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obnk-20210428
0001516912false00015169122021-04-282021-04-28

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)
April 28, 2021
ORIGIN BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Louisiana001-3848772-1192928
(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 classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $5.00 per shareOBNKNasdaq 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 2.02Results of Operations and Financial Condition
On April 28, 2021, Origin Bancorp, Inc. (the "Registrant") issued a press release announcing its first quarter 2021 results of operations. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.
On Thursday, April 29, 2021, at 8:00 a.m. Central Time, the Registrant will host an investor conference call and webcast to review its first quarter 2021 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 April 28, 2021. 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 8.01Other Events
On April 28, 2021, the Registrant issued a press release announcing that the board of directors of the Registrant declared a quarterly cash dividend of $0.13 per share of its common stock. The cash dividend will be paid on May 31, 2021, to stockholders of record as of the close of business on May 14, 2021. The press release is attached to this report as Exhibit 99.3, which is incorporated herein by reference.
ITEM 9.01Financial Statements and Exhibits
(d)Exhibits.
Exhibit 99.1
Exhibit 99.2
Exhibit 99.3
Exhibit 104Cover 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: April 28, 2021
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/4ea080e74ef455279b911eb2b9bfae66-obnklogoa521.jpg
ORIGIN BANCORP, INC. REPORTS EARNINGS FOR FIRST QUARTER 2021
RUSTON, Louisiana (April 28, 2021) - Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin" or the "Company"), the holding company for Origin Bank (the "Bank"), today announced record net income of $25.5 million for the quarter ended March 31, 2021. This represents an increase of $8.0 million from the quarter ended December 31, 2020, and an increase of $24.8 million from the quarter ended March 31, 2020. Diluted earnings per share for the quarter ended March 31, 2021, were $1.08, up $0.33 from the linked quarter and up $1.05 from the quarter ended March 31, 2020. Pre-tax, pre-provision earnings for the quarter were a record $32.9 million, an increase of 16.3% on a linked quarter basis, and a 74.7% increase on a prior year quarter basis, while the efficiency ratio improved to 54.5%, a 1,120 basis point improvement from the quarter ended March 31, 2020.
“Origin delivered strong first quarter results hitting another historic pre-tax, pre-provision earnings high and an all-time quarterly net income high” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “Our employees remain focused on relationship development and our results for the quarter prove that focus. We will continue to provide shareholder value as we execute on our long-term strategic plan and capitalize on the opportunities before us.”
Financial Highlights
•Net income was $25.5 million for the quarter ended March 31, 2021, achieving an all-time quarterly high compared to $17.6 million for the linked quarter and $753,000 for the quarter ended March 31, 2020.
•Net interest income also achieved a historic quarterly high, reflecting $55.2 million for the quarter ended March 31, 2021, compared to $51.8 million for the linked quarter and $42.8 million for the quarter ended March 31, 2020.
•Provision expense was $1.4 million for the quarter ended March 31, 2021, compared to provision expense of $6.3 million for the linked quarter and $18.5 million for the quarter ended March 31, 2020.
•Total deposits at March 31, 2021, were $6.35 billion, an increase of $594.9 million, or 10.3%, from December 31, 2020, and an increase of $1.79 billion, or 39.3%, from March 31, 2020.
•Total LHFI were $5.85 billion at March 31, 2021, an increase of $125.0 million, or 2.2%, from December 31, 2020, and an increase of $1.37 billion, or 30.5%, from March 31, 2020.
Coronavirus (COVID-19)
Origin has continued to meet customers' needs while keeping the safety and well-being of its employees and customers as its top priority. While the Company allowed restricted access to its offices and branches during the height of the pandemic, the Company's offices and branches have been fully opened since March 15, 2021. Origin continues to maintain social distancing measures for its employees, including the requirement to wear face masks unless working in an office or other location that permits social distancing. The Company also continues to encourage its employees to wash their hands thoroughly and frequently and to sanitize work areas when necessary to promote the safety and health of its employees and customers. Thermal kiosks for temperature checks are in use at the entrance of each location and customers are encouraged to wear face masks when entering Origin bank facilities. The Company continues to provide pandemic Paid Time Off to employees and a dedicated hotline is available to quickly assist employees with any COVID-19 related questions or issues. Origin will continue to examine and evaluate its COVID-19 safety protocols in accordance with public health directives.
1

Credit Quality
The COVID-19 pandemic has had a severe impact on the U.S. economy leading to elevated unemployment levels and a recession. The Company's financial results for the first quarter of 2021 have improved from the results achieved during 2020, but there is still uncertainty surrounding the economic outlook.
The table below includes key credit quality information:
At and for the three months ended
(Dollars in thousands)March 31,
2021		December 31,
2020		March 31,
2020
Allowance for loan credit losses$85,136 $86,670 $56,063 
Classified loans95,321 107,781 74,684 
Total nonperforming LHFI33,358 26,149 33,032 
Provision for credit losses1,412 6,333 18,531 
Net charge-offs2,894 1,757 1,101 
Credit quality ratios:
Allowance for loan credit losses to nonperforming LHFI255.22 %331.45 %169.72 %
Allowance for loan credit losses to total LHFI1.46 1.51 1.25 
Allowance for loan credit losses to total LHFI excluding PPP and warehouse loans (1)
2.02 2.10 1.37 
Nonperforming LHFI to LHFI0.57 0.46 0.74 
Net charge-offs to total average LHFI (annualized)0.21 0.13 0.11 
____________________________
(1)Please see the Loan Data schedule at the back of this document for additional information.
The decrease in provision expense compared to the quarter ended March 31, 2020, was primarily due to improvement in forecasted economic conditions including the passing of additional government stimulus, widespread vaccine availability and reduced levels of new virus cases, at March 31, 2021, as compared to forecasted worsening economic conditions and uncertainty at March 31, 2020. While there are some improvements in economic forecasts, uncertainty remains particularly related to the 2021 year and the deployment and effectiveness of COVID-19 vaccines.
The Company's net charge-offs increased $1.1 million compared to the quarter ended December 31, 2020, and $1.8 million compared to the quarter ended March 31, 2020. The increase in net charge-offs compared to the linked quarter was primarily due to five commercial and industrial loans, reflecting four loan relationships, that were written down during the quarter ended March 31, 2021, totaling $2.8 million. Annualized net charge-offs as a percentage of average LHFI were 0.21% for the quarter ending March 31, 2021, compared to 0.13% for the quarter ended December 31, 2020. For the year ended December 31, 2020, net charge-offs as a percentage of average LHFI was 0.22%.
Classified loans declined $12.5 million at March 31, 2021, compared to December 31, 2020, and represented 1.81% as a percentage of LHFI, excluding PPP loans, and 11.10% as a percentage of total risk-based capital (at the Origin Bancorp, Inc. level) compared to 2.08% and 12.88%, respectively, at December 31, 2020.
The Company continues to closely monitor those industry sectors that could experience a more protracted recovery from the current economic downturn, specifically the sectors of hotels, non-essential retail, restaurants, and assisted living ("selected sectors"). For more information on Origin’s COVID-19 selected sectors, please see the Investor Presentation furnished to the SEC on April 28, 2021, and on Origin's website at www.origin.bank under the Investor Relations, News & Events, Events & Presentations link.
The following table presents certain information on the selected sectors at the periods indicated:
March 31, 2021March 31, 2020
(Dollars in thousands)Balance% of LHFI, excl. PPP loansBalance% of LHFI, excl. PPP loans
LHFI, excluding PPP loans, in selected sectors$510,490 9.7 %$445,671 9.9 %
Nonperforming LHFI in selected sectors1,131 — 14,792 0.3 
Loans in COVID-19 related forbearance5,293 0.1 769,460 17.2 
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Results of Operations for the Three Months Ended March 31, 2021
Net Interest Income and Net Interest Margin

Net interest income for the quarter ended March 31, 2021, was $55.2 million, an increase of $3.4 million, or 6.6%, compared to the linked quarter. The increase was primarily driven by a $2.8 million increase in accelerated PPP fee earnings earned through the forgiveness process and a $793,000 decrease in deposit costs. The yield on PPP loans was 4.40% during the quarter ended March 31, 2021, compared to 2.36% during the linked quarter ended December 31, 2020, driven almost exclusively by the accelerated recognition of deferred loan fees associated with the forgiveness of the underlying PPP loans by the U.S. Small Business Administration.
Interest-bearing deposit expense was $3.8 million during the current quarter, compared to $4.6 million for the quarter ended December 31, 2020, primarily due to a reduction in deposit rates. The average rate on time deposits decreased to 0.95% for the current quarter, down from 1.20% for the linked quarter, contributing $454,000 to the decrease in interest expense on interest-bearing deposits. The average rate on interest-bearing deposits was 0.37% for the current quarter, down from 0.43% for the linked quarter.
The fully tax-equivalent net interest margin ("NIM") was 3.22% for the current quarter, a 15 basis point increase from the linked quarter and a 22 basis point decrease from the quarter ended March 31, 2020. Excluding PPP loans, the fully tax-equivalent NIM was 3.15%, a two basis point decrease from the linked quarter. The impact on the fully tax-equivalent NIM of the recognition of deferred loan fees associated with the forgiveness of the underlying PPP loans during the quarter ended March 31, 2021, when compared to the fully tax-equivalent NIM for December 31, 2020, was 16 basis points. The yield earned on interest-earning assets was 3.58%, a 11 basis point increase and a 79 basis point decrease compared to the linked quarter and the quarter ended March 31, 2020, respectively. Excluding PPP loans, the yield earned on interest-earning assets was 3.51%, a six basis point decrease compared to the linked quarter. The rate paid on total interest-bearing liabilities for the quarter ended March 31, 2021, was 0.57%, representing a decrease of seven basis points and 80 basis points compared to the linked quarter and the quarter ended March 31, 2020, respectively.
Noninterest Income
Noninterest income for the quarter ended March 31, 2021, was $17.1 million, an increase of $1.8 million, or 11.4%, from the linked quarter. The increase from the linked quarter was primarily driven by increases of $1.4 million, $1.4 million and $1.0 million in gain on sales of securities, net, limited partnership investment income, and insurance commission and fee income, respectively, which was partially offset by a $2.0 million decrease in mortgage banking revenue.
The $1.4 million increase in the gain on sale of securities compared to the linked period was the result of the active management of the investment portfolio and the movement out of positions that were not performing in line with expectations.
The $1.4 million increase in the limited partnership investment income during the quarter ended March 31, 2021, compared to the linked quarter was primarily due to valuation increases as a result of investment performance in two funds.
The $1.0 million increase in insurance commission and fee income is attributed to seasonality, as there is typically higher insurance revenue in the first quarter of each year.
The $2.0 million decrease in mortgage banking revenue is mainly due to a decrease in the mortgage loan pipeline during the quarter ended March 31, 2021, when compared to the linked quarter in addition to an increase in 30 year mortgage rates causing the overall pipeline valuation to drop.
Noninterest Expense
Noninterest expense for the quarter ended March 31, 2021, was $39.4 million, an increase of $552,000, compared to the linked quarter. The increase from the linked quarter was largely driven by an increase of $1.5 million in other noninterest expense, which was partially offset by decreases of $428,000 and $203,000 in advertising and marketing expenses, and professional services fee, respectively.
The increase in other noninterest expense was due to prepayment fees of $1.6 million incurred related to the early termination of long-term FHLB advances during the quarter ended March 31, 2021. The Company terminated the advances early due to the relatively high cost of the advances, partially funding the payoff with the sale of lower yielding securities during the quarter.
The decrease in advertising and marketing expense was due to media related campaigns during the quarter ended December 31, 2020, which were not recurring in the current quarter.
3

The decrease in professional services fee was due to a $254,000 consulting fee paid to a loan sale advisor who assisted in the sale of a performing loan during the quarter ended December 31, 2020.
Financial Condition
Loans
•Total LHFI increased $125.0 million compared to the linked quarter and $1.37 billion compared to March 31, 2020.
•PPP loans, net of deferred fees and costs, totaled $584.1 million at March 31, 2021, an increase of $37.6 million compared to the linked quarter. Net deferred loan fees and costs on PPP loans were $11.5 million at March 31, 2021.
•Average LHFI increased $193.6 million, compared to the linked quarter, and $1.53 billion compared to March 31, 2020.
Total LHFI at March 31, 2021, were $5.85 billion, reflecting an increase of 2.2% compared to the linked quarter and an increase of 30.5%, compared to March 31, 2020. The increase in LHFI compared to March 31, 2020, was primarily driven by an increase in mortgage warehouse lines of credit and PPP loans. Mortgage warehouse lines of credit increased by $653.1 million primarily due to increased mortgage activity driven by the continued low interest rate environment, coupled with additional mortgage warehouse clients being onboarded during mid-2020 and funding loans over the last four quarters. Mortgage warehouse loan growth has eased during the current quarter as mortgage interest rates have broadly started to increase from previous levels.
Deposits
•Total deposits increased $594.9 million compared to the linked quarter and increased $1.79 billion compared to March 31, 2020.
•Business depositors drove an increase of $398.5 million and $1.12 billion compared to the linked quarter and March 31, 2020, respectively.
•Average total deposits for the quarter ended March 31, 2021, decreased by $14.2 million over the linked quarter and increased $1.55 billion over the quarter ended March 31, 2020.
Total deposits at March 31, 2021, were $6.35 billion, reflecting an increase of 10.3% compared to the linked quarter and an increase of 39.3% compared to March 31, 2020. Money market, brokered and noninterest-bearing deposits increased by $333.8 million, $140.5 million and $129.0 million, respectively, compared to the linked quarter. Brokered deposits increased in response to changes in funding costs and sources over the current quarter. Historically, from time to time, the Company has used noncore funding sources, including brokered deposits, to support the increase in mortgage warehouse lines of credit and has shifted primarily between brokered deposits and FHLB advances, which may impact the balances in brokered deposits as funding costs and sources change.
Increases of $549.9 million and $508.0 million in money market business and noninterest-bearing business accounts, respectively, drove the increase in total deposits compared to March 31, 2020, primarily due to funds from government stimulus, including PPP loan funds.
For the quarter ended March 31, 2021, average noninterest-bearing deposits as a percentage of total average deposits was 29.0%, compared to 28.7% for the quarter ended December 31, 2020, and 25.4% for the quarter ended March 31, 2020.
Borrowings
•Average FHLB advances and other borrowings for the quarter ended March 31, 2021, increased by $210.3 million, compared to the quarter ended December 31, 2020, and increased by $243.2 million over the quarter ended March 31, 2020.

Average FHLB advances and other borrowings increased 60.5% for the quarter ended March 31, 2021, compared to the quarter ended December 31, 2020, and increased 77.3% compared to the quarter ended March 31, 2020. During the quarter ended March 31, 2021, the Company increased its short-term average FHLB advances to $278.1 million from $64.9 million during the quarter ended December 31, 2020. The increase was primarily due to shifts in funding costs and sources as the Company supports the ongoing mortgage warehouse loan growth. The Company prepaid $13.1 million in long-term FHLB advances during the quarter ended March 31, 2021, and incurred related prepayment fees of $1.6 million.
4

Stockholders' equity was $656.4 million at March 31, 2021, an increase of $9.2 million compared to $647.2 million at December 31, 2020, and an increase of $49.7 million compared to $606.6 million at March 31, 2020. The increase from the linked quarter was primarily due to net income for the quarter of $25.5 million, which was partially offset by the quarterly dividend declared and other comprehensive loss during the quarter ended March 31, 2021. Additionally, during the first quarter of 2021, the Company repurchased a total of 37,568 shares of its common stock pursuant to its stock buyback program at an average price per share of $33.42, for an aggregate purchase price of $1.3 million. The increase from the March 31, 2020, 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 first quarter 2021 results on Thursday, April 29, 2021, 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/obnk210429.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 44 banking centers located from Dallas/Fort Worth and Houston, Texas across North Louisiana and into Mississippi. For more information, visit www.origin.bank.
5

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 changes to interest rates by the Federal Reserve and the resulting impact on Origin's results of operations, estimated forbearance amounts and expectations regarding the Company's liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin's control. Statements or statistics preceded by, followed by or that otherwise include the words "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 continuing development and distribution of COVID-19 vaccines, as well as other efforts to contain the virus's transmission, including the effect of these factors and developments 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, any economic stimulus legislation; 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; the risk of widespread inflation; 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-
6

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 COVID-19 pandemic and the impact of varying governmental responses 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
7
Origin Bancorp, Inc.
Selected Quarterly Financial Data
At and for the three months ended
March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
Income statement and share amounts(Dollars in thousands, except per share amounts, unaudited)
Net interest income
$55,239 $51,819 $50,617 $46,290 $42,810 
Provision for credit losses
1,412 6,333 13,633 21,403 18,531 
Noninterest income
17,131 15,381 18,051 19,076 12,144 
Noninterest expense39,436 38,884 38,734 38,220 36,097 
Income before income tax expense
31,522 21,983 16,301 5,743 326 
Income tax (benefit) expense
6,009 4,431 3,206 786 (427)
Net income
$25,513 $17,552 $13,095 $4,957 $753 
Pre-tax, pre-provision ("PTPP") earnings (1)
$32,934 $28,316 $29,934 $27,146 $18,857 
Basic earnings per common share
1.09 0.75 0.56 0.21 0.03 
Diluted earnings per common share
1.08 0.75 0.56 0.21 0.03 
Dividends declared per common share0.10 0.10 0.0925 0.0925 0.0925 
Weighted average common shares outstanding - basic
23,393,356 23,392,684 23,374,496 23,347,744 23,353,601 
Weighted average common shares outstanding - diluted
23,590,430 23,543,917 23,500,596 23,466,326 23,530,212 
Balance sheet data
Total LHFI
$5,849,760 $5,724,773 $5,612,666 $5,312,194 $4,481,185 
Total assets
7,563,175 7,628,268 7,101,338 6,643,909 6,049,638 
Total deposits6,346,194 5,751,315 5,935,925 5,372,222 4,556,246 
Total stockholders' equity
656,355 647,150 627,637 614,781 606,631 
Performance metrics and capital ratios
Yield on LHFI4.03 %3.89 %4.02 %4.09 %4.85 %
Yield on interest earnings assets3.58 3.47 3.64 3.65 4.37 
Cost of interest bearing deposits0.37 0.43 0.61 0.79 1.28 
Cost of total deposits0.26 0.31 0.42 0.54 0.95 
Net interest margin, fully tax equivalent3.22 3.07 3.18 3.09 3.44 
Net interest margin, excluding PPP loans, fully tax equivalent (2)
3.15 3.17 3.28 3.15 N/A
Return on average stockholders' equity (annualized)15.73 10.92 8.28 3.23 0.50 
Return on average assets (annualized)1.40 0.97 0.77 0.31 0.06 
PTPP return on average stockholders' equity (annualized) (1)
20.30 17.61 18.92 17.67 12.41 
PTPP return on average assets (annualized) (1)
1.81 1.57 1.77 1.69 1.40 
Efficiency ratio (3)
54.49 57.86 56.41 58.47 65.69 
Book value per common share$27.94 $27.53 $26.70 $26.16 $25.84 
Tangible book value per common share (1)
26.66 26.23 25.39 24.84 24.51 
Common equity tier 1 to risk-weighted assets (4)
10.16 %9.95 %9.93 %10.35 %10.86 %
Tier 1 capital to risk-weighted assets (4)
10.32 10.11 10.09 10.52 11.04 
Total capital to risk-weighted assets (4)
13.92 13.79 12.48 12.91 13.38 
Tier 1 leverage ratio (4)
8.67 8.62 9.19 9.10 10.71 
____________________________
(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)March 31, 2021, ratios are estimated and calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board.
8
Origin Bancorp, Inc.
Consolidated Quarterly Statements of Income

Three months ended
March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
Interest and dividend income(Dollars in thousands, except per share amounts, unaudited)
Interest and fees on loans$56,810 $54,193 $54,150 $50,722 $50,049 
Investment securities-taxable3,300 3,154 2,704 2,732 2,712 
Investment securities-nontaxable1,672 1,708 1,571 1,391 758 
Interest and dividend income on assets held in other financial institutions345 367 375 619 1,497 
Total interest and dividend income62,127 59,422 58,800 55,464 55,016 
Interest expense
Interest-bearing deposits3,789 4,582 5,698 6,620 10,250 
FHLB advances and other borrowings1,269 1,339 1,564 1,641 1,351 
Subordinated debentures1,830 1,682 921 913 605 
Total interest expense6,888 7,603 8,183 9,174 12,206 
Net interest income
55,239 51,819 50,617 46,290 42,810 
Provision for credit losses1,412 6,333 13,633 21,403 18,531 
Net interest income after provision for credit losses53,827 45,486 36,984 24,887 24,279 
Noninterest income
Service charges and fees3,343 3,420 3,268 2,990 3,320 
Mortgage banking revenue4,577 6,594 9,523 10,717 2,769 
Insurance commission and fee income3,771 2,732 3,218 3,109 3,687 
Gain on sales of securities, net1,668 225 301 — 54 
(Loss) on sales and disposals of other assets, net(38)(33)(247)(908)(25)
Limited partnership investment income (loss)1,772 368 130 9 (429)
Swap fee income348 233 110 1,527 676 
Other fee income771 604 576 607 466 
Other income919 1,238 1,172 1,025 1,626 
Total noninterest income17,131 15,381 18,051 19,076 12,144 
Noninterest expense
Salaries and employee benefits22,325 22,475 22,597 24,045 21,988 
Occupancy and equipment, net4,339 4,271 4,263 4,267 4,221 
Data processing2,173 2,178 2,065 2,075 2,003 
Electronic banking961 942 954 890 900 
Communications415 449 422 419 477 
Advertising and marketing680 1,108 1,281 610 711 
Professional services973 1,176 785 843 1,171 
Regulatory assessments1,170 1,135 1,310 766 615 
Loan related expenses1,705 1,856 1,809 1,509 1,142 
Office and operations1,454 1,472 1,367 1,344 1,441 
Intangible asset amortization234 237 237 287 299 
Franchise tax expense619 665 511 514 496 
Other expenses2,388 920 1,133 651 633 
Total noninterest expense39,436 38,884 38,734 38,220 36,097 
Income before income tax expense31,522 21,983 16,301 5,743 326 
Income tax expense (benefit)6,009 4,431 3,206 786 (427)
Net income$25,513 $17,552 $13,095 $4,957 $753 
Basic earnings per common share$1.09 $0.75 $0.56 $0.21 $0.03 
Diluted earnings per common share1.08 0.75 0.56 0.21 0.03 

9
Origin Bancorp, Inc.
Consolidated Balance Sheets
(Dollars in thousands)March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
Assets(Unaudited)(Unaudited)(Unaudited)(Unaudited)
Cash and due from banks$64,330 $60,544 $61,250 $57,054 $91,104 
Interest-bearing deposits in banks200,571 316,670 160,661 99,282 469,075 
Total cash and cash equivalents264,901 377,214 221,911 156,336 560,179 
Securities:
Available for sale980,132 1,004,674 797,260 720,616 601,637 
Held to maturity, net of allowance for credit losses37,983 38,128 38,193 38,287 28,383 
Securities carried at fair value through income11,077 11,554 11,813 11,977 12,242 
Total securities1,029,192 1,054,356 847,266 770,880 642,262 
Non-marketable equity securities held in other financial institutions47,274 62,586 38,052 41,864 52,267 
Loans held for sale144,950 191,512 155,525 121,541 75,322 
Loans5,849,760 5,724,773 5,612,666 5,312,194 4,481,185 
Less: allowance for loan credit losses85,136 86,670 81,643 70,468 56,063 
Loans, net of allowance for loan credit losses5,764,624 5,638,103 5,531,023 5,241,726 4,425,122 
Premises and equipment, net81,064 81,763 79,254 80,025 80,193 
Mortgage servicing rights17,552 13,660 14,322 15,235 16,122 
Cash surrender value of bank-owned life insurance37,757 37,553 37,332 37,102 36,874 
Goodwill and other intangible assets, net30,246 30,480 30,717 30,953 31,241 
Accrued interest receivable and other assets145,615 141,041 145,936 148,247 130,056 
Total assets$7,563,175 $7,628,268 $7,101,338 $6,643,909 $6,049,638 
Liabilities and Stockholders' Equity
Noninterest-bearing deposits$1,736,534 $1,607,564 $1,599,436 $1,584,746 $1,115,811 
Interest-bearing deposits3,962,082 3,478,985 3,640,587 3,041,859 2,673,881 
Time deposits647,578 664,766 695,902 745,617 766,554 
Total deposits6,346,194 5,751,315 5,935,925 5,372,222 4,556,246 
FHLB advances and other borrowings325,751 984,608 360,325 478,260 716,909 
Subordinated debentures157,239 157,181 78,596 78,567 78,539 
Accrued expenses and other liabilities77,636 88,014 98,855 100,079 91,313 
Total liabilities6,906,820 6,981,118 6,473,701 6,029,128 5,443,007 
Stockholders' equity
Common stock
117,444 117,532 117,533 117,506 117,380 
Additional paid-in capital236,934 237,341 236,679 236,156 235,709 
Retained earnings289,792 266,628 251,427 240,506 237,720 
Accumulated other comprehensive income12,185 25,649 21,998 20,613 15,822 
Total stockholders' equity656,355 647,150 627,637 614,781 606,631 
Total liabilities and stockholders' equity$7,563,175 $7,628,268 $7,101,338 $6,643,909 $6,049,638 
10
Origin Bancorp, Inc.
Loan Data
At and for the three months ended
(Dollars in thousands, unaudited)March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
LHFI
Commercial real estate$1,454,649 $1,387,939 $1,367,916 $1,323,754 $1,302,520 
Construction/land/land development548,236 531,860 560,857 570,032 563,820 
Residential real estate904,753 885,120 832,055 769,354 703,263 
Total real estate loans2,907,638 2,804,919 2,760,828 2,663,140 2,569,603 
Paycheck Protection Program584,148 546,519 552,329 549,129 — 
Commercial and industrial1,250,350 1,271,343 1,263,279 1,313,405 1,455,497 
Mortgage warehouse lines of credit1,090,347 1,084,001 1,017,501 769,157 437,257 
Consumer17,277 17,991 18,729 17,363 18,828 
Total LHFI5,849,760 5,724,773 5,612,666 5,312,194 4,481,185 
Less: allowance for loan credit losses85,136 86,670 81,643 70,468 56,063 
LHFI, net$5,764,624 $5,638,103 $5,531,023 $5,241,726 $4,425,122 
Nonperforming assets
Nonperforming LHFI
Commercial real estate$1,085 $3,704 $4,669 $4,717 $11,306 
Construction/land/land development2,431 2,962 2,976 3,726 3,850 
Residential real estate10,692 6,530 8,259 6,713 4,076 
Commercial and industrial19,094 12,897 14,255 14,772 13,619 
Consumer56 56 69 119 181 
Total nonperforming LHFI33,358 26,149 30,228 30,047 33,032 
Nonperforming loans held for sale963 681 483 734 840 
Total nonperforming loans34,321 26,830 30,711 30,781 33,872 
Repossessed assets3,893 1,927 718 4,155 5,296 
Total nonperforming assets$38,214 $28,757 $31,429 $34,936 $39,168 
Classified assets$99,214 $109,708 $101,577 $100,299 $79,980 
Past due LHFI (1)
26,574 25,763 29,194 23,751 51,018 
Allowance for loan credit losses
Balance at beginning of period$86,670 $81,643 $70,468 $56,063 $37,520 
Impact of adopting ASC 326— — — — 1,248 
Provision for loan credit losses1,360 6,784 12,970 20,878 18,396 
Loans charged off3,027 2,089 2,293 6,587 1,425 
Loan recoveries133 332 498 114 324 
Net charge-offs2,894 1,757 1,795 6,473 1,101 
Balance at end of period$85,136 $86,670 $81,643 $70,468 $56,063 
11
Origin Bancorp, Inc.
Loan Data - Continued
At and for the three months ended
(Dollars in thousands, unaudited)March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
Credit quality ratios
Total nonperforming assets to total assets0.51 %0.38 %0.44 %0.53 %0.65 %
Total nonperforming loans to total loans0.57 0.45 0.53 0.57 0.74 
Nonperforming LHFI to LHFI0.57 0.46 0.54 0.57 0.74 
Past due LHFI to LHFI0.45 0.45 0.52 0.45 1.14 
Allowance for loan credit losses to nonperforming LHFI255.22 331.45 270.09 234.53 169.72 
Allowance for loan credit losses to total LHFI1.46 1.51 1.45 1.33 1.25 
Allowance for loan credit losses to total LHFI excluding PPP and warehouse loans (2)
2.02 2.10 2.00 1.75 1.37 
Net charge-offs to total average LHFI (annualized)0.21 0.13 0.13 0.53 0.11 
Net charge-offs (recoveries) to total average LHFI (annualized), excluding PPP loans0.23 0.14 0.15 0.58 0.11 
____________________________
(1)Past due LHFI are defined as loans 30 days or more past due.
(2)The allowance for loan 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 loan credit losses.
12
Origin Bancorp, Inc.
Average Balances and Yields/Rates
Three months ended
March 31, 2021December 31, 2020March 31, 2020
Average BalanceYield/RateAverage BalanceYield/RateAverage BalanceYield/Rate
Assets(Dollars in thousands, unaudited)
Commercial real estate$1,421,819 4.16 %$1,362,025 4.27 %$1,274,633 4.88 %
Construction/land/land development541,782 4.09 533,756 4.21 545,076 5.21 
Residential real estate888,208 4.04 853,299 4.23 695,040 4.79 
Paycheck Protection Program ("PPP")565,653 4.40 551,325 2.36 — — 
Commercial and industrial excl. PPP1,255,436 3.95 1,242,018 3.83 1,372,801 4.74 
Mortgage warehouse lines of credit961,808 3.67 897,716 3.81 210,480 4.46 
Consumer17,649 5.81 18,575 6.03 19,687 6.77 
LHFI5,652,355 4.03 5,458,714 3.89 4,117,717 4.85 
Loans held for sale87,177 2.71 114,196 2.73 33,288 4.89 
Loans receivable5,739,532 4.01 5,572,910 3.87 4,151,005 4.85 
Investment securities-taxable750,801 1.78 662,527 1.89 450,576 2.42 
Investment securities-nontaxable295,000 2.30 291,702 2.33 102,954 2.96 
Non-marketable equity securities held in other financial institutions60,326 1.45 39,763 1.99 40,494 3.09 
Interest-bearing balances due from banks196,616 0.27 236,772 0.28 319,953 1.49 
Total interest-earning assets7,042,275 3.58 6,803,674 3.47 5,064,982 4.37 
Noninterest-earning assets(1)
340,220 360,354 335,722 
Total assets$7,382,495 $7,164,028 $5,400,704 
Liabilities and Stockholders' Equity
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts$3,513,281 0.26 %$3,520,543 0.29 %$2,444,953 1.05 %
Time deposits656,255 0.95 677,651 1.20 781,907 1.98 
Total interest-bearing deposits4,169,536 0.37 4,198,194 0.43 3,226,860 1.28 
FHLB advances and other borrowings557,798 0.92 347,494 1.53 314,616 1.73 
Subordinated debentures157,221 4.72 144,475 4.63 51,308 4.74 
Total interest-bearing liabilities4,884,555 0.57 4,690,163 0.64 3,592,784 1.37 
Noninterest-bearing liabilities
Noninterest-bearing deposits1,700,523 1,686,088 1,097,646 
Other liabilities(1)
139,554 148,269 99,112 
Total liabilities6,724,632 6,524,520 4,789,542 
Stockholders' Equity657,863 639,508 611,162 
Total liabilities and stockholders' equity$7,382,495 $7,164,028 $5,400,704 
Net interest spread3.01 %2.83 %3.00 %
Net interest margin3.18 3.03 3.40 
Net interest margin - (tax- equivalent)(2)
3.22 3.07 3.44 
Net interest margin excluding PPP loans - (tax- equivalent)(3)
3.15 3.17 3.44 
____________________________
(1)Includes Government National Mortgage Association ("GNMA") repurchase average balances of $59.0 million, $61.9 million, and $27.9 million for the three months ended March 31, 2021, December 31, 2020, and March 31, 2020, 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.
(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.
13
Origin Bancorp, Inc.
Non-GAAP Financial Measures


At and for the three months ended
March 31,
2021		December 31,
2020		September 30,
2020		June 30,
2020		March 31,
2020
Calculation of Tangible Common Equity:(Dollars in thousands, except per share amounts, unaudited)
Total common stockholders' equity$656,355 $647,150 $627,637 $614,781 $606,631 
Less: goodwill and other intangible assets, net30,246 30,480 30,717 30,953 31,241 
Tangible Common Equity$626,109 $616,670 $596,920 $583,828 $575,390 
Calculation of Tangible Book Value per Common Share:
Divided by common shares outstanding at the end of the period23,488,884 23,506,312 23,506,586 23,501,233 23,475,948 
Tangible Book Value per Common Share$26.66 $26.23 $25.39 $24.84 $24.51 
Calculation of PTPP Earnings:
Net Income$25,513 $17,552 $13,095 $4,957 $753 
Plus: provision for credit losses1,412 6,333 13,633 21,403 18,531 
Plus: income tax expense6,009 4,431 3,206 786 (427)
PTPP Earnings$32,934 $28,316 $29,934 $27,146 $18,857 
Calculation of PTPP ROAA and PTPP ROAE:
PTPP Earnings$32,934 $28,316 $29,934 $27,146 $18,857 
Divided by number of days in the quarter90 92 92 91 91 
Multiplied by the number of days in the year365 366 366 366 366 
Annualized PTPP Earnings$133,566 $112,648 $119,085 $109,181 $75,842 
Divided by total average assets$7,382,495 $7,164,028 $6,746,585 $6,447,526 $5,400,704 
PTPP ROAA (annualized)1.81 %1.57 %1.77 %1.69 %1.40 %
Divided by total average stockholder's equity$657,863 $639,508 $629,533 $617,898 $611,162 
PTPP ROAE (annualized)20.30 %17.61 %18.92 %17.67 %12.41 %


14
a03_31x2021obnkip992
ORIGIN BANCORP, INC. _______ 1Q TWENTY21 INVESTOR PRESENTATION ORIGIN BANCORP, INC.

 
ORIGIN BANCORP, INC. _______ 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 changes to interest rates by the Federal Reserve and the resulting impact on Origin's results of operations, estimated forbearance amounts and expectations regarding the Company's liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin's control. Statements or statistics preceded by, followed by or that otherwise include the words "assumes," "anticipates," "believes," "estimates," "expects," “foresees,” "intends," "plans," "projects," and similar expressions or future or conditional verbs such as "could," "may," “might,” "should," "will," and "would" and variations of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Further, certain factors that could affect 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 continuing development and distribution of COVID-19 vaccines, as well as other efforts to contain the virus's 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, any economic stimulus legislation; 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; the risk of widespread inflation; 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, 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 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 COVID-19 pandemic and the impact of varying governmental responses, including any future economic stimulus legislation 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 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 See the last slide in this presentation for a reconciliation between the non-GAAP measures used in this presentation and their comparable GAAP numbers. 2 FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES

 
ORIGIN BANCORP, INC. _______ 9 10 19 6 TEXAS Entry: DFW 2008 | Houston 2013 Loans: $2,649 Deposits: $2,917 LOUISIANA Entry: 1912 Loans: $1,470 Deposits: $2,559 DOLLARS IN MILLIONS (1) (2) 3 ORIGIN COMPANY SNAPSHOT • Origin Bancorp, Inc., the holding company for Origin Bank, is headquartered in Ruston, LA • Origin Bank was founded in 1912 • 44 banking centers operating across Texas, Louisiana & Mississippi DEPOSITS & LOANS BY STATE Note: All financial information is as of 3/31/21. (1) Non-market based deposits of $400.6 million are not included in state deposits. (2) Excludes mortgage warehouse loans. MISSISSIPPI Entry: 2010 Loans: $641 Deposits: $469 8% 13% 43% 31% 49% 56% Loans (2)Deposits (1) ICS ICS

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

 
ORIGIN BANCORP, INC. _______ Balance Sheet 1Q2021 4Q2020 1Q2020 Linked Qtr $ Δ Linked Qtr % Δ YoY $ Δ YoY % Δ Total Loans Held For Investment ("LHFI") $ 5,849,760 $ 5,724,773 $ 4,481,185 $ 124,987 2.2 % $ 1,368,575 30.5 % Total Assets 7,563,175 7,628,268 6,049,638 (65,093) (0.9) 1,513,537 25.0 Total Deposits 6,346,194 5,751,315 4,556,246 594,879 10.3 1,789,948 39.3 Tangible Common Equity(1) 626,109 616,670 575,390 9,439 1.5 50,719 8.8 Book Value per Common Share 27.94 27.53 25.84 0.41 1.5 2.10 8.1 Tangible Book Value per Common Share(1) 26.66 26.23 24.51 0.43 1.6 2.15 8.8 Income Statement Net Interest Income 55,239 51,819 42,810 3,420 6.6 12,429 29.0 Provision for Credit Losses 1,412 6,333 18,531 (4,921) (77.7) (17,119) (92.4) Noninterest Income 17,131 15,381 12,144 1,750 11.4 4,987 41.1 Noninterest Expense 39,436 38,884 36,097 552 1.4 3,339 9.3 Net Income 25,513 17,552 753 7,961 45.4 24,760 3,288.2 Pre-Tax, Pre-Provision Earnings ("PTPP")(1) 32,934 28,316 18,857 4,618 16.3 14,077 74.7 Diluted EPS 1.08 0.75 0.03 0.33 44.0 1.05 3,500.0 Dividends Declared per Common Share 0.10 0.10 0.0925 — — 0.01 8.1 Selected Ratios NIM - FTE 3.22 % 3.07 % 3.44 % 15 bp 4.9 -22 bp (6.4) Efficiency Ratio 54.49 57.86 65.69 -337 bp (5.8) -1120 bp (17.0) ROAA (annualized) 1.40 0.97 0.06 43 bp 44.3 134 bp 2,233.3 ROAE (annualized) 15.73 10.92 0.50 481 bp 44.0 1523 bp 3,046.0 PTPP ROAA (annualized)(1) 1.81 1.57 1.40 24 bp 15.3 41 bp 29.3 PTPP ROAE (annualized)(1) 20.30 17.61 12.41 269 bp 15.3 789 bp 63.6 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS 5 (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 18 of this presentation. FINANCIAL RESULTS - FIRST QUARTER 2021

 
ORIGIN BANCORP, INC. _______ 6 1,311 1,741 1,956 2,562 2,649 884 1,067 1,127 1,553 1,600 427 674 829 1,009 1,049 DFW Houston 2017 2018 2019 2020 1Q2021 Deposit Trends by Texas Market ($) (1) Loan Trends by Texas Market ($) (2) TEXAS GROWTH STORY Texas Franchise Highlights DOLLARS IN MILLIONS • 19 branches throughout 5 counties in the 4th and 5th largest MSAs in the United States • Texas franchise represents 56% of LHFI, excluding mortgage warehouse loans, and 49% of deposits(1) at March 31, 2021 1,171 1,395 1,854 2,574 2,917 647 772 989 1,581 1,875524 623 865 993 1,042 DFW Houston 2017 2018 2019 2020 1Q2021 CAGR 2 4.2% CAG R 32. 4% (1) Non-market based deposits of $400.6 million are not included in state deposits. (2) Excludes mortgage warehouse loans.

 
ORIGIN BANCORP, INC. _______ 7 COVID-19 LHFI Forbearances Highlights 6/30/2020 9/30/2020 12/31/2020 3/31/2021 Industry Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Hotel 59,258 92.5 58,482 91.4 21,959 34.7 301 0.5 Non-Essential Retail 82,424 56.2 39,989 26.4 25,177 14.3 — — Restaurant 100,209 74.7 29,619 21.8 7,761 6.6 1,595 1.3 Assisted Living 48,935 34.9 21,625 14.9 11,470 8.1 — — Other 716,340 16.7 147,391 4.8 31,285 2.4 3,397 0.1 Total 1,007,166 21.1 297,106 5.9 97,652 1.9 5,293 0.1 SUPPORTING OUR CUSTOMERS - FORBEARANCE AND PPP LOANS DOLLARS IN THOUSANDS PPP Highlights ISOC ISOC ISOC ISOC ISOC Originations Forgiveness Fees PPP Round Total $ Total # Percent of PPP $ Applied for or Forgiven at 3/31/2021 % Percent of PPP $ Forgiven at 3/31/2021 % Total SBA Fees Received as of 3/31/2021 $ Net Fees Outstanding at 3/31/2021 $ Round 1 570,327 3,445 61.3 28.1 17,040 5,328 Round 2 197,068 1,491 — — 7,277 6,181 Total 767,395 4,936 61.3 28.1 24,317 11,509 (1) LHFI excluding PPP loans.

 
ORIGIN BANCORP, INC. _______ 8 MOBILE FEATURE ADOPTION RATES(1) SUPPORTING OUR CUSTOMERS - LEVERAGING TECHNOLOGY ZELLE® USERS 54.9% GROWTH ZELLE® TRANSFERS 95.5% GROWTH 32.8% TRANSFER ADOPTION % ORIGIN BANK 29.3% INDUSTRY BENCHMARK 24.3% DEPOSIT ADOPTION % ORIGIN BANK 17.4% INDUSTRY BENCHMARK 7.7% BILL PAY ADOPTION % ORIGIN BANK 5.5% INDUSTRY BENCHMARK (1) All data provided by FIS Metrics Intelligence based upon asset size peer groups for the month of March 2021. REGISTERED APP USERS 14.2% GROWTH MOBILE DEPOSIT TRANSACTIONS 29.5% GROWTH Note: Growth rates compare March 2021 to March 2020. ILT

 
ORIGIN BANCORP, INC. _______ 9 4,325 4,964 5,376 5,884 1,098 1,579 1,634 1,686 1,701 2,283 2,410 2,704 2,869 3,076 162 224 307 651 437 782 752 731 678 656 5,870 Noninterest-bearing Interest-bearing Brokered Time Deposits 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Deposits by State (%)(1)Average Deposits ($) (1)Non-market based deposits are not included in state deposits. DEPOSIT TRENDS 1.98 1.75 1.50 1.20 0.95 1.28 0.79 0.61 0.43 0.37 0.95 0.54 0.42 0.26 Time Deposits Total Interest-bearing Deposits Cost of Total Deposits 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Deposit Cost Trends (QTD Annualized) (%) Time Deposit Repricing Schedule * Maturity Balance WAR 2Q2021 $ 173 0.81 % 3Q2021 156 0.69 4Q2021 90 0.72 1Q2022 76 0.67 2Q2022+ 153 1.19 Total $ 648 0.84 % 0.31 0.51 1.05 DOLLARS IN MILLIONS 33 39 44 46 49 50 50 45 45 43 17 11 11 9 8 Texas Louisiana Mississippi 2017 2018 2019 2020 1Q2021 0.42 0.29% 0.26 0.260.39 IDT * Target time deposit rates 25 basis points or less for new and renewed deposits.

 
ORIGIN BANCORP, INC. _______ Real Estate & Construction: 5% Office Building: 5% Assisted Living: 3% Non-Essential Retail Shopping: 3% Other Healthcare: 2% Essential Retail Shopping: 2% Multi-family: 2% Hotel: 1% Misc: 3% Mtg. Warehouse: 21% Real Estate & Construction: 8% Finance & Insurance: 6% Transportation: 2% Retail Dealer: 2% Healthcare: 2% Restaurants: 2% Banks: 2% Professional Svc: 1% Customer Svc: 1% Commercial Svc: 1% Entertainment: 1% Wholesale Distribution: 1% Misc: 6% Owner Occupied Construction/Land/Land Development ("C&D"): 2% Owner Occupied Commercial Real Estate ("CRE"): 9% 10 WELL DIVERSIFIED LOAN PORTFOLIO (Dollars in thousands) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 C&I excl. PPP $ 1,455,497 $ 1,313,405 $ 1,263,279 $ 1,271,343 $ 1,250,350 Owner Occupied C&D 122,928 120,776 100,589 100,755 104,415 Owner Occupied CRE 463,834 459,661 495,366 460,524 483,624 Mtg. Warehouse 437,257 769,157 1,017,501 1,084,001 1,090,347 Total Commercial 2,479,516 2,662,999 2,876,735 2,916,623 2,928,736 Non-Owner Occupied C&D 440,892 449,256 460,268 431,105 443,821 Non-Owner Occupied CRE 838,686 864,093 872,550 927,415 971,025 Residential Real Estate 703,263 769,354 832,055 885,120 904,753 Consumer Loans 18,828 17,363 18,729 17,991 17,277 PPP Loans — 549,129 552,329 546,519 584,148 Total Loans $ 4,481,185 $ 5,312,194 $ 5,612,666 $ 5,724,773 $ 5,849,760 Loan Portfolio Details Non-Owner Occupied C&D and CRE: (1) $1,415 C&I, Owner Occupied C&D and CRE, Mtg. Warehouse: (1) $2,929 C&I, Owner Occupied C&D and CRE, Mtg. Warehouse: 56% Non-Owner Occupied C&D and CRE: 26% (1) Does not include loans held for sale or PPP loans. Loan Composition at 3/31/2021: (1) $5,266 Commercial & Industrial ("C&I"): 24% Mtg. Warehouse: 21% Non- Owner Occupied C&D: 8% Residential Real Estate and Consumer: 18% Non-Owner Occupied CRE: 18% DOLLARS IN MILLIONS ILP

 
ORIGIN BANCORP, INC. _______ 11 LHFI(2) at 3/31/2021 Non-Essential Retail: 3.4% Assisted Living: 2.8% Restaurant: 2.3% Hotel: 1.2% All Other LHFI: 90.3% Outstanding Balance (Dollars in thousands) 3/31/2020 6/30/2020 9/30/2020 12/31/2020 3/31/2021 Hotel $ 63,264 $ 64,043 $ 63,951 $ 63,218 $ 62,319 Non-Essential Retail 131,187 146,566 151,201 176,522 180,394 Restaurant 132,430 134,104 135,801 117,844 119,700 Assisted Living 118,790 140,218 144,756 141,657 148,077 Subtotal 445,671 484,931 495,709 499,241 510,490 All other LHFI (2) 4,035,514 4,278,134 4,564,628 4,679,013 4,755,122 Total LHFI (2) $ 4,481,185 $ 4,763,065 $ 5,060,337 $ 5,178,254 $ 5,265,612 DEEP DIVE - SELECTED SECTORS (1) Selected sectors include hotel, non-essential retail, restaurant and assisted living and exclude PPP loans. (2) LHFI excluding PPP loans. (1) SELECTED SECTOR CREDIT METRICS: • Total selected sector past due: $808,000, or 0.16% of total selected sectors; • Total selected sector classified loans: $5.9 million, or 1.16% of total selected sectors; • Total selected sector NPL: $1.1 million, or 0.22% of total selected sectors; • Total selected sector allowance for loan credit losses ("ALCL"): $13.0 million, or 2.55% of total selected sectors; • Total selected sector forbearances: $1.9 million, or 0.37% of total selected sectors. ICDD

 
ORIGIN BANCORP, INC. _______ 1.70 2.00 2.00 2.10 1.81 Classified Loans / Total Loans excl. PPP Loans (%) Net Charge-Offs / Average LHFI excl. PPP Loans (annualized) (%) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 0.11 0.58 0.15 0.14 0.23 0.74 0.63 0.60 0.50 0.63 1.14 0.50 0.58 0.50 0.50 Nonperforming LHFI / LHFI excl. PPP loans (%) Past due LHFI / LHFI excl. PPP loans (%) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 12 CREDIT QUALITY Asset Quality Trends (%) Allowance for Loan Credit Losses 56,063 70,468 81,643 86,670 85,136 1.33 1.45 1.51 1.46 1.37 1.75 2.00 2.10 2.02 ALCL ($) ALCL as a percentage of LHFI (%) ALCL as a percentage of LHFI excl. PPP and mtg. warehouse (%) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 • Provision expense for the 1Q2021 quarter was $1.4 million, a decline of $4.9 million from 4Q2020, and a $17.1 million decline from 1Q2020. The provision decline is due to: ◦ improvement in forecasted economic conditions ◦ credit quality profile in relation to ALCL • ALCL to nonperforming LHFI is 255.22% at 1Q2021, 331.45% at 4Q2020, and 169.72% at 1Q2020. 1.25

 
ORIGIN BANCORP, INC. _______ 13 LHFI: Fixed \ Variable (by Index) at 3/31/2021 • The yield on LHFI increased to 3.99% during 1Q2021 due to the PPP forgiveness process which accelerated fee earnings into interest income. • The cost of interest bearing deposits declined six bps, the cost of total deposits declined four bps and the cost of borrowings declined 61 bps during 1Q2021. • Variable rate LHFI made up 59% of total LHFI incl. PPP loans, with 35% based on 1 month LIBOR. Fixed: 41% 1m LIBOR: 35% Prime: 18% Other indices: 6% YIELDS, COSTS AND LHFI PROFILE Yield on LHFI (%) 4.44 3.25 3.25 3.25 3.25 4.85 4.09 4.02 3.89 4.03 4.22 4.20 4.06 3.99 1.40 0.35 0.16 0.15 0.12 Avg. Prime Rate Yield on LHFI Yield on LHFI excl. PPP Loans Avg. 1M LIBOR 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Cost of Funds (%) 1.28 0.79 0.61 0.37 1.05 0.65 0.42 0.95 0.54 0.42 0.26 Cost of Interest Bearing Deposits Cost of Total Deposits & Borrowings Cost of Total Deposits 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 0.47 0.54 0.43 0.31

 
ORIGIN BANCORP, INC. _______ 14 DOLLARS IN THOUSANDS 42,810 46,290 50,617 51,819 55,239 42,810 43,238 47,187 48,542 49,101 3,052 3,430 3,277 6,138 3.44 3.09 3.18 3.07 3.22 3.15 3.28 3.17 3.15 Net Interest Income excl. PPP ($) PPP Net Interest Income ($) NIM (FTE) (%) NIM (FTE) excl. PPP (%) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 • Net interest income increased $3.4 million in 1Q2021 from 4Q2020, and increased $12.4 million in 1Q2021 from 1Q2020. • Interest income on PPP loans contributed the greatest increase in net interest income with $2.8 million in accelerated fees earned through the forgiveness process. PPP accelerated fees contributed 16 bps to the NIM (FTE) in 1Q2021. • NIM (FTE) increased by 15 bps to 3.22% in 1Q2021 from 4Q2020, driven primarily by PPP fees and deposit cost reductions. • Excluding the impact of PPP loans, NIM (FTE) was 3.15% in 1Q2021, compared to 3.17% at 4Q2020. NET INTEREST INCOME AND NIM TRENDS 55,239 51,819 2,861 793 280 (223) (201) (90) 4Q 20 20 PP P Lo an s IB D ep os its C& I e xc l. P PP Re sid en tia l R E Lo an s LH FS Ot he r 1Q 20 21 $45,000 $50,000 $55,000 3.07 0.16 0.04 0.02 (0.02) (0.05) 4Q 20 20 PP P Lo an s IB D ep os its C& I e xc l. P PP Re sid en tia l R E Lo an s Ot he r 1Q 20 21 3.00 3.20 3.40 3.22 Net Interest Income Changes - 1Q2021 ($) NIM Changes - 1Q2021 (%) INIM

 
ORIGIN BANCORP, INC. _______ 15 12,144 19,076 18,051 15,381 17,131 3,320 2,990 3,268 3,420 3,343 2,769 10,717 9,523 6,594 4,577 3,687 3,109 3,218 2,732 3,771 676 1,527 110 233 348 1,692 733 1,932 2,402 5,092 Service Charges & Fees Mortgage Banking Revenue Insurance Commission & Fee Income Swap Fee Income Other 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 54,954 65,366 68,668 67,200 72,370 42,810 46,290 50,617 51,819 55,239 12,144 19,076 18,051 15,381 17,131 Net Interest Income Noninterest Income 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Noninterest Income ($)Net Interest Income \ Noninterest Income ($) • Noninterest income historically accounts for approximately 20% of total net revenue, but accounted for 24% in 1Q2021 due to gain on sale of securities, limited partnership investment income, and insurance income. • Mortgage banking revenue for the quarter ended 1Q2021 decreased 30.6% from the linked quarter and increased 65.3% from the quarter ended 1Q2020. • Limited partnership investment income was up due to valuation increases as a result of investment performance in two funds. NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS

 
ORIGIN BANCORP, INC. _______ 36,097 38,220 38,734 38,884 39,436 21,988 24,045 22,597 22,475 22,325 4,221 4,267 4,263 4,271 4,339 2,003 2,075 2,065 2,178 2,173 1,441 1,344 1,367 1,472 1,454 1,142 1,509 1,809 1,856 1,705 5,302 4,980 6,633 6,632 7,440 Salaries and Employee Benefits Occupancy and Equipment, net Data Processing Office and Operations Loan Related Expenses Other 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 16 • Operating leverage reflects an overall improving trend in the efficiency ratio, coupled with a decline in the ratio of NIE to average assets primarily as a result of improved mortgage performance in recent quarters. • Existing positive efficiency trends continued. • Other noninterest expense in 1Q2021 included $1.6 million incurred related to the early termination of long-term FHLB advances during the quarter ended March 31, 2021. The Company terminated the advances early due to the relatively high cost of the advances partially funding the payoff with the sale of lower yielding securities during the quarter. • The focus remains on our technology strategy to build efficient scale to support additional organic growth, combined with branch strategy and operational efficiency to support the potential for an ongoing remote working environment. E F F IC E N C Y R A T IO ( % ) 2.69 2.38 2.28 2.16 2.17 65.69 58.47 56.41 57.86 54.49 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 40% 60% 80% 100% 1.5% 2.0% 2.5% 3.0% Operating Leverage NONINTEREST EXPENSE ANALYSIS N IE / AV E R A G E A S S E T S ( % ) DOLLARS IN THOUSANDS Noninterest Expense Composition ($)

 
ORIGIN BANCORP, INC. _______ Tier 1 Capital to Average Assets (Leverage Ratio) (%) 10.4 8.8 8.8 9.0 9.0 10.7 9.1 9.2 8.6 8.7 Bank Level Company Level 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Tier 1 Capital to Risk-Weighted Assets (%) 10.7 10.1 9.6 10.5 10.7 11.0 10.5 10.1 10.1 10.3 Bank Level Company Level 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 17 CAPITAL Bank Level Company Level Sub-debt Impact Total Capital to Risk-Weighted Assets (%) 13.0 12.5 12.0 12.9 13.1 13.4 12.9 12.5 13.8 13.9 Bank Level Company Level 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Total Capital to Risk-Weighted Assets Changes - 1Q2021 (%) 13.79% 0.44 (0.17) (0.06) (0.04) (0.02) (0.02) 4Q 20 20 Ne t I nc om e ex cl. Cr ed it L os s A cc ru als Lo an G ro wt h inc l. M LH FS Ot he r Di vid en ds M or tg ag e Se rv ici ng R igh ts St oc k R ep ur ch as es 1Q 20 21 10.00% 12.50% 15.00% 13.92% ICap

 
ORIGIN BANCORP, INC. _______ Calculation of Tangible Common Equity: 1Q2021 4Q2020 1Q2020 Total common stockholders' equity $ 656,355 $ 647,150 $ 606,631 Less: goodwill and other intangible assets, net 30,246 30,480 31,241 Tangible Common Equity $ 626,109 $ 616,670 $ 575,390 Calculation of Tangible Book Value per Common Share: Divided by common shares outstanding at the end of the period 23,488,884 23,506,312 23,475,948 Tangible Book Value per Common Share $ 26.66 $ 26.23 $ 24.51 Calculation of PTPP Earnings: Net Income $ 25,513 $ 17,552 $ 753 Plus: provision for credit losses 1,412 6,333 18,531 Plus: income tax expense 6,009 4,431 (427) PTPP Earnings $ 32,934 $ 28,316 $ 18,857 Calculation of PTPP ROAA and PTPP ROAE: PTPP Earnings $ 32,934 $ 28,316 $ 18,857 Divided by number of days in the quarter 90 92 91 Multiplied by the number of days in the year 365 366 366 Annualized PTPP Earnings $ 133,566 $ 112,648 $ 75,842 Divided by total average assets $ 7,382,495 $ 7,164,028 $ 5,400,704 PTPP ROAA (annualized) 1.81 % 1.57 % 1.40 % Divided by total average stockholder's equity $ 657,863 $ 639,508 $ 611,162 PTPP ROAE (annualized) 20.30 % 17.61 % 12.41 % 18 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

 
Document


                                                Exhibit 99.3
https://cdn.kscope.io/4ea080e74ef455279b911eb2b9bfae66-obnklogoa531a.jpg
FOR IMMEDIATE RELEASE
April 28, 2021

Origin Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend
RUSTON, LOUISIANA (April 28, 2021) - Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin"), the holding company for Origin Bank, today announced that on April 28, 2021, its board of directors declared a quarterly cash dividend of $0.13 per share of its common stock. The cash dividend will be paid on May 31, 2021, to stockholders of record as of the close of business on May 14, 2021.
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 44 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 "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 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 continuing development and distribution of COVID-19 vaccines, as well as other efforts to contain the virus's transmission, including the effect of these factors and developments 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 and any related future economic stimulus legislation; 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