPORTING OUR CUSTOMERS - FORBEARANCE AND PPP LOANS DOLLARS IN THOUSANDS COVID-19 LHFI Forbearances 6/30/2020 8/31/2020 9/30/2020 Estimated 12/31/2020 Forbearance Forbearance Forbearance Forbearance Industry Amount % of LHFI(1) Amount % of LHFI(1) Amount % of LHFI(1) Amount % of LHFI(1) Hotel $ 59,258 92.5 % $ 58,183 86.4 % $ 58,482 91.4 % $ 36,752 57.5 % Energy 6,776 10.8 9,571 16.8 870 1.6 — — Non-Essential Retail 82,424 56.2 52,131 34.4 39,989 26.4 13,681 9.0 Restaurant 100,209 74.7 50,748 35.4 29,619 21.8 9,277 6.8 Assisted Living 48,935 34.9 59,744 41.7 21,625 14.9 11,470 7.9 Other 709,564 16.8 181,785 4.1 146,521 3.2 54,113 1.2 Total $ 1,007,166 21.1 % $$ 1,007,166 412,162 8.3 $ 297,106 5.9 % $ 125,293 2.5 % (1) Does not include PPP loans. Forbearance Highlights PPP Highlights • • Forbearances represented 6% of total LHFI, excl. • Funded $552.3 million in PPP loans as of 9/30/2020 PPP loans, at 9/30/2020. • Average PPP loan: $177K; Median loan: $36K • 57% of forbearances at 9/30/2020 were full deferment • Total interest and fee income recognized in 3Q2020: and 43% were partial deferments. $3.4 million, $12.1 million of net fees yet to be recognized at . 9/30/2020. • Origin anticipates a 58% reduction from 9/30/2020 in amounts under forbearance by 12/31/2020. • Over 3,100 loans • PPP loans estimated to support over 63,300 jobs at companies impacted by COVID-19 • PPP loans of $50K or less totaled $35.7 million at 9/30/2020 7 ORIGIN BANCORP, INC. _______

DEPOSIT TRENDS DOLLARS IN MILLIONS Average Deposits Loans & Deposits by State at 9/30/2020 $5,376 (2) $4,964 Loans Deposits $731 $4,203 $4,325 $3,977 $752 $307 $224 26% $803 $782 $827 $162 $162 44% $168 $2,704 $2,410 12% $2,283 $1,906 $2,088 10% $1,579 $1,634 $1,076 $1,150 $1,098 62% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 46% Noninterest-bearing Interest-bearing (1) Brokered Time Deposits Deposit Cost Trends (QTD Annualized) Time Deposit Repricing Schedule (3) 2.16% 2.08% 1.98% Maturity Balance WAR 1.75% 1.59% 4Q2020 173 1.57 1.44% 1.50% 1.36% 1.28% 1.21% 1Q2021 154 1.40 1.05% 0.79% 2Q2021 103 1.15 1.16% 1.04% 0.61% 0.95% 0.54% 3Q2021 92 0.96 0.42% 0.51% 0.39% 4Q2021+ 174 1.43 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Total $ 696 1.36 % Time Deposits Total Interest-bearing Deposits Cost of Total Deposits Savings & Interest-bearing Transaction Accounts (1) Average brokered time deposits are included in the brokered category. (2) Non-market based deposits of $674.0 million are not included in state deposits. 8 (3) Target time deposit rates 50 basis points or less for new deposits. ORIGIN BANCORP, INC. _______

WELL DIVERSIFIED LOAN PORTFOLIO DOLLARS IN MILLIONS Loan Composition at 9/30/2020: (1) $5,060 C&I, Owner Occupied C&D and CRE, Mtg. Warehouse: (1) $2,877 Owner Occupied Mtg. Warehouse: 20% Real Estate & Construction: 9% Construction/Land/Land Finance & Insurance: 5% Commercial & Development ("C&D"): 2% Industrial ("C&I"): Transportation: 2% 25% Consumer Svc: 2% Residential Owner Occupied Real Estate Commercial Real Estate Restaurant: 2% and Consumer: ("CRE"): 10% 17% Mtg. Bank: 2% Warehouse: Healthcare: 2% Non-Owner 20% Retail Dealer: 2% Occupied Non- Government & Edu: 1% CRE: 17% Owner Occupied Commercial Svc: 1% C&D: 9% Entertainment: 1% Energy: 1% C&I, Owner Occupied C&D and CRE, Mtg. Warehouse: 57% Misc: 7% Non-Owner Occupied C&D and CRE: 26% Loan Portfolio Details Non-Owner Occupied C&D and CRE: (1) $1,333 (Dollars in thousands) 3Q2020 2Q2020 1Q2020 4Q2019 3Q2019 C&I excl. PPP $ 1,263,279 $ 1,313,405 $ 1,455,497 $ 1,343,475 $ 1,367,595 Owner Occupied C&D 100,589 120,776 122,928 117,118 111,792 Owner Occupied CRE 495,366 459,661 463,834 441,555 421,052 Mtg. Warehouse 1,017,501 769,157 437,257 274,659 304,917 Non-Owner Occupied C&D 460,268 449,256 440,892 400,570 398,113 Misc: 1% Non-Owner Occupied CRE 872,550 864,093 838,686 855,292 883,954 Restaurant: 1% Hotel: 1% Residential Real Estate 832,055 769,354 703,263 689,555 680,803 Multi-family: 2% Consumer Loans 18,729 17,363 18,828 20,971 20,271 Other Retail Shopping: 2% Real Estate & Construction: 5% Non-Essential Retail Shopping: 3% PPP Loans 552,329 549,129 — — — Other Healthcare: 3% Office Building: 5% Total Loans $ 5,612,666 $ 5,312,194 $ 4,481,185 $ 4,143,195 $ 4,188,497 Assisted Living: 3% (1) Does not include loans held for sale or PPP loans. 9 ORIGIN BANCORP, INC. _______

DEEP DIVE - SELECTED SECTORS(1) LHFI(2) at 9/30/2020 • LHFI (excl. PPP loans net of deferred fees and All Other LHFI: costs) were $5.06 billion at 9/30/2020, an increase 89.0% of $297.3 million, or 6.2%, compared to 6/30/2020, and an increase of $917.1 million, or 22.1%, Non-Essential compared to 12/31/2019. Retail: 3.0% Assisted Living: 2.9% • Five sectors accounted for 11.0% of total LHFI Restaurant: 2.7% (excl. PPP loans net of deferred fees and costs). Hotel: 1.3% Energy: 1.1% Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 Hotel $ 63,951 $ 64,043 $ 63,264 $ 61,846 Energy 55,526 62,695 82,786 69,161 Non-Essential Retail 151,201 146,566 131,187 139,516 Restaurant 135,801 134,104 132,430 123,530 Assisted Living 144,756 140,218 118,790 111,229 Subtotal 551,235 547,626 528,457 505,282 All other LHFI (2) 4,509,102 4,215,439 3,952,728 3,637,913 Total LHFI (2) $ 5,060,337 $ 4,763,065 $ 4,481,185 $ 4,143,195 (1) Selected sectors include hotel, energy, non-essential retail, restaurant and assisted living and exclude PPP loans. (2) LHFI excluding PPP loans. 10 ORIGIN BANCORP, INC. _______

HOTEL SECTOR(1) Hotel Portfolio at 9/30/2020 Hotel Stats: Bed-and-Breakfast: 2% IHG: 6% • Balance represented 1.3% of total LHFI excl. PPP loans Private • Past due: 0%; NPL: $0 Label: 6% • No conference center hotels Hilton: 30% Choice: 12% • Total forbearance amount: $58,482K $64.0M ◦ 40% in full forbearance ◦ 60% in partial forbearance Hyatt: 17% Marriott: 27% • Pre-COVID-19 hotel sector LTV 41% and DSCR 1.40x Hotels and Motels (by flag): 98% Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 Hotels & Motels $ 62,915 $ 62,999 $ 62,212 $ 60,816 Bed-and-Breakfast Inns 1,036 1,044 1,052 1,030 Total Hotel $ 63,951 $ 64,043 $ 63,264 $ 61,846 (1) Excluding PPP loans. 11 ORIGIN BANCORP, INC. _______

ENERGY SECTOR (1) Energy Portfolio at 9/30/2020 Energy Stats: • Balance represented 1.1% of total LHFI excl. PPP loans Midstream: 18% • Past due: 4.0%; NPL: $2.2 million • No exploration & production lending exposure • Total forbearance amount: $870K $55.5M ◦ 100% in partial forbearance • Pre-COVID-19 energy sector LTV 78% and DSCR 12.36x Services: 82% Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 Services (2) $ 45,334 $ 52,567 $ 69,956 $ 56,331 Midstream 10,193 10,128 12,830 12,830 Total Energy $ 55,527 $ 62,695 $ 82,786 $ 69,161 (1) Excluding PPP loans. (2) Past dues excluding NPLs for Energy Services is 0% 12 ORIGIN BANCORP, INC. _______

NON-ESSENTIAL RETAIL SECTOR (1) Non-Essential Retail Portfolio at 9/30/2020 Non-Essential Retail Stats: • Balance represented 3.0% of total LHFI excl. PPP loans Retail Shopping: 8% • Past due: 1.8%; NPL: $3.0 million • Total forbearance amount: $39,989K CRE ◦ 81% in full forbearance Retail Stores: 27% $151.2M ◦ 19% in partial forbearance • Pre-COVID-19 non-essential retail sector LTV 56% and National DSCR 1.47x Credit Tenant: 65% Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 National Credit Tenant $ 98,108 $ 89,204 $ 69,513 $ 83,468 CRE Retail Stores 40,392 44,637 45,006 45,124 Retail Shopping 12,701 12,725 16,668 10,924 Total Non-Essential Retail $ 151,201 $ 146,566 $ 131,187 $ 139,516 (1) Excluding PPP loans. 13 ORIGIN BANCORP, INC. _______

RESTAURANT SECTOR(1) Restaurant Portfolio at 9/30/2020 Restaurant Stats: • Balance represented 2.7% of total LHFI excl. PPP loans • Past due: 0%; NPL: $0 Limited-Service • Total forbearance amount: $29,619K Restaurant: 32% Full Service Restaurant: 3… ◦ 83% in full forbearance $135.8M ◦ 17% in partial forbearance • Pre-COVID-19 restaurant sector LTV 54% and DSCR 1.40x CRE Restaurant: 31% Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 Full Service Restaurants $ 51,197 $ 51,195 $ 57,210 $ 55,669 CRE Restaurant 41,613 34,504 47,161 41,712 Limited-Service Restaurant 42,991 48,405 28,059 26,149 Total Restaurant $ 135,801 $ 134,104 $ 132,430 $ 123,530 (1) Excluding PPP loans. 14 ORIGIN BANCORP, INC. _______

ASSISTED LIVING SECTOR(1) Assisted Living Portfolio at 9/30/2020 Assisted Living Stats: • Balance represented 2.9% of total LHFI excl. PPP loans • Past due: 1.4%; NPL: $2.1 million Assisted Living Facilities: 100% • Total forbearance amount: $21,625K ◦ 53% in full forbearance $144.8M ◦ 47% in partial forbearance • Pre-COVID-19 assisted living sector LTV 75% and DSCR 0.31x Outstanding Balance (dollars in thousands) 9/30/2020 6/30/2020 3/31/2020 12/31/2019 Assisted Living (2) $ 144,756 $ 140,218 $ 118,790 $ 111,229 (1) Excluding PPP loans. (2) Past due loans excluding NPLs for assisted living, which consists of one relationship, is 0%. 15 ORIGIN BANCORP, INC. _______

CREDIT QUALITY Asset Quality Trends 1.14% 2.0% 2.0% 1.7% 0.75% 0.75% 0.74% 1.6% 0.63% 0.60% 0.72% 0.72% 0.50% 0.58% 0.58% 0.26% 0.11% 0.15% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 4Q2019 1Q2020 2Q2020 3Q2020 Nonperforming LHFI / LHFI excl. PPP loans Classified Loans / Total Loans excl. PPP Loans (1) Past due LHFI / LHFI excl. PPP loans Net Charge-Offs / Average LHFI excl. PPP Loans (annualized) CECL (dollars in thousands) 1/1/2020 3/31/2020 6/30/2020 9/30/2020 Economic Drivers: Commercial real estate $ 4,961 $ 9,254 $ 10,046 $ 14,349 Construction/land/land development 4,852 5,054 6,860 8,450 • Shrinking U.S. economy in 2020 Residential real estate 3,806 4,495 6,911 8,226 Key source: Moody's Analytics Commercial and industrial 24,256 35,823 45,281 48,763 • Elevated unemployment rate Mortgage warehouse lines of credit 291 779 602 904 Key source: Moody's Analytics Consumer 602 658 768 951 • Loss reversion period extended Total Allowance for Credit Losses $ 38,768 $ 56,063 $ 70,468 $ 81,643 to 24 months from 18 months % of LHFI 0.94 % 1.25 % 1.33 % 1.45 % % of LHFI excl. PPP loans and mtg. warehouse 0.99 % 1.37 % 1.75 % 2.00 % (1) Past due LHFI/LHFI excl. PPP loans does not include Government National Mortgage Association ("GNMA") loans available for repurchase approximating $60.1 million, which are included in Loans held for sale on the consolidated balance sheet. When GNMA loans available for repurchase, which are past due 90 days or greater, are included, the ratio of Past due loans/Total loans is 1.68% at September 30, 2020. 16 ORIGIN BANCORP, INC. _______

NET INTEREST INCOME AND NIM TRENDS DOLLARS IN THOUSANDS Net Interest Income Changes - 3Q2020 $50,617 $46,290 $3,430 $44,622 $44,095 $451 $378 $69 $50,617 $42,810 $3,052 $47,187 $922 $44,622 $50,000 $2,692 $44,095 $42,810 $43,238 $(185) $46,290 $45,000 3.69% 3.58% 3.28% $40,000 3.44% 3.15% 3.18% 2Q2020 Deposits 3Q2020 3.09% Warehouse Other LHFI PPP Loans Borrowings 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Other Earning Assets Net Interest Income excl. PPP Loans PPP Loans Net Interest Income NIM Changes - 3Q2020 NIM (FTE) NIM (FTE) excl. PPP Loans 0.04% 3.25% 0.05% 3.18% • Net interest income increased $4.3 million in 3Q2020 from 2Q2020, 0.06% 3.09% (0.04)% and increased $6.0 million in 3Q2020 from 3Q2019. (0.02)% 3.00% • Interest income on mortgage warehouse lines of credit contributed the greatest increase in net interest income, along with deposit cost savings. 2.75% • NIM increased by nine bps to 3.18% in 3Q2020 from 2Q2020 driven by lower cash balances redeployed into higher earning asset classes, deposit cost reductions and mortgage warehouse lines of credit volume increases. Cash 2Q2020 Deposits 3Q2020 Warehouse Investments PPP Loans • Excluding the impact of lower yielding PPP loans, NIM was 3.28%. 17 ORIGIN BANCORP, INC. _______

YIELDS, COSTS AND LHFI PROFILE Yield on LHFI Cost of Funds 5.31% 1.59% 4.95% 4.85% 1.44% 5.23% 4.22% 4.20% 4.83% 1.25% 1.28% 4.44% 1.10% 4.09% 4.02% 1.05% 1.16% 3.25% 3.25% 2.18% 1.04% 0.79% 1.79% 0.95% 1.40% 0.61% 0.65% 0.54% 0.35% 0.54% 0.16% 0.42% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Avg. Prime Rate Yield on LHFI Cost of Interest Bearing Deposits Yield on LHFI excl. PPP Loans Avg. 1M LIBOR Cost of Total Deposits & Borrowings Cost of Total Deposits LHFI: Fixed \ Variable (by Index) at 9/30/2020 • The cost of interest bearing deposits declined 18 bps during 3Q2020, and the cost of total deposits and cost of total Other indices: 5% deposits and borrowings declined 12 bps and 11 bps during 3Q2020, respectively. Prime: 17% • Variable rate LHFI made up 58% of total LHFI excl PPP loans, with 42% based on 1 month LIBOR. Fixed: 42% • The other indices category is primarily LIBOR ARMs. 1m LIBOR: 36% 18 ORIGIN BANCORP, INC. _______

NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS Net Interest Income \ Noninterest Income Noninterest Income $68,668 $65,366 $19,076 $733 $18,051 $57,502 $18,051 $54,913 $54,954 $1,527 $19,076 $1,932 $12,880 $10,818 $12,144 $110 $3,109 $3,218 $12,880 $12,144 $50,617 $46,290 $1,614 $44,622 $44,095 $42,810 $10,818 $1,692 $1,351 $1,392 $676 $151 $3,203 $10,717 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 $2,428 $3,687 $9,523 Net Interest Income Noninterest Income • Noninterest income historically accounts for approximately 20% of $3,092 $3,359 total net revenue, but accounted for 26% in 3Q2020 due to continued $2,769 strong mortgage revenue. • Mortgage banking revenue decreased in 3Q2020 from 2Q2020 due to a reduction in volume of loans funded and sold. $3,620 $3,488 $3,320 $2,990 $3,268 • Swap fee income generation continues to be a focus in 2020. The decrease in 3Q2020 from 2Q2020 was driven by lower transaction volume. 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 • Securities sales created $301,000 in income in Q3 (compared to $0 in Service Charges & Fees Mortgage Banking Revenue Q2), while losses on disposals of other assets declined $661,000 in Insurance Commission & Fee Income Swap Fee Income Q3 compared to Q2. Other 19 ORIGIN BANCORP, INC. _______

NONINTEREST EXPENSE COMPOSITION DOLLARS IN THOUSANDS $38,220 $38,734 • Operating leverage reflects an improving trend in the efficiency ratio, coupled with a decline in the ratio of NIE to average assets primarily as a $36,534 $36,097 result of improved mortgage performance in recent quarters. $35,064 $6,489 $8,442 • Efficiency improvements during the year were partially offset by the $6,786 $6,444 declining interest margin. $5,792 $1,344 $1,367 • Other noninterest expenses in 3Q2020 included $550,000 in donations and $1,632 $1,441 $2,075 $1,712 contributions made to various institutions as part of our initiative to invest a $2,065 $1,801 $2,003 portion of our PPP loan income within the community. $1,763 $4,267 $4,263 • The continued focus is on our technology strategy to build efficient scale to $4,241 $4,221 $4,274 support additional organic growth, with additional focus on branch strategy and operational efficiency to withstand challenges posed by COVID-19. Operating Leverage 100% 3.5% $24,045 $22,597 $21,523 $22,074 $21,988 3.0% 80% 2.75% 2.69% 2.69% 2.38% 2.5% 2.28% 66.53% 65.69% 60% EF FICENCY RATIO (%) 60.98% 58.47% 2.0% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 56.41% NIE / AVERAGE ASSETS (%) AVERAGE NIE / Salaries and Employee Benefits Occupancy and Equipment, net Data Processing Office and Operations 40% 1.5% Other 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 20 ORIGIN BANCORP, INC. _______

CAPITAL Tier 1 Capital to Risk-Weighted Assets Total Capital to Risk-Weighted Assets Bank Level Company Level Sub-debtSub-debt Impact Impact Bank Level Company Level Sub-debt Impact Bank Level Company Level Pro Forma (1) Pro Forma (1) 13.8% 11.9% 13.4% 13.1% 11.3% 11.6% 11.6% 12.8% 13.0% 12.9% 11.0% 12.5% 12.4% 12.5% 1.3% 10.7% 10.5% 10.7% 12.1% 1.1% 10.1% 10.1% 12.5% 1.1% 12.0% 9.6% 11.6% 11.9% 13.4% 11.0% 12.5% 12.8% 12.9% 10.5% 10.1% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Tier 1 Capital to Average Assets (Leverage Ratio) Bank Level Company Level Sub-debt Impact Pro Forma (1) • 2020 Return to Shareholders 10.9% 10.9% 10.7% 10.5% 10.6% 10.4% 9.8% ◦ Return of $7.2 million ($723,000 in stock buyback 9.1% 9.2% 8.8% 1.0% and $6.5 million in common dividends) YTD. 8.8% 10.9% 10.9% 10.7% 9.1% 9.2% 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 (1) The sub-debt pro forma impact was calculated based on $78.8M net proceeds received by the Company in 4Q 2020 with the assumption that $64.8M was passed downstream to the Bank as Tier 1 Capital. The Company and the Bank assume the proceeds are risk weighted at 20%. 21 ORIGIN BANCORP, INC. _______

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS Calculation of Tangible Common Equity: 3Q2020 2Q2020 3Q2019 Total common stockholders' equity $ 627,637 $ 614,781 $ 588,363 Less: goodwill and other intangible assets, net 30,717 30,953 31,842 Tangible Common Equity $ 596,920 $ 583,828 $ 556,521 Calculation of Tangible Assets: Total Assets $ 7,101,338 $ 6,643,909 $ 5,396,928 Less: goodwill and other intangible assets, net 30,717 30,953 31,842 Tangible Assets $ 7,070,621 $ 6,612,956 $ 5,365,086 Tangible Common Equity to Tangible Assets 8.44 % 8.83 % 10.37 % Calculation of Tangible Book Value per Common Share: Divided by common shares outstanding at the end of the period 23,506,586 23,501,233 23,481,781 Tangible Book Value per Common Share $ 25.39 $ 24.84 $ 23.70 Calculation of PTPP Earnings: Net Income $ 13,095 $ 4,957 $ 14,617 Plus: provision for credit losses 13,633 21,403 4,201 Plus: income tax expense 3,206 786 3,620 PTPP Earnings $ 29,934 $ 27,146 $ 22,438 Calculation of PTPP ROAA and PTPP ROAE: PTPP Earnings $ 29,934 $ 27,146 $ 22,438 Divided by number of days in the quarter 92 91 92 Multiplied by the number of days in the year 366 366 365 Annualized PTPP Earnings $ 119,085 $ 109,181 $ 89,020 Divided by total average assets $ 6,746,585 $ 6,447,526 $ 5,179,549 PTPP ROAA (annualized) 1.77 % 1.69 % 1.72 % Divided by total average stockholder's equity $ 629,533 $ 617,898 $ 588,504 PTPP ROAE (annualized) 18.92 % 17.67 % 15.13 % 22 ORIGIN BANCORP, INC. _______

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES YTD DOLLARS IN THOUSANDS YTD 2020 YTD 2019 Calculation of PTPP Earnings: Net Income $ 18,805 $ 41,055 Plus: provision for credit losses 53,567 7,191 Plus: income tax expense 3,565 9,491 PTPP Earnings $ 75,937 $ 57,737 Calculation of PTPP ROAA and PTPP ROAE: PTPP Earnings $ 75,937 $ 57,737 Divided by number of days in the quarter 274 273 Multiplied by the number of days in the year 366 365 Annualized PTPP Earnings $ 101,434 $ 77,194 Divided by total average assets $ 6,200,273 $ 5,032,646 PTPP ROAA (annualized) 1.64 % 1.53 % Divided by total average stockholder's equity $ 619,567 $ 575,223 PTPP ROAE (annualized) 16.37 % 13.42 % 23 ORIGIN BANCORP, INC. _______

Document

Exhibit 99.3

https://cdn.kscope.io/969ea7a65b9378bab02d27bf1ca2fead-obnklogoa531a.jpg

FOR IMMEDIATE RELEASE

October 28, 2020

Origin Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend

RUSTON, LOUISIANA (October 28, 2020) - Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin"), the holding company for Origin Bank, today announced that on October 28, 2020, its Board of Directors declared a quarterly cash dividend of $0.10 per share of its common stock. The cash dividend will be paid on November 30, 2020, to stockholders of record as of the close of business on November 13, 2020.

About Origin Bancorp, Inc.

Origin is a financial holding company for Origin Bank, headquartered in Ruston, Louisiana, which provides a broad range of financial services to small and medium-sized businesses, municipalities, high net-worth individuals and retail clients from 43 banking centers, located from Dallas/Fort Worth, Texas across North Louisiana to Central Mississippi, as well as in Houston, Texas. For more information, visit www.origin.bank.

Forward-Looking Statements

When used in filings by Origin Bancorp, Inc. (the "Company") with the Securities and Exchange Commission (the "SEC"), in the Company's press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "will," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Factors that might cause such a difference include among other things: the expected payment date of its quarterly cash dividend; changes in economic conditions; the duration and impacts of the COVID-19 global pandemic and efforts to contain its transmission, including the effect of these factors on the Company's business, customers and economic conditions generally; legislative action taken by governmental authorities to address the impact of COVID-19 on the United States economy, including, without limitation, the Coronavirus Aid, Relief and Economic Security Act; other legislative changes generally; changes in policies by regulatory agencies; fluctuations in interest rates; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses; the Company's ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in the Company's market area; competition; changes in management’s business strategies and other factors set forth in the Company's filings with the SEC.

The Company does not undertake - and specifically declines any obligation - to update or revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

Investor Relations

Chris Reigelman

318-497-3177

chris@origin.bank

Media Contact

Ryan Kilpatrick

318-232-7472

rkilpatrick@origin.bank