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obnk-20220126

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)

January 26, 2022

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 January 26, 2022, Origin Bancorp, Inc. (the "Registrant") issued a press release announcing its fourth quarter and 2021 full year results of operations. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.

On Thursday, January 27, 2022, at 8:00 a.m. Central Time, the Registrant will host an investor conference call and webcast to review its fourth quarter and 2021 full year 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 January 26, 2022. 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 8.01			Other Events

On January 26, 2022, 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 February 28, 2022, to stockholders of record as of the close of business on February 14, 2022. The press release is attached hereto 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 January 26, 2022, announcing fourth quarter and 2021 full year earnings
Exhibit 99.2			Presentation materials
Exhibit 99.3			Press release, dated January 26, 2022, 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: January 26, 2022						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/e4e16703e196f1e5308cebb0b074649e-obnklogoa52a.jpg

ORIGIN BANCORP, INC. REPORTS EARNINGS FOR FOURTH QUARTER AND 2021 FULL YEAR

RUSTON, Louisiana (January 26, 2022) - Origin Bancorp, Inc. (Nasdaq: OBNK) (“Origin” or the “Company”), the holding company for Origin Bank (the “Bank”), today announced record net income of $28.3 million, or $1.20 diluted earnings per share for the quarter ended December 31, 2021, compared to net income of $27.0 million, or $1.14 diluted earnings per share for the quarter ended September 30, 2021, and net income of $17.6 million, or $0.75 diluted earnings per share for the quarter ended December 31, 2020. Pre-tax, pre-provision (“PTPP”) earnings for the quarter were $30.5 million, a 4.2% increase from the quarter ended September 30, 2021, and a 7.8% increase from the fourth quarter of 2020. Net income for the year ended December 31, 2021, was at a record high of $108.5 million, reflecting diluted earnings per share for the year ended December 31, 2021, of $4.60, representing an increase of $3.05, or 196.8%, from diluted earnings per share of $1.55 for the year ended December 31, 2020.

“Origin Bancorp delivered another strong quarter and closed out a very dynamic year,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “We remain focused on core, organic growth and our team performed well with 23% annualized growth on loans excluding PPP and mortgage warehouse this quarter. We have been and will continue to be purposeful in our strategy and efforts to provide value to our employees, customers, communities, and shareholders.”

Financial Highlights

•Net income was $28.3 million for the quarter ended December 31, 2021, achieving a historic high compared to $27.0 million for the linked quarter and $17.6 million for the quarter ended December 31, 2020.

•Total loans held for investment (“LHFI”) at December 31, 2021, excluding PPP and mortgage warehouse lines of credit, were $4.50 billion, reflecting a $241.5 million, or 5.7% increase, compared to the linked quarter, and a $404.2 million, or 9.9% increase compared to December 31, 2020.

•Total deposits grew $411.9 million, or 6.7%, to $6.57 billion at December 31, 2021, compared to $6.16 billion at September 30, 2021, and increased $819.4 million, or 14.2%, compared to December 31, 2020. Noninterest-bearing deposits grew $183.4 million, or 9.3%, compared to September 30, 2021, and $555.9 million, or 34.6%, compared to December 31, 2020, and represented 32.9% of total deposits at December 31, 2021.

•Average balances of total securities for the quarter ended December 31, 2021, were $1.50 billion, reflecting a $371.4 million, or 32.8% increase compared to the linked quarter, and a $550.7 million, or 57.7% increase, compared to the quarter ended December 31, 2020. Total securities were $1.53 billion at December 31, 2021, compared to $1.54 billion at September 30, 2021, and increased $480.6 million, or 45.6%, compared to December 31, 2020.

•Provision for credit losses was a net benefit of $2.6 million for the quarter ended December 31, 2021, compared to a net benefit of $3.9 million for the linked quarter and a provision expense of $6.3 million for the quarter ended December 31, 2020.

•Annualized returns on average stockholder’s equity and average assets were 15.70% and 1.49%, respectively, for the quarter ended December 31, 2021, compared to 15.21% and 1.43%, respectively for the linked quarter, and 10.92% and 0.97%, respectively, for the quarter ended December 31, 2020.

•On December 31, 2021, the Company acquired the remaining 62% equity interest in The Lincoln Agency bringing the Company’s total ownership to 100%. Additionally, the Company acquired substantially all assets of the Pulley-White Insurance Agency, Inc. on December 31, 2021, for $2.2 million in cash and $2.2 million in Company common stock.

Results of Operations for the Three Months Ended December 31, 2021

Net Interest Income and Net Interest Margin

Net interest income for the quarter ended December 31, 2021, was $54.2 million, an increase of $1.6 million, or 3.1%, compared to the linked quarter. The increase was primarily due to a $1.2 million increase in interest income earned on total investment securities and a $1.2 million increase in interest income earned on commercial real estate loans, offset by decreases of $873,000 and $577,000 in interest earned on residential real estate loans and mortgage warehouse lines of credit, respectively. The increase in interest income earned on total securities was primarily due to a $371.4 million increase in the average balance of total securities caused by a shift in balance sheet composition. The increase in interest income earned on commercial real estate loans was primarily driven by a $106.3 million increase in the average balance of total commercial real estate loans. The decrease in interest earned on residential real estate loans was primarily due to a decline in interest rates, which contributed $595,000 to the $873,000 decline in interest income on residential real estate loans. The decrease in interest earned on mortgage warehouse lines of credit was caused primarily by a decrease of $82.9 million in average mortgage warehouse lines of credit loan balances, as the outstanding balances of mortgage warehouse lines of credit continued to normalize.

The yield earned on interest-earning assets for the quarter ended December 31, 2021, was 3.35%, an increase of two basis points compared to the linked quarter and a decrease of 12 basis points compared to the quarter ended December 31, 2020. Excluding PPP loans, the yield earned on interest-earning assets was 3.21%, a four basis point decrease compared to the linked quarter. The rate paid on total interest-bearing liabilities for the quarter ended December 31, 2021, was 0.51%, representing a two basis point decrease from the linked quarter, and a 13 basis point decrease compared to the quarter ended December 31, 2020.

The fully tax-equivalent net interest margin (“NIM”) was 3.06% for the quarter ended December 31, 2021, a four basis point increase and a one basis point decrease from the linked quarter and the quarter ended December 31, 2020, respectively. Excluding PPP loans, the fully tax-equivalent NIM was 2.92%, a two basis point decrease and a 25 basis point decrease from the linked quarter and the quarter ended December 31, 2020, respectively. The decrease in fully tax-equivalent NIM, excluding PPP loans, was primarily due to a shift in balance sheet composition as PPP loan balances continued to be forgiven by the Small Business Administration (“SBA”) and mortgage warehouse loan volume continued to normalize, along with the increase in deposits, causing a surge in liquidity which was primarily invested in comparatively lower-yielding securities.

Credit Quality

The table below includes key credit quality information:


	At and for the three months ended									$ Change		% Change
(Dollars in thousands)	December 31, 2021			September 30, 2021			December 31, 2020			Linked Quarter		Linked Quarter
Allowance for loan credit losses	$	64,586		$	69,947		$	86,670		$	(5,361)	(7.7)	%

Classified loans	69,372			75,591			107,781			(6,219)		(8.2)
Total nonperforming LHFI	24,903			24,555			26,149			348		1.4
Provision for credit losses	(2,647)			(3,921)			6,333			1,274		(32.5)
Net charge-offs	2,693			2,891			1,757			(198)		(6.8)
Credit quality ratios:

Allowance for loan credit losses to nonperforming LHFI	259.35		%	284.86		%	331.45		%	N/A		-2551 bp
Allowance for loan credit losses to total LHFI	1.23			1.35			1.51			N/A		-12 bp
Allowance for loan credit losses to total LHFI excluding PPP and warehouse loans (1)	1.43			1.63			2.10			N/A		-20 bp

Nonperforming LHFI to LHFI	0.48			0.47			0.46			N/A		1 bp
Net charge-offs to total average LHFI (annualized)	0.21			0.22			0.13			N/A		-1 bp

___________________________

(1)Please see the Loan Data schedule at the back of this document for additional information.

The Company recorded a credit loss provision net benefit of $2.6 million during the quarter ended December 31, 2021, compared to a credit loss provision net benefit of $3.9 million recorded during the linked quarter. The release of credit loss provision reflects the continued improvement in forecasted economic conditions at December 31, 2021, and stable credit loss metrics. While economic forecasts have improved, uncertainty remains due to risks related to the resurgence or lingering effects of COVID-19, rising inflation and labor pressures, as well as continued global supply-chain disruptions.

Credit metrics remained stable for the quarter ended December 31, 2021, compared to the linked quarter. The allowance for loan credit losses to nonperforming LHFI decreased to 259.35% at December 31, 2021, compared to 284.86% at September 30, 2021. The Company’s nonperforming LHFI and quarterly net charge-offs were stable, compared to the linked quarter. Classified loans declined $6.2 million at December 31, 2021, compared to September 30, 2021, and represented 1.35% of LHFI, excluding PPP loans, at December 31, 2021, compared to 1.52% at September 30, 2021.

Noninterest Income

Noninterest income for the quarter ended December 31, 2021, was $16.7 million, an increase of $778,000, or 4.9%, from the linked quarter. The increase from the linked quarter was primarily driven by an increase of $5.4 million in other noninterest income, offset by decreases of $3.0 million, $1.0 million, and $625,000 in limited partnership investment income, swap fee income, and insurance commission and fee income, respectively.

The $5.4 million increase in other noninterest income was primarily due to the Company’s acquisition of the remaining 62% equity interest in The Lincoln Agency. The Company remeasured the previously held equity method investment to its fair value, resulting in recognition of a gain of $5.2 million in other noninterest income. The $3.0 million decrease in limited partnership investment income was primarily due to a $3.1 million valuation increase of the investments in two of the limited partnership funds during the quarter ended September 30, 2021, with no such increase during the current quarter. The $1.0 million decrease in swap fee income was primarily driven by $727,000 in swap commission fees earned on one new swap contract executed during the quarter ended September 30, 2021, combined with an early termination fee incurred during the quarter ended December 31, 2021. To benefit future income, the Company elected to unwind a one-way swap during the quarter ended December 31, 2021, and paid an early termination fee of $296,000. The decrease in insurance commission and fee income was caused by the seasonality of policy renewals.

Noninterest Expense

Noninterest expense for the quarter ended December 31, 2021, was $40.3 million, an increase of $1.2 million, compared to the linked quarter. This increase was primarily driven by an increase of $1.1 million in salaries and employee

benefit expenses, primarily due to a $893,000 increase in our incentive compensation bonus during the quarter ended December 31, 2021, primarily due to the growth in loan production.

Income Taxes

The effective tax rate was 14.6% during the quarter ended December 31, 2021, compared to 18.8% during the linked quarter and 20.2% during the quarter ended December 31, 2020. The decline was primarily due the tax impact of the exercise of stock options and vesting of stock awards during the period.

Financial Condition

Loans

•Total LHFI increased $44.0 million compared to the linked quarter and decreased $493.4 million compared to December 31, 2020.

•Total LHFI at December 31, 2021, were $4.50 billion, excluding PPP and mortgage warehouse lines of credit, reflecting a $241.5 million, or 5.7% increase, compared to the linked quarter and a $404.2 million, or 9.9% increase, compared to December 31, 2020.

•PPP loans, net of deferred fees and costs, totaled $105.8 million at December 31, 2021, a decrease of $111.2 million compared to the linked quarter and a decrease of $440.8 million compared to December 31, 2020. Net deferred loan fees and costs on PPP loans were $3.0 million, $6.3 million, and $9.6 million, at December 31, 2021, September 30, 2021, and December 31, 2020, respectively.

•Mortgage warehouse lines of credit totaled $627.1 million at December 31, 2021, a decrease of $86.3 million compared to the linked quarter and a decrease of $456.9 million compared to December 31, 2020, falling within the expected range of 10% to 12% of total LHFI by year-end 2021.

•Average LHFI decreased $56.1 million, compared to the linked quarter, and decreased $375.6 million compared to the quarter ended December 31, 2020.

•Average LHFI, excluding PPP and mortgage warehouse lines of credit, increased $144.0 million, compared to the linked quarter, and increased $333.3 million compared to the quarter ended December 31, 2020.

Total LHFI at December 31, 2021, were $5.23 billion, reflecting an increase of 0.8%, compared to the linked quarter and a decrease of 8.6%, compared to December 31, 2020. The increase in LHFI compared to the linked quarter, was primarily driven by increases in commercial and industrial loans excluding PPP and commercial real estate loans, offset by decreases in PPP loans and mortgage warehouse lines of credit, respectively. PPP outstanding loan balances continued to decline primarily through the SBA’s forgiveness process and outstanding balances of mortgage warehouse lines of credit continued to normalize during the current period.

Securities

•Total securities remained relatively unchanged compared to the linked quarter and increased $480.6 million, compared to December 31, 2020.

•Average securities increased $371.4 million, compared to the linked quarter, and increased $550.7 million compared to the quarter ended December 31, 2020.

Total securities at December 31, 2021, were $1.53 billion, decreasing slightly from the linked quarter, and increasing 45.6%, compared to December 31, 2020. The increase in securities during 2021 reflects a shift in balance sheet composition as liquidity surged due to declines in PPP and mortgage warehouse lines of credit loan balances, as a result of the SBA’s forgiveness process and the normalization of mortgage warehouse lines of credit balances, along with the increase in deposits.

Goodwill & Intangibles

On December 31, 2021, the Company acquired the remaining 62% equity interest in The Lincoln Agency for $5.3 million in cash and $5.3 million in Company common stock, bringing the Company’s total ownership to 100%. Additionally, the Company acquired substantially all assets of the Pulley-White Insurance Agency, Inc. on December 31, 2021, for $2.2 million in cash and $2.2 million in Company common stock.

•The Company recognized a $14.1 million and $7.6 million increase, respectively, in intangible assets and goodwill in conjunction with the acquisitions.

Deposits

•Total deposits increased $411.9 million and $819.4 million compared to the linked quarter and December 31, 2020, respectively.

•Interest-bearing deposits grew $263.4 million, or 7.3%, compared to September 30, 2021, and $385.1 million, or 11.1%, compared to December 31, 2020.

•Noninterest-bearing deposits grew $183.4 million, or 9.3%, compared to September 30, 2021, and $555.9 million, or 34.6%, compared to December 31, 2020.

Business depositors drove increases of $168.1 million and $142.2 million in noninterest-bearing demand and money market deposits compared to the linked quarter. Consumer depositors drove an additional increase of $104.6 million in total deposits compared to the linked quarter. Business depositors drove an increase of $890.8 million in total deposits compared to December 31, 2020.

For the quarter ended December 31, 2021, average noninterest-bearing deposits as a percentage of total average deposits were 33.6%, compared to 31.7% for the linked quarter, and 28.7% for the quarter ended December 31, 2020.

Borrowings

•Average Federal Home Loan Bank (“FHLB”) advances and other borrowings for the quarter ended December 31, 2021, increased by $3.8 million or 1.4%, compared to the linked quarter, and decreased by $79.8 million or 23.0%, compared to the quarter ended December 31, 2020.

The changes in average FHLB advances and other borrowings from both the linked quarter and from the quarter ended December 31, 2020, were driven by short-term borrowing variations during the respective periods as a result of liquidity management.

Stockholder’s Equity

Stockholders’ equity was $730.2 million at December 31, 2021, an increase of $24.5 million compared to $705.7 million at September 30, 2021, and an increase of $83.1 million compared to $647.2 million at December 31, 2020. The increase from the linked quarter was primarily due to net income for the quarter of $28.3 million, combined with a $7.5 million stock issuance for the insurance agency acquisitions, discussed earlier. These increases were partially offset by other comprehensive loss, net of tax and the quarterly dividend declared during the quarter ended December 31, 2021. The increase from December 31, 2020, was primarily driven by net income retained during the intervening period, and partially offset by the other comprehensive loss, net of tax.

Conference Call

Origin will hold a conference call to discuss its fourth quarter and 2021 full year results on Thursday, January 27, 2022, 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/mediaframe/webcast.html?webcastid=yG9FTkGk.

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.

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 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 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 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 transition away from the London Interbank Offered Rate (“LIBOR”) and the impact of any replacement alternatives such as the Secured Overnight Financing Rate (“SOFR”) 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 (“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. Furthermore, many of these risks and uncertainties are currently amplified by, 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 purposes 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
	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020

Income statement and share amounts	(Dollars in thousands, except per share amounts, unaudited)
Net interest income	$	54,180		$	52,541		$	54,292		$	55,239		$	51,819
Provision for credit losses	(2,647)			(3,921)			(5,609)			1,412			6,333
Noninterest income	16,701			15,923			12,438			17,131			15,381
Noninterest expense	40,346			39,165			37,832			39,436			38,884
Income before income tax expense	33,182			33,220			34,507			31,522			21,983
Income tax expense	4,860			6,242			6,774			6,009			4,431
Net income	$	28,322		$	26,978		$	27,733		$	25,513		$	17,552
PTPP earnings (1)	$	30,535		$	29,299		$	28,898		$	32,934		$	28,316
Basic earnings per common share	1.21			1.15			1.18			1.09			0.75
Diluted earnings per common share	1.20			1.14			1.17			1.08			0.75
Dividends declared per common share	0.13			0.13			0.13			0.10			0.10
Weighted average common shares outstanding - basic	23,484,056			23,429,705			23,410,693			23,393,356			23,392,684
Weighted average common shares outstanding - diluted	23,609,874			23,613,010			23,604,566			23,590,430			23,543,917

Balance sheet data
Total LHFI	$	5,231,331		$	5,187,288		$	5,396,306		$	5,849,760		$	5,724,773
Total assets	7,861,285			7,470,478			7,268,068			7,563,175			7,628,268
Total deposits	6,570,693			6,158,768			6,028,352			6,346,194			5,751,315

Total stockholders’ equity	730,211			705,667			688,235			656,355			647,150






Performance metrics and capital ratios
Yield on LHFI	4.11		%	4.05		%	4.00		%	4.03		%	3.89		%
Yield on interest-earnings assets	3.35			3.33			3.44			3.58			3.47
Cost of interest-bearing deposits	0.28			0.30			0.31			0.37			0.43
Cost of total deposits	0.19			0.21			0.22			0.26			0.31
Net interest margin, fully tax equivalent	3.06			3.02			3.12			3.22			3.07
Net interest margin, excluding PPP loans, fully tax equivalent (2)	2.92			2.94			3.06			3.15			3.17
Return on average stockholders’ equity (annualized)	15.70			15.21			16.54			15.73			10.92
Return on average assets (annualized)	1.49			1.43			1.49			1.40			0.97
PTPP return on average stockholders’ equity (annualized) (1)	16.93			16.52			17.23			20.30			17.61
PTPP return on average assets (annualized) (1)	1.60			1.56			1.55			1.81			1.57
Efficiency ratio (3)	56.92			57.21			56.69			54.49			57.86
Book value per common share	$	30.75		$	30.03		$	29.28		$	27.94		$	27.53
Tangible book value per common share (1)	28.59			28.76			28.01			26.66			26.23
Common equity tier 1 to risk-weighted assets (4)	11.20		%	11.27		%	11.03		%	10.16		%	9.95		%
Tier 1 capital to risk-weighted assets (4)	11.36			11.42			11.19			10.32			10.11
Total capital to risk-weighted assets (4)	14.76			14.95			14.85			13.92			13.79
Tier 1 leverage ratio (4)	9.20			9.20			8.87			8.67			8.62

____________________________

(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 the last two pages.

(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)December 31, 2021, 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
	December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021		December 31, 2020

Interest and dividend income	(Dollars in thousands, except per share amounts, unaudited)
Interest and fees on loans	$	53,260	$	53,182	$	55,529	$	56,810	$	54,193
Investment securities-taxable	4,691		3,449		3,115		3,300		3,154
Investment securities-nontaxable	1,493		1,582		1,590		1,672		1,708
Interest and dividend income on assets held in other financial institutions	686		538		414		345		367
Total interest and dividend income	60,130		58,751		60,648		62,127		59,422
Interest expense
Interest-bearing deposits	2,957		3,255		3,417		3,789		4,582
FHLB advances and other borrowings	1,161		1,118		1,106		1,269		1,339
Subordinated debentures	1,832		1,837		1,833		1,830		1,682
Total interest expense	5,950		6,210		6,356		6,888		7,603
Net interest income	54,180		52,541		54,292		55,239		51,819
Provision for credit losses	(2,647)		(3,921)		(5,609)		1,412		6,333
Net interest income after provision for credit losses	56,827		56,462		59,901		53,827		45,486
Noninterest income
Service charges and fees	3,994		3,973		3,739		3,343		3,420
Mortgage banking revenue	2,857		2,728		2,765		4,577		6,594
Insurance commission and fee income	2,826		3,451		3,050		3,771		2,732
Gain on sales of securities, net	75		—		5		1,668		225

Loss on sales and disposals of other assets, net	(97)		(8)		(42)		(38)		(33)
Limited partnership investment income	50		3,078		801		1,772		368
Swap fee (loss) income	(285)		727		24		348		233
Change in fair value of equity investments	—		19		—		—		—
Other fee income	702		783		623		771		604
Other income	6,579		1,172		1,473		919		1,238
Total noninterest income	16,701		15,923		12,438		17,131		15,381
Noninterest expense
Salaries and employee benefits	24,718		23,629		22,354		22,325		22,475
Occupancy and equipment, net	4,306		4,353		4,349		4,339		4,271
Data processing	2,302		2,329		2,313		2,173		2,178
Electronic banking	616		997		989		961		942
Communications	286		359		514		415		449
Advertising and marketing	1,147		863		748		680		1,108
Professional services	923		912		836		973		1,176
Regulatory assessments	526		664		544		1,170		1,135
Loan-related expenses	1,880		1,949		2,154		1,705		1,856
Office and operations	1,849		1,598		1,498		1,454		1,472
Intangible asset amortization	194		194		222		234		237
Franchise tax expense	692		598		629		619		665
Other expenses	907		720		682		2,388		920
Total noninterest expense	40,346		39,165		37,832		39,436		38,884
Income before income tax expense	33,182		33,220		34,507		31,522		21,983
Income tax expense	4,860		6,242		6,774		6,009		4,431
Net income	$	28,322	$	26,978	$	27,733	$	25,513	$	17,552
Basic earnings per common share	$	1.21	$	1.15	$	1.18	$	1.09	$	0.75
Diluted earnings per common share	1.20		1.14		1.17		1.08		0.75

Origin Bancorp, Inc.

Selected Year-to-Date Financial Data


	Year Ended December 31,
(Dollars in thousands, except per share amounts)	2021			2020
Income statement and share amounts	(Unaudited)
Net interest income	$	216,252		$	191,536
Provision for credit losses	(10,765)			59,900
Noninterest income	62,193			64,652
Noninterest expense	156,779			151,935
Income before income tax expense	132,431			44,353
Income tax expense	23,885			7,996
Net income	$	108,546		$	36,357
PTPP earnings (1)	$	121,666		$	104,253
Basic earnings per common share (2)	4.63			1.56
Diluted earnings per common share(2)	4.60			1.55
Dividends declared per common share	0.49			0.3775
Weighted average common shares outstanding - basic	23,431,504			23,367,221
Weighted average common shares outstanding - diluted	23,608,586			23,511,952




Performance metrics
Yield on LHFI	4.05		%	4.17		%
Yield on interest-earning assets	3.42			3.75
Cost of interest-bearing deposits	0.32			0.75
Cost of total deposits	0.22			0.53
Net interest margin, fully tax equivalent	3.10			3.18
Net interest margin, excluding PPP loans, fully tax equivalent (3)	3.01			3.25
Return on average stockholders’ equity	15.79			5.82
Return on average assets	1.45			0.56
PTPP return on average stockholders’ equity (1)	17.69			16.69
PTPP return on average assets (1)	1.63			1.62


Efficiency ratio (4)	56.31			59.31

____________________________

(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 the last two pages.

(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 quarterly earnings per common share may not equal the 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)	December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021		December 31, 2020
Assets	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Cash and due from banks	$	133,334	$	124,515	$	155,311	$	64,330	$	60,544
Interest-bearing deposits in banks	572,284		227,450		289,421		200,571		316,670
Total cash and cash equivalents	705,618		351,965		444,732		264,901		377,214
Securities:
Available for sale	1,504,728		1,486,543		973,948		980,132		1,004,674
Held to maturity, net of allowance for credit losses	22,767		37,702		37,835		37,983		38,128
Securities carried at fair value through income	7,497		10,876		10,973		11,077		11,554
Total securities	1,534,992		1,535,121		1,022,756		1,029,192		1,054,356
Non-marketable equity securities held in other financial institutions	45,192		45,144		41,468		47,274		62,586
Loans held for sale	80,387		109,956		124,710		144,950		191,512
Loans	5,231,331		5,187,288		5,396,306		5,849,760		5,724,773
Less: allowance for loan credit losses	64,586		69,947		77,104		85,136		86,670
Loans, net of allowance for loan credit losses	5,166,745		5,117,341		5,319,202		5,764,624		5,638,103
Premises and equipment, net	80,691		80,740		80,133		81,064		81,763
Mortgage servicing rights	16,220		16,000		16,081		17,552		13,660
Cash surrender value of bank-owned life insurance	38,352		38,162		37,959		37,757		37,553
Goodwill and other intangible assets, net	51,330		29,830		30,024		30,246		30,480
Accrued interest receivable and other assets	141,758		146,219		151,003		145,615		141,041
Total assets	$	7,861,285	$	7,470,478	$	7,268,068	$	7,563,175	$	7,628,268
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	2,163,507	$	1,980,107	$	1,861,016	$	1,736,534	$	1,607,564
Interest-bearing deposits	3,864,058		3,600,654		3,554,427		3,962,082		3,478,985
Time deposits	543,128		578,007		612,909		647,578		664,766
Total deposits	6,570,693		6,158,768		6,028,352		6,346,194		5,751,315
FHLB advances and other borrowings	309,801		309,152		314,123		325,751		984,608
Subordinated debentures	157,417		157,357		157,298		157,239		157,181
Accrued expenses and other liabilities	93,163		139,534		80,060		77,636		88,014
Total liabilities	7,131,074		6,764,811		6,579,833		6,906,820		6,981,118

Stockholders’ equity
Common stock	118,733		117,480		117,511		117,444		117,532
Additional paid-in capital	242,114		237,928		237,338		236,934		237,341
Retained earnings	363,635		338,387		314,472		289,792		266,628

Accumulated other comprehensive income	5,729		11,872		18,914		12,185		25,649
Total stockholders’ equity	730,211		705,667		688,235		656,355		647,150
Total liabilities and stockholders’ equity	$	7,861,285	$	7,470,478	$	7,268,068	$	7,563,175	$	7,628,268

Origin Bancorp, Inc.

Loan Data


	At and for the three months ended
(Dollars in thousands, unaudited)	December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021		December 31, 2020
LHFI
Commercial real estate	$	1,693,512	$	1,590,519	$	1,480,536	$	1,454,649	$	1,387,939
Construction/land/land development	530,083		518,920		497,170		548,236		531,860
Residential real estate	909,739		913,411		966,301		904,753		885,120
Total real estate loans	3,133,334		3,022,850		2,944,007		2,907,638		2,804,919
PPP	105,761		216,957		369,910		584,148		546,519
Commercial and industrial	1,348,474		1,218,246		1,200,881		1,250,350		1,271,343

Mortgage warehouse lines of credit	627,078		713,339		865,255		1,090,347		1,084,001
Consumer	16,684		15,896		16,253		17,277		17,991
Total LHFI	5,231,331		5,187,288		5,396,306		5,849,760		5,724,773
Less: allowance for loan credit losses	64,586		69,947		77,104		85,136		86,670
LHFI, net	$	5,166,745	$	5,117,341	$	5,319,202	$	5,764,624	$	5,638,103

Nonperforming assets
Nonperforming LHFI
Commercial real estate	$	512	$	672	$	1,544	$	1,085	$	3,704
Construction/land/land development	338		592		621		2,431		2,962
Residential real estate	11,647		9,377		10,571		10,692		6,530
Commercial and industrial	12,306		13,873		17,723		19,094		12,897
Consumer	100		41		43		56		56
Total nonperforming LHFI	24,903		24,555		30,502		33,358		26,149
Nonperforming loans held for sale	1,754		2,074		1,606		963		681
Total nonperforming loans	26,657		26,629		32,108		34,321		26,830
Repossessed assets	1,860		4,574		4,723		3,893		1,927
Total nonperforming assets	$	28,517	$	31,203	$	36,831	$	38,214	$	28,757







Classified assets	$	71,232	$	80,165	$	88,150	$	99,214	$	109,708
Past due LHFI (1)	25,615		25,954		30,446		26,574		25,763

Allowance for loan credit losses
Balance at beginning of period	$	69,947	$	77,104	$	85,136	$	86,670	$	81,643
Provision for loan credit losses	(2,668)		(4,266)		(5,224)		1,360		6,784
Loans charged off	3,162		3,035		3,010		3,027		2,089
Loan recoveries	469		144		202		133		332
Net charge-offs	2,693		2,891		2,808		2,894		1,757
Balance at end of period	$	64,586	$	69,947	$	77,104	$	85,136	$	86,670

Origin Bancorp, Inc.

Loan Data - Continued


	At and for the three months ended
(Dollars in thousands, unaudited)	December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021		December 31, 2020

Credit quality ratios
Total nonperforming assets to total assets	0.36	%	0.42	%	0.51	%	0.51	%	0.38	%
Total nonperforming loans to total loans	0.50		0.50		0.58		0.57		0.45
Nonperforming LHFI to LHFI	0.48		0.47		0.57		0.57		0.46

Past due LHFI to LHFI	0.49		0.50		0.56		0.45		0.45

Allowance for loan credit losses to nonperforming LHFI	259.35		284.86		252.78		255.22		331.45
Allowance for loan credit losses to total LHFI	1.23		1.35		1.43		1.46		1.51
Allowance for loan credit losses to total LHFI excluding PPP and warehouse loans (2)	1.43		1.63		1.84		2.02		2.10
Net charge-offs to total average LHFI (annualized)	0.21		0.22		0.20		0.21		0.13
Net charge-offs to total average LHFI (annualized), excluding PPP loans	0.22		0.24		0.23		0.23		0.14

____________________________

(1)Past due LHFI are defined as loans 30 days or more past due. There were $266,000 of past due PPP loans at September 30, 2021, that are fully guaranteed by the SBA. There were no past due PPP loans for the other disclosed quarterly period end dates included in this release.

(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. Due to their low-risk profile, mortgage warehouse loans require a disproportionately low allocation of the allowance for loan credit losses.

Origin Bancorp, Inc.

Average Balances and Yields/Rates


	Three months ended
	December 31, 2021		September 30, 2021				December 31, 2020
	Average Balance		Yield/Rate		Average Balance			Yield/Rate		Average Balance		Yield/Rate

Assets	(Dollars in thousands, unaudited)
Commercial real estate	$	1,612,078	4.10	%	$	1,505,731		4.08	%	$	1,362,025	4.27	%
Construction/land/land development	528,172		4.21		527,881			4.10		533,756		4.21
Residential real estate	909,778		3.88		936,375			4.14		853,299		4.23
PPP	162,340		9.19		279,578			5.24		551,325		2.36
Commercial and industrial	1,276,386		3.76		1,212,797			3.88		1,242,018		3.83

Mortgage warehouse lines of credit	577,835		3.70		660,715			3.58		897,716		3.81
Consumer	16,572		5.74		16,222			5.81		18,575		6.03
LHFI	5,083,161		4.11		5,139,299			4.05		5,458,714		3.89
Loans held for sale	47,352		5.20		72,739			3.85		114,196		2.73
Loans receivable	5,130,513		4.12		5,212,038			4.05		5,572,910		3.87
Investment securities-taxable	1,239,648		1.50		853,277			1.60		662,527		1.89
Investment securities-nontaxable	265,261		2.23		280,189			2.24		291,702		2.33
Non-marketable equity securities held in other financial institutions	45,153		4.16		43,725			2.22		39,763		1.99
Interest-bearing balances due from banks	442,060		0.19		610,863			0.19		236,772		0.28

Total interest-earning assets	7,122,635		3.35		7,000,092			3.33		6,803,674		3.47
Noninterest-earning assets(1)	436,935				464,721					360,354
Total assets	$	7,559,570			$	7,464,813				$	7,164,028

Liabilities and Stockholders’ Equity
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts	$	3,616,101	0.23	%	$	3,657,625		0.25	%	$	3,520,543	0.29	%
Time deposits	561,990		0.59		582,384			0.67		677,651		1.20
Total interest-bearing deposits	4,178,091		0.28		4,240,009			0.30		4,198,194		0.43

FHLB advances and other borrowings	267,737		1.72		263,956			1.68		347,494		1.53

Subordinated debentures	157,395		4.62		157,321			4.63		144,475		4.63
Total interest-bearing liabilities	4,603,223		0.51		4,661,286			0.53		4,690,163		0.64
Noninterest-bearing liabilities
Noninterest-bearing deposits	2,110,816				1,965,843					1,686,088
Other liabilities(1)	129,917				134,079					148,269
Total liabilities	6,843,956				6,761,208					6,524,520
Stockholders’ Equity	715,614				703,605					639,508
Total liabilities and stockholders’ equity	$	7,559,570			$	7,464,813				$	7,164,028
Net interest spread			2.84	%				2.80	%			2.83	%
Net interest margin			3.02					2.98				3.03
Net interest margin - (tax-equivalent)(2)			3.06					3.02				3.07
Net interest margin excluding PPP loans - (tax-equivalent)(3)			2.92	%				2.94	%			3.17	%

____________________________

(1)Includes Government National Mortgage Association (“GNMA”) repurchase average balances of $45.2 million, $51.3 million, and $61.9 million for the three months ended December 31, 2021, September 30, 2021, and December 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.

Origin Bancorp, Inc.

Non-GAAP Financial Measures


	At and for the three months ended
	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020

Calculation of Tangible Common Equity:	(Dollars in thousands, except per share amounts, unaudited)
Total common stockholders’ equity	$	730,211		$	705,667		$	688,235		$	656,355		$	647,150
Less: goodwill and other intangible assets, net	51,330			29,830			30,024			30,246			30,480
Tangible Common Equity	$	678,881		$	675,837		$	658,211		$	626,109		$	616,670

Calculation of Tangible Book Value per Common Share:
Divided by common shares outstanding at the end of the period	23,746,502			23,496,058			23,502,215			23,488,884			23,506,312
Tangible Book Value per Common Share	$	28.59		$	28.76		$	28.01		$	26.66		$	26.23

Calculation of PTPP Earnings:
Net Income	$	28,322		$	26,978		$	27,733		$	25,513		$	17,552
Plus: provision for credit losses	(2,647)			(3,921)			(5,609)			1,412			6,333
Plus: income tax expense	4,860			6,242			6,774			6,009			4,431
PTPP Earnings	$	30,535		$	29,299		$	28,898		$	32,934		$	28,316

Calculation of PTPP ROAA and PTPP ROAE:
PTPP Earnings	$	30,535		$	29,299		$	28,898		$	32,934		$	28,316
Divided by number of days in the quarter	92			92			91			90			92
Multiplied by the number of days in the year	365			365			365			365			366
Annualized PTPP Earnings	$	121,144		$	116,241		$	115,910		$	133,566		$	112,648

Divided by total average assets	$	7,559,570		$	7,464,813		$	7,474,951		$	7,382,495		$	7,164,028
PTPP ROAA (annualized)	1.60		%	1.56		%	1.55		%	1.81		%	1.57		%

Divided by total average stockholder’s equity	$	715,614		$	703,605		$	672,698		$	657,863		$	639,508
PTPP ROAE (annualized)	16.93		%	16.52		%	17.23		%	20.30		%	17.61		%

Origin Bancorp, Inc.

Non-GAAP Financial Measures


	Year Ended December 31,
(Dollars in thousands, except per share amounts, unaudited)	2021			2020
Calculation of PTPP Earnings:
Net Income	$	108,546		$	36,357
Plus: provision for credit losses	(10,765)			59,900
Plus: income tax expense	23,885			7,996
PTPP Earnings	$	121,666		$	104,253

Calculation of PTPP ROAA and PTPP ROAE:





Divided by total average assets	$	7,470,927		$	6,442,528
PTPP ROAA	1.63		%	1.62		%

Divided by total average stockholder’s equity	$	687,648		$	624,580
PTPP ROAE	17.69		%	16.69		%

a4q21ip992-01262022

ORIGIN BANCORP, INC. _______ 4Q AND FULL YEAR 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 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 transition away from the London Interbank Offered Rate ("LIBOR") and the impact of any replacement alternatives such as the Secured Overnight Financing Rate ("SOFR") 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. Furthermore, many of these risks and uncertainties are currently amplified by, 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 purposes only, are not forecasts, and may not reflect actual results. 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 • Total core deposits is calculated by subtracting brokered deposits and time deposits greater that $250,000 from total deposits. See the last few slides 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: $2,695 Deposits: $3,132 LOUISIANA Entry: 1912 Loans: $1,341 Deposits: $2,850 DOLLARS IN MILLIONS, UNAUDITED (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 12/31/21. (1) Non-market based deposits are not included in state deposits. (2) Excludes mortgage warehouse loans. MISSISSIPPI Entry: 2010 Loans: $568 Deposits: $588 9% 12% 43% 29% 48% 59% Loans (2)Deposits (1) ICS ICS

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

ORIGIN BANCORP, INC. _______ Balance Sheet 4Q21 3Q21 4Q20 Linked Qtr $ Δ Linked Qtr % Δ YoY $ Δ YoY % Δ Total Loans Held for Investment ("LHFI") $ 5,231,331 $ 5,187,288 $ 5,724,773 $ 44,043 0.8 % $ (493,442) (8.6) % Total Assets 7,861,285 7,470,478 7,628,268 390,807 5.2 233,017 3.1 Total Deposits 6,570,693 6,158,768 5,751,315 411,925 6.7 819,378 14.2 Total Stockholders' Equity 730,211 705,667 647,150 24,544 3.5 83,061 12.8 Tangible Common Equity(1) 678,881 675,837 616,670 3,044 0.5 62,211 10.1 Book Value per Common Share 30.75 30.03 27.53 0.72 2.4 3.22 11.7 Tangible Book Value per Common Share(1) 28.59 28.76 26.23 -0.17 (0.6) 2.36 9.0 Income Statement Net Interest Income 54,180 52,541 51,819 1,639 3.1 2,361 4.6 Provision for Credit Losses (2,647) (3,921) 6,333 1,274 32.5 (8,980) (141.8) Noninterest Income 16,701 15,923 15,381 778 4.9 1,320 8.6 Noninterest Expense 40,346 39,165 38,884 1,181 3.0 1,462 3.8 Net Income 28,322 26,978 17,552 1,344 5.0 10,770 61.4 Pre-Tax, Pre-Provision Earnings ("PTPP")(1) 30,535 29,299 28,316 1,236 4.2 2,219 7.8 Diluted EPS 1.20 1.14 0.75 0.06 5.3 0.45 60.0 Dividends Declared per Common Share 0.13 0.13 0.10 — — 0.03 30.0 Selected Ratios NIM - FTE 3.06 % 3.02 % 3.07 % 4 bp 1.3 -1 bp (0.3) Efficiency Ratio 56.92 57.21 57.86 -29 bp (0.5) -94 bp (1.6) ROAA (annualized) 1.49 1.43 0.97 6 bp 4.2 52 bp 53.6 ROAE (annualized) 15.70 15.21 10.92 49 bp 3.2 478 bp 43.8 PTPP ROAA (annualized)(1) 1.60 1.56 1.57 4 bp 2.6 3 bp 1.9 PTPP ROAE (annualized)(1) 16.93 16.52 17.61 41 bp 2.5 -68 bp (3.9) DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED 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 the last few slides of this presentation. FINANCIAL RESULTS - FOURTH QUARTER 2021

ORIGIN BANCORP, INC. _______ Income Statement Year Ended YoY $ Δ YoY % ΔDecember 31, 2021 December 31, 2020 (UNAUDITED) Net Interest Income $ 216,252 $ 191,536 $ 24,716 12.9 % Provision for Credit Losses (10,765) 59,900 (70,665) (118.0) Noninterest Income 62,193 64,652 (2,459) (3.8) Noninterest Expense 156,779 151,935 4,844 3.2 Net Income 108,546 36,357 72,189 198.6 PTPP(1) 121,666 104,253 17,413 16.7 Diluted EPS 4.60 1.55 3.05 196.8 Dividends Declared per Common Share 0.49 0.3775 0.1125 29.8 Selected Ratios NIM - FTE 3.10 % 3.18 % -8 bp (2.5) % Efficiency Ratio 56.31 59.31 -300 bp (5.1) ROAA 1.45 0.56 89 bp 158.9 ROAE 15.79 5.82 997 bp 171.3 PTPP ROAA(1) 1.63 1.62 1 bp 0.6 PTPP ROAE(1) 17.69 16.69 100 bp 6.0 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS 6 (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 the last few slides of this presentation. FINANCIAL RESULTS - FULL YEAR 2021

ORIGIN BANCORP, INC. _______ TRENDING KEY MEASURES 47,785 70,881 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 Total Revenues ($) UNAUDITED Diluted EPS ($)Net Income ($) Total LHFI excluding PPP and MW LOC ($) Total Deposits ($) 0.53 1.20 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 12,702 28,322 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 3,672 6,571 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 3,102 4,498 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 DOLLARS IN THOUSANDS DOLLARS IN THOUSANDS DOLLARS IN MILLIONS DOLLARS IN MILLIONS Core Deposits ($)(1) 3,117 6,348 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 DOLLARS IN MILLIONS (1) As used in this presentation, core deposits is a non-GAAP financial measure. For a reconciliation of non-GAAP financial measures to their comparable GAAP measures, see the last few slides of this presentation. 7

ORIGIN BANCORP, INC. _______ TRENDING KEY MEASURES CONTINUED Pre-Tax Pre-Provision Earnings ($)(1) Efficiency Ratio (%) 66.99 56.92 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 UNAUDITED 15,773 30,535 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 Net Charge Offs ($) 121 2,693 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 Net Charge Offs to Total Average LHFI (%)(1) 0.01 0.21 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 21 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 DOLLARS IN THOUSANDS DOLLARS IN THOUSANDS Book Value per Common Share ($) 22.10 30.75 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 21.07 28.59 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 Tangible Book Value per Common Share ($)(2) (1) Annualized (2) As used in this presentation, PTPP 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, see the last few slides of this presentation. 8

ORIGIN BANCORP, INC. _______ 9 1,311 1,741 1,956 2,247 2,620 884 1,067 1,127 1,343 1,545 427 674 829 904 1,075 DFW Houston 2017 2018 2019 2020 2021 Deposit Trends by Texas Market ($) (2) Loan Trends by Texas Market ($) (1) TEXAS GROWTH STORY Texas Franchise Highlights DOLLARS IN MILLIONS, UNAUDITED • 19 branches throughout 5 counties in the 4th and 5th largest MSAs in the United States • Texas franchise represents 59% of LHFI, excluding mortgage warehouse loans, and 48% of deposits, excluding non-market- based deposits, at December 31, 2021 1,171 1,395 1,854 2,574 647 772 989 1,581 1,925524 623 865 993 1,207 DFW Houston 2017 2018 2019 2020 2021 CAGR 21.1% CAGR 27.9% (1) Excludes PPP and mortgage warehouse loans. (2) Non-market based deposits are not included in state deposits. 3,132

ORIGIN BANCORP, INC. _______ 10 ORGANIC LOAN GROWTH 2,986 3,581 3,869 4,094 4,498 2017 2018 2019 2020 2021 2,000 3,000 4,000 5,000 LHFI Key Data DOLLARS IN MILLIONS, UNAUDITED IDT • Remaining net deferred loan fees on PPP: $3.0 million • Remaining PPP loan balances: $105.8 million • PPP total loan originations: $767.4 million • PPP percent of loans forgiven at 12/31/2021: 84.5% • Total forgiveness applied for at 12/31/2021: 93.4% 437 582632 • LHFI excluding PPP and mortgage warehouse lines of credit increased 50.6% from 12/31/2017, with a CAGR of 10.8%. Total C&I excluding PPP, owner occupied CRE and CD increased 37.0% from 12/31/2017, with a CAGR of 8.2%. • Total LHFI at 12/31/2021, were $4.50 billion, excluding PPP and mortgage warehouse lines of credit, reflecting a $241.5 million, or 5.7%, increase compared to the linked quarter. • Total mortgage warehouse lines of credit were $627.1 million, or 12.0%, of total LHFI at 12/31/2021, which reflects normalization to our expected range of 10% to 12% by year-end 2021. LHFI excluding MW LOC and PPP Growth ($) PPP Highlights CAGR: 10.8% 1,483 1,803 1,902 1,833 2,032 2017 2018 2019 2020 2021 1,000 2,000 437 582632 C&I (excluding PPP), Owner Occupied CRE and C&D Growth ($) CAGR: 8.2%

ORIGIN BANCORP, INC. _______ 11 5,884 2,869 3,076 3,547 3,658 3,616 1,686 1,701 1,838 1,966 2,111 678 656 5,870 6,244 6,206 6,289 Interest-bearing Noninterest-bearing Time Deposits Brokered 4Q20 1Q21 2Q21 3Q21 4Q21 Average Deposits ($) DEPOSIT TRENDS 1.20 0.95 0.78 0.67 0.59 0.43 0.37 0.31 0.30 0.28 0.31 0.26 0.22 0.21 0.19 Time Deposits Cost of Interest-bearing Deposits Cost of Total Deposits 4Q20 1Q21 2Q21 3Q21 4Q21 Deposit Cost Trends (QTD Annualized) (%) Time Deposit Repricing Schedule * Maturity Balance ($) WAR (%) 1Q22 145 0.46 2Q22 121 0.43 3Q22 90 0.48 4Q22 71 0.46 1Q23+ 116 0.98 Total 543 0.56 DOLLARS IN MILLIONS, UNAUDITED IDT * Target time deposit rate of 18 basis points or less for new and renewed deposits. Projection is based upon December 31, 2021, time deposit balances. • Average noninterest-bearing deposits increased $145.0 million compared to the linked quarter and represented 33.6% of total average deposits. • Average brokered deposits were zero for the 4Q21 quarter, and decreased by $651 million compared to 4Q20, based on a strategy to reduce non-core funding sources as PPP and mortgage warehouse balances declined. • Overall cost of total deposits has declined 38.7% since 4Q20. • There were $157.5 million in new and renewed CD's during 4Q21 with a weighted average interest rate of 0.21% 437 227 651 582632 562

ORIGIN BANCORP, INC. _______ MW LOC: 12% Real Estate & Construction: 8% Finance & Insurance: 7% Transportation: 3% Retail Dealer: 2% Restaurants: 2% Professional Svcs: 2% Materials&Commodities: 1% Customer Svcs: 1% Banks: 1% Commercial Svcs: 1% Healthcare: 1% Entertainment: 1% Wholesale Distri.: 1% Misc: 9% Commercial & Industrial ("C&I") 27% Owner Occupied Construction/Land/Land Development ("C&D"): 3% Owner Occupied Commercial Real Estate ("CRE"): 10% MW LOC: 12% Non-Owner Occupied C&D: 7% Non- Owner Occupied CRE: 23% Residential Real Estate & Consumer 18% Retail Shopping: 6% Real Estate & Construction: 6% Office Building: 6% Healthcare: 5% Multi-family: 2% Hotel: 1% Restaurant: 1% Finance & Insurance: 1% Misc: 2% 12 WELL DIVERSIFIED LOAN PORTFOLIO (Dollars in thousands) 4Q21 3Q21 2Q21 1Q21 4Q20 C&I excl. PPP $ 1,348,474 $ 1,218,246 $ 1,200,881 $ 1,250,350 $ 1,271,343 Owner Occupied CRE 523,655 473,558 457,895 483,624 460,524 Owner Occupied C&D 160,131 151,650 122,933 104,415 100,755 MW LOC 627,078 713,339 865,255 1,090,347 1,084,001 Total Commercial 2,659,338 2,556,793 2,646,964 2,928,736 2,916,623 Non-Owner Occupied CRE 1,169,857 1,116,961 1,022,641 971,025 927,415 Non-Owner Occupied C&D 369,952 367,270 374,237 443,821 431,105 Residential Real Estate 909,739 913,411 966,301 904,753 885,120 Consumer Loans 16,684 15,896 16,253 17,277 17,991 PPP Loans 105,761 216,957 369,910 584,148 546,519 Total Loans $ 5,231,331 $ 5,187,288 $ 5,396,306 $ 5,849,760 $ 5,724,773 Loan Portfolio Details Non-Owner Occupied CRE and C&D: (1) $1,540 C&I, Owner Occupied CRE and C&D, MW LOC: (1) $2,659 C&I, Owner Occupied CRE and C&D, MW LOC: 52% Non-Owner Occupied CRE and C&D: 30% (1) Does not include loans held for sale or PPP loans. Loan Composition at 12/31/2021: (1) $5,126 DOLLARS IN MILLIONS, UNAUDITED ILP

ORIGIN BANCORP, INC. _______ 13 MOBILE FEATURE ADOPTION RATES(1) SUPPORTING OUR CUSTOMERS - LEVERAGING TECHNOLOGY ZELLE® USERS 35.1% GROWTH ZELLE® TRANSFERS 51.2% GROWTH 34.0% TRANSFER ADOPTION % ORIGIN BANK 29.2% INDUSTRY BENCHMARK 25.5% DEPOSIT ADOPTION % ORIGIN BANK 19.4% INDUSTRY BENCHMARK 7.2% BILL PAY ADOPTION % ORIGIN BANK 5.4% INDUSTRY BENCHMARK (1) All data provided by FIS Metrics Intelligence based upon asset size peer groups for the month of December 2021. REGISTERED APP USERS 13.4% GROWTH MOBILE DEPOSIT TRANSACTIONS 6.3% GROWTH Note: Growth rates compare December 2021 to December 2020. ILT

ORIGIN BANCORP, INC. _______ 2.08 1.81 1.66 1.52 1.35 Classified LHFI / Total LHFI excl. PPP Loans (%) Net Charge-Offs / Average LHFI excl. PPP Loans (annualized) (%) 4Q20 1Q21 2Q21 3Q21 4Q21 0.14 0.23 0.23 0.24 0.220.50 0.63 0.61 0.49 0.490.50 0.50 0.61 0.52 0.50 Nonperforming LHFI / LHFI excl. PPP loans (%) Past due LHFI / LHFI excl. PPP loans (%) 4Q20 1Q21 2Q21 3Q21 4Q21 14 CREDIT QUALITY Asset Quality Trends (%) Allowance for Loan Credit Losses ("ALCL") 86,670 85,136 77,104 69,947 64,586 1.51 1.46 1.43 1.35 2.10 2.02 1.84 1.63 1.43 ALCL ($) ALCL as a percentage of LHFI (%) ALCL as a percentage of LHFI excl. PPP and MW LOC (%) 4Q20 1Q21 2Q21 3Q21 4Q21 • Provision for credit losses for 4Q21 was a net benefit of $2.6 million, compared to a net benefit of $3.9 million in 3Q21, and provision expense of $6.3 million in 4Q20. The decline in the provision expense is primarily due to improvement in forecasted economic conditions and stable credit quality metrics. • ALCL to nonperforming LHFI is 259.35% at 4Q21, 284.86% at 3Q21, and 331.45% at 4Q20. DOLLARS IN THOUSANDS, UNAUDITED 1.23

ORIGIN BANCORP, INC. _______ 15 LHFI: Fixed \ Variable (by Index) at 12/31/2021 Fixed: 42% 1m LIBOR: 34% Prime: 23% Other indices: 1% YIELDS, COSTS AND LHFI PROFILE Yield on LHFI (%) 3.89 4.03 4.00 4.05 4.114.06 3.99 3.97 3.98 3.94 3.25 3.25 3.25 3.25 3.25 0.15 0.12 0.10 0.09 0.09 Yield on LHFI Yield on LHFI excl. PPP Loans Avg. Prime Rate Avg. 1M LIBOR 4Q20 1Q21 2Q21 3Q21 4Q21 Cost of Funds (%) 0.47 0.42 0.38 0.37 0.34 0.43 0.37 0.28 0.31 0.26 0.19 Cost of Total Deposits & Borrowings Cost of Interest Bearing Deposits Cost of Total Deposits 4Q20 1Q21 2Q21 3Q21 4Q21 0.22 0.31 0.30 0.21 Lo an B al an ce s (in m ill io ns ) Loan Balance 1-25 bps 26-50 bps 51-75 bps 76-100 bps >100 bps No Impact $0 $200 $400 $600 $800 $1,000 $1,200 1M LIBOR & Prime Indexed Loans excluding Mortgage Warehouse $1.99 billion - total $979.4 million no impact $1.01 billion "in the money" floors 17.0% 13.8% 5.5% 7.3% 7.2% 49.2%

ORIGIN BANCORP, INC. _______ 16 DOLLARS IN THOUSANDS, UNAUDITED 51,819 55,239 54,292 52,541 54,180 39,955 40,394 41,323 42,884 45,035 8,587 8,707 7,416 5,962 5,385 3,277 6,138 5,553 3,695 3,760 3.07 3.22 3.12 3.02 3.06 3.06 3.06 2.97 2.87 2.85 Net Interest Income excl. PPP & MW LOC ($) MW LOC Net Interest Income ($) PPP Net Interest Income ($) NIM (FTE) (%) NIM (FTE) excl. PPP & MW LOC (%) 4Q20 1Q21 2Q21 3Q21 4Q21 • NIM (FTE) excluding PPP and mortgage warehouse lines of credit decreased by two basis points to 2.85% in 4Q21 from 3Q21, driven primarily by excess liquidity migrating into comparatively lower interest-earning investment securities, offset by increases in the yield on interest-bearing balances due from banks. • Net forgiven PPP deferred loans fees contributed $3.1 million to net interest income in 4Q21. • NIM (FTE) was 3.06% in 4Q21, compared to 3.02% in 3Q21. NET INTEREST INCOME AND NIM TRENDS 45,035 42,884 1,153 442 298 231 228 (201) 3Q 21 Inv es tm en t Sec ur itie s RE Lo an s IB D ep os its C&I e xc l. P PP Non -M ar ke tab le Equ ity S ec . H eld in Othe r F in. In sti . Othe r 4Q 21 40,000 42,000 44,000 46,000 2.85 2.87 0.08 0.02 0.01 (0.01) (0.01) (0.02) (0.09) 3Q 21 IB B al. D ue Fr om B an ks IB D ep os its Non -M ar ke tab le Equ ity Sec . H eld in O the r F in. In sti . C&I e xc l. P PP RE Lo an s Othe r Inv es tm en t Sec ur itie s 4Q 21 2.60 2.80 3.00 Net Interest Income Changes Excl. PPP and MW LOC - 4Q21 ($) NIM Changes Excl. PPP and MW LOC - 4Q21 (%) INIM

ORIGIN BANCORP, INC. _______ Service Charges & Fees Mortgage Banking Revenue Insurance Commission & Fee Income Other 2Q18 3Q18 4Q181Q19 2Q19 3Q194Q19 1Q20 2Q203Q20 4Q20 1Q212Q21 3Q21 4Q21 17 Net Interest Income Noninterest Income 2Q18 3Q18 4Q18 1Q192Q19 3Q19 4Q19 1Q202Q20 3Q20 4Q201Q21 2Q21 3Q21 4Q21 Noninterest Income ($) Net Interest Income + Noninterest Income ($) NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS, UNAUDITED Components of Other Noninterest Income • Track record of sustained growth in income streams • Warehouse lending portfolio supports net interest income in low-rate environments • Diverse noninterest income sources • Community banking mortgage model supports earnings in low-rate environments • Focus on steady long-term growth in insurance commission and fee income 47,785 70,881 10,615 16,701 4Q21 3Q21 2Q21 1Q21 4Q20 Gain on Fair Value of Lincoln Agency $ 5,200 $ — $ — $ — $ — Limited Partnership Investment Income 50 3,078 801 1,772 368 Swap Fee (loss) Income(1) (285) 727 24 348 233 Valuation Income 11 (145) 125 (224) 31 Gain on Sale of Securities 75 — 5 1,668 225 Other 1,973 2,111 1,929 1,876 1,778 Total $ 7,024 $ 5,771 $ 2,884 $ 5,440 $ 2,635 (1) To benefit future income, the Company elected to unwind a one-way swap during the quarter ended December 31, 2021, and paid an early termination fee of $296,000.

ORIGIN BANCORP, INC. _______ 38,884 39,436 37,832 39,165 40,346 22,475 22,325 22,354 23,629 24,718 4,271 4,339 4,349 4,353 4,306 2,178 2,173 2,313 2,329 2,3021,856 1,705 2,154 1,949 1,880 1,472 1,454 1,498 1,598 1,849 6,632 7,440 5,164 5,307 5,291 Salaries and Employee Benefits Occupancy and Equipment, net Data Processing Loan-related Expenses Office and Operations Other 4Q20 1Q21 2Q21 3Q21 4Q21 18 • Salaries and employee benefits increased in 4Q21 compared to 3Q21 by $1.1 million, primarily due to bonus incentive compensation. • The focus remains on our technology strategy to build efficient scale to support additional organic growth and continue to create operational efficiencies. E FF IC E N C Y R A TI O (% ) 2.16 2.17 2.03 2.08 2.12 57.86 54.49 56.69 57.21 56.92 4Q20 1Q21 2Q21 3Q21 4Q21 45 60 75 1.5 1.8 2.0 2.3 Operating Leverage (%) NONINTEREST EXPENSE ANALYSIS N IE / AV E R A G E A S S E TS (% ) DOLLARS IN THOUSANDS, UNAUDITED Noninterest Expense Composition ($)

ORIGIN BANCORP, INC. _______ 8.6 8.7 8.9 9.2 9.2 9.0 9.0 9.2 9.5 9.7 Company Level Bank Level 4Q20 1Q21 2Q21 3Q21 4Q21 10.1 10.3 11.2 11.4 11.410.5 10.7 11.6 11.8 12.0 Company Level Bank Level 4Q20 1Q21 2Q21 3Q21 4Q21 19 CAPITAL Bank Level Company Level Sub-debt Impact 13.8 13.9 14.9 15.0 14.8 12.9 13.1 13.9 14.0 14.1 Company Level Bank Level 4Q20 1Q21 2Q21 3Q21 4Q21 Total Capital to Risk-Weighted Assets Changes - 4Q21 (%)(1) 14.95 0.47 0.21 0.12 0.07 0.06 (0.05) (0.07) (0.08) (0.25) (0.31) (0.36) 3Q 21 Net Inc om e W H LO C Ins ura nc e A cq uis itio n Inv es tm en t s ec uri tie s To tal Lo an G row th ex cl. M W LO C, C&I, & C RE Divi de nd s Othe r Off B ala nc e S he et CRE C&I Goo dw ill & In tan gib les 4Q 21 14.50 15.00 15.50 16.00 14.76 ICap ICap Total Capital to Risk-Weighted Assets (%)(1)Tier 1 Capital to Risk-Weighted Assets (%)(1) Tier 1 Capital to Average Assets (Leverage Ratio) (%)(1) (1) December 31, 2021, ratios are estimated.

ORIGIN BANCORP, INC. _______ Calculation of Core Deposits: 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 Total Deposits $ 6,570,693 $ 6,158,768 $ 6,028,352 $ 6,346,194 $ 5,751,315 $ 5,935,925 $ 5,372,222 $ 4,556,246 Less: Brokered Deposits — — — 571,673 431,180 835,902 490,881 435,138 Less: Time Deposits > $250K 222,656 245,312 264,566 276,629 271,272 275,112 311,256 309,918 Core Deposits $ 6,348,037 $ 5,913,456 $ 5,763,786 $ 5,497,892 $ 5,048,863 $ 4,824,911 $ 4,570,085 $ 3,811,190 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 Total Deposits $ 4,228,612 $ 4,284,317 $ 3,855,012 $ 3,898,248 $ 3,783,138 $ 3,727,158 $ 3,672,097 Less: Brokered Deposits 152,556 330,370 139,181 327,693 332,341 278,784 239,818 Less: Time Deposits > $250K 319,055 341,728 349,262 356,298 364,080 343,082 315,741 Core Deposits $ 3,757,001 $ 3,612,219 $ 3,366,569 $ 3,214,257 $ 3,086,717 $ 3,105,292 $ 3,116,538 Calculation of PTPP Earnings: 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 Net Income $ 28,322 $ 26,978 $ 27,733 $ 25,513 $ 17,552 $ 13,095 $ 4,957 $ 753 Plus: Provision for Credit Losses (2,647) (3,921) (5,609) 1,412 6,333 13,633 21,403 18,531 Plus: Income Tax Expense 4,860 6,242 6,774 6,009 4,431 3,206 786 (427) PTPP Earnings $ 30,535 $ 29,299 $ 28,898 $ 32,934 $ 28,316 $ 29,934 $ 27,146 $ 18,857 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 Net Income $ 12,827 $ 14,617 $ 12,283 $ 14,155 $ 13,178 $ 12,318 $ 12,702 Plus: Provision for Credit Losses 2,377 4,201 1,985 1,005 1,723 504 311 Plus: Income Tax Expense 3,175 3,620 2,782 3,089 2,725 2,568 2,760 PTPP Earnings $ 18,379 $ 22,438 $ 17,050 $ 18,249 $ 17,626 $ 15,390 $ 15,773 20 DOLLARS IN THOUSANDS, UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

ORIGIN BANCORP, INC. _______ Calculation of Tangible Book Value per Common Share: 4Q21 3Q21 2Q21 1Q21 4Q20 Total Common Stockholders' Equity $ 730,211 $ 705,667 $ 688,235 $ 656,355 $ 647,150 Less: Goodwill and Other Intangible Assets, net 51,330 29,830 30,024 30,246 30,480 Tangible Common Equity $ 678,881 $ 675,837 $ 658,211 $ 626,109 $ 616,670 Divided by Common Shares Outstanding at the End of the Period 23,746,502 23,496,058 23,502,215 23,488,884 23,506,312 Tangible Book Value per Common Share $ 28.59 $ 28.76 $ 28.01 $ 26.66 $ 26.23 3Q20 2Q20 1Q20 4Q19 3Q19 Total Common Stockholders' Equity $ 627,637 $ 614,781 $ 606,631 $ 599,362 $ 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 $ 567,822 $ 556,521 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 2Q19 1Q19 4Q18 3Q18 2Q18 Total Common Stockholders' Equity $ 584,293 $ 568,122 $ 549,779 $ 531,919 $ 519,356 Less: Goodwill and Other Intangible Assets, net 32,144 32,497 32,861 33,228 24,113 Tangible Common Equity $ 552,149 $ 535,625 $ 516,918 $ 498,691 $ 495,243 Divided by Common Shares Outstanding at the End of the Period 23,774,238 23,745,985 23,726,559 23,621,235 23,504,063 Tangible Book Value per Common Share $ 23.22 $ 22.56 $ 21.79 $ 21.11 $ 21.07 21 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

ORIGIN BANCORP, INC. _______ 4Q21 3Q21 4Q20 Calculation of PTPP Earnings: Net Income $ 28,322 $ 26,978 $ 17,552 Plus: Provision for Credit Losses (2,647) (3,921) 6,333 Plus: Income Tax Expense 4,860 6,242 4,431 PTPP Earnings $ 30,535 $ 29,299 $ 28,316 Calculation of PTPP ROAA and PTPP ROAE: PTPP Earnings $ 30,535 $ 29,299 $ 28,316 Divided by Number of Days in the Quarter 92 92 92 Multiplied by the Number of Days in the Year 365 365 366 Annualized PTPP Earnings $ 121,144 $ 116,241 $ 112,648 Divided by Total Average Assets $ 7,559,570 $ 7,464,813 $ 7,164,028 PTPP ROAA (Annualized) 1.60 % 1.56 % 1.57 % Divided by Total Average Stockholder's Equity $ 715,614 $ 703,605 $ 639,508 PTPP ROAE (Annualized) 16.93 % 16.52 % 17.61 % 22 DOLLARS IN THOUSANDS, UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

ORIGIN BANCORP, INC. _______ Year Ended December 31, 2021 December 31, 2020 Calculation of PTPP Earnings: Net Income $ 108,546 $ 36,357 Plus: Provision for Credit Losses (10,765) 59,900 Plus: Income Tax Expense 23,885 7,996 PTPP Earnings $ 121,666 $ 104,253 Calculation of PTPP ROAA and PTPP ROAE: Divided by Total Average Assets $ 7,470,927 $ 6,442,528 PTPP ROAA 1.63 % 1.62 % Divided by Total Average Stockholder's Equity $ 687,648 $ 624,580 PTPP ROAE 17.69 % 16.69 % 23 DOLLARS IN THOUSANDS, UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Document

Exhibit 99.3

https://cdn.kscope.io/e4e16703e196f1e5308cebb0b074649e-obnklogoa53.jpg

FOR IMMEDIATE RELEASE

January 26, 2022

Origin Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend

RUSTON, LOUISIANA (January 26, 2022) - Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin"), the holding company for Origin Bank, today announced that on January 26, 2022, 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 February 28, 2022, to stockholders of record as of the close of business on February 14, 2022.

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 coronavirus ("COVID-19") pandemic and efforts to contain its transmission, 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 and any related future economic stimulus legislation and the effects of the foregoing on the Company’s business and customers; 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; and 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 that occur 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