0001516912-24-000040 | 10-Q | XBRL Viewer

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments on the Balance Sheet

The following tables disclose the fair value of derivative instruments in the Company’s consolidated balance sheets at March 31, 2024 and December 31, 2023, as well as the effect of these derivative instruments on the Company’s consolidated statements of income for the three months ended March 31, 2024 and 2023. Derivative instruments and their related gains and losses are reported in other operating activities, net in the statements of cash flows.


(Dollars in thousands)	Notional Amounts(1)				Fair Values
Derivatives designated as cash flow hedging instruments:	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Interest rate swaps included in other assets	$	10,500	$	10,500	$	882	$	786

Derivatives not designated as hedging instruments:
Interest rate swaps included in other assets	$	367,272	$	363,498	$	21,326	$	18,567
Interest rate swaps included in other liabilities	360,457		356,683		(21,013)		(18,298)
Risk participation agreements included in other liabilities	20,000		20,000		—		(2)
Forward commitments to purchase forward-settling mortgage-backed securities included in other assets	—		9,000		—		91
Forward commitments to purchase treasury notes in other assets	—		22,500		—		822

Interest rate-lock commitments on residential mortgage loans included in other assets	17,585		8,471		509		221
	$	765,314	$	780,152	$	822	$	1,401

____________________________

(1)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets.

Schedule of Weighted-average Rates Paid and Received for Interest Rate Swaps

The weighted-average rates paid and received for interest rate swaps were as follows:


	Weighted-Average Interest Rate
	March 31, 2024				December 31, 2023
Interest rate swaps:	Paid		Received		Paid		Received
Cash flow hedges	4.24	%	8.34	%	4.24	%	8.35	%
Non-hedging interest rate swaps - financial institution counterparties	4.90		7.83		4.88		7.82
Non-hedging interest rate swaps - customer counterparties	7.83		4.90		7.82		4.88

Schedule of Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging Instruments

Gains and losses recognized on derivative instruments not designated as hedging instruments are as follows:


(Dollars in thousands)	Three Months Ended March 31,
Derivatives not designated as hedging instruments:	2024		2023
Amount of gain recognized in mortgage banking revenue (1)	$	219	$	665
Amount of gain recognized in other non-interest income	46		11

____________________________

(1)Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. The Company sold substantially all of its MSR recognizing a gain on the sale of $410,000 for the three months ended March 31, 2024. See Note 6 — Mortgage Banking for more information on components of mortgage banking revenue.

Mortgage Banking

3 Months Ended

Mar. 31, 2024

Mortgage Banking [Abstract]

Mortgage Banking

Note 6 — Mortgage Banking

The following table presents the Company’s revenue from mortgage banking operations:


(Dollars in thousands)	Three Months Ended March 31,
Mortgage banking revenue	2024		2023
Origination	$	108	$	111
Gain on sale of loans held for sale	964		609
Originations of MSRs	—		149
Servicing	654		989
Total gross mortgage revenue	1,726		1,858
MSR valuation adjustments, net	450		(906)
Gain on sale of MSR	410		—
Mortgage HFS and pipeline fair value adjustment	291		440
MSR hedge impact	(479)		389
Mortgage banking revenue	$	2,398	$	1,781

Management used forward-settling mortgage-backed securities and U.S. Treasury futures to mitigate the impact of changes in fair value of MSRs. See Note 8 — Derivative Financial Instruments for further information.

Mortgage Servicing Rights

Activity in MSRs was as follows:


	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Balance at beginning of period	$	15,637	$	20,824

Addition of servicing rights	—		149
Settlement of sale of MSR	(16,087)		(1,806)
Valuation adjustment, net of amortization	450		(906)
Balance at end of period	$	—	$	18,261

During the second half of 2022, the Company entered into an agreement to sell its GNMA MSR portfolio, which met all final sale conditions in early 2023. The Company sold $1.8 million in GNMA MSR, with no significant gain or loss realized, and derecognized the related GNMA repurchase asset and offsetting liability during the quarter ended March 31, 2023.

Prior to the sale of the Company’s MSR, the Company received annual servicing fee income approximating 0.25% of the outstanding balance of the underlying loans. In connection with the Company's activities as a servicer of mortgage loans, the investors and the securitization trusts have no recourse to the Company’s assets for failure of debtors to pay when due.

The Company is potentially subject to losses on loans previously sold due to loan foreclosures. The Company has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold violated representations or warranties made by the Company and/or the borrower at the time of the sale, which the Company refers to as mortgage loan putback expenses. Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation and/or loans obtained through fraud by borrowers or other third parties. Putback claims may be made until the loan is paid in full. When a putback claim is received, the Company evaluates the claim and takes appropriate actions based on the nature of the claim. The Company is required by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to provide a response to putback claims within 60 days of the date of receipt.

At March 31, 2024, and December 31, 2023, the reserve for mortgage loan putback expenses totaled $113,000 and $127,000, respectively. There is inherent uncertainty in reasonably estimating the requirement for reserves against future mortgage loan putback expenses. Future putback expenses depend on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

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+ Details

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
Earnings Per Share - Narrative (Details) - shares	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities (in shares)	429,589	220,980

Stock and Incentive Compensation Plans - Narrative (Details)		1 Months Ended	3 Months Ended
	Aug. 01, 2022 shares	Apr. 30, 2024 shares	Mar. 31, 2024 USD ($) category shares	Mar. 31, 2023 USD ($) shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense			$ 2,079,000	$ 1,391,000
Employee Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Maximum number of common stock available for issuance (in shares) \| shares			1,000,000
Shares available for issuance (in shares) \| shares			927,698	973,911
Stock repurchase program, discount percentage			15.00%
Offering period			1 year
Unrecognized compensation cost			$ 75,000
Unrecognized compensation cost weighted average period for recognition			2 months 1 day
Stock compensation expense			$ 106,000	$ 76,000
PSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation cost			$ 3,100,000
Unrecognized compensation cost weighted average period for recognition			1 year 7 months 6 days
Target percentage			100.00%
Performance period (in years)			3 years
Stock compensation expense			$ 915,000	293,000
Expiration period			3 years
Number of categories \| category			2
Stock Options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense			$ 0	$ 0
Expiration period			20 years
RSAs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation cost			$ 7,000
Unrecognized compensation cost weighted average period for recognition			7 days
RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation cost			$ 9,100,000
Unrecognized compensation cost weighted average period for recognition			3 years 6 months
Common Stock \| BTH
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock converted (in shares) \| shares	611,676
Minimum \| PSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Target percentage			0.00%
Minimum \| RSAs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Service period in which time-vested awards are earned			1 year
Minimum \| RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Service period in which time-vested awards are earned			1 year
Maximum \| PSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Target percentage			150.00%
Maximum \| RSAs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Service period in which time-vested awards are earned			7 years
Maximum \| RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Service period in which time-vested awards are earned			7 years
2012 Plan and the Omnibus Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Maximum number of common stock available for issuance (in shares) \| shares			1,375,000
2012 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Maximum number of common stock available for issuance (in shares) \| shares			24,604
2012 Plan \| Subsequent Event
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares available for issuance (in shares) \| shares		0
Omnibus Plan \| Subsequent Event
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Additional number of common stock available for issuance (in shares) \| shares		675,000

Stock and Incentive Compensation Plans - Black-Scholes Option Pricing Model (Details) - Employee Stock - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year	1 year
Dividend yield (in dollars per share)	$ 2.08	$ 1.52
Risk-free interest rate	4.94%	2.00%
Expected volatility	31.12%	32.56%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 12 — Commitments and Contingencies

Credit-Related Commitments

In the ordinary course of business, the Company enters into financial instruments, such as commitments to extend credit and letters of credit, to meet the financing needs of its customers. Such instruments are not reflected in the accompanying consolidated financial statements until they are funded, although they expose the Company to varying degrees of credit risk and interest rate risk in much the same way as funded loans.

Commitments to extend credit include revolving commercial credit lines, non-revolving loan commitments issued mainly to finance the merger and development or construction of real property or equipment, and credit card and personal credit lines. The availability of funds under commercial credit lines and loan commitments generally depends on whether the borrower continues to meet credit standards established in the underlying contract and has not violated other contractual conditions. Loan commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Credit card and personal credit lines are generally subject to cancellation if the borrower’s credit quality deteriorates. A number of commercial and personal credit lines are used only partially or, in some cases, not at all before they expire, and the total commitment amounts do not necessarily represent future cash requirements of the Company.

A substantial majority of the letters of credit are standby agreements that obligate the Company to fulfill a customer’s financial commitments to a third party if the customer is unable to perform. The Company issues standby letters of credit primarily to provide credit enhancement to its customers’ other commercial or public financing arrangements and to help them demonstrate financial capacity to vendors of essential goods and services.

The contract amounts of these instruments reflect the Company’s exposure to credit risk. The Company undertakes the same credit evaluation in making loan commitments and assuming conditional obligations as it does for on-balance sheet instruments and may require collateral or other credit support.

The table below presents the Company’s commitments to extend credit by commitment expiration date for the dates indicated:


(Dollars in thousands) March 31, 2024
	Less than One Year		One-Three Years		Three-Five Years		Greater than Five Years		Total
Commitments to extend credit(1)	$	875,843	$	838,913	$	390,674	$	50,723	$	2,156,153
Standby letters of credit	106,056		46,885		32,957		—		185,898
Total off-balance sheet commitments	$	981,899	$	885,798	$	423,631	$	50,723	$	2,342,051
December 31, 2023
Commitments to extend credit(1)	$	955,486	$	990,690	$	349,918	$	58,954	$	2,355,048
Standby letters of credit	103,280		20,458		32,957		—		156,695
Total off-balance sheet commitments	$	1,058,766	$	1,011,148	$	382,875	$	58,954	$	2,511,743

____________________________

(1)Includes $867.5 million and $759.4 million of unconditionally cancellable commitments at March 31, 2024, and December 31, 2023, respectively.

At March 31, 2024, the Company held 37 unfunded letters of credit from the FHLB totaling $745.0 million, with expiration dates ranging from April 17, 2024, to September 22, 2027. At December 31, 2023, the Company held 31 unfunded letters of credit from the FHLB totaling $693.6 million, with expiration dates ranging from January 14, 2024, to September 22, 2027.

Management establishes an asset-specific allowance for certain lending-related commitments and computes a formula-based allowance for performing consumer and commercial lending-related commitments. These are computed using a methodology similar to that used for the commercial loan portfolio, modified for expected maturities and probabilities of drawdown. The reserve for lending-related commitments was $3.6 million and $4.7 million at March 31, 2024, and December 31, 2023, respectively, and is included in accrued expenses and other liabilities in the accompanying consolidated balance sheets.

Loss Contingencies

From time to time, the Company is also party to various legal actions arising in the ordinary course of business. At this time, management does not expect that loss contingencies, if any, arising from any such proceedings, either individually or in the aggregate, would have a material adverse effect on the consolidated financial position or liquidity of the Company.

Borrowings (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Borrowed Funds

Borrowed funds are summarized as follows:


(Dollars in thousands)	March 31, 2024		December 31, 2023
Short-term FHLB advances	$	—	$	70,000
Long-term FHLB advances	6,406		6,474
Overnight repurchase agreements with depositors	6,752		7,124

Total FHLB advances and other borrowings	$	13,158	$	83,598
Subordinated indebtedness, net	$	160,684	$	194,279

Securities - Allowance for Credit Losses for Held-to-Maturity Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for credit losses:
Beginning Balance	$ 63	$ 899
Provision expense (recovery) for credit loss for held to maturity securities	(39)	82
Ending Balance	$ 24	$ 981

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Held to maturity, allowance for credit losses	$ 24	$ 63
Held to maturity, fair value	10,956	10,848
Allowance for credit losses	$ 98,375	$ 96,868
Common stock, par value (in dollars per share)	$ 5.00	$ 5.00
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	31,011,304	30,986,109

Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Estimated Fair Value of Securities

The following table is a summary of the amortized cost and estimated fair value, including the allowance for credit losses and gross unrealized gains and losses, of available for sale, held to maturity and securities carried at fair value through income for the dates indicated:


(Dollars in thousands) March 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Allowance for Credit Losses		Net Carrying Amount
Available for sale:
State and municipal securities	$	320,999	$	213	$	(43,615)	$	277,597	$	—	$	277,597
Corporate bonds	91,251		166		(8,170)		83,247		—		83,247
U.S. treasury and government agency securities	67,172		2		(4,736)		62,438		—		62,438
Commercial mortgage-backed securities	104,150		—		(11,410)		92,740		—		92,740
Residential mortgage-backed securities	552,647		—		(66,024)		486,623		—		486,623
Commercial collateralized mortgage obligations	45,874		—		(4,448)		41,426		—		41,426
Residential collateralized mortgage obligations	147,310		—		(20,977)		126,333		—		126,333
Asset-backed securities	20,576		23		(81)		20,518		—		20,518
Total	$	1,349,979	$	404	$	(159,461)	$	1,190,922	$	—	$	1,190,922
Held to maturity:
State and municipal securities	$	11,675	$	—	$	(719)	$	10,956	$	(24)	$	11,651
Securities carried at fair value through income:
State and municipal securities(1)	$	6,815	$	—	$	—	$	6,755	$	—	$	6,755


December 31, 2023
Available for sale:
State and municipal securities	$	323,356	$	210	$	(41,440)	$	282,126	$	—	$	282,126
Corporate bonds	92,244		80		(8,689)		83,635		—		83,635
U.S. treasury and government agency securities	84,377		3		(4,740)		79,640		—		79,640
Commercial mortgage-backed securities	104,459		—		(11,063)		93,396		—		93,396
Residential mortgage-backed securities	569,622		—		(63,120)		506,502		—		506,502
Commercial collateralized mortgage obligations	39,386		—		(4,203)		35,183		—		35,183
Residential collateralized mortgage obligations	150,710		—		(20,566)		130,144		—		130,144
Asset-backed securities	43,521		4		(520)		43,005		—		43,005
Total	$	1,407,675	$	297	$	(154,341)	$	1,253,631	$	—	$	1,253,631
Held to maturity:
State and municipal securities	$	11,678	$	—	$	(830)	$	10,848	$	(63)	$	11,615
Securities carried at fair value through income:
State and municipal securities(1)	$	6,815	$	—	$	—	$	6,808	$	—	$	6,808

________________________

(1)Securities carried at fair value through income have no unrealized gains or losses at the consolidated balance sheet dates as all changes in value have been recognized in the consolidated statements of income. See Note 5 — Fair Value of Financial Instruments for more information.

Schedule of Unrealized Losses

Securities with unrealized losses at March 31, 2024, and December 31, 2023, aggregated by investment category and those individual securities that have been in a continuous unrealized loss position for less than 12 months, and for 12 months or more, were as follows.


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands) March 31, 2024	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Available for sale:
State and municipal securities	$	25,235	$	(258)	$	246,037	$	(43,357)	$	271,272	$	(43,615)
Corporate bonds	800		(200)		73,213		(7,970)		74,013		(8,170)
U.S. treasury and government agency securities	—		—		58,922		(4,736)		58,922		(4,736)
Commercial mortgage-backed securities	—		—		92,740		(11,410)		92,740		(11,410)
Residential mortgage-backed securities	—		—		486,623		(66,024)		486,623		(66,024)
Commercial collateralized mortgage obligations	6,627		(64)		34,799		(4,384)		41,426		(4,448)
Residential collateralized mortgage obligations	—		—		126,333		(20,977)		126,333		(20,977)
Asset-backed securities	3,841		(2)		12,469		(79)		16,310		(81)
Total	$	36,503	$	(524)	$	1,131,136	$	(158,937)	$	1,167,639	$	(159,461)
Held to maturity:
State and municipal securities	$	4,833	$	(328)	$	6,123	$	(391)	$	10,956	$	(719)

December 31, 2023
Available for sale:
State and municipal securities	$	27,106	$	(266)	$	246,442	$	(41,174)	$	273,548	$	(41,440)
Corporate bonds	4,254		(53)		74,566		(8,636)		78,820		(8,689)
U.S. treasury and government agency securities	—		—		77,340		(4,740)		77,340		(4,740)
Commercial mortgage-backed securities	—		—		93,396		(11,063)		93,396		(11,063)
Residential mortgage-backed securities	60		(5)		506,442		(63,115)		506,502		(63,120)
Commercial collateralized mortgage obligations	—		—		35,183		(4,203)		35,183		(4,203)
Residential collateralized mortgage obligations	—		—		130,144		(20,566)		130,144		(20,566)
Asset-backed securities	7,350		(52)		31,618		(468)		38,968		(520)
Total	$	38,770	$	(376)	$	1,195,131	$	(153,965)	$	1,233,901	$	(154,341)
Held to maturity:
State and municipal securities	$	4,717	$	(447)	$	6,131	$	(383)	$	10,848	$	(830)

Schedule of Allowance for Credit Losses for Held-to-Maturity Debt Securities

The following table presents the activity in the allowance for credit losses for held-to-maturity securities.


(Dollars in thousands)	Municipal Securities
Allowance for credit losses:	2024

Balance at January 1, 2024	$	63
Provision recovery for credit loss for held to maturity securities	(39)
Balance at March 31, 2024	$	24
Balance at January 1, 2023	$	899
Provision expense for credit loss for held to maturity securities	82
Balance at March 31, 2023	$	981

Schedule of Proceeds from Sales of Securities Available for Sale and Gross Gains and Losses

Proceeds from sales and calls, and related gross gains and losses of securities available for sale, are shown below.


	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Proceeds from sales/calls	$	21,224	$	39,195
Gross realized gains	—		596
Gross realized losses	(403)		(452)

Schedule of Securities Classified by Contractual Maturity

The following table presents the amortized cost and fair value of securities available for sale and held to maturity at March 31, 2024, grouped by contractual maturity. Mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, which do not have contractual payments due at a single maturity date, are shown separately. Actual maturities for mortgage-backed securities, collateralized mortgage obligations, and asset-backed securities will differ from contractual maturities as a result of prepayments made on the underlying loans.


(Dollars in thousands)	Held to Maturity				Available for Sale
March 31, 2024	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	48,761	$	48,562
Due after one year through five years	—		—		86,572		79,665
Due after five years through ten years	5,161		4,833		177,058		156,673
Due after ten years	6,514		6,123		167,031		138,382
Commercial mortgage-backed securities	—		—		104,150		92,740
Residential mortgage-backed securities	—		—		552,647		486,623
Commercial collateralized mortgage obligations	—		—		45,874		41,426
Residential collateralized mortgage obligations	—		—		147,310		126,333
Asset-backed securities	—		—		20,576		20,518
Total	$	11,675	$	10,956	$	1,349,979	$	1,190,922

Schedule of Securities Pledged as Collateral

The following table presents carrying amounts of securities pledged as collateral for deposits and repurchase agreements at the periods presented.



(Dollars in thousands)	March 31, 2024		December 31, 2023
Carrying value of securities pledged to secure public deposits	$	395,574	$	421,273
Carrying value of securities pledged to repurchase agreements	5,210		5,477

Loans

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Loans

Note 4 — Loans

Loans consist of the following:



(Dollars in thousands)	March 31, 2024		December 31, 2023
Loans held for sale	$	14,975	$	16,852
LHFI:
Loans secured by real estate:


Commercial real estate(1)	$	2,420,788	$	2,442,734
Construction/land/land development	1,168,597		1,070,225
Residential real estate	1,733,297		1,734,935
Total real estate	5,322,682		5,247,894
Commercial and industrial	2,154,151		2,059,460
Mortgage warehouse lines of credit	400,995		329,966
Consumer	22,199		23,624
Total LHFI(2)	7,900,027		7,660,944
Less: Allowance for loan credit losses (“ALCL”)	98,375		96,868
LHFI, net	$	7,801,652	$	7,564,076

____________________________

(1)Includes owner occupied commercial real estate of $948.6 million and $953.8 million at March 31, 2024, and December 31, 2023, respectively.

(2)Includes unamortized purchase accounting adjustment and net deferred loan fees of $11.4 million and $11.8 million at March 31, 2024, and December 31, 2023, respectively. As of March 31, 2024, and December 31, 2023, the remaining purchase accounting net loan discount was immaterial.

Credit quality indicators. As part of the Company’s commitment to managing the credit quality of its loan portfolio, management annually and periodically updates and evaluates certain credit quality indicators, which include but are not limited to (i) weighted-average risk rating of the loan portfolio, (ii) net charge-offs, (iii) level of non-performing loans, (iv) level of classified loans (defined as substandard, doubtful and loss), and (v) the general economic conditions particularly in the cities and states in which the Company operates. The Company maintains an internal risk rating system where ratings are assigned to individual loans based on assessed risk. Loan risk ratings are the primary indicator of credit quality for the loan portfolio and are continually evaluated to ensure they are appropriate based on currently available information.

The following is a summary description of the Company’s internal risk ratings:


• Pass (1-6)			Loans within this risk rating are further categorized as follows:
Minimal risk (1)			Well-collateralized by cash equivalent instruments held by the Banks.
Moderate risk (2)			Borrowers with excellent asset quality and liquidity. Borrowers’ capitalization and liquidity exceed industry norms. Borrowers in this category have significant levels of liquid assets and have a low level of leverage.
Better than average risk (3)			Borrowers with strong financial strength and excellent liquidity that consistently demonstrate strong operating performance. Borrowers in this category generally have a sizable net worth that can be converted into liquid assets within 12 months.
Average risk (4)			Borrowers with sound credit quality and financial performance, including liquidity. Borrowers are supported by sufficient cash flow coverage generated through operations across the full business cycle.
Marginally acceptable risk (5)			Loans generally meet minimum requirements for an acceptable loan in accordance with lending policy, but possess one or more attributes that cause the overall risk profile to be higher than the majority of newly approved loans.
Watch (6)			A passing loan with one or more factors that identify a potential weakness in the overall ability of the borrower to repay the loan. These weaknesses are generally mitigated by other factors that reduce the risk of delinquency or loss.
• Special Mention (7)			This grade is intended to be temporary and includes borrowers whose credit quality has deteriorated and is at risk of further decline.
• Substandard (8)			This grade includes “Substandard” loans under regulatory guidelines. Substandard loans exhibit a well-defined weakness that jeopardizes debt repayment in accordance with contractual agreements, even though the loan may be performing. These obligations are characterized by the distinct possibility that a loss may be incurred if these weaknesses are not corrected and repayment may be dependent upon collateral liquidation or secondary source of repayment.
• Doubtful (9)			This grade includes “Doubtful” loans under regulatory guidelines. Such loans are placed on nonaccrual status and repayment may be dependent upon collateral with no readily determinable valuation or valuations that are highly subjective in nature. Repayment for these loans is considered improbable based on currently existing facts and circumstances.
• Loss (0)			This grade includes “Loss” loans under regulatory guidelines. Loss loans are charged-off or written down when repayment is not expected.

In connection with the review of the loan portfolio, the Company considers risk elements attributable to particular loan types or categories in assessing the quality of individual loans. The list of loans to be reviewed for possible individual evaluation consists of unsecured loans over 90 days past due, modified loans to borrowers experiencing financial difficulty, loans greater than $100,000 in which the borrower has filed bankruptcy, collateralized loans 180 days or more past due, classified commercial loans, including non-accrual, over $100,000 with direct exposure, and consumer loans greater than $100,000 with a FICO score under 625. Loans under $50,000 will be evaluated collectively in designated pools unless a loss exposure has been identified. Some additional risk elements considered by loan type include:

•for commercial real estate loans, the debt service coverage ratio, operating results of the owner in the case of owner-occupied properties, the loan to value ratio, the age and condition of the collateral and the volatility of income, property value and future operating results typical of properties of that type;

•for construction, land and land development loans, the perceived feasibility of the project, including the ability to sell developed lots or improvements constructed for resale or the ability to lease property constructed for lease, the quality and nature of contracts for presale or prelease, if any, experience and ability of the developer and loan to value ratio;

•for residential mortgage loans, the borrower’s ability to repay the loan, including a consideration of the debt to income ratio and employment and income stability, the loan-to-value ratio, and the age, condition and marketability of the collateral;

•for commercial and industrial loans, the debt service coverage ratio (income from the business in excess of operating expenses compared to loan repayment requirements), the operating results of the commercial, industrial or professional enterprise, the borrower’s business, professional and financial ability and expertise, the specific risks and volatility of income and operating results typical for businesses in that category and the value, nature and marketability of collateral; and

•for mortgage warehouse loans, the borrower’s adherence to agency or investor underwriting guidelines, while the risk associated with the underlying consumer mortgage loan repayments, similar to other consumer loans, depends on the borrower’s financial stability and are more likely than commercial loans to be adversely affected by divorce, job loss, illness and other personal hardships.

Purchased loans that have experienced more than insignificant credit deterioration since origination at the time of acquisition are PCD loans. An allowance for credit losses is determined using the same methodology as other individually evaluated loans. As a result of the merger with BT Holdings, Inc., (“BTH”), the Company held approximately $32.1 million and $34.8 million of unpaid principal balance PCD loans at March 31, 2024, and December 31, 2023, respectively.

Please see Note 1 — Significant Accounting Policies included in the 2023 Form 10-K, filed with the SEC for a description of our accounting policies related to purchased financial assets with credit deterioration.

The following table reflects recorded investments in loans by credit quality indicator and origination year at March 31, 2024, and gross charge-offs for the three months ended March 31, 2024, excluding loans held for sale. Loans acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at March 31, 2024.


	Term Loans
	Amortized Cost Basis by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate:
Pass	$	53,920	$	339,064	$	879,163	$	471,291	$	238,129	$	342,477	$	75,186	$	2,399,230
Special mention	—		—		—		—		—		7,902		—		7,902
Classified	735		732		3,453		3,661		1,939		2,866		270		13,656

Total commercial real estate loans	$	54,655	$	339,796	$	882,616	$	474,952	$	240,068	$	353,245	$	75,456	$	2,420,788
Year-to-date gross charge-offs	$	—	$	11	$	193	$	—	$	251	$	—	$	—	$	455



Construction/land/land development:
Pass	$	33,939	$	309,113	$	485,551	$	212,239	$	20,392	$	28,738	$	45,460	$	1,135,432
Special mention	—		746		10,432		19,646		263		—		—		31,087
Classified	126		186		228		119		232		1,187		—		2,078

Total construction/land/land development loans	$	34,065	$	310,045	$	496,211	$	232,004	$	20,887	$	29,925	$	45,460	$	1,168,597
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Residential real estate:
Pass	$	27,372	$	327,421	$	533,926	$	285,239	$	233,821	$	218,562	$	91,462	$	1,717,803
Special mention	—		—		—		—		136		—		—		136
Classified	867		1,944		2,433		2,962		1,193		5,553		406		15,358

Total residential real estate loans	$	28,239	$	329,365	$	536,359	$	288,201	$	235,150	$	224,115	$	91,868	$	1,733,297
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Commercial and industrial:
Pass	$	128,195	$	370,024	$	237,053	$	142,170	$	31,382	$	74,763	$	1,110,563	$	2,094,150
Special mention	—		477		6,052		—		—		—		451		6,980
Classified	1,919		2,921		1,827		9,619		782		712		35,241		53,021

Total commercial and industrial loans	$	130,114	$	373,422	$	244,932	$	151,789	$	32,164	$	75,475	$	1,146,255	$	2,154,151
Year-to-date gross charge-offs	$	—	$	536	$	316	$	79	$	162	$	154	$	4,934	$	6,181



Mortgage Warehouse Lines of Credit:




Total mortgage warehouse lines of credit	$	—	$	—	$	—	$	—	$	—	$	—	$	400,995	$	400,995
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Consumer:
Pass	$	2,424	$	8,578	$	2,783	$	830	$	309	$	416	$	6,755	$	22,095

Classified	—		32		51		8		—		—		13		104

Total consumer loans	$	2,424	$	8,610	$	2,834	$	838	$	309	$	416	$	6,768	$	22,199
Year-to-date gross charge-offs	$	—	$	—	$	10	$	3	$	—	$	—	$	34	$	47

The following table reflects recorded investments in loans by credit quality indicator and origination year at December 31, 2023, and gross charge-offs for the year ended December 31, 2023, excluding loans held for sale. Loans acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at December 31, 2023.


	Term Loans
	Amortized Cost Basis by Origination Year
(Dollars in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate:
Pass	$	333,887	$	885,234	$	470,252	$	253,700	$	204,421	$	188,532	$	77,993	$	2,414,019
Special mention	—		—		308		—		—		7,950		—		8,258
Classified	726		4,285		3,212		1,765		524		9,945		—		20,457

Total commercial real estate loans	$	334,613	$	889,519	$	473,772	$	255,465	$	204,945	$	206,427	$	77,993	$	2,442,734
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	42	$	—	$	42



Construction/land/land development:
Pass	$	259,502	$	461,373	$	214,526	$	21,309	$	7,221	$	25,460	$	42,700	$	1,032,091
Special mention	746		10,462		19,811		—		—		—		—		31,019
Classified	191		3,132		41		240		662		560		2,289		7,115

Total construction/land/land development loans	$	260,439	$	474,967	$	234,378	$	21,549	$	7,883	$	26,020	$	44,989	$	1,070,225
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Residential real estate:
Pass	$	332,874	$	549,504	$	289,289	$	237,813	$	79,499	$	142,265	$	91,972	$	1,723,216
Special mention	250		—		—		141		—		—		—		391
Classified	689		1,985		1,439		407		1,367		4,949		492		11,328

Total residential real estate loans	$	333,813	$	551,489	$	290,728	$	238,361	$	80,866	$	147,214	$	92,464	$	1,734,935
Year-to-date gross charge-offs	$	—	$	—	$	—	$	5	$	—	$	22	$	—	$	27



Commercial and industrial:
Pass	$	399,485	$	272,152	$	160,636	$	36,995	$	57,562	$	48,523	$	1,035,021	$	2,010,374
Special mention	498		6,383		—		—		—		—		650		7,531
Classified	3,583		1,676		12,908		371		470		222		22,325		41,555

Total commercial and industrial loans	$	403,566	$	280,211	$	173,544	$	37,366	$	58,032	$	48,745	$	1,057,996	$	2,059,460
Year-to-date gross charge-offs	$	203	$	328	$	233	$	141	$	539	$	679	$	9,710	$	11,833



Mortgage Warehouse Lines of Credit:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	329,966	$	329,966



Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—




Consumer:
Pass	$	11,053	$	3,567	$	1,040	$	399	$	470	$	17	$	6,988	$	23,534

Classified	35		42		10		—		2		—		1		90

Total consumer loans	$	11,088	$	3,609	$	1,050	$	399	$	472	$	17	$	6,989	$	23,624
Year-to-date gross charge-offs	$	3	$	102	$	7	$	—	$	—	$	2	$	33	$	147

The following tables present the Company’s loan portfolio aging analysis at the dates indicated:


	March 31, 2024
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Loans Past Due 90 Days or More		Total Past Due		Current Loans		Total Loans Receivable		Accruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate	$	2,477	$	307	$	579	$	3,363	$	2,417,425	$	2,420,788	$	—
Construction/land/land development	132		—		123		255		1,168,342		1,168,597		—
Residential real estate	7,192		679		5,424		13,295		1,720,002		1,733,297		—
Total real estate	9,801		986		6,126		16,913		5,305,769		5,322,682		—
Commercial and industrial	1,044		10,331		4,330		15,705		2,138,446		2,154,151		—
Mortgage warehouse lines of credit	—		—		—		—		400,995		400,995		—
Consumer	199		13		5		217		21,982		22,199		—
Total LHFI	$	11,044	$	11,330	$	10,461	$	32,835	$	7,867,192	$	7,900,027	$	—


	December 31, 2023
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Loans Past Due 90 Days or More		Total Past Due		Current Loans		Total Loans Receivable		Accruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate	$	2,264	$	—	$	—	$	2,264	$	2,440,470	$	2,442,734	$	—
Construction/land/land development	834		27		13		874		1,069,351		1,070,225		—
Residential real estate	8,055		1,326		5,960		15,341		1,719,594		1,734,935		—
Total real estate	11,153		1,353		5,973		18,479		5,229,415		5,247,894		—
Commercial and industrial	1,221		713		5,417		7,351		2,052,109		2,059,460		—
Mortgage warehouse lines of credit	—		—		—		—		329,966		329,966		—
Consumer	200		10		3		213		23,411		23,624		—
Total LHFI	$	12,574	$	2,076	$	11,393	$	26,043	$	7,634,901	$	7,660,944	$	—

The following tables detail activity in the ALCL by portfolio segment. Accrued interest of $36.2 million and $28.5 million was not included in the book value for the purposes of calculating the allowance at March 31, 2024 and 2023, respectively. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


	Three Months Ended March 31, 2024
	Commercial Real Estate			Construction/ Land/ Land Development			Residential Real Estate			Commercial and Industrial			Mortgage Warehouse Lines of Credit			Consumer			Total

	(Dollars in thousands)
Beginning balance	$	19,625		$	9,990		$	10,619		$	55,330		$	529		$	775		$	96,868
Charge-offs	455			—			—			6,181			—			47			6,683
Recoveries	30			—			4			4,064			—			3			4,101
Provision(1)	(1,656)			(11)			11			5,610			132			3			4,089

Ending balance	$	17,544		$	9,979		$	10,634		$	58,823		$	661		$	734		$	98,375
Average balance	$	2,438,476		$	1,130,355		$	1,739,105		$	2,121,502		$	306,248		$	23,319		$	7,759,005



Net charge-offs to loan average balance (annualized)	0.07		%	—		%	—		%	0.40		%	—		%	0.76		%	0.13		%

_________________________ (1)The $3.0 million provision for credit losses on the consolidated statement of income includes a $4.1 million provision for loan losses, a $1.0 million and $39,000 net benefit provision for off-balance sheet commitments and credit losses on held to maturity securities for the three months ended March 31, 2024.


	Three Months Ended March 31, 2023
	Commercial Real Estate			Construction/ Land/ Land Development			Residential Real Estate			Commercial and Industrial			Mortgage Warehouse Lines of Credit			Consumer			Total

	(Dollars in thousands)
Beginning balance	$	19,772		$	7,776		$	8,230		$	50,148		$	379		$	856		$	87,161

Charge-offs	42			—			—			2,169			—			82			2,293
Recoveries	60			—			5			912			—			5			982
Provision(1)	891			289			285			4,466			186			41			6,158
Ending balance	$	20,681		$	8,065		$	8,520		$	53,357		$	565		$	820		$	92,008
Average balance	$	2,342,545		$	974,914		$	1,519,325		$	2,070,356		$	213,201		$	26,017		$	7,146,358

Net charge-offs to loan average balance (annualized)	—		%	—		%	—		%	0.25		%	—		%	1.20		%	0.07		%


_________________________ (1)The $6.2 million provision for credit losses on the consolidated statements of income includes a $6.2 million provision for loan losses, a $43,000 benefit for off-balance sheet commitments and an $82,000 provision for held to maturity securities credit losses for the three months ended March 31, 2023.

The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ALCL allocated to these loans.


	March 31, 2024
(Dollars in thousands)	Commercial Real Estate		Construction/ Land/ Land Development		Residential Real Estate		Commercial and Industrial		Mortgage Warehouse Lines of Credit		Consumer		Total
Real Estate	$	2,358	$	83	$	11,796	$	—	$	—	$	—	$	14,237

Equipment	—		—		—		69		—		—		69
Other	—		—		—		425		—		—		425
Total	$	2,358	$	83	$	11,796	$	494	$	—	$	—	$	14,731
ALCL Allocation	$	—	$	—	$	122	$	—	$	—	$	—	$	122


	December 31, 2023
(Dollars in thousands)	Commercial Real Estate		Construction/ Land/ Land Development		Residential Real Estate		Commercial and Industrial		Mortgage Warehouse Lines of Credit		Consumer		Total
Real Estate	$	605	$	—	$	4,029	$	—	$	—	$	—	$	4,634
Equipment	—		—		—		119		—		—		119
Other	—		—		—		258		—		—		258

Total	$	605	$	—	$	4,029	$	377	$	—	$	—	$	5,011
ALCL Allocation	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Collateral-dependent loans consist primarily of residential real estate, commercial real estate and commercial and industrial loans. These loans are individually evaluated when foreclosure is probable or when the repayment of the loan is expected to be provided substantially through the operation or sale of the underlying collateral. In the case of commercial and industrial loans secured by equipment, the fair value of the collateral is estimated by third-party valuation experts. Loan balances are charged down to the underlying collateral value when they are deemed uncollectible. Note that the Company did not elect to use the collateral maintenance agreement practical expedient available under the current expected credit loss (“CECL”) guidance.

Nonaccrual LHFI was as follows:



	Nonaccrual With No Allowance for Credit Loss				Total Nonaccrual
(Dollars in thousands) Loans secured by real estate:	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Commercial real estate	$	3,006	$	746	$	4,474	$	786
Construction/land/land development	179		96		383		305
Residential real estate	12,489		5,695		14,918		13,037
Total real estate	15,674		6,537		19,775		14,128
Commercial and industrial	5,005		4,706		20,560		15,897
Mortgage warehouse lines of credit	—		—		—		—
Consumer	—		—		104		90
Total nonaccrual loans	$	20,679	$	11,243	$	40,439	$	30,115

All interest formerly accrued but not received for loans placed on nonaccrual status is reversed from interest income. Subsequent receipts on nonaccrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

For the three months ended March 31, 2024 and 2023, gross interest income that would have been recorded had the nonaccruing loans been current in accordance with their original terms, was $394,000 and $136,000, respectively. No interest income was recorded on these loans while they were considered nonaccrual during the years ended March 31, 2024 and 2023.

The Company elects the fair value option for recording residential mortgage loans held for sale in accordance with U.S. GAAP. The company had zero nonaccrual mortgage loans held for sale that were recorded using the fair value option election at both March 31, 2024 and December 31, 2023.

The tables below summarize modifications made to borrowers experiencing financial difficulty by loan and modification type during the three months ended March 31, 2024 and 2023.



		Amortized Cost Basis at March 31, 2024
	Term Extension					Other-Than-Insignificant Payment Delay
(Dollars in thousands)		Amortized Cost		% of Loans			Amortized Cost		% of Loans
Loans secured by real estate:

Construction/land/land development		$	1,462	0.13	%		$	—	—	%
Residential real estate		35		—			—		—
Total real estate		1,497		0.03			—		—
Commercial and industrial		7,312		0.34			35		—


Total		$	8,809	0.11			$	35	—



		Amortized Cost Basis at March 31, 2023
	Term Extension
(Dollars in thousands)		Amortized Cost		% of Loans
Loans secured by real estate:
Commercial real estate		$	2,230	0.09	%
Construction/land/land development		3,346		0.35

Total real estate		5,576		0.11
Commercial and industrial		9,304		0.44


Total		$	14,880	0.20

The following tables describe the financial effect of the modification made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023.

Three Months Ended March 31, 2024

Term Extension

Other-Than-Insignificant Payment Delay

Construction/land/land development

Added a weighted average 3.9 months to the life of the modified loans

N/A

Residential real estate

Added a weighted average 6.0 months to the life of the modified loans

N/A

Commercial and industrial

Added a weighted average 6.0 months to the life of the modified loans

Delayed payment of weighted average 2.0 months

Three Months Ended March 31, 2023

Term Extension

Commercial real estate

Added a weighted average 4.1 months to the life of the modified loans

Construction/land/land development

Added a weighted average 4.8 months to the life of the modified loans

Commercial and industrial

Added a weighted average 3.6 months to the life of the modified loans

The following table depicts the performance of loans that have been modified during the last twelve months ended March 31, 2024.



	Payment Status (Amortized Cost Basis)
	March 31, 2024
(Dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due
Loans secured by real estate:
Commercial real estate	$	1,198	$	—	$	168
Construction/land/land development	1,570		—		96
Residential real estate	2,006		117		235
Total real estate	4,774		117		499
Commercial and industrial	15,511		90		631


Total LHFI	$	20,285	$	207	$	1,130

At March 31, 2024, and December 31, 2023, the Company had zero and $1.6 million funding commitments for loans in which the terms were modified as a result of the borrowers experiencing financial difficulty, respectively. There were no loans to borrowers experiencing financial difficulty that defaulted during the three months ended March 31, 2024 or 2023, that were modified within the last 12 months.

A payment default is defined as a loan that was 90 or more days past due. The Company monitors the performance of modified loans on an ongoing basis. In the event of subsequent default, the ALCL is assessed on the basis of an individual evaluation of each loan. The modifications made during the periods presented did not significantly impact the Company’s determination of the allowance for credit losses.

Borrowings - Schedule of Borrowed Funds (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total FHLB advances and other borrowings	$ 13,158	$ 83,598
FHLB advances
Debt Instrument [Line Items]
Total FHLB advances and other borrowings	6,406	6,474
Subordinated indebtedness, net
Debt Instrument [Line Items]
Subordinated indebtedness, net	160,684	194,279
FHLB advances
Debt Instrument [Line Items]
Total FHLB advances and other borrowings	0	70,000
Overnight repurchase agreements with depositors
Debt Instrument [Line Items]
Total FHLB advances and other borrowings	$ 6,752	$ 7,124

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Stock and Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Black-Scholes Option Pricing Model

The table below includes the weighted-average assumptions used to calculate the grant date fair value of the ESPP rights for the periods indicated using the Black-Scholes option pricing model:



	Three Months Ended March 31,
	2024			2023
Expected term (in years)	1.00			1.00
Dividend yield	$	2.08		$	1.52
Risk-free interest rate	4.94		%	2.00		%
Expected volatility	31.12			32.56

Schedule of ESPP Shares Purchased

The ESPP shares purchased are as follows for the dates indicated:



	Three Months Ended March 31,
	2024	2023
ESPP shares purchased	—	—

Shares available for issuance under the ESPP	927,698	973,911

Schedule of Share-Based Compensation Cost Charged to Income

Share-based compensation cost charged to income for the years ended March 31, 2024 and 2023, is presented below. There was no stock option expense for any of the periods shown.


	Three Months Ended March 31,
(Dollars in thousands)		2024		2023
RSA & RSU		$	1,058	$	1,022
PSU		915		293
ESPP		106		76
Total stock compensation expense		$	2,079	$	1,391
Related tax benefits recognized in net income		$	437	$	292

Schedule of Time-Vested Award Activity

The following table summarizes the Company’s award activity:


	Three Months Ended March 31,
	2024			2023
	Shares	Weighted Average Grant-Date Fair Value		Shares	Weighted Average Grant-Date Fair Value
Nonvested RSAs, January 1,	17,629	$	29.33	27,391	$	35.27

Vested RSAs	—	—		(12,840)	37.39

Nonvested RSAs, March 31,	17,629	29.33		14,551	33.59

Nonvested RSUs, January 1,	318,168	$	37.69	270,390	$	39.63
Granted RSUs	8,761	30.43		65,842	40.69


Vested RSUs	(28,088)	41.77		(12,005)	44.77
Forfeited RSUs	—	—		(1,357)	41.41
Nonvested RSUs, March 31,	298,841	37.09		322,870	39.65

Nonvested PSUs, January 1,	197,842	$	28.33	157,367	$	29.06
Granted PSUs	—	—		43,591	37.91
Forfeited PSUs	—	—		(1,592)	37.91
Nonvested PSUs, March 31,	197,842	31.74		199,366	30.50

Schedule of Stock Option Activity

The table below summarizes the status of the Company’s stock options and changes during the three months ended March 31, 2024 and 2023.


(Dollars in thousands, except per share amounts)	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Three Months Ended March 31, 2024
Outstanding at January 1, 2024	353,473	$	31.49	4.46	$	1,670

Exercised	(7,941)	16.66		—	130
Expired	(2,151)	37.18		—	—
Outstanding and exercisable at March 31, 2024	343,381	31.79		4.04	771

Three Months Ended March 31, 2023
Outstanding at January 1, 2023	504,437	$	29.46	5.13	$	3,736

Exercised	(27,282)	15.62		—	587
Expired	(331)	37.76		—	—
Outstanding and exercisable at March 31, 2023	476,824	30.24		5.00	1,728

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing asset at fair value, gain (loss) on disposal	$ 410,000
Mortgage servicing rights assets recognized or recorded during period	0	$ 149,000
Carrying value MSR assets	0	$ 18,261,000	$ 15,637,000	$ 20,824,000
Non-marketable equity securities held in other financial institutions	53,870,000		55,190,000
Impairment recorded on investments in equity securities that do not have readily determinable fair values	0
Loan balance individually evaluated	14,731,000		5,011,000
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan balance individually evaluated	3,900,000		3,800,000
Foreclosed assets	3,900,000		3,900,000
Fair Value, Inputs, Level 3 \| Fair Value, Measurements, Nonrecurring \| Real estate \| Residential real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Residential mortgage loans in the process of foreclosure	$ 944,000		$ 0
Minimum \| Measurement Input, Credit Spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit spread, securities at fair value through income	0.83%		0.83%
Maximum \| Measurement Input, Credit Spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit spread, securities at fair value through income	2.27%		2.27%

Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Note 2 — Earnings Per Share

Basic and diluted earnings per common share are calculated using the treasury method. Under the treasury method, basic earnings per share is calculated as net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under the Company’s stock and incentive compensation plans. Information regarding the Company’s basic and diluted earnings per common share is presented in the following table:


(Dollars in thousands, except per share amounts)	Three Months Ended March 31,
Numerator:	2024		2023
Net income	$	22,632	$	24,302



Denominator:





Weighted average common shares outstanding	30,981,333		30,742,902
Dilutive effect of stock-based awards	97,577		139,254
Weighted average diluted common shares outstanding	31,078,910		30,882,156

Basic earnings per common share	$	0.73	$	0.79
Diluted earnings per common share	0.73		0.79

There were 429,589 and 220,980 shares of anti-dilutive stock-based awards excluded from the calculation of earnings per share for the three months ended March 31, 2024 and 2023, respectively, primarily due to the stock price of the stock awards exceeding the average market price of the Company’s stock during the respective periods.

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared (in dollars per share)	$ 0.15	$ 0.15

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,062,905	$ 949,943
Net change	(3,886)	21,394
Ending balance	1,078,853	992,587
Unrealized (Loss) Gain on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(121,646)	(160,700)
Net change	(3,962)	21,529
Ending balance	(125,608)	(139,171)
Unrealized Gain (Loss) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	623	825
Net change	76	(135)
Ending balance	699	690
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(121,023)	(159,875)
Net change	(3,886)	21,394
Ending balance	$ (124,909)	$ (138,481)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Capital and Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2024

Banking Regulation [Abstract]

Schedule of Actual Capital Amounts and Ratios

The actual capital amounts and ratios of the Company and the Bank at March 31, 2024, and December 31, 2023, are presented in the following table:


(Dollars in thousands) March 31, 2024	Actual				Minimum Capital Required - Basel III				To be Well Capitalized Under Prompt Corrective Action Provisions
Common Equity Tier 1 Capital to Risk-Weighted Assets	Amount		Ratio		Amount		Ratio		Amount		Ratio
Origin Bancorp, Inc.	$	1,034,347	11.97	%	$	604,669	7.00	%	N/A		N/A
Origin Bank	1,040,139		12.08		602,730		7.00		$	559,677	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,050,183		12.15		734,696		8.50		N/A		N/A
Origin Bank	1,040,139		12.08		731,886		8.50		688,834		8.00
Total Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,294,542		14.98		907,389		10.50		N/A		N/A
Origin Bank	1,209,498		14.05		903,968		10.50		860,922		10.00
Leverage Ratio
Origin Bancorp, Inc.	1,050,183		10.66		393,987		4.00		N/A		N/A
Origin Bank	1,040,139		10.60		392,550		4.00		490,687		5.00
December 31, 2023
Common Equity Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,012,916		11.83		599,455		7.00		N/A		N/A
Origin Bank	1,019,732		11.95		597,548		7.00		554,866		6.50
Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,028,729		12.01		727,907		8.50		N/A		N/A
Origin Bank	1,019,732		11.95		725,593		8.50		682,912		8.00
Total Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,286,604		15.02		899,184		10.50		N/A		N/A
Origin Bank	1,188,000		13.92		896,320		10.50		853,638		10.00
Leverage Ratio
Origin Bancorp, Inc.	1,028,729		10.50		391,822		4.00		N/A		N/A
Origin Bank	1,019,732		10.45		390,246		4.00		487,807		5.00

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Values of Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities held to maturity	$ 10,956	$ 10,848
Carrying Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	291,512	280,441
Carrying Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-marketable equity securities held in other financial institutions	53,870	55,190
Accrued interest and loan fees receivable	43,508	41,688
Deposits	8,505,464	8,251,125
FHLB advances and other borrowings	13,158	83,598
Subordinated indebtedness	160,684	194,279
Accrued interest payable	15,943	12,272
Carrying Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities held to maturity	11,651	11,615
LHFI, net	7,801,652	7,564,076
Estimated Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	291,512	280,441
Estimated Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-marketable equity securities held in other financial institutions	53,870	55,190
Accrued interest and loan fees receivable	43,508	41,688
Deposits	8,490,801	8,240,520
FHLB advances and other borrowings	12,685	83,187
Subordinated indebtedness	158,149	186,251
Accrued interest payable	15,943	12,272
Estimated Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities held to maturity	10,956	10,848
LHFI, net	$ 7,392,695	$ 7,177,720

Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 98,147,000	$ 127,278,000
Interest-bearing deposits in banks	193,365,000	153,163,000
Total cash and cash equivalents	291,512,000	280,441,000
Securities:
Available for sale	1,190,922,000	1,253,631,000
Held to maturity, net allowance for credit losses of $24 and $63 at March 31, 2024, and December 31, 2023, respectively (fair value of $10,956 and $10,848 at March 31, 2024, and December 31, 2023, respectively)	11,651,000	11,615,000
Securities carried at fair value through income	6,755,000	6,808,000
Total securities	1,209,328,000	1,272,054,000
Non-marketable equity securities held in other financial institutions	53,870,000	55,190,000
Loans held for sale at fair value	14,975,000	16,852,000
Loans, net of allowance for credit losses of $98,375 and $96,868 at March 31, 2024, and December 31, 2023, respectively	7,801,652,000	7,564,076,000
Premises and equipment, net	120,931,000	118,978,000
Mortgage servicing rights	0	15,637,000
Cash surrender value of bank-owned life insurance	40,134,000	39,905,000
Goodwill	128,679,000	128,679,000
Other intangible assets, net	43,314,000	45,452,000
Accrued interest receivable and other assets	187,984,000	185,320,000
Total assets	9,892,379,000	9,722,584,000
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	1,887,066,000	1,919,638,000
Interest-bearing deposits	4,990,632,000	4,918,597,000
Time deposits	1,627,766,000	1,412,890,000
Total deposits	8,505,464,000	8,251,125,000
Federal Home Loan Bank (“FHLB”) advances, repurchase obligations and other borrowings	13,158,000	83,598,000
Subordinated indebtedness, net	160,684,000	194,279,000
Accrued expenses and other liabilities	134,220,000	130,677,000
Total liabilities	8,813,526,000	8,659,679,000
Commitments and contingencies - See Note 12 — Commitments and Contingencies	0	0
Stockholders’ equity:
Common stock ($5.00 par value; 50,000,000 shares authorized; 31,011,304 and 30,986,109 shares issued at March 31, 2024, and December 31, 2023, respectively)	155,057,000	154,931,000
Additional paid‑in capital	530,380,000	528,578,000
Retained earnings	518,325,000	500,419,000
Accumulated other comprehensive loss	(124,909,000)	(121,023,000)
Total stockholders’ equity	1,078,853,000	1,062,905,000
Total liabilities and stockholders’ equity	$ 9,892,379,000	$ 9,722,584,000

Derivative Financial Instruments - Weighted-average Rates Paid and Received (Details) - Interest Rate Swaps	Mar. 31, 2024	Dec. 31, 2023
Cash flow hedges \| Paid
Derivative [Line Items]
Weighted-Average Interest Rate	4.24%	4.24%
Cash flow hedges \| Received
Derivative [Line Items]
Weighted-Average Interest Rate	8.34%	8.35%
Non-Hedging \| Non-hedging interest rate swaps - financial institution counterparties \| Paid
Derivative [Line Items]
Weighted-Average Interest Rate	4.90%	4.88%
Non-Hedging \| Non-hedging interest rate swaps - financial institution counterparties \| Received
Derivative [Line Items]
Weighted-Average Interest Rate	7.83%	7.82%
Non-Hedging \| Non-hedging interest rate swaps - customer counterparties \| Paid
Derivative [Line Items]
Weighted-Average Interest Rate	7.83%	7.82%
Non-Hedging \| Non-hedging interest rate swaps - customer counterparties \| Received
Derivative [Line Items]
Weighted-Average Interest Rate	4.90%	4.88%

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Interest and dividend income
Interest and fees on loans	$ 127,186	$ 106,496
Investment securities-taxable	6,849	8,161
Investment securities-nontaxable	910	1,410
Interest and dividend income on assets held in other financial institutions	3,756	4,074
Total interest and dividend income	138,701	120,141
Interest expense
Interest-bearing deposits	62,842	34,557
FHLB advances and other borrowings	518	5,880
Subordinated indebtedness	2,018	2,557
Total interest expense	65,378	42,994
Net interest income	73,323	77,147
Provision for credit losses	3,012	6,197
Net interest income after provision for credit losses	70,311	70,950
Noninterest income
Other fee income	2,247	1,974
Mortgage banking revenue	2,398	1,781
Swap fee income	57	384
(Loss) gain on sales of securities, net	(403)	144
Other income	543	519
Total noninterest income	17,255	16,384
Noninterest expense
Salaries and employee benefits	35,818	33,731
Occupancy and equipment, net	6,645	6,503
Data processing	3,145	2,916
Office and operations	2,502	2,303
Intangible asset amortization	2,137	2,553
Regulatory assessments	1,734	951
Advertising and marketing	1,444	1,456
Professional services	1,231	1,525
Loan-related expense	905	1,465
Electronic banking	1,239	1,009
Franchise tax expense	477	975
Other expense	1,430	1,373
Total noninterest expense	58,707	56,760
Income before income tax expense	28,859	30,574
Income tax expense	6,227	6,272
Net income	$ 22,632	$ 24,302
Basic earnings per common share (in dollars per share)	$ 0.73	$ 0.79
Diluted earnings per common share (in dollars per share)	$ 0.73	$ 0.79
Insurance commission and fee income
Noninterest income
Revenue from contracts with customers	$ 7,725	$ 7,011
Service charges and fees
Noninterest income
Revenue from contracts with customers	$ 4,688	$ 4,571

Loans - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 8,809	$ 14,880
% of Loans	0.11%	0.20%
Term Extension \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 1,497	$ 5,576
% of Loans	0.03%	0.11%
Term Extension \| Commercial and Industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 7,312	$ 9,304
% of Loans	0.34%	0.44%
Weighted average term extension (in months)	6 months	3 months 18 days
Term Extension \| Commercial real estate \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost		$ 2,230
% of Loans		0.09%
Weighted average term extension (in months)		4 months 3 days
Term Extension \| Construction/land/land development \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 1,462	$ 3,346
% of Loans	0.13%	0.35%
Weighted average term extension (in months)	3 months 27 days	4 months 24 days
Term Extension \| Residential real estate \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 35
% of Loans	0.00%
Weighted average term extension (in months)	6 months
Other-Than-Insignificant Payment Delay
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 35
% of Loans	0.00%
Other-Than-Insignificant Payment Delay \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0
% of Loans	0.00%
Other-Than-Insignificant Payment Delay \| Commercial and Industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 35
% of Loans	0.00%
Weighted average term extension (in months)	2 months
Other-Than-Insignificant Payment Delay \| Construction/land/land development \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0
% of Loans	0.00%
Other-Than-Insignificant Payment Delay \| Residential real estate \| Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0
% of Loans	0.00%

Capital and Regulatory Matters

3 Months Ended

Mar. 31, 2024

Banking Regulation [Abstract]

Capital and Regulatory Matters

Note 11 — Capital and Regulatory Matters

The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

The Company is subject to the Basel III regulatory capital framework (“Basel III Capital Rules”), which includes a 2.5% capital conservation buffer. The capital conservation buffer is designed to absorb losses during periods of economic stress and requires increased capital levels for the purpose of capital distributions and other payments. Failure to meet the full amount of the buffer will result in restrictions on the Company’s ability to make capital distributions, which include dividend payments, stock repurchases and to pay discretionary bonuses to executive officers.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total, common equity Tier 1 and Tier 1 capital to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average total consolidated assets (as defined). Management believes, at March 31, 2024, and December 31, 2023, that the Company and the Bank met all capital adequacy requirements to which they are subject, including the capital buffer requirement.

At March 31, 2024, and December 31, 2023, the Bank’s capital ratios exceeded those levels necessary to be categorized as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” the Bank must maintain minimum total risk-based, common equity Tier 1 risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. A final rule adopted by the federal banking agencies in February 2019 provides banking organizations with the option to phase in, over a three-year period, the adverse day-one regulatory capital effects of the adoption of CECL. In addition, on March 27, 2020, the federal banking agencies issued an interim final rule that gives banking organizations that were required to implement CECL before the end of 2020 the option to delay for two years CECL’s adverse effects on regulatory capital. The Bank elected to adopt CECL in the first quarter of 2020 and exercised the option to delay the estimated impact of the adoption of CECL on the Company’s regulatory capital for two years (from January 2020 through December 31, 2021). The two-year delay is followed by a three-year transition period of CECL’s initial impact on the Company’s regulatory capital (from January 1, 2022, through December 31, 2024). The amount representing the CECL impact to the Company’s regulatory capital that will be ratably transitioning back into regulatory capital over the transition period is $1.9 million and $2.5 million at March 31, 2024, and December 31, 2023, respectively.

The actual capital amounts and ratios of the Company and the Bank at March 31, 2024, and December 31, 2023, are presented in the following table:


(Dollars in thousands) March 31, 2024	Actual				Minimum Capital Required - Basel III				To be Well Capitalized Under Prompt Corrective Action Provisions
Common Equity Tier 1 Capital to Risk-Weighted Assets	Amount		Ratio		Amount		Ratio		Amount		Ratio
Origin Bancorp, Inc.	$	1,034,347	11.97	%	$	604,669	7.00	%	N/A		N/A
Origin Bank	1,040,139		12.08		602,730		7.00		$	559,677	6.50	%
Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,050,183		12.15		734,696		8.50		N/A		N/A
Origin Bank	1,040,139		12.08		731,886		8.50		688,834		8.00
Total Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,294,542		14.98		907,389		10.50		N/A		N/A
Origin Bank	1,209,498		14.05		903,968		10.50		860,922		10.00
Leverage Ratio
Origin Bancorp, Inc.	1,050,183		10.66		393,987		4.00		N/A		N/A
Origin Bank	1,040,139		10.60		392,550		4.00		490,687		5.00
December 31, 2023
Common Equity Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,012,916		11.83		599,455		7.00		N/A		N/A
Origin Bank	1,019,732		11.95		597,548		7.00		554,866		6.50
Tier 1 Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,028,729		12.01		727,907		8.50		N/A		N/A
Origin Bank	1,019,732		11.95		725,593		8.50		682,912		8.00
Total Capital to Risk-Weighted Assets
Origin Bancorp, Inc.	1,286,604		15.02		899,184		10.50		N/A		N/A
Origin Bank	1,188,000		13.92		896,320		10.50		853,638		10.00
Leverage Ratio
Origin Bancorp, Inc.	1,028,729		10.50		391,822		4.00		N/A		N/A
Origin Bank	1,019,732		10.45		390,246		4.00		487,807		5.00

In the ordinary course of business, the Company depends on dividends from the Bank to provide funds for the payment of dividends to stockholders and to provide for other cash requirements. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared and paid exceed the Bank’s year-to-date net income combined with the retained net income for the preceding year, which was $50.5 million at March 31, 2024.

Stock Repurchases

In July 2022, the Board of Directors of the Company authorized a stock repurchase program pursuant to which the Company may, from time to time, purchase up to $50 million of its outstanding common stock. The shares may be repurchased in the open market or in privately negotiated transactions from time to time, depending upon market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission. The stock repurchase program is intended to expire in three years but may be terminated or amended by the Board of Directors at any time. The stock repurchase program does not obligate the Company to purchase any shares at any time.

There have been no stock repurchases during the three months ended March 31, 2024 or 2023.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Capital and Regulatory Matters - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Resale Agreement Counterparty [Line Items]
Transition regulatory capital amount		$ 1,900,000		$ 2,500,000
Purchase price	$ 50,000,000
Stock buyback program, period	3 years
Repurchase of stock (in shares)		0	0
Origin Bank \| Origin Bank
Resale Agreement Counterparty [Line Items]
Aggregate dividends without prior regulatory approval		$ 50,500,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Loans - Payment Status (Amortized Cost Basis) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Current
Financing Receivable, Past Due [Line Items]
Total LHFI	$ 20,285
30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	207
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	1,130
Real estate \| Current
Financing Receivable, Past Due [Line Items]
Total LHFI	4,774
Real estate \| 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	117
Real estate \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	499
Real estate \| Commercial real estate \| Current
Financing Receivable, Past Due [Line Items]
Total LHFI	1,198
Real estate \| Commercial real estate \| 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	0
Real estate \| Commercial real estate \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	168
Real estate \| Construction/land/land development \| Current
Financing Receivable, Past Due [Line Items]
Total LHFI	1,570
Real estate \| Construction/land/land development \| 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	0
Real estate \| Construction/land/land development \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	96
Real estate \| Residential real estate \| Current
Financing Receivable, Past Due [Line Items]
Total LHFI	2,006
Real estate \| Residential real estate \| 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	117
Real estate \| Residential real estate \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	235
Commercial and Industrial \| Current
Financing Receivable, Past Due [Line Items]
Total LHFI	15,511
Commercial and Industrial \| 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	90
Commercial and Industrial \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total LHFI	$ 631

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Note 1 — Significant Accounting Policies Nature of Operations. Origin Bancorp, Inc. (“Company” or ”Origin”) is a financial holding company headquartered in Ruston, Louisiana. The Company’s wholly-owned bank subsidiary, Origin Bank (“Bank”), was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized, relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently has over 60 locations from Dallas/Fort Worth, East Texas and Houston, across North Louisiana and into Mississippi. Locations in South Alabama and the Florida panhandle are planned for 2024. The Company principally operates in one business segment, community banking. Basis of Presentation. The consolidated financial statements in this quarterly report on Form 10-Q include the accounts of the Company and all other entities in which Origin Bancorp, Inc. has a controlling financial interest, including the Bank and Forth Insurance, LLC. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s accounting and financial reporting policies conform, in all material respects, to generally accepted accounting principles in the United States (“U.S. GAAP”) and to general practices within the financial services industry. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated financial statements in this quarterly report on Form 10-Q have not been audited by an independent registered public accounting firm, excluding the figures as of December 31, 2023, but in the opinion of management, reflect all adjustments (which are of a normal recurring nature) necessary for a fair presentation of the Company’s financial position and results of operations for the periods presented. These consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2023, included in the Company’s annual report on Form 10-K (“2023 Form 10-K”) filed with the SEC. Operating results for the interim periods disclosed herein are not necessarily indicative of results that may be expected for a full year. Certain prior period amounts have been reclassified to conform to the current year financial statement presentations. These reclassifications did not impact previously reported net income or comprehensive income (loss). Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions based on available information that affect the amounts reported in the financial statements and disclosures provided, including the accompanying notes, and actual results could differ. Material estimates that are particularly susceptible to change include the allowance for credit losses for loans, off-balance sheet commitments and available for sale securities; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the Company’s consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual results could differ from those estimates. Reclassifications. Certain amounts previously reported have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior year net income or stockholders’ equity. Investments in Tax Credit Entities. As part of its Community Reinvestment Act responsibilities and due to their favorable economic characteristics, the Company invests in tax credit-motivated projects primarily in the markets it serves. These projects are directed at tax credits issued under Low-Income Housing Tax Credits (“LIHTC”). The Company generates returns on tax credit motivated projects through the receipt of federal, and if applicable, state tax credits. The federal tax credits are recorded as an offset to the income tax provision in the year that they are earned under federal income tax law over 10 to 15 years beginning in the year in which rental activity commences. These credits, if not used in the tax return for the year of origination, can be carried forward for 20 years. The Company invests in a tax credit entity, usually an LLC, which owns the real estate. The Company receives a nonvoting interest in the entity that must be retained during the compliance period for the credits (15 years for Low-Income Housing Tax Credit programs). Control of the tax credit entity rests in the 0.1% interest general partner, who has the power and authority to make decisions that impact economic performance of the project and is required to oversee and manage the project. Due to the lack of any voting, economic, or managerial control, and due to the contractual reduction in the investment, the Company accounts for its investment by amortizing the investment, beginning at the issuance of the certificate of occupancy of the project, over the compliance period, as management believes any potential residual value in the real estate will have limited value. Amortization is included as a component of income tax expense and for the three months ended March 31, 2024 and 2023, was $415,000 and $453,000, respectively. The income tax credits and other income tax benefits recognized for the three months ended March 31, 2024 and 2023, was $504,000 and $569,000, respectively, and was included as a component of income tax expense on the Consolidated Statements of Income. The Company has the risk of credit recapture if the projects do not maintain compliance during the compliance period. No such events have occurred to date. At March 31, 2024 and 2023, the Company had investments in tax credit entities of $7.2 million and $9.0 million, respectively, which are included in accrued interest receivable and other assets in the accompanying Consolidated Balance Sheets. Effect of Recently Adopted Accounting Standards ASU No. 2021-08, Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this Update affect accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-01, Derivatives and Hedging (Topic 815) — Fair Value Hedging - Portfolio Layer Method. The amendments in this Update clarify the accounting for and promote consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. Additionally, this Update allows entities to elect to apply the portfolio layer method of hedge accounting in accordance with Topic 815. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326) — Troubled Debt Restructurings and Vintage Disclosures. The amendments in this Update eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. For public business entities, the amendments in this Update require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-06, Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 — The amendments in this Update provide temporary relief during the transition period in complying with Update No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The Board included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. At the time that Update 2020-04 was issued, the UK Financial Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022 - 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of the overnight 1-, 3-, 6-, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset date of Topic 848. Because the relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The ASU is effective immediately. Implementation of this ASU did not materially impact the Company's financial statements or disclosures. ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method — The amendments in this Update allow entities to elect to account for equity investments made primarily for the purpose of receiving income tax credits using the proportional amortization method, regardless of the tax credit program through which the investment earns income tax credits, if certain conditions are met. The amendments in this Update also eliminate certain low income housing tax credits (“LIHTC”)-specific guidance to align the accounting more closely for LIHTCs with the accounting for other equity investments in tax credit structures and require that the delayed equity contribution guidance apply only to tax equity investments accounted for using the proportional amortization method. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company's financial statements or disclosures. Effect of Newly Issued But Not Yet Effective Accounting Standards ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures — The amendments in this Update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this Update: 1.Require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”). 2.Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss. 3.Require that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods. 4.Clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s consolidated financial statements. In other words, in addition to the measure that is most consistent with the measurement principles under generally accepted accounting principles (GAAP), a public entity is not precluded from reporting additional measures of a segment’s profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. 5.Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. 6.Require that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this Update and all existing segment disclosures in Topic 280. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application to all periods presented in the financial statements is required. The Company is evaluating the impact of this ASU on its consolidated financial statements and disclosures. ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures — The amendments in this Update, on an annual basis, require that public business entities (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Specifically, public business entities are required to disclose a tabular reconciliation, using both percentages and reporting currency amounts, for specific listed categories. The ASU is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The Company is evaluating the impact of this ASU on its consolidated financial statements and disclosures.

Mortgage Banking (Tables)

3 Months Ended

Mar. 31, 2024

Mortgage Banking [Abstract]

Schedule of Mortgage Banking Operations

The following table presents the Company’s revenue from mortgage banking operations:


(Dollars in thousands)	Three Months Ended March 31,
Mortgage banking revenue	2024		2023
Origination	$	108	$	111
Gain on sale of loans held for sale	964		609
Originations of MSRs	—		149
Servicing	654		989
Total gross mortgage revenue	1,726		1,858
MSR valuation adjustments, net	450		(906)
Gain on sale of MSR	410		—
Mortgage HFS and pipeline fair value adjustment	291		440
MSR hedge impact	(479)		389
Mortgage banking revenue	$	2,398	$	1,781

Schedule of Activity in Mortgages Servicing Rights (MSRs)

Activity in MSRs was as follows:


	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Balance at beginning of period	$	15,637	$	20,824

Addition of servicing rights	—		149
Settlement of sale of MSR	(16,087)		(1,806)
Valuation adjustment, net of amortization	450		(906)
Balance at end of period	$	—	$	18,261

Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Note 10 — Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive (loss) income (“AOCI”) includes the after-tax change in unrealized gains and losses on AFS securities and cash flow hedging activities.


(Dollars in thousands)	Unrealized (Loss) Gain on AFS Securities		Unrealized Gain (Loss) on Cash Flow Hedges		Accumulated Other Comprehensive (Loss) Income





Balance at January 1, 2024	$	(121,646)	$	623	$	(121,023)
Net change	(3,962)		76		(3,886)
Balance at March 31, 2024	$	(125,608)	$	699	$	(124,909)

Balance at January 1, 2023	$	(160,700)	$	825	$	(159,875)
Net change	21,529		(135)		21,394
Balance at March 31, 2023	$	(139,171)	$	690	$	(138,481)

Securities - Amortized Cost and Estimated Fair Value of Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Available for sale:
Available for sale, amortized cost	$ 1,349,979	$ 1,407,675
Available for sale, gross unrealized gains	404	297
Available for sale, gross unrealized losses	(159,461)	(154,341)
Available for sale, fair value	1,190,922	1,253,631
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	1,190,922	1,253,631
Held to maturity:
Held to maturity, amortized cost	11,675
Held to maturity, fair value	10,956	10,848
Held to maturity, allowance for credit losses	(24)	(63)	$ (981)	$ (899)
Held to maturity, net carrying amount	11,651	11,615
Securities carried at fair value through income:
Securities carried at fair value through income, fair value	6,755	6,808
State and municipal securities
Available for sale:
Available for sale, amortized cost	320,999	323,356
Available for sale, gross unrealized gains	213	210
Available for sale, gross unrealized losses	(43,615)	(41,440)
Available for sale, fair value	277,597	282,126
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	277,597	282,126
Held to maturity:
Held to maturity, amortized cost	11,675	11,678
Held to maturity, gross unrealized gains	0	0
Held to maturity, gross unrealized losses	(719)	(830)
Held to maturity, fair value	10,956	10,848
Held to maturity, allowance for credit losses	(24)	(63)
Held to maturity, net carrying amount	11,651	11,615
Securities carried at fair value through income:
Securities carried at fair value through income, amortized cost	6,815	6,815
Securities carried at fair value through income, fair value	6,755	6,808
Securities carried at fair value through income, net carrying amount	6,755	6,808
Corporate bonds
Available for sale:
Available for sale, amortized cost	91,251	92,244
Available for sale, gross unrealized gains	166	80
Available for sale, gross unrealized losses	(8,170)	(8,689)
Available for sale, fair value	83,247	83,635
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	83,247	83,635
U.S. treasury and government agency securities
Available for sale:
Available for sale, amortized cost	67,172	84,377
Available for sale, gross unrealized gains	2	3
Available for sale, gross unrealized losses	(4,736)	(4,740)
Available for sale, fair value	62,438	79,640
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	62,438	79,640
Commercial mortgage-backed securities
Available for sale:
Available for sale, amortized cost	104,150	104,459
Available for sale, gross unrealized gains	0	0
Available for sale, gross unrealized losses	(11,410)	(11,063)
Available for sale, fair value	92,740	93,396
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	92,740	93,396
Residential mortgage-backed securities
Available for sale:
Available for sale, amortized cost	552,647	569,622
Available for sale, gross unrealized gains	0	0
Available for sale, gross unrealized losses	(66,024)	(63,120)
Available for sale, fair value	486,623	506,502
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	486,623	506,502
Commercial collateralized mortgage obligations
Available for sale:
Available for sale, amortized cost	45,874	39,386
Available for sale, gross unrealized gains	0	0
Available for sale, gross unrealized losses	(4,448)	(4,203)
Available for sale, fair value	41,426	35,183
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	41,426	35,183
Residential collateralized mortgage obligations
Available for sale:
Available for sale, amortized cost	147,310	150,710
Available for sale, gross unrealized gains	0	0
Available for sale, gross unrealized losses	(20,977)	(20,566)
Available for sale, fair value	126,333	130,144
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	126,333	130,144
Asset-backed securities
Available for sale:
Available for sale, amortized cost	20,576	43,521
Available for sale, gross unrealized gains	23	4
Available for sale, gross unrealized losses	(81)	(520)
Available for sale, fair value	20,518	43,005
Available for sale, allowance for credit losses	0	0
Available-for-sale, net carrying amount	$ 20,518	$ 43,005

Mortgage Banking - Activity in Mortgage Servicing Rights (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance at beginning of period	$ 15,637,000	$ 20,824,000
Addition of servicing rights	0	149,000
Settlement of sale of MSR	(16,087,000)	(1,806,000)
Valuation adjustment, net of amortization	450,000	(906,000)
Balance at end of period	$ 0	$ 18,261,000

Stock and Incentive Compensation Plans - Compensation Expense (Details) - Employee Stock - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP shares purchased (in shares)	0	0
Shares available for issuance (in shares)	927,698	973,911

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Securities - Unrealized Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value
Less than 12 Months	$ 36,503	$ 38,770
12 Months or More	1,131,136	1,195,131
Total	1,167,639	1,233,901
Unrealized Loss
Less than 12 Months	(524)	(376)
12 Months or More	(158,937)	(153,965)
Total	(159,461)	(154,341)
State and municipal securities
Fair Value
Less than 12 Months	25,235	27,106
12 Months or More	246,037	246,442
Total	271,272	273,548
Unrealized Loss
Less than 12 Months	(258)	(266)
12 Months or More	(43,357)	(41,174)
Total	(43,615)	(41,440)
Fair Value
Less than 12 Months	4,833	4,717
12 Months or More	6,123	6,131
Total	10,956	10,848
Unrealized Loss
Less than 12 Months	(328)	(447)
12 Months or More	(391)	(383)
Total	(719)	(830)
Corporate bonds
Fair Value
Less than 12 Months	800	4,254
12 Months or More	73,213	74,566
Total	74,013	78,820
Unrealized Loss
Less than 12 Months	(200)	(53)
12 Months or More	(7,970)	(8,636)
Total	(8,170)	(8,689)
U.S. treasury and government agency securities
Fair Value
Less than 12 Months	0	0
12 Months or More	58,922	77,340
Total	58,922	77,340
Unrealized Loss
Less than 12 Months	0	0
12 Months or More	(4,736)	(4,740)
Total	(4,736)	(4,740)
Commercial mortgage-backed securities
Fair Value
Less than 12 Months	0	0
12 Months or More	92,740	93,396
Total	92,740	93,396
Unrealized Loss
Less than 12 Months	0	0
12 Months or More	(11,410)	(11,063)
Total	(11,410)	(11,063)
Residential mortgage-backed securities
Fair Value
Less than 12 Months	0	60
12 Months or More	486,623	506,442
Total	486,623	506,502
Unrealized Loss
Less than 12 Months	0	(5)
12 Months or More	(66,024)	(63,115)
Total	(66,024)	(63,120)
Commercial collateralized mortgage obligations
Fair Value
Less than 12 Months	6,627	0
12 Months or More	34,799	35,183
Total	41,426	35,183
Unrealized Loss
Less than 12 Months	(64)	0
12 Months or More	(4,384)	(4,203)
Total	(4,448)	(4,203)
Residential collateralized mortgage obligations
Fair Value
Less than 12 Months	0	0
12 Months or More	126,333	130,144
Total	126,333	130,144
Unrealized Loss
Less than 12 Months	0	0
12 Months or More	(20,977)	(20,566)
Total	(20,977)	(20,566)
Asset-backed securities
Fair Value
Less than 12 Months	3,841	7,350
12 Months or More	12,469	31,618
Total	16,310	38,968
Unrealized Loss
Less than 12 Months	(2)	(52)
12 Months or More	(79)	(468)
Total	$ (81)	$ (520)

Accumulated Other Comprehensive (Loss) Income (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive (loss) income (“AOCI”) includes the after-tax change in unrealized gains and losses on AFS securities and cash flow hedging activities.


(Dollars in thousands)	Unrealized (Loss) Gain on AFS Securities		Unrealized Gain (Loss) on Cash Flow Hedges		Accumulated Other Comprehensive (Loss) Income





Balance at January 1, 2024	$	(121,646)	$	623	$	(121,023)
Net change	(3,962)		76		(3,886)
Balance at March 31, 2024	$	(125,608)	$	699	$	(124,909)

Balance at January 1, 2023	$	(160,700)	$	825	$	(159,875)
Net change	21,529		(135)		21,394
Balance at March 31, 2023	$	(139,171)	$	690	$	(138,481)

Commitments and Contingencies - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($) letter_of_credit	Dec. 31, 2023 USD ($) letter_of_credit
Lending-related Commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Reserve for lending related commitments	$ 3.6	$ 4.7
Letter of credit \| FHLB
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Number of instruments \| letter_of_credit	37	31
Maximum borrowing capacity	$ 745.0	$ 693.6

Loans (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Loans

Loans consist of the following:



(Dollars in thousands)	March 31, 2024		December 31, 2023
Loans held for sale	$	14,975	$	16,852
LHFI:
Loans secured by real estate:


Commercial real estate(1)	$	2,420,788	$	2,442,734
Construction/land/land development	1,168,597		1,070,225
Residential real estate	1,733,297		1,734,935
Total real estate	5,322,682		5,247,894
Commercial and industrial	2,154,151		2,059,460
Mortgage warehouse lines of credit	400,995		329,966
Consumer	22,199		23,624
Total LHFI(2)	7,900,027		7,660,944
Less: Allowance for loan credit losses (“ALCL”)	98,375		96,868
LHFI, net	$	7,801,652	$	7,564,076

____________________________

(1)Includes owner occupied commercial real estate of $948.6 million and $953.8 million at March 31, 2024, and December 31, 2023, respectively.

Schedule of Recorded Investment in Loans by Credit Quality Indicator


	Term Loans
	Amortized Cost Basis by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate:
Pass	$	53,920	$	339,064	$	879,163	$	471,291	$	238,129	$	342,477	$	75,186	$	2,399,230
Special mention	—		—		—		—		—		7,902		—		7,902
Classified	735		732		3,453		3,661		1,939		2,866		270		13,656

Total commercial real estate loans	$	54,655	$	339,796	$	882,616	$	474,952	$	240,068	$	353,245	$	75,456	$	2,420,788
Year-to-date gross charge-offs	$	—	$	11	$	193	$	—	$	251	$	—	$	—	$	455



Construction/land/land development:
Pass	$	33,939	$	309,113	$	485,551	$	212,239	$	20,392	$	28,738	$	45,460	$	1,135,432
Special mention	—		746		10,432		19,646		263		—		—		31,087
Classified	126		186		228		119		232		1,187		—		2,078

Total construction/land/land development loans	$	34,065	$	310,045	$	496,211	$	232,004	$	20,887	$	29,925	$	45,460	$	1,168,597
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Residential real estate:
Pass	$	27,372	$	327,421	$	533,926	$	285,239	$	233,821	$	218,562	$	91,462	$	1,717,803
Special mention	—		—		—		—		136		—		—		136
Classified	867		1,944		2,433		2,962		1,193		5,553		406		15,358

Total residential real estate loans	$	28,239	$	329,365	$	536,359	$	288,201	$	235,150	$	224,115	$	91,868	$	1,733,297
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Commercial and industrial:
Pass	$	128,195	$	370,024	$	237,053	$	142,170	$	31,382	$	74,763	$	1,110,563	$	2,094,150
Special mention	—		477		6,052		—		—		—		451		6,980
Classified	1,919		2,921		1,827		9,619		782		712		35,241		53,021

Total commercial and industrial loans	$	130,114	$	373,422	$	244,932	$	151,789	$	32,164	$	75,475	$	1,146,255	$	2,154,151
Year-to-date gross charge-offs	$	—	$	536	$	316	$	79	$	162	$	154	$	4,934	$	6,181



Mortgage Warehouse Lines of Credit:




Total mortgage warehouse lines of credit	$	—	$	—	$	—	$	—	$	—	$	—	$	400,995	$	400,995
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Consumer:
Pass	$	2,424	$	8,578	$	2,783	$	830	$	309	$	416	$	6,755	$	22,095

Classified	—		32		51		8		—		—		13		104

Total consumer loans	$	2,424	$	8,610	$	2,834	$	838	$	309	$	416	$	6,768	$	22,199
Year-to-date gross charge-offs	$	—	$	—	$	10	$	3	$	—	$	—	$	34	$	47


	Term Loans
	Amortized Cost Basis by Origination Year
(Dollars in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate:
Pass	$	333,887	$	885,234	$	470,252	$	253,700	$	204,421	$	188,532	$	77,993	$	2,414,019
Special mention	—		—		308		—		—		7,950		—		8,258
Classified	726		4,285		3,212		1,765		524		9,945		—		20,457

Total commercial real estate loans	$	334,613	$	889,519	$	473,772	$	255,465	$	204,945	$	206,427	$	77,993	$	2,442,734
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	42	$	—	$	42



Construction/land/land development:
Pass	$	259,502	$	461,373	$	214,526	$	21,309	$	7,221	$	25,460	$	42,700	$	1,032,091
Special mention	746		10,462		19,811		—		—		—		—		31,019
Classified	191		3,132		41		240		662		560		2,289		7,115

Total construction/land/land development loans	$	260,439	$	474,967	$	234,378	$	21,549	$	7,883	$	26,020	$	44,989	$	1,070,225
Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



Residential real estate:
Pass	$	332,874	$	549,504	$	289,289	$	237,813	$	79,499	$	142,265	$	91,972	$	1,723,216
Special mention	250		—		—		141		—		—		—		391
Classified	689		1,985		1,439		407		1,367		4,949		492		11,328

Total residential real estate loans	$	333,813	$	551,489	$	290,728	$	238,361	$	80,866	$	147,214	$	92,464	$	1,734,935
Year-to-date gross charge-offs	$	—	$	—	$	—	$	5	$	—	$	22	$	—	$	27



Commercial and industrial:
Pass	$	399,485	$	272,152	$	160,636	$	36,995	$	57,562	$	48,523	$	1,035,021	$	2,010,374
Special mention	498		6,383		—		—		—		—		650		7,531
Classified	3,583		1,676		12,908		371		470		222		22,325		41,555

Total commercial and industrial loans	$	403,566	$	280,211	$	173,544	$	37,366	$	58,032	$	48,745	$	1,057,996	$	2,059,460
Year-to-date gross charge-offs	$	203	$	328	$	233	$	141	$	539	$	679	$	9,710	$	11,833



Mortgage Warehouse Lines of Credit:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	329,966	$	329,966



Year-to-date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—




Consumer:
Pass	$	11,053	$	3,567	$	1,040	$	399	$	470	$	17	$	6,988	$	23,534

Classified	35		42		10		—		2		—		1		90

Total consumer loans	$	11,088	$	3,609	$	1,050	$	399	$	472	$	17	$	6,989	$	23,624
Year-to-date gross charge-offs	$	3	$	102	$	7	$	—	$	—	$	2	$	33	$	147

Schedule of Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis at the dates indicated:


	March 31, 2024
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Loans Past Due 90 Days or More		Total Past Due		Current Loans		Total Loans Receivable		Accruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate	$	2,477	$	307	$	579	$	3,363	$	2,417,425	$	2,420,788	$	—
Construction/land/land development	132		—		123		255		1,168,342		1,168,597		—
Residential real estate	7,192		679		5,424		13,295		1,720,002		1,733,297		—
Total real estate	9,801		986		6,126		16,913		5,305,769		5,322,682		—
Commercial and industrial	1,044		10,331		4,330		15,705		2,138,446		2,154,151		—
Mortgage warehouse lines of credit	—		—		—		—		400,995		400,995		—
Consumer	199		13		5		217		21,982		22,199		—
Total LHFI	$	11,044	$	11,330	$	10,461	$	32,835	$	7,867,192	$	7,900,027	$	—


	December 31, 2023
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Loans Past Due 90 Days or More		Total Past Due		Current Loans		Total Loans Receivable		Accruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate	$	2,264	$	—	$	—	$	2,264	$	2,440,470	$	2,442,734	$	—
Construction/land/land development	834		27		13		874		1,069,351		1,070,225		—
Residential real estate	8,055		1,326		5,960		15,341		1,719,594		1,734,935		—
Total real estate	11,153		1,353		5,973		18,479		5,229,415		5,247,894		—
Commercial and industrial	1,221		713		5,417		7,351		2,052,109		2,059,460		—
Mortgage warehouse lines of credit	—		—		—		—		329,966		329,966		—
Consumer	200		10		3		213		23,411		23,624		—
Total LHFI	$	12,574	$	2,076	$	11,393	$	26,043	$	7,634,901	$	7,660,944	$	—

Schedule of Allowance for Loan Losses by Portfolio Segment


	Three Months Ended March 31, 2024
	Commercial Real Estate			Construction/ Land/ Land Development			Residential Real Estate			Commercial and Industrial			Mortgage Warehouse Lines of Credit			Consumer			Total

	(Dollars in thousands)
Beginning balance	$	19,625		$	9,990		$	10,619		$	55,330		$	529		$	775		$	96,868
Charge-offs	455			—			—			6,181			—			47			6,683
Recoveries	30			—			4			4,064			—			3			4,101
Provision(1)	(1,656)			(11)			11			5,610			132			3			4,089

Ending balance	$	17,544		$	9,979		$	10,634		$	58,823		$	661		$	734		$	98,375
Average balance	$	2,438,476		$	1,130,355		$	1,739,105		$	2,121,502		$	306,248		$	23,319		$	7,759,005



Net charge-offs to loan average balance (annualized)	0.07		%	—		%	—		%	0.40		%	—		%	0.76		%	0.13		%

_________________________ (1)The $3.0 million provision for credit losses on the consolidated statement of income includes a $4.1 million provision for loan losses, a $1.0 million and $39,000 net benefit provision for off-balance sheet commitments and credit losses on held to maturity securities for the three months ended March 31, 2024.


	Three Months Ended March 31, 2023
	Commercial Real Estate			Construction/ Land/ Land Development			Residential Real Estate			Commercial and Industrial			Mortgage Warehouse Lines of Credit			Consumer			Total

	(Dollars in thousands)
Beginning balance	$	19,772		$	7,776		$	8,230		$	50,148		$	379		$	856		$	87,161

Charge-offs	42			—			—			2,169			—			82			2,293
Recoveries	60			—			5			912			—			5			982
Provision(1)	891			289			285			4,466			186			41			6,158
Ending balance	$	20,681		$	8,065		$	8,520		$	53,357		$	565		$	820		$	92,008
Average balance	$	2,342,545		$	974,914		$	1,519,325		$	2,070,356		$	213,201		$	26,017		$	7,146,358

Net charge-offs to loan average balance (annualized)	—		%	—		%	—		%	0.25		%	—		%	1.20		%	0.07		%


_________________________ (1)The $6.2 million provision for credit losses on the consolidated statements of income includes a $6.2 million provision for loan losses, a $43,000 benefit for off-balance sheet commitments and an $82,000 provision for held to maturity securities credit losses for the three months ended March 31, 2023.

Schedule of Amortized Cost Basis of Collateral Dependent Loans


	March 31, 2024
(Dollars in thousands)	Commercial Real Estate		Construction/ Land/ Land Development		Residential Real Estate		Commercial and Industrial		Mortgage Warehouse Lines of Credit		Consumer		Total
Real Estate	$	2,358	$	83	$	11,796	$	—	$	—	$	—	$	14,237

Equipment	—		—		—		69		—		—		69
Other	—		—		—		425		—		—		425
Total	$	2,358	$	83	$	11,796	$	494	$	—	$	—	$	14,731
ALCL Allocation	$	—	$	—	$	122	$	—	$	—	$	—	$	122


	December 31, 2023
(Dollars in thousands)	Commercial Real Estate		Construction/ Land/ Land Development		Residential Real Estate		Commercial and Industrial		Mortgage Warehouse Lines of Credit		Consumer		Total
Real Estate	$	605	$	—	$	4,029	$	—	$	—	$	—	$	4,634
Equipment	—		—		—		119		—		—		119
Other	—		—		—		258		—		—		258

Total	$	605	$	—	$	4,029	$	377	$	—	$	—	$	5,011
ALCL Allocation	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Schedule of Non-performing (Nonaccrual) Loans Held for Investment

Nonaccrual LHFI was as follows:



	Nonaccrual With No Allowance for Credit Loss				Total Nonaccrual
(Dollars in thousands) Loans secured by real estate:	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Commercial real estate	$	3,006	$	746	$	4,474	$	786
Construction/land/land development	179		96		383		305
Residential real estate	12,489		5,695		14,918		13,037
Total real estate	15,674		6,537		19,775		14,128
Commercial and industrial	5,005		4,706		20,560		15,897
Mortgage warehouse lines of credit	—		—		—		—
Consumer	—		—		104		90
Total nonaccrual loans	$	20,679	$	11,243	$	40,439	$	30,115

Schedule of Loans Classified as Troubled Debt Restructurings (TDRs)

The tables below summarize modifications made to borrowers experiencing financial difficulty by loan and modification type during the three months ended March 31, 2024 and 2023.



		Amortized Cost Basis at March 31, 2024
	Term Extension					Other-Than-Insignificant Payment Delay
(Dollars in thousands)		Amortized Cost		% of Loans			Amortized Cost		% of Loans
Loans secured by real estate:

Construction/land/land development		$	1,462	0.13	%		$	—	—	%
Residential real estate		35		—			—		—
Total real estate		1,497		0.03			—		—
Commercial and industrial		7,312		0.34			35		—


Total		$	8,809	0.11			$	35	—



		Amortized Cost Basis at March 31, 2023
	Term Extension
(Dollars in thousands)		Amortized Cost		% of Loans
Loans secured by real estate:
Commercial real estate		$	2,230	0.09	%
Construction/land/land development		3,346		0.35

Total real estate		5,576		0.11
Commercial and industrial		9,304		0.44


Total		$	14,880	0.20

The following tables describe the financial effect of the modification made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023.

Three Months Ended March 31, 2024

Term Extension

Other-Than-Insignificant Payment Delay

Construction/land/land development

Added a weighted average 3.9 months to the life of the modified loans

N/A

Residential real estate

Added a weighted average 6.0 months to the life of the modified loans

N/A

Commercial and industrial

Added a weighted average 6.0 months to the life of the modified loans

Delayed payment of weighted average 2.0 months

Three Months Ended March 31, 2023

Term Extension

Commercial real estate

Added a weighted average 4.1 months to the life of the modified loans

Construction/land/land development

Added a weighted average 4.8 months to the life of the modified loans

Commercial and industrial

Added a weighted average 3.6 months to the life of the modified loans

The following table depicts the performance of loans that have been modified during the last twelve months ended March 31, 2024.



	Payment Status (Amortized Cost Basis)
	March 31, 2024
(Dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due
Loans secured by real estate:
Commercial real estate	$	1,198	$	—	$	168
Construction/land/land development	1,570		—		96
Residential real estate	2,006		117		235
Total real estate	4,774		117		499
Commercial and industrial	15,511		90		631


Total LHFI	$	20,285	$	207	$	1,130

Stock and Incentive Compensation Plans - Share-based Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 2,079	$ 1,391
Related tax benefits recognized in net income	437	292
RSA & RSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	1,058	1,022
PSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	915	293
ESPP
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 106	$ 76

Derivative Financial Instruments - Fair Value of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional amounts	$ 765,314	$ 780,152
Fair Values	822	1,401
Interest Rate Swaps \| Derivatives Not Designated as Hedging Instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Notional amounts	367,272	363,498
Fair Values	21,326	18,567
Interest Rate Swaps \| Derivatives Not Designated as Hedging Instruments \| Other Liabilities
Derivatives, Fair Value [Line Items]
Notional amounts	360,457	356,683
Fair Values	(21,013)	(18,298)
Risk participation agreements included in other liabilities \| Derivatives Not Designated as Hedging Instruments \| Other Liabilities
Derivatives, Fair Value [Line Items]
Notional amounts	20,000	20,000
Fair Values	0	(2)
Forward commitments to purchase forward-settling mortgage-backed securities included in other assets \| Derivatives Not Designated as Hedging Instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Notional amounts	0	9,000
Fair Values	0	91
Forward commitments to purchase treasury notes in other assets \| Derivatives Not Designated as Hedging Instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Notional amounts	0	22,500
Fair Values	0	822
Interest rate-lock commitments on residential mortgage loans included in other assets \| Derivatives Not Designated as Hedging Instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Notional amounts	17,585	8,471
Fair Values	509	221
Cash Flow Hedging \| Interest Rate Swaps \| Derivatives Designated as Cash Flow Hedging Instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Notional amounts	10,500	10,500
Fair Values	$ 882	$ 786

Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Charge-offs	$ 6,683	$ 2,293
Real estate \| Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	54,655		$ 334,613
Year two	339,796		889,519
Year three	882,616		473,772
Year four	474,952		255,465
Year five	240,068		204,945
Prior	353,245		206,427
Revolving Loans Amortized Cost Basis	75,456		77,993
Total	2,420,788		2,442,734
Year one	0		0
Year two	11		0
Year three	193		0
Year four	0		0
Year five	251		0
Prior	0		42
Revolving Loans Amortized Cost Basis	0		0
Charge-offs	455	42	42
Real estate \| Commercial real estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	53,920		333,887
Year two	339,064		885,234
Year three	879,163		470,252
Year four	471,291		253,700
Year five	238,129		204,421
Prior	342,477		188,532
Revolving Loans Amortized Cost Basis	75,186		77,993
Total	2,399,230		2,414,019
Real estate \| Commercial real estate \| Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		0
Year two	0		0
Year three	0		308
Year four	0		0
Year five	0		0
Prior	7,902		7,950
Revolving Loans Amortized Cost Basis	0		0
Total	7,902		8,258
Real estate \| Commercial real estate \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	735		726
Year two	732		4,285
Year three	3,453		3,212
Year four	3,661		1,765
Year five	1,939		524
Prior	2,866		9,945
Revolving Loans Amortized Cost Basis	270		0
Total	13,656		20,457
Real estate \| Construction/land/land development
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	34,065		260,439
Year two	310,045		474,967
Year three	496,211		234,378
Year four	232,004		21,549
Year five	20,887		7,883
Prior	29,925		26,020
Revolving Loans Amortized Cost Basis	45,460		44,989
Total	1,168,597		1,070,225
Year one	0		0
Year two	0		0
Year three	0		0
Year four	0		0
Year five	0		0
Prior	0		0
Revolving Loans Amortized Cost Basis	0		0
Charge-offs	0	0	0
Real estate \| Construction/land/land development \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	33,939		259,502
Year two	309,113		461,373
Year three	485,551		214,526
Year four	212,239		21,309
Year five	20,392		7,221
Prior	28,738		25,460
Revolving Loans Amortized Cost Basis	45,460		42,700
Total	1,135,432		1,032,091
Real estate \| Construction/land/land development \| Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		746
Year two	746		10,462
Year three	10,432		19,811
Year four	19,646		0
Year five	263		0
Prior	0		0
Revolving Loans Amortized Cost Basis	0		0
Total	31,087		31,019
Real estate \| Construction/land/land development \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	126		191
Year two	186		3,132
Year three	228		41
Year four	119		240
Year five	232		662
Prior	1,187		560
Revolving Loans Amortized Cost Basis	0		2,289
Total	2,078		7,115
Real estate \| Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	28,239		333,813
Year two	329,365		551,489
Year three	536,359		290,728
Year four	288,201		238,361
Year five	235,150		80,866
Prior	224,115		147,214
Revolving Loans Amortized Cost Basis	91,868		92,464
Total	1,733,297		1,734,935
Year one	0		0
Year two	0		0
Year three	0		0
Year four	0		5
Year five	0		0
Prior	0		22
Revolving Loans Amortized Cost Basis	0		0
Charge-offs	0	0	27
Real estate \| Residential real estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	27,372		332,874
Year two	327,421		549,504
Year three	533,926		289,289
Year four	285,239		237,813
Year five	233,821		79,499
Prior	218,562		142,265
Revolving Loans Amortized Cost Basis	91,462		91,972
Total	1,717,803		1,723,216
Real estate \| Residential real estate \| Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		250
Year two	0		0
Year three	0		0
Year four	0		141
Year five	136		0
Prior	0		0
Revolving Loans Amortized Cost Basis	0		0
Total	136		391
Real estate \| Residential real estate \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	867		689
Year two	1,944		1,985
Year three	2,433		1,439
Year four	2,962		407
Year five	1,193		1,367
Prior	5,553		4,949
Revolving Loans Amortized Cost Basis	406		492
Total	15,358		11,328
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	130,114		403,566
Year two	373,422		280,211
Year three	244,932		173,544
Year four	151,789		37,366
Year five	32,164		58,032
Prior	75,475		48,745
Revolving Loans Amortized Cost Basis	1,146,255		1,057,996
Total	2,154,151		2,059,460
Year one	0		203
Year two	536		328
Year three	316		233
Year four	79		141
Year five	162		539
Prior	154		679
Revolving Loans Amortized Cost Basis	4,934		9,710
Charge-offs	6,181	2,169	11,833
Commercial and Industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	128,195		399,485
Year two	370,024		272,152
Year three	237,053		160,636
Year four	142,170		36,995
Year five	31,382		57,562
Prior	74,763		48,523
Revolving Loans Amortized Cost Basis	1,110,563		1,035,021
Total	2,094,150		2,010,374
Commercial and Industrial \| Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		498
Year two	477		6,383
Year three	6,052		0
Year four	0		0
Year five	0		0
Prior	0		0
Revolving Loans Amortized Cost Basis	451		650
Total	6,980		7,531
Commercial and Industrial \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	1,919		3,583
Year two	2,921		1,676
Year three	1,827		12,908
Year four	9,619		371
Year five	782		470
Prior	712		222
Revolving Loans Amortized Cost Basis	35,241		22,325
Total	53,021		41,555
Mortgage warehouse lines of credit
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		0
Year two	0		0
Year three	0		0
Year four	0		0
Year five	0		0
Prior	0		0
Revolving Loans Amortized Cost Basis	400,995		0
Total	400,995		0
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Charge-offs	0	0
Mortgage warehouse lines of credit \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one			0
Year two			0
Year three			0
Year four			0
Year five			0
Prior			0
Revolving Loans Amortized Cost Basis			329,966
Total			329,966
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2,424		11,088
Year two	8,610		3,609
Year three	2,834		1,050
Year four	838		399
Year five	309		472
Prior	416		17
Revolving Loans Amortized Cost Basis	6,768		6,989
Total	22,199		23,624
Year one	0		3
Year two	0		102
Year three	10		7
Year four	3		0
Year five	0		0
Prior	0		2
Revolving Loans Amortized Cost Basis	34		33
Charge-offs	47	$ 82	147
Consumer \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2,424		11,053
Year two	8,578		3,567
Year three	2,783		1,040
Year four	830		399
Year five	309		470
Prior	416		17
Revolving Loans Amortized Cost Basis	6,755		6,988
Total	22,095		23,534
Consumer \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0		35
Year two	32		42
Year three	51		10
Year four	8		0
Year five	0		2
Prior	0		0
Revolving Loans Amortized Cost Basis	13		1
Total	$ 104		$ 90

Securities - Narrative (Details)	Mar. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Number of securities in an unrealized loss position \| security	595
Held-to-maturity securities, accrued interest	$ 5,600,000		$ 7,500,000
Held to maturity, amortized cost	11,675,000
Held-to-maturity securities, nonaccrual status	0	$ 0
Available for sale, past due	1,349,979,000	1,407,675,000
Available-for-sale, nonaccrual	0	0
Total Past Due
Schedule of Held-to-maturity Securities [Line Items]
Held to maturity, amortized cost	0	0
Available for sale, past due	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 5A
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 5A
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Section 50
-Paragraph 5B
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

+ Details

Borrowings

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Borrowings

Note 7 — Borrowings

Borrowed funds are summarized as follows:


(Dollars in thousands)	March 31, 2024		December 31, 2023
Short-term FHLB advances	$	—	$	70,000
Long-term FHLB advances	6,406		6,474
Overnight repurchase agreements with depositors	6,752		7,124

Total FHLB advances and other borrowings	$	13,158	$	83,598
Subordinated indebtedness, net	$	160,684	$	194,279

At December 31, 2023, the Company had $34.7 million in subordinated promissory notes that were assumed in the merger with BTH (“BTH Notes”) with origination dates ranging from June 2015 to June 2021. After the five-year anniversary of issuance, the Company can redeem the BTH Notes in part or in full at the Company’s discretion and, if applicable, subject to receipt of any required regulatory approvals. Primarily due to the declining Tier 2 capital contribution of the BTH Notes, the Company elected to redeem all but $1.1 million of the BTH Notes during the three months ended March 31, 2024

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1C
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
Significant Accounting Policies (Details) $ in Thousands	Mar. 31, 2024 USD ($) banking_center segment	Mar. 31, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Number of banking centers \| banking_center	60
Number of segments \| segment	1
Amortization of investments in tax credit funds	$ 415	$ 453
Income tax credits and other income tax benefits	504	569
Investments in tax credit entities	$ 7,200	$ 9,000
Tax Credit Entity
Property, Plant and Equipment [Line Items]
General partner ownership interest	0.10%

Fair Value of Financial Instruments - Changes in Fair Value of Assets Classified in the Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Mortgage banking revenue (loans held for sale)
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Total fair value option impact on noninterest income	$ 2	$ 164
Other income: \| Securities carried at fair value through income
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Total fair value option impact on noninterest income	(53)	46
Noninterest income
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Total fair value option impact on noninterest income	$ (51)	$ 210

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The consolidated financial statements in this quarterly report on Form 10-Q include the accounts of the Company and all other entities in which Origin Bancorp, Inc. has a controlling financial interest, including the Bank and Forth Insurance, LLC. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s accounting and financial reporting policies conform, in all material respects, to generally accepted accounting principles in the United States (“U.S. GAAP”) and to general practices within the financial services industry. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated financial statements in this quarterly report on Form 10-Q have not been audited by an independent registered public accounting firm, excluding the figures as of December 31, 2023, but in the opinion of management, reflect all adjustments (which are of a normal recurring nature) necessary for a fair presentation of the Company’s financial position and results of operations for the periods presented. These consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2023, included in the Company’s annual report on Form 10-K (“2023 Form 10-K”) filed with the SEC. Operating results for the interim periods disclosed herein are not necessarily indicative of results that may be expected for a full year. Certain prior period amounts have been reclassified to conform to the current year financial statement presentations. These reclassifications did not impact previously reported net income or comprehensive income (loss).
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions based on available information that affect the amounts reported in the financial statements and disclosures provided, including the accompanying notes, and actual results could differ. Material estimates that are particularly susceptible to change include the allowance for credit losses for loans, off-balance sheet commitments and available for sale securities; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the Company’s consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual results could differ from those estimates.
Reclassifications	Reclassifications. Certain amounts previously reported have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior year net income or stockholders’ equity.
Investments in Tax Credit Entities	Investments in Tax Credit Entities. As part of its Community Reinvestment Act responsibilities and due to their favorable economic characteristics, the Company invests in tax credit-motivated projects primarily in the markets it serves. These projects are directed at tax credits issued under Low-Income Housing Tax Credits (“LIHTC”). The Company generates returns on tax credit motivated projects through the receipt of federal, and if applicable, state tax credits. The federal tax credits are recorded as an offset to the income tax provision in the year that they are earned under federal income tax law over 10 to 15 years beginning in the year in which rental activity commences. These credits, if not used in the tax return for the year of origination, can be carried forward for 20 years. The Company invests in a tax credit entity, usually an LLC, which owns the real estate. The Company receives a nonvoting interest in the entity that must be retained during the compliance period for the credits (15 years for Low-Income Housing Tax Credit programs). Control of the tax credit entity rests in the 0.1% interest general partner, who has the power and authority to make decisions that impact economic performance of the project and is required to oversee and manage the project. Due to the lack of any voting, economic, or managerial control, and due to the contractual reduction in the investment, the Company accounts for its investment by amortizing the investment, beginning at the issuance of the certificate of occupancy of the project, over the compliance period, as management believes any potential residual value in the real estate will have limited value. Amortization is included as a component of income tax expense and for the three months ended March 31, 2024 and 2023, was $415,000 and $453,000, respectively. The income tax credits and other income tax benefits recognized for the three months ended March 31, 2024 and 2023, was $504,000 and $569,000, respectively, and was included as a component of income tax expense on the Consolidated Statements of Income. The Company has the risk of credit recapture if the projects do not maintain compliance during the compliance period. No such events have occurred to date.
Effect of Recently Adopted Accounting Standards and Effect of Newly Issued But Not Yet Effective Accounting Standards	Effect of Recently Adopted Accounting Standards ASU No. 2021-08, Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this Update affect accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-01, Derivatives and Hedging (Topic 815) — Fair Value Hedging - Portfolio Layer Method. The amendments in this Update clarify the accounting for and promote consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. Additionally, this Update allows entities to elect to apply the portfolio layer method of hedge accounting in accordance with Topic 815. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326) — Troubled Debt Restructurings and Vintage Disclosures. The amendments in this Update eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. For public business entities, the amendments in this Update require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company’s financial statements or disclosures. ASU No. 2022-06, Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 — The amendments in this Update provide temporary relief during the transition period in complying with Update No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The Board included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. At the time that Update 2020-04 was issued, the UK Financial Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022 - 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of the overnight 1-, 3-, 6-, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset date of Topic 848. Because the relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The ASU is effective immediately. Implementation of this ASU did not materially impact the Company's financial statements or disclosures. ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method — The amendments in this Update allow entities to elect to account for equity investments made primarily for the purpose of receiving income tax credits using the proportional amortization method, regardless of the tax credit program through which the investment earns income tax credits, if certain conditions are met. The amendments in this Update also eliminate certain low income housing tax credits (“LIHTC”)-specific guidance to align the accounting more closely for LIHTCs with the accounting for other equity investments in tax credit structures and require that the delayed equity contribution guidance apply only to tax equity investments accounted for using the proportional amortization method. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Implementation of this ASU did not materially impact the Company's financial statements or disclosures. Effect of Newly Issued But Not Yet Effective Accounting Standards ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures — The amendments in this Update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this Update: 1.Require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”). 2.Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss. 3.Require that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods. 4.Clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s consolidated financial statements. In other words, in addition to the measure that is most consistent with the measurement principles under generally accepted accounting principles (GAAP), a public entity is not precluded from reporting additional measures of a segment’s profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. 5.Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. 6.Require that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this Update and all existing segment disclosures in Topic 280. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application to all periods presented in the financial statements is required. The Company is evaluating the impact of this ASU on its consolidated financial statements and disclosures. ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures — The amendments in this Update, on an annual basis, require that public business entities (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Specifically, public business entities are required to disclose a tabular reconciliation, using both percentages and reporting currency amounts, for specific listed categories. The ASU is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The Company is evaluating the impact of this ASU on its consolidated financial statements and disclosures.
Fair Value of Financial Instruments	Fair value is the exchange price that is expected to be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Certain assets and liabilities are recorded in the Company’s consolidated financial statements at fair value. Some are recorded on a recurring basis and some on a nonrecurring basis. The Company utilizes fair value measurement to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The determination of fair values of financial instruments often requires the use of estimates. In cases where quoted market values in an active market are not available, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach to estimate the fair values of its financial instruments. Such valuation techniques are consistently applied. A hierarchy for fair value has been established, which categorizes the valuation techniques into three levels used to measure fair value. The three levels are as follows: Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Fair value is based on significant other observable inputs that are generally determined based on a single price for each financial instrument provided to the Company by an unrelated third-party pricing service and is based on one or more of the following: •Quoted prices for similar, but not identical, assets or liabilities in active markets; •Quoted prices for identical or similar assets or liabilities in markets that are not active; •Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; and •Other inputs derived from or corroborated by observable market inputs. Level 3 - Prices or valuation techniques that require inputs that are both significant and unobservable in the market. These instruments are valued using the best information available, some of which is internally developed, and reflects the Company’s own assumptions about the risk premiums that market participants would generally require and the assumptions they would use. These estimates can be inherently uncertain. Securities Available for Sale Securities classified as available for sale are reported at fair value utilizing Level 1, Level 2 or Level 3 inputs. For Level 1 securities, the Company obtains the fair value measurements for those identical assets from an independent pricing service. For Level 2 securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, market consensus prepayment speeds, credit information and the security's terms and conditions, among other things. In order to ensure the fair values are consistent with ASC 820, Fair Value Measurements and Disclosures, the Company periodically checks the fair value by comparing them to other pricing sources, such as Bloomberg LP. The third-party pricing service is subject to an annual review of internal controls in accordance with the Statement on Standards for Attestation Engagements No. 16, which was made available to the Company. In certain cases where Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. For level 3 securities, the Company determines the fair value of the instruments based on their callability, putability and prepay optionality. Putable instruments are valued at book value, non-putable instruments are priced mainly using a present value calculation based on the spread to the yield curve. Derivatives Fair values for interest rate swap agreements and interest rate lock commitments are based upon the amounts that would be required to settle the contracts. Fair values for risk participations and loan sale commitments are based on the fair values of the underlying mortgage loans or securities and the probability of such commitments being exercised. Significant management judgment and estimation is required in determining these fair value measurements. Fair Values of Assets Recorded on a Recurring Basis for which the Fair Value Option has been Elected Certain assets are measured at fair value on a recurring basis due to the Company’s election to adopt fair value accounting treatment for those assets. This election allows for a more effective offset of the changes in fair values of the assets and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting under ASC Topic 815, Derivatives and Hedging. For assets for which the fair value has been elected, the earned current contractual interest payment is recognized in interest income. The following methodologies were used to measure the fair value of financial assets valued on a recurring basis for which the fair value option was elected: Securities at Fair Value through Income Securities carried at fair value through income are valued using a discounted cash flow with a credit spread applied to each instrument based on the creditworthiness of each issuer. Credit spreads ranged from 83 to 227 basis points at both March 31, 2024, and December 31, 2023. The Company believes the fair value approximates an exit price. Loans Held for Sale Fair values for loans held for sale are established using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price. Fair Value of Assets Recorded on a Nonrecurring Basis Non-marketable equity securities held in other financial institutions The majority of the Company’s non-marketable equity securities held in other financial institutions qualify for the practical expedient allowed for equity securities without a readily determinable fair values, such that the Company has elected to carry these securities at cost adjusted for any observable transactions during the period, less any impairment. Non-marketable equity securities held in other financial institutions totaled $53.9 million and $55.2 million at March 31, 2024 and December 31, 2023, respectively, and are shown on the face of the consolidated balance sheets. To date, no impairment has been recorded on the Company's investments in equity securities that do not have readily determinable fair values. Individually Evaluated Loans with Credit Losses Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured to determine if any credit loss exists. Allowable methods for determining the amount of credit loss include estimating the fair value using the fair value of the collateral for collateral-dependent loans and a discounted cash flow methodology for other evaluated loans that are not collateral dependent. If the loan is identified as collateral-dependent, the fair value method of measuring the amount of credit loss is utilized. Evaluating the fair value of the collateral for collateral-dependent loans requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. If the loan is not collateral-dependent, the discounted cash flow method is utilized, which involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. Loans that have experienced a credit loss with specific allocated losses are within Level 3 of the fair value hierarchy when the credit loss is determined using the fair value method. The fair value of collateral-dependent loans that have specific allocated reserves was approximately $3.9 million and $3.8 million at March 31, 2024, and December 31, 2023, respectively. Non-Financial Assets Foreclosed assets held for sale are the only non-financial assets valued on a nonrecurring basis that are initially recorded by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the ALCL. Additionally, valuations are periodically performed by management, and any subsequent reduction in value is recognized by a charge to income. The carrying value and fair value of foreclosed assets held for sale was estimated using Level 3 inputs based on observable market data
Derivative Instruments and Hedging Activities	Risk Management Objective of Using Derivatives The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments, as well as to manage changes in fair values of some assets which are marked at fair value through the consolidated statement of income on a recurring basis. Cash Flow Hedges of Interest Rate Risk The Company is a party to interest rate swap agreements under which the Company receives interest at a variable rate and pays at a fixed rate. The derivative instruments represented by these swap agreements are designated as cash flow hedges of the Company’s forecasted variable cash flows under a variable-rate term borrowing agreements. During the terms of the swap agreements, the effective portion of changes in the fair value of the derivative instruments are recorded in accumulated other comprehensive (loss) income and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affected earnings. There was no ineffective portion of the change in fair value of the derivatives recognized directly in earnings. The entire swap fair value will be reclassified into earnings before the expiration dates of the swap agreements. Derivatives Not Designated as Hedges Customer interest rate derivative program The Company offers certain derivatives products, primarily interest rate swaps, directly to qualified commercial banking customers to facilitate their risk management strategies. In most instances, the Company acts only as an intermediary, simultaneously entering into offsetting agreements with unrelated financial institutions, thereby mitigating its net risk exposure resulting from such transactions without significantly impacting its results of operations. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and any offsetting derivatives are recognized directly in earnings as a component of noninterest income. From time to time, the Company shares in credit risk on interest rate swap arrangements, by entering into risk participation agreements with syndication partners. These are accounted for at fair value and disclosed as risk participation derivatives. Mortgage banking derivatives As part of its mortgage banking and related risk management activities, the Company enters into interest rate lock commitment (“IRLC”) agreements on prospective residential mortgage loans. These IRLCs are derivative financial instruments and the fair value of these IRLCs are included in other assets. The Company also economically hedged the value of MSRs by entering into a series of commitments to purchase mortgage-backed securities in the future and U.S. Treasury Notes. Some interest rate swaps included in other assets were subject to a master netting arrangement with the counterparty in all periods presented and could be offset against some amounts included in interest rate swaps included in other liabilities. The Company has chosen not to net these exposures in the consolidated balance sheets, and any impact of netting these amounts would not be significant.

Securities - Proceeds from Sales of Securities Available for Sale and Gross Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales/calls	$ 21,224	$ 39,195
Gross realized gains	0	596
Gross realized losses	$ (403)	$ (452)

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash collateral on deposit	$ 940	$ 865

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income	$ 22,632	$ 24,302
Denominator:
Weighted average common shares outstanding (in shares)	30,981,333	30,742,902
Dilutive effect of stock-based awards (in shares)	97,577	139,254
Weighted average diluted common shares outstanding (in shares)	31,078,910	30,882,156
Basic earnings per common share (in dollars per share)	$ 0.73	$ 0.79
Diluted earnings per common share (in dollars per share)	$ 0.73	$ 0.79

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 22,632	$ 24,302
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	3,012	6,197
Depreciation and amortization	4,075	4,529
Net amortization on securities	1,218	1,744
Accretion of net premium/discount on purchased loans	(6)	(1,617)
Amortization of investments in tax credit funds	415	453
Loss (gain) on sale of securities, net	403	(144)
Deferred income tax (benefit) expense	(2,583)	12,310
Stock-based compensation expense	2,079	1,391
Originations of mortgage loans held for sale	(44,392)	(43,163)
Proceeds from mortgage loans held for sale	35,887	29,905
Gain on mortgage loans held for sale including, for the three months ended March 31, 2023, origination of mortgage servicing rights	(964)	(758)
Mortgage servicing rights valuation adjustment	(450)	906
Gain on sale of MSR	(410)	0
Net gain on disposals of premises and equipment	(2)	(63)
Increase in the cash surrender value of life insurance	(229)	(213)
Net losses on sales and write-downs of other real estate owned	21	0
Net change in operating leases	35	(80)
Decrease (increase) in other assets	4,835	(4,940)
Increase (decrease) in other liabilities	1,557	(3,180)
Net cash provided by operating activities	27,133	27,579
Cash flows from investing activities:
Purchases of securities available for sale	(7,194)	(751)
Maturities and pay downs of securities available for sale	42,046	36,610
Proceeds from sales and calls of securities available for sale	21,224	39,195
Redemption of non-marketable equity securities held in other financial institutions	5,556	0
Purchase of non-marketable equity securities held in other financial institutions	(4,016)	(9,306)
Originations of mortgage warehouse loans	(1,842,251)	(1,198,573)
Proceeds from pay-offs of mortgage warehouse loans	1,771,222	1,145,909
Net increase in loans, excluding mortgage warehouse and loans held for sale	(160,209)	(224,124)
Proceeds from sale of MSR	15,885	0
Return of capital and other distributions from limited partnership investments	275	802
Capital calls on limited partnership investments	(388)	(189)
Purchase of low-income housing tax credit investments	0	(411)
Purchases of premises and equipment	(3,906)	(5,790)
Proceeds from sales of premises and equipment	18	0
Proceeds from sales of other real estate owned	54	0
Net cash used in investing activities	(161,684)	(216,628)
Cash flows from financing activities:
Net increase in deposits	254,339	398,608
Repayments on long-term FHLB advances	(68)	(65)
Proceeds from short-term FHLB advances	670,000	3,561,901
Repayments on short-term FHLB advances	(740,000)	(3,260,000)
Redemption of subordinated debentures	(33,675)	0
Repayments on other short-term borrowings	0	(20,000)
Net decrease in securities sold under agreements to repurchase	(372)	(20,995)
Dividends paid	(4,670)	(4,623)
Cash received from exercise of stock options	68	362
Net cash provided by financing activities	145,622	655,188
Net increase in cash and cash equivalents	11,071	466,139
Cash and cash equivalents at beginning of period	280,441	358,972
Cash and cash equivalents at end of period	291,512	825,111
Interest paid	61,707	40,356
Income taxes (refund) paid	(2,069)	4
Significant non-cash transactions:
Decrease in Government National Mortgage Association (“GNMA”) repurchase obligation	0	(24,569)
Recognition of operating right-of-use assets	491	7,347
Recognition of operating lease liabilities	$ 500	$ 7,306

Mortgage Banking - Narrative (Details) - USD ($)	3 Months Ended
Mortgage Banking - Narrative (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Mortgage Banking [Abstract]
Gain on sale of MSR	$ 410,000	$ 0
Mortgage servicing rights assets recognized or recorded during period	0	149,000
Carrying value MSR assets	0	18,261,000	$ 15,637,000	$ 20,824,000
Settlement of sale of MSR	$ 16,087,000	$ 1,806,000
Annual servicing fee income rate	0.25%
Reserve for mortgage loan servicing putback expenses	$ 113,000		$ 127,000

Borrowings - Narrative (Details) - Subordinated indebtedness, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Debt Instrument [Line Items]
Subordinated indebtedness, net	$ 194,279	$ 160,684
BTH
Debt Instrument [Line Items]
Subordinated indebtedness, net	$ 34,700	$ 1,100
Debt instrument, redemption period, term threshold	5 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Commitments and Contingencies - Off-Balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Less than One Year	$ 981,899	$ 1,058,766
One-Three Years	885,798	1,011,148
Three-Five Years	423,631	382,875
Greater than Five Years	50,723	58,954
Off-balance sheet financial instrument	2,342,051	2,511,743
Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Less than One Year	875,843	955,486
One-Three Years	838,913	990,690
Three-Five Years	390,674	349,918
Greater than Five Years	50,723	58,954
Off-balance sheet financial instrument	2,156,153	2,355,048
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Less than One Year	106,056	103,280
One-Three Years	46,885	20,458
Three-Five Years	32,957	32,957
Greater than Five Years	0	0
Off-balance sheet financial instrument	185,898	156,695
Unconditional cancellable commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet financial instrument	$ 867,500	$ 759,400

Loans - Amortized Cost Basis of Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 14,731	$ 5,011
ALCL Allocation	122	0
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	494	377
ALCL Allocation	0	0
Mortgage Warehouse Lines of Credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
ALCL Allocation	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
ALCL Allocation	0	0
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	14,237	4,634
Real Estate \| Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Real Estate \| Mortgage Warehouse Lines of Credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Real Estate \| Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	69	119
Equipment \| Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	69	119
Equipment \| Mortgage Warehouse Lines of Credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Equipment \| Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	425	258
Other \| Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	425	258
Other \| Mortgage Warehouse Lines of Credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Other \| Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Commercial Real Estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	2,358	605
ALCL Allocation	0	0
Commercial Real Estate \| Real Estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	2,358	605
Commercial Real Estate \| Equipment \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Commercial Real Estate \| Other \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Construction/ Land/ Land Development \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	83	0
ALCL Allocation	0	0
Construction/ Land/ Land Development \| Real Estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	83	0
Construction/ Land/ Land Development \| Equipment \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Construction/ Land/ Land Development \| Other \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Residential Real Estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	11,796	4,029
ALCL Allocation	122	0
Residential Real Estate \| Real Estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	11,796	4,029
Residential Real Estate \| Equipment \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0	0
Residential Real Estate \| Other \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 0	$ 0

Stock and Incentive Compensation Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Outstanding at beginning of period (in shares)	353,473	504,437	504,437
Exercised (in shares)	(7,941)	(27,282)
Expired (in shares)	(2,151)	(331)
Outstanding at end of period (in shares)	343,381	476,824	353,473	504,437
Outstanding and exercisable (in shares)	343,381	476,824
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 31.49	$ 29.46	$ 29.46
Exercised (in dollars per share)	16.66	15.62
Expired (in dollars per share)	37.18	37.76
Outstanding at end of period (in dollars per share)	31.79	30.24	$ 31.49	$ 29.46
Outstanding and exercisable (in dollars per share)	$ 31.79	$ 30.24
Weighted average remaining contractual term (in years)	4 years 14 days	5 years	4 years 5 months 15 days	5 years 1 month 17 days
Weighted average remaining contractual term, outstanding and exercisable (in years)	4 years 14 days	5 years
Aggregate Intrinsic Value	$ 771	$ 1,728	$ 1,670	$ 3,736
Aggregate Intrinsic Value, exercised	130	587
Aggregate Intrinsic Value, outstanding and exercisable	$ 771	$ 1,728

Fair Value of Financial Instruments - Assumptions Used to Value Mortgage Servicing Rights (Details)	3 Months Ended
	Mar. 31, 2023
Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Prepayment speeds	7.49%
Discount rates	10.25%
Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Prepayment speeds	8.50%
Discount rates	12.75%
Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Prepayment speeds	8.10%
Discount rates	10.31%

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2022		30,746,600
Beginning balance at Dec. 31, 2022	$ 949,943	$ 153,733	$ 520,669	$ 435,416	$ (159,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,302			24,302
Other comprehensive income (loss), net of tax	21,394				21,394
Stock-based compensation expense	1,391		1,391
Stock based compensation shares issued, net of shares withheld (in shares)		9,750
Stock based compensation shares issued, net of shares withheld	$ (89)	$ 49	(138)
Exercise of stock options, net of shares withheld (in shares)	27,282	24,503
Exercise of stock options, net of shares withheld	$ 324	$ 122	202
Dividends declared - common stock ($0.15 per share)	(4,678)			(4,678)
Ending balance (in shares) at Mar. 31, 2023		30,780,853
Ending balance at Mar. 31, 2023	992,587	$ 153,904	522,124	455,040	(138,481)
Beginning balance at Dec. 31, 2023	1,062,905	$ 154,931	528,578	500,419	(121,023)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,632			22,632
Other comprehensive income (loss), net of tax	(3,886)				(3,886)
Stock-based compensation expense	2,079		2,079
Stock based compensation shares issued, net of shares withheld (in shares)		20,108
Stock based compensation shares issued, net of shares withheld	$ (185)	$ 101	(286)
Exercise of stock options, net of shares withheld (in shares)	7,941	5,087
Exercise of stock options, net of shares withheld	$ 34	$ 25	9
Dividends declared - common stock ($0.15 per share)	(4,726)			(4,726)
Ending balance (in shares) at Mar. 31, 2024		31,011,304
Ending balance at Mar. 31, 2024	$ 1,078,853	$ 155,057	$ 530,380	$ 518,325	$ (124,909)

Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 96,868	$ 87,161	$ 87,161
Charge-offs	6,683	2,293
Recoveries	4,101	982
Provision	4,089	6,158
Ending balance	98,375	92,008	96,868
Average balance	$ 7,759,005	$ 7,146,358
Net charge-offs to loan average balance (annualized)	0.13%	0.07%
Provision (benefit) for credit losses	$ 3,000	$ 6,200
Provision (benefit) for loan credit losses	4,089	6,158
Provision (release) for off-balance sheet commitments	(1,000)	(43)
Credit loss expense (benefit) for held to maturity securities	(39)	82
Real Estate \| Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	19,625	19,772	19,772
Charge-offs	455	42	42
Recoveries	30	60
Provision	(1,656)	891
Ending balance	17,544	20,681	19,625
Average balance	$ 2,438,476	$ 2,342,545
Net charge-offs to loan average balance (annualized)	0.07%	0.00%
Provision (benefit) for loan credit losses	$ (1,656)	$ 891
Real Estate \| Construction/ Land/ Land Development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	9,990	7,776	7,776
Charge-offs	0	0	0
Recoveries	0	0
Provision	(11)	289
Ending balance	9,979	8,065	9,990
Average balance	$ 1,130,355	$ 974,914
Net charge-offs to loan average balance (annualized)	0.00%	0.00%
Provision (benefit) for loan credit losses	$ (11)	$ 289
Real Estate \| Residential Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10,619	8,230	8,230
Charge-offs	0	0	27
Recoveries	4	5
Provision	11	285
Ending balance	10,634	8,520	10,619
Average balance	$ 1,739,105	$ 1,519,325
Net charge-offs to loan average balance (annualized)	0.00%	0.00%
Provision (benefit) for loan credit losses	$ 11	$ 285
Commercial and Industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	55,330	50,148	50,148
Charge-offs	6,181	2,169	11,833
Recoveries	4,064	912
Provision	5,610	4,466
Ending balance	58,823	53,357	55,330
Average balance	$ 2,121,502	$ 2,070,356
Net charge-offs to loan average balance (annualized)	0.40%	0.25%
Provision (benefit) for loan credit losses	$ 5,610	$ 4,466
Mortgage Warehouse Lines of Credit
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	529	379	379
Charge-offs	0	0
Recoveries	0	0
Provision	132	186
Ending balance	661	565	529
Average balance	$ 306,248	$ 213,201
Net charge-offs to loan average balance (annualized)	0.00%	0.00%
Provision (benefit) for loan credit losses	$ 132	$ 186
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	775	856	856
Charge-offs	47	82	147
Recoveries	3	5
Provision	3	41
Ending balance	734	820	$ 775
Average balance	$ 23,319	$ 26,017
Net charge-offs to loan average balance (annualized)	0.76%	1.20%
Provision (benefit) for loan credit losses	$ 3	$ 41

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Information regarding the Company’s basic and diluted earnings per common share is presented in the following table:


(Dollars in thousands, except per share amounts)	Three Months Ended March 31,
Numerator:	2024		2023
Net income	$	22,632	$	24,302



Denominator:





Weighted average common shares outstanding	30,981,333		30,742,902
Dilutive effect of stock-based awards	97,577		139,254
Weighted average diluted common shares outstanding	31,078,910		30,882,156

Basic earnings per common share	$	0.73	$	0.79
Diluted earnings per common share	0.73		0.79

Fair Value of Financial Instruments - Difference Between Fair Value and Unpaid Principal Balance (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate Fair Value	$ 21,730,000	$ 23,660,000
Principal Balance/Amortized Cost	21,411,000	23,290,000
Difference	319,000	370,000
Nonaccrual mortgage loans held for sale recorded at fair value	0	0
Loans held for sale
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate Fair Value	14,975,000	16,852,000
Principal Balance/Amortized Cost	14,596,000	16,475,000
Difference	379,000	377,000
Securities carried at fair value through income
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate Fair Value	6,755,000	6,808,000
Principal Balance/Amortized Cost	6,815,000	6,815,000
Difference	$ (60,000)	$ (7,000)

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 22,632	$ 24,302
Securities available for sale and transferred securities:
Net unrealized holding (loss) gain arising during the period	(5,415)	27,400
Reclassification adjustment for net loss (gain) included in net income	403	(144)
Change in the net unrealized (loss) gain on available for sale investment securities, before tax	(5,012)	27,256
Net gain realized as a yield adjustment in interest on transferred investment securities	(3)	(3)
Change in the net unrealized (loss) gain on investment securities, before tax	(5,015)	27,253
Income tax (benefit) expense related to net unrealized gain (loss) arising during the period	(1,053)	5,724
Change in the net unrealized (loss) gain on investment securities, net of tax	(3,962)	21,529
Cash flow hedges:
Net unrealized gain arising during the period	204	643
Reclassification adjustment for net gain included in net income	(108)	(814)
Change in the net unrealized gain (loss) on cash flow hedges, before tax	96	(171)
Income tax expense (benefit) related to net unrealized gain (loss) on cash flow hedges	20	(36)
Change in net unrealized net gain (loss) on cash flow hedges, net of tax	76	(135)
Other comprehensive (loss) income, net of tax	(3,886)	21,394
Comprehensive income	$ 18,746	$ 45,696

Capital and Regulatory Matters - Actual Capital Amounts and Ratios (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Origin Bancorp, Inc.
Common Equity Tier 1 Capital to Risk-Weighted Assets
Actual, amount	$ 1,034,347	$ 1,012,916
Actual, ratio	0.1197	0.1183
Minimum capital required, amount	$ 604,669	$ 599,455
Minimum capital required, ratio	0.0700	0.0700
Tier 1 Capital to Risk-Weighted Assets
Actual, amount	$ 1,050,183	$ 1,028,729
Actual, ratio	0.1215	0.1201
Minimum capital required, amount	$ 734,696	$ 727,907
Minimum capital required, ratio	0.0850	0.0850
Total Capital to Risk-Weighted Assets
Actual, amount	$ 1,294,542	$ 1,286,604
Actual, ratio	0.1498	0.1502
Minimum capital required, amount	$ 907,389	$ 899,184
Minimum capital required, ratio	0.1050	0.1050
Leverage Ratio
Actual, amount	$ 1,050,183	$ 1,028,729
Actual, ratio	0.1066	0.1050
Minimum capital required, amount	$ 393,987	$ 391,822
Minimum capital required, ratio	0.0400	0.0400
Origin Bank \| Origin Bank
Common Equity Tier 1 Capital to Risk-Weighted Assets
Actual, amount	$ 1,040,139	$ 1,019,732
Actual, ratio	0.1208	0.1195
Minimum capital required, amount	$ 602,730	$ 597,548
Minimum capital required, ratio	0.0700	0.0700
Well capitalized, amount	$ 559,677	$ 554,866
Well capitalized, ratio	6.50%	6.50%
Tier 1 Capital to Risk-Weighted Assets
Actual, amount	$ 1,040,139	$ 1,019,732
Actual, ratio	0.1208	0.1195
Minimum capital required, amount	$ 731,886	$ 725,593
Minimum capital required, ratio	0.0850	0.0850
To be well capitalized under prompt corrective action provisions, amount	$ 688,834	$ 682,912
To be well capitalized under prompt corrective action provisions, ratio	0.0800	0.0800
Total Capital to Risk-Weighted Assets
Actual, amount	$ 1,209,498	$ 1,188,000
Actual, ratio	0.1405	0.1392
Minimum capital required, amount	$ 903,968	$ 896,320
Minimum capital required, ratio	0.1050	0.1050
To be well capitalized under prompt corrective action provisions, amount	$ 860,922	$ 853,638
To be well capitalized under prompt corrective action provisions, ratio	0.1000	0.1000
Leverage Ratio
Actual, amount	$ 1,040,139	$ 1,019,732
Actual, ratio	0.1060	0.1045
Minimum capital required, amount	$ 392,550	$ 390,246
Minimum capital required, ratio	0.0400	0.0400
To be well capitalized under prompt corrective action provisions, amount	$ 490,687	$ 487,807
To be well capitalized under prompt corrective action provisions, ratio	0.0500	0.0500

Securities - Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized Cost
Due in one year or less	$ 0
Due after one year through five years	0
Due after five years through ten years	5,161
Due after ten years	6,514
Held to maturity, amortized cost	11,675
Fair Value
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	4,833
Due after ten years	6,123
Held to maturity, fair value	10,956	$ 10,848
Amortized Cost
Due in one year or less	48,761
Due after one year through five years	86,572
Due after five years through ten years	177,058
Due after ten years	167,031
Available for sale, amortized cost	1,349,979	1,407,675
Fair Value
Due in one year or less	48,562
Due after one year through five years	79,665
Due after five years through ten years	156,673
Due after ten years	138,382
Available for sale, fair value	1,190,922	1,253,631
Commercial mortgage-backed securities
Amortized Cost
Without single maturity date	0
Fair Value
Without single maturity date	0
Amortized Cost
Without single maturity date	104,150
Available for sale, amortized cost	104,150	104,459
Fair Value
Without single maturity date	92,740
Available for sale, fair value	92,740	93,396
Residential mortgage-backed securities
Amortized Cost
Without single maturity date	0
Fair Value
Without single maturity date	0
Amortized Cost
Without single maturity date	552,647
Available for sale, amortized cost	552,647	569,622
Fair Value
Without single maturity date	486,623
Available for sale, fair value	486,623	506,502
Commercial collateralized mortgage obligations
Amortized Cost
Without single maturity date	0
Fair Value
Without single maturity date	0
Amortized Cost
Without single maturity date	45,874
Available for sale, amortized cost	45,874	39,386
Fair Value
Without single maturity date	41,426
Available for sale, fair value	41,426	35,183
Residential collateralized mortgage obligations
Amortized Cost
Without single maturity date	0
Fair Value
Without single maturity date	0
Amortized Cost
Without single maturity date	147,310
Available for sale, amortized cost	147,310	150,710
Fair Value
Without single maturity date	126,333
Available for sale, fair value	126,333	130,144
Asset-backed securities
Amortized Cost
Without single maturity date	0
Fair Value
Without single maturity date	0
Amortized Cost
Without single maturity date	20,576
Available for sale, amortized cost	20,576	43,521
Fair Value
Without single maturity date	20,518
Available for sale, fair value	$ 20,518	$ 43,005

Securities

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Securities

Note 3 — Securities


(Dollars in thousands) March 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Allowance for Credit Losses		Net Carrying Amount
Available for sale:
State and municipal securities	$	320,999	$	213	$	(43,615)	$	277,597	$	—	$	277,597
Corporate bonds	91,251		166		(8,170)		83,247		—		83,247
U.S. treasury and government agency securities	67,172		2		(4,736)		62,438		—		62,438
Commercial mortgage-backed securities	104,150		—		(11,410)		92,740		—		92,740
Residential mortgage-backed securities	552,647		—		(66,024)		486,623		—		486,623
Commercial collateralized mortgage obligations	45,874		—		(4,448)		41,426		—		41,426
Residential collateralized mortgage obligations	147,310		—		(20,977)		126,333		—		126,333
Asset-backed securities	20,576		23		(81)		20,518		—		20,518
Total	$	1,349,979	$	404	$	(159,461)	$	1,190,922	$	—	$	1,190,922
Held to maturity:
State and municipal securities	$	11,675	$	—	$	(719)	$	10,956	$	(24)	$	11,651
Securities carried at fair value through income:
State and municipal securities(1)	$	6,815	$	—	$	—	$	6,755	$	—	$	6,755


December 31, 2023
Available for sale:
State and municipal securities	$	323,356	$	210	$	(41,440)	$	282,126	$	—	$	282,126
Corporate bonds	92,244		80		(8,689)		83,635		—		83,635
U.S. treasury and government agency securities	84,377		3		(4,740)		79,640		—		79,640
Commercial mortgage-backed securities	104,459		—		(11,063)		93,396		—		93,396
Residential mortgage-backed securities	569,622		—		(63,120)		506,502		—		506,502
Commercial collateralized mortgage obligations	39,386		—		(4,203)		35,183		—		35,183
Residential collateralized mortgage obligations	150,710		—		(20,566)		130,144		—		130,144
Asset-backed securities	43,521		4		(520)		43,005		—		43,005
Total	$	1,407,675	$	297	$	(154,341)	$	1,253,631	$	—	$	1,253,631
Held to maturity:
State and municipal securities	$	11,678	$	—	$	(830)	$	10,848	$	(63)	$	11,615
Securities carried at fair value through income:
State and municipal securities(1)	$	6,815	$	—	$	—	$	6,808	$	—	$	6,808

________________________


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands) March 31, 2024	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Available for sale:
State and municipal securities	$	25,235	$	(258)	$	246,037	$	(43,357)	$	271,272	$	(43,615)
Corporate bonds	800		(200)		73,213		(7,970)		74,013		(8,170)
U.S. treasury and government agency securities	—		—		58,922		(4,736)		58,922		(4,736)
Commercial mortgage-backed securities	—		—		92,740		(11,410)		92,740		(11,410)
Residential mortgage-backed securities	—		—		486,623		(66,024)		486,623		(66,024)
Commercial collateralized mortgage obligations	6,627		(64)		34,799		(4,384)		41,426		(4,448)
Residential collateralized mortgage obligations	—		—		126,333		(20,977)		126,333		(20,977)
Asset-backed securities	3,841		(2)		12,469		(79)		16,310		(81)
Total	$	36,503	$	(524)	$	1,131,136	$	(158,937)	$	1,167,639	$	(159,461)
Held to maturity:
State and municipal securities	$	4,833	$	(328)	$	6,123	$	(391)	$	10,956	$	(719)

December 31, 2023
Available for sale:
State and municipal securities	$	27,106	$	(266)	$	246,442	$	(41,174)	$	273,548	$	(41,440)
Corporate bonds	4,254		(53)		74,566		(8,636)		78,820		(8,689)
U.S. treasury and government agency securities	—		—		77,340		(4,740)		77,340		(4,740)
Commercial mortgage-backed securities	—		—		93,396		(11,063)		93,396		(11,063)
Residential mortgage-backed securities	60		(5)		506,442		(63,115)		506,502		(63,120)
Commercial collateralized mortgage obligations	—		—		35,183		(4,203)		35,183		(4,203)
Residential collateralized mortgage obligations	—		—		130,144		(20,566)		130,144		(20,566)
Asset-backed securities	7,350		(52)		31,618		(468)		38,968		(520)
Total	$	38,770	$	(376)	$	1,195,131	$	(153,965)	$	1,233,901	$	(154,341)
Held to maturity:
State and municipal securities	$	4,717	$	(447)	$	6,131	$	(383)	$	10,848	$	(830)

At March 31, 2024, the Company had 595 individual securities that were in an unrealized loss position. Management evaluates available for sale debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to (1) the extent to which the fair value is less than the cost, and (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

Management does not currently intend to sell any securities in an unrealized loss position and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, at March 31, 2024, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions.

The following table presents the activity in the allowance for credit losses for held-to-maturity securities.


(Dollars in thousands)	Municipal Securities
Allowance for credit losses:	2024

Balance at January 1, 2024	$	63
Provision recovery for credit loss for held to maturity securities	(39)
Balance at March 31, 2024	$	24
Balance at January 1, 2023	$	899
Provision expense for credit loss for held to maturity securities	82
Balance at March 31, 2023	$	981

Accrued interest of $5.6 million and $7.5 million was not included in the calculation of the allowance or the amortized cost basis of the securities at March 31, 2024 or 2023, respectively. There were no past due or nonaccrual available for sale or held to maturity securities at March 31, 2024 or December 31, 2023.

Proceeds from sales and calls, and related gross gains and losses of securities available for sale, are shown below.


	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Proceeds from sales/calls	$	21,224	$	39,195
Gross realized gains	—		596
Gross realized losses	(403)		(452)


(Dollars in thousands)	Held to Maturity				Available for Sale
March 31, 2024	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	48,761	$	48,562
Due after one year through five years	—		—		86,572		79,665
Due after five years through ten years	5,161		4,833		177,058		156,673
Due after ten years	6,514		6,123		167,031		138,382
Commercial mortgage-backed securities	—		—		104,150		92,740
Residential mortgage-backed securities	—		—		552,647		486,623
Commercial collateralized mortgage obligations	—		—		45,874		41,426
Residential collateralized mortgage obligations	—		—		147,310		126,333
Asset-backed securities	—		—		20,576		20,518
Total	$	11,675	$	10,956	$	1,349,979	$	1,190,922

The following table presents carrying amounts of securities pledged as collateral for deposits and repurchase agreements at the periods presented.



(Dollars in thousands)	March 31, 2024		December 31, 2023
Carrying value of securities pledged to secure public deposits	$	395,574	$	421,273
Carrying value of securities pledged to repurchase agreements	5,210		5,477

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 8 — Derivative Financial Instruments

Risk Management Objective of Using Derivatives

The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments, as well as to manage changes in fair values of some assets which are marked at fair value through the consolidated statement of income on a recurring basis.

Cash Flow Hedges of Interest Rate Risk

The Company is a party to interest rate swap agreements under which the Company receives interest at a variable rate and pays at a fixed rate. The derivative instruments represented by these swap agreements are designated as cash flow hedges of the Company’s forecasted variable cash flows under a variable-rate term borrowing agreements. During the terms of the swap agreements, the effective portion of changes in the fair value of the derivative instruments are recorded in accumulated other comprehensive (loss) income and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affected earnings. There was no ineffective portion of the change in fair value of the derivatives recognized directly in earnings. The entire swap fair value will be reclassified into earnings before the expiration dates of the swap agreements.

Derivatives Not Designated as Hedges

Customer interest rate derivative program

The Company offers certain derivatives products, primarily interest rate swaps, directly to qualified commercial banking customers to facilitate their risk management strategies. In most instances, the Company acts only as an intermediary, simultaneously entering into offsetting agreements with unrelated financial institutions, thereby mitigating its net risk exposure resulting from such transactions without significantly impacting its results of operations. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and any offsetting derivatives are recognized directly in earnings as a component of noninterest income.

From time to time, the Company shares in credit risk on interest rate swap arrangements, by entering into risk participation agreements with syndication partners. These are accounted for at fair value and disclosed as risk participation derivatives.

Mortgage banking derivatives

As part of its mortgage banking and related risk management activities, the Company enters into interest rate lock commitment (“IRLC”) agreements on prospective residential mortgage loans. These IRLCs are derivative financial instruments and the fair value of these IRLCs are included in other assets. The Company also economically hedged the value of MSRs by entering into a series of commitments to purchase mortgage-backed securities in the future and U.S. Treasury Notes.

Fair Values of Derivative Instruments on the Consolidated Balance Sheets


(Dollars in thousands)	Notional Amounts(1)				Fair Values
Derivatives designated as cash flow hedging instruments:	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Interest rate swaps included in other assets	$	10,500	$	10,500	$	882	$	786

Derivatives not designated as hedging instruments:
Interest rate swaps included in other assets	$	367,272	$	363,498	$	21,326	$	18,567
Interest rate swaps included in other liabilities	360,457		356,683		(21,013)		(18,298)
Risk participation agreements included in other liabilities	20,000		20,000		—		(2)
Forward commitments to purchase forward-settling mortgage-backed securities included in other assets	—		9,000		—		91
Forward commitments to purchase treasury notes in other assets	—		22,500		—		822

Interest rate-lock commitments on residential mortgage loans included in other assets	17,585		8,471		509		221
	$	765,314	$	780,152	$	822	$	1,401

____________________________

The weighted-average rates paid and received for interest rate swaps were as follows:


	Weighted-Average Interest Rate
	March 31, 2024				December 31, 2023
Interest rate swaps:	Paid		Received		Paid		Received
Cash flow hedges	4.24	%	8.34	%	4.24	%	8.35	%
Non-hedging interest rate swaps - financial institution counterparties	4.90		7.83		4.88		7.82
Non-hedging interest rate swaps - customer counterparties	7.83		4.90		7.82		4.88

Gains and losses recognized on derivative instruments not designated as hedging instruments are as follows:


(Dollars in thousands)	Three Months Ended March 31,
Derivatives not designated as hedging instruments:	2024		2023
Amount of gain recognized in mortgage banking revenue (1)	$	219	$	665
Amount of gain recognized in other non-interest income	46		11

____________________________

Some interest rate swaps included in other assets were subject to a master netting arrangement with the counterparty in all periods presented and could be offset against some amounts included in interest rate swaps included in other liabilities. The Company has chosen not to net these exposures in the consolidated balance sheets, and any impact of netting these amounts would not be significant.

At March 31, 2024 and December 31, 2023, the Company had cash collateral on deposit with swap counterparties totaling $940,000 and $865,000, respectively. These amounts are included in interest-bearing deposits in banks in the consolidated balance sheets and are considered restricted cash until such time as the underlying swaps are settled.

Loans - Schedule of Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale	$ 14,975		$ 16,852
Total Loans Receivable	7,900,027		7,660,944
Less: Allowance for loan credit losses (“ALCL”)	98,375	$ 92,008	96,868	$ 87,161
LHFI, net	7,801,652		7,564,076
Total loans receivable	7,900,027		7,660,944
Net deferred loan fees	11,400		11,800
Net loan discounts	6	1,617
Real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	5,322,682		5,247,894
Total loans receivable	5,322,682		5,247,894
Real estate \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	2,420,788		2,442,734
Less: Allowance for loan credit losses (“ALCL”)	17,544	20,681	19,625	19,772
Total loans receivable	2,420,788		2,442,734
Real estate \| Construction/land/land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,168,597		1,070,225
Less: Allowance for loan credit losses (“ALCL”)	9,979	8,065	9,990	7,776
Total loans receivable	1,168,597		1,070,225
Real estate \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,733,297		1,734,935
Less: Allowance for loan credit losses (“ALCL”)	10,634	8,520	10,619	8,230
Total loans receivable	1,733,297		1,734,935
Real estate \| Owner occupied commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	948,600		953,800
Total loans receivable	948,600		953,800
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	2,154,151		2,059,460
Less: Allowance for loan credit losses (“ALCL”)	58,823	53,357	55,330	50,148
Total loans receivable	2,154,151		2,059,460
Mortgage warehouse lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	400,995		329,966
Less: Allowance for loan credit losses (“ALCL”)	661	565	529	379
Total loans receivable	400,995		329,966
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	22,199		23,624
Less: Allowance for loan credit losses (“ALCL”)	734	$ 820	775	$ 856
Total loans receivable	$ 22,199		$ 23,624

Loans - Narrative (Details) - USD ($)			3 Months Ended
Loans - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCD loans	$ 32,100,000	$ 34,800,000
Accrued interest	36,200,000		$ 36,200,000	$ 28,500,000
Gross interest income that would have been recorded			6,683,000	2,293,000
Nonaccrual mortgage loans held for sale recorded at fair value	0	0	0
Funding commitments	$ 0	$ 1,600,000	0
Nonperforming Financial Instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross interest income that would have been recorded			394,000	136,000
Interest income			$ 0	$ 0

Fair Value of Financial Instruments - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
MSRs
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Balance at beginning of period	$ 15,637	$ 20,824
Loss recognized in AOCI	0	0
Purchases, issuances, sales and settlements:
Originations	0	149
Sales	(16,087)	(1,806)
Settlements	0	0
Balance at end of period	0	18,261
MSRs \| Mortgage banking revenue
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	450	(906)
MSRs \| Other noninterest income
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	0	0
Securities Available for Sale
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Balance at beginning of period	50,447	55,769
Loss recognized in AOCI	(77)	108
Purchases, issuances, sales and settlements:
Originations	0	0
Sales	0	0
Settlements	(2,121)	(2,054)
Balance at end of period	48,249	53,823
Securities Available for Sale \| Mortgage banking revenue
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	0	0
Securities Available for Sale \| Other noninterest income
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	0	0
Securities at Fair Value Through Income
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Balance at beginning of period	6,808	6,368
Loss recognized in AOCI	0	0
Purchases, issuances, sales and settlements:
Originations	0	0
Sales	0	0
Settlements	0	0
Balance at end of period	6,755	6,413
Securities at Fair Value Through Income \| Mortgage banking revenue
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	0	0
Securities at Fair Value Through Income \| Other noninterest income
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Gain (loss) recognized in earnings	$ (53)	$ 45

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Recorded on a Recurring Basis

The following tables summarize financial assets and financial liabilities recorded at fair value on a recurring basis at March 31, 2024, and December 31, 2023, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. There were no changes in the valuation techniques during 2024 or 2023.


	March 31, 2024
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
State and municipal securities	$	—	$	230,348	$	47,249	$	277,597
Corporate bonds	—		82,247		1,000		83,247
U.S. treasury securities	38,286		—		—		38,286
U.S. government agency securities	—		24,152		—		24,152
Commercial mortgage-backed securities	—		92,740		—		92,740
Residential mortgage-backed securities	—		486,623		—		486,623
Commercial collateralized mortgage obligations	—		41,426		—		41,426
Residential collateralized mortgage obligations	—		126,333		—		126,333
Asset-backed securities	—		20,518		—		20,518
Securities available for sale	38,286		1,104,387		48,249		1,190,922
Securities carried at fair value through income	—		—		6,755		6,755
Loans held for sale	—		14,975		—		14,975


Other assets - derivatives	—		22,717		—		22,717
Total recurring fair value measurements - assets	$	38,286	$	1,142,079	$	55,004	$	1,235,369

Other liabilities - derivatives	$	—	$	(21,013)	$	—	$	(21,013)
Total recurring fair value measurements - liabilities	$	—	$	(21,013)	$	—	$	(21,013)


	December 31, 2023
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
State and municipal securities	$	—	$	232,679	$	49,447	$	282,126
Corporate bonds	—		82,635		1,000		83,635
U.S. treasury securities	55,480		—		—		55,480
U.S. government agency securities	—		24,160		—		24,160
Commercial mortgage-backed securities	—		93,396		—		93,396
Residential mortgage-backed securities	—		506,502		—		506,502
Commercial collateralized mortgage obligations	—		35,183		—		35,183
Residential collateralized mortgage obligations	—		130,144		—		130,144
Asset-backed securities	—		43,005		—		43,005
Securities available for sale	55,480		1,147,704		50,447		1,253,631
Securities carried at fair value through income	—		—		6,808		6,808
Loans held for sale	—		16,852		—		16,852

Mortgage servicing rights	—		—		15,637		15,637
Other assets - derivatives	—		20,487		—		20,487
Total recurring fair value measurements - assets	$	55,480	$	1,185,043	$	72,892	$	1,313,415

Other liabilities - derivatives	$	—	$	(18,300)	$	—	$	(18,300)
Total recurring fair value measurements - liabilities	$	—	$	(18,300)	$	—	$	(18,300)

Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the Three Months Ended March 31, 2024 and 2023, are summarized as follows:


(Dollars in thousands)	MSRs		Securities Available for Sale		Securities at Fair Value Through Income
Balance at January 1, 2024	$	15,637	$	50,447	$	6,808

Gain (loss) recognized in earnings:
Mortgage banking revenue(1)	450		—		—
Other noninterest income	—		—		(53)
Loss recognized in AOCI	—		(77)		—
Purchases, issuances, sales and settlements:
Originations	—		—		—

Sales	(16,087)		—		—

Settlements	—		(2,121)		—
Balance at March 31, 2024	$	—	$	48,249	$	6,755

___________________________

(1)Total mortgage banking revenue includes changes in fair value due to market changes and run-off.


(Dollars in thousands)	MSRs		Securities Available for Sale		Securities at Fair Value Through Income
Balance at January 1, 2023	$	20,824	$	55,769	$	6,368
Gain (loss) recognized in earnings:
Mortgage banking revenue(1)	(906)		—		—
Other noninterest income	—		—		45
Loss recognized in AOCI	—		108		—
Purchases, issuances, sales and settlements:
Originations	149		—		—


Sales	(1,806)		—		—
Settlements	—		(2,054)		—
Balance at March 31, 2023	$	18,261	$	53,823	$	6,413

___________________________

(1)Total mortgage banking revenue includes changes in fair value due to market changes and run-off.

Schedule of Significant Assumptions Used to Value Mortgage Servicing Rights

The significant assumptions used to value MSRs were as follows:


	December 31, 2023
		Range	Weighted Average(1)
Prepayment speeds		7.49% - 8.50%	8.10	%
Discount rates		10.25% - 12.75%	10.31	%

__________________________

(1)The weighted average was calculated with reference to the principal balance of the underlying mortgages.

Schedule of Difference Between Fair Value and the Unpaid Principal Balance for Financial Instruments for which the Fair Value Option has been Elected and Classified in Income Statement

The following tables summarize the difference between the fair value and the unpaid principal balance for financial instruments for which the fair value option has been elected:


	March 31, 2024
(Dollars in thousands)	Aggregate Fair Value		Principal Balance/Amortized Cost		Difference
Loans held for sale(1)	$	14,975	$	14,596	$	379
Securities carried at fair value through income	6,755		6,815		(60)
Total	$	21,730	$	21,411	$	319

____________________________

(1)There were no loans held for sale that were designated as nonaccrual or 90 days or more past due at March 31, 2024.


	December 31, 2023
(Dollars in thousands)	Aggregate Fair Value		Principal Balance/Amortized Cost		Difference
Loans held for sale(1)	$	16,852	$	16,475	$	377


Securities carried at fair value through income	6,808		6,815		(7)
Total	$	23,660	$	23,290	$	370

____________________________

(1)There were no of loans held for sale that were designated as nonaccrual or 90 days or more past due at December 31, 2023.

Changes in the fair value of assets for which the Company elected the fair value option are classified in the consolidated statements of income line items reflected in the following table:


(Dollars in thousands)	Three Months Ended March 31,
Changes in fair value included in noninterest income:	2024		2023
Mortgage banking revenue (loans held for sale)(1)	$	2	$	164
Other income:

Securities carried at fair value through income	(53)		46
Total fair value option impact on noninterest income	$	(51)	$	210

____________________________

(1)The fair value option impact on noninterest income is offset by the derivative gain/loss recognized in noninterest income. Please see Note 6 — Mortgage Banking for more detail.

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments Not Measured at Fair Value

The carrying value and estimated fair values of financial instruments not recorded at fair value are as follows:



(Dollars in thousands)	March 31, 2024				December 31, 2023
Financial assets: Level 1 inputs:	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and cash equivalents	$	291,512	$	291,512	$	280,441	$	280,441
Level 2 inputs:
Non-marketable equity securities held in other financial institutions	53,870		53,870		55,190		55,190
Accrued interest and loan fees receivable	43,508		43,508		41,688		41,688
Level 3 inputs:
Securities held to maturity	11,651		10,956		11,615		10,848
LHFI, net	7,801,652		7,392,695		7,564,076		7,177,720
Financial liabilities:
Level 2 inputs:
Deposits	8,505,464		8,490,801		8,251,125		8,240,520
FHLB advances and other borrowings	13,158		12,685		83,598		83,187
Subordinated indebtedness	160,684		158,149		194,279		186,251
Accrued interest payable	15,943		15,943		12,272		12,272

Loans - Non Performing (Nonaccrual) Loans Held For Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	$ 20,679	$ 11,243
Total Nonaccrual	40,439	30,115
Real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	15,674	6,537
Total Nonaccrual	19,775	14,128
Real estate \| Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	3,006	746
Total Nonaccrual	4,474	786
Real estate \| Construction/land/land development
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	179	96
Total Nonaccrual	383	305
Real estate \| Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	12,489	5,695
Total Nonaccrual	14,918	13,037
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	5,005	4,706
Total Nonaccrual	20,560	15,897
Mortgage warehouse lines of credit
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	0	0
Total Nonaccrual	0	0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss	0	0
Total Nonaccrual	$ 104	$ 90

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 22,632	$ 24,302

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Securities - Securities Pledged as Collateral (Details) - Asset Pledged as Collateral - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Carrying value of securities pledged to secure public deposits
Schedule of Held-to-maturity Securities [Line Items]
Debt securities	$ 395,574	$ 421,273
Carrying value of securities pledged to repurchase agreements
Schedule of Held-to-maturity Securities [Line Items]
Debt securities	$ 5,210	$ 5,477

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock and Incentive Compensation Plans

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock and Incentive Compensation Plans

Note 9 — Stock and Incentive Compensation Plans

The Company has granted, and currently has outstanding, stock and incentive compensation awards subject to the provisions of the Company’s 2012 Stock Incentive Plan (the “2012 Plan”). Additionally, the Company’s stockholders approved the Origin Bancorp, Inc. Omnibus Incentive Plan (“Omnibus Plan”) at the April 24, 2024, Annual Meeting.

The 2012 Plan and the Omnibus Plan (collectively, the “Incentive Plans”) are designed to provide flexibility to the Company regarding its ability to motivate, attract and retain the services of key officers, employees and directors. The Incentive Plans allow the Company to make grants of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock awards (“RSA”), restricted stock units (“RSU”), dividend equivalent rights, performance stock units (“PSU”) or any combination thereof. There were a total maximum of 1,375,000 shares originally reserved for issuance under the Incentive Plans. At March 31, 2024, the maximum number of shares of the Company’s common stock available for issuance under the 2012 Plan was 24,604. The Omnibus Plan, approved in April 2024, allows for the issuance of an additional 675,000 shares, and no future awards may be issued under the 2012 Plan after adoption of the Omnibus Plan.

Additionally, the Company’s stockholders approved an employee stock purchase plan (“ESPP”) which qualified as an ESPP under IRS guidelines. The ESPP provides for the purchase of up to an aggregate one million shares of the Company’s common stock by employees. Under the ESPP, employees of the Company, who elect to participate, have the right to purchase a limited number of shares of the Company’s common stock at a 15% discount from the lower of the market value of the common stock at the beginning or the end of each one year offering period, beginning on June 1st. The ESPP benefit is treated as compensation to the employee, and the compensation expense will be recognized over the service period based on the grant date fair value of the rights determined at the beginning of the purchase period, adjusted for forfeitures and certain modifications. Forfeitures are recognized as they occur. At March 31, 2024, there was $75,000 of total unrecognized compensation cost related to estimated ESPP shares for the June 1, 2023 - May 31, 2024, ESPP offering period. These costs are expected to be recognized over a period of 0.17 years.

The table below includes the weighted-average assumptions used to calculate the grant date fair value of the ESPP rights for the periods indicated using the Black-Scholes option pricing model:



	Three Months Ended March 31,
	2024			2023
Expected term (in years)	1.00			1.00
Dividend yield	$	2.08		$	1.52
Risk-free interest rate	4.94		%	2.00		%
Expected volatility	31.12			32.56

The ESPP shares purchased are as follows for the dates indicated:



	Three Months Ended March 31,
	2024	2023
ESPP shares purchased	—	—

Shares available for issuance under the ESPP	927,698	973,911

The Compensation Committee (“Committee”) has approved and the Company has granted PSUs to select officers and employees under the 2012 Plan. Each PSU represents a right for the participant to receive shares of Company common stock or cash equal to the fair market value of such stock, as determined by the Committee. The number of PSUs to which the participant may be entitled will vary from 0% to 150% of the target number of PSUs, based on the Company’s achievement of specified performance criteria during the performance period compared to performance benchmarks adopted by the Committee and, further, the participant’s continuous service with the Company through the third anniversary of the date of the grant. Each performance period commences on January 1 and ends three years later on December 31 (“Performance Period”).

Share-based compensation cost charged to income for the years ended March 31, 2024 and 2023, is presented below. There was no stock option expense for any of the periods shown.


	Three Months Ended March 31,
(Dollars in thousands)		2024		2023
RSA & RSU		$	1,058	$	1,022
PSU		915		293
ESPP		106		76
Total stock compensation expense		$	2,079	$	1,391
Related tax benefits recognized in net income		$	437	$	292

Restricted Stock and Performance Stock Grants

The Company’s RSAs and RSUs are time-vested awards and are granted to the Company’s Board of Directors, executives and senior management team. The service period in which time-vested awards are earned ranges from one to seven years. Time-vested awards are valued utilizing the fair value of the Company’s stock at the grant date. These awards are recognized on the straight-line method over the requisite service period, with forfeitures recognized as they occur.

The Company’s PSU awards, excluding the CEO PSUs, are three-year cliff-vested awards, with each unit divided into two categories (“ROAA Unit Group” and “ROAE Unit Group”), composed of an equivalent number of initial PSUs granted. The PSU share amounts do not reflect potential increases or decreases resulting from the interim performance results until the final performance results are determined at the end of the three-year period. The ROAA Unit Group is based upon the Company’s Performance Period Return on Average Assets performance, as defined in the award agreement, and the ROAE Unit Group is based upon the Company’s Performance Period Return on Average Equity performance, as defined in the award agreement. The PSUs are initially valued utilizing the fair value of the Company’s stock at the grant date, assuming 100% of the target number of units are achieved. Subsequent valuation of the PSUs is determined using the ratio of the actual Company’s Performance Period ROAA or ROAE to the Company’s targeted Performance Period ROAA or ROAE, applied to the PSUs awarded times the Company’s closing month end stock price for the month immediately preceding the period end date. The determination of whether and to what extent the performance criteria has been satisfied during the applicable Performance Period shall be made by the Compensation Committee, in its sole and absolute discretion. Certain nonrecurring, unusual or infrequent items may be disregarded in the ROAA or ROAE calculation as described further in the PSU award agreement. Forfeitures are recognized as they occur.

The following table summarizes the Company’s award activity:


	Three Months Ended March 31,
	2024			2023
	Shares	Weighted Average Grant-Date Fair Value		Shares	Weighted Average Grant-Date Fair Value
Nonvested RSAs, January 1,	17,629	$	29.33	27,391	$	35.27

Vested RSAs	—	—		(12,840)	37.39

Nonvested RSAs, March 31,	17,629	29.33		14,551	33.59

Nonvested RSUs, January 1,	318,168	$	37.69	270,390	$	39.63
Granted RSUs	8,761	30.43		65,842	40.69


Vested RSUs	(28,088)	41.77		(12,005)	44.77
Forfeited RSUs	—	—		(1,357)	41.41
Nonvested RSUs, March 31,	298,841	37.09		322,870	39.65

Nonvested PSUs, January 1,	197,842	$	28.33	157,367	$	29.06
Granted PSUs	—	—		43,591	37.91
Forfeited PSUs	—	—		(1,592)	37.91
Nonvested PSUs, March 31,	197,842	31.74		199,366	30.50

At March 31, 2024, there was $7,000, $9.1 million and $3.1 million of total unrecognized compensation cost related to nonvested RSA shares, RSU shares and PSU shares under the 2012 Plan, respectively. Those costs are expected to be recognized over a weighted-average period of 0.02, 3.5 and 1.6 years for RSA, RSU and PSU shares, respectively.

Stock Option Grants

The Company has previously issued common stock options to select officers and employees primarily through individual agreements. The exercise price of each option varies by agreement and is based on the fair value of the stock at the date of the grant. No outstanding stock option has a term that exceeds twenty years, and all of the outstanding options are fully vested. The Company recognized compensation cost for stock option grants over the required service period based upon the grant date fair value, which is established using a Black-Scholes valuation model. The Black-Scholes valuation model uses assumptions of risk-free interest rate, expected term of stock options, expected stock price volatility and expected dividends. Forfeitures are recognized as they occur.

In conjunction with the BTH merger, the Company assumed the BTH 2012 Equity Incentive Plan and converted all outstanding options to purchase BTH common stock into options to purchase an aggregate of 611,676 shares of the Company’s common stock. Under the terms of applicable change in control provisions within the BTH 2012 Equity Incentive Plan and BTH Notice Of Stock Option Award, all BTH stock options fully vested immediately prior to the closing of the merger that occurred on August 1, 2022. BTH converted options have no expiration dates past August 16, 2031, and no further grants will be made under the BTH 2012 Equity Incentive Plan.

The table below summarizes the status of the Company’s stock options and changes during the three months ended March 31, 2024 and 2023.


(Dollars in thousands, except per share amounts)	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Three Months Ended March 31, 2024
Outstanding at January 1, 2024	353,473	$	31.49	4.46	$	1,670

Exercised	(7,941)	16.66		—	130
Expired	(2,151)	37.18		—	—
Outstanding and exercisable at March 31, 2024	343,381	31.79		4.04	771

Three Months Ended March 31, 2023
Outstanding at January 1, 2023	504,437	$	29.46	5.13	$	3,736

Exercised	(27,282)	15.62		—	587
Expired	(331)	37.76		—	—
Outstanding and exercisable at March 31, 2023	476,824	30.24		5.00	1,728

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Off-Balance Sheet Financial Instruments

The table below presents the Company’s commitments to extend credit by commitment expiration date for the dates indicated:


(Dollars in thousands) March 31, 2024
	Less than One Year		One-Three Years		Three-Five Years		Greater than Five Years		Total
Commitments to extend credit(1)	$	875,843	$	838,913	$	390,674	$	50,723	$	2,156,153
Standby letters of credit	106,056		46,885		32,957		—		185,898
Total off-balance sheet commitments	$	981,899	$	885,798	$	423,631	$	50,723	$	2,342,051
December 31, 2023
Commitments to extend credit(1)	$	955,486	$	990,690	$	349,918	$	58,954	$	2,355,048
Standby letters of credit	103,280		20,458		32,957		—		156,695
Total off-balance sheet commitments	$	1,058,766	$	1,011,148	$	382,875	$	58,954	$	2,511,743

____________________________

(1)Includes $867.5 million and $759.4 million of unconditionally cancellable commitments at March 31, 2024, and December 31, 2023, respectively.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 5 — Fair Value of Financial Instruments

Fair value is the exchange price that is expected to be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Certain assets and liabilities are recorded in the Company’s consolidated financial statements at fair value. Some are recorded on a recurring basis and some on a nonrecurring basis.

The Company utilizes fair value measurement to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The determination of fair values of financial instruments often requires the use of estimates. In cases where quoted market values in an active market are not available, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach to estimate the fair values of its financial instruments. Such valuation techniques are consistently applied.

A hierarchy for fair value has been established, which categorizes the valuation techniques into three levels used to measure fair value. The three levels are as follows:

Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 - Fair value is based on significant other observable inputs that are generally determined based on a single price for each financial instrument provided to the Company by an unrelated third-party pricing service and is based on one or more of the following:

•Quoted prices for similar, but not identical, assets or liabilities in active markets;

•Quoted prices for identical or similar assets or liabilities in markets that are not active;

•Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; and

•Other inputs derived from or corroborated by observable market inputs.

Level 3 - Prices or valuation techniques that require inputs that are both significant and unobservable in the market. These instruments are valued using the best information available, some of which is internally developed, and reflects the Company’s own assumptions about the risk premiums that market participants would generally require and the assumptions they would use. These estimates can be inherently uncertain.

There were no transfers between fair value reporting levels for any period presented.

Fair Values of Assets and Liabilities Recorded on a Recurring Basis


	March 31, 2024
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
State and municipal securities	$	—	$	230,348	$	47,249	$	277,597
Corporate bonds	—		82,247		1,000		83,247
U.S. treasury securities	38,286		—		—		38,286
U.S. government agency securities	—		24,152		—		24,152
Commercial mortgage-backed securities	—		92,740		—		92,740
Residential mortgage-backed securities	—		486,623		—		486,623
Commercial collateralized mortgage obligations	—		41,426		—		41,426
Residential collateralized mortgage obligations	—		126,333		—		126,333
Asset-backed securities	—		20,518		—		20,518
Securities available for sale	38,286		1,104,387		48,249		1,190,922
Securities carried at fair value through income	—		—		6,755		6,755
Loans held for sale	—		14,975		—		14,975


Other assets - derivatives	—		22,717		—		22,717
Total recurring fair value measurements - assets	$	38,286	$	1,142,079	$	55,004	$	1,235,369

Other liabilities - derivatives	$	—	$	(21,013)	$	—	$	(21,013)
Total recurring fair value measurements - liabilities	$	—	$	(21,013)	$	—	$	(21,013)


	December 31, 2023
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
State and municipal securities	$	—	$	232,679	$	49,447	$	282,126
Corporate bonds	—		82,635		1,000		83,635
U.S. treasury securities	55,480		—		—		55,480
U.S. government agency securities	—		24,160		—		24,160
Commercial mortgage-backed securities	—		93,396		—		93,396
Residential mortgage-backed securities	—		506,502		—		506,502
Commercial collateralized mortgage obligations	—		35,183		—		35,183
Residential collateralized mortgage obligations	—		130,144		—		130,144
Asset-backed securities	—		43,005		—		43,005
Securities available for sale	55,480		1,147,704		50,447		1,253,631
Securities carried at fair value through income	—		—		6,808		6,808
Loans held for sale	—		16,852		—		16,852

Mortgage servicing rights	—		—		15,637		15,637
Other assets - derivatives	—		20,487		—		20,487
Total recurring fair value measurements - assets	$	55,480	$	1,185,043	$	72,892	$	1,313,415

Other liabilities - derivatives	$	—	$	(18,300)	$	—	$	(18,300)
Total recurring fair value measurements - liabilities	$	—	$	(18,300)	$	—	$	(18,300)

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the Three Months Ended March 31, 2024 and 2023, are summarized as follows:


(Dollars in thousands)	MSRs		Securities Available for Sale		Securities at Fair Value Through Income
Balance at January 1, 2024	$	15,637	$	50,447	$	6,808

Gain (loss) recognized in earnings:
Mortgage banking revenue(1)	450		—		—
Other noninterest income	—		—		(53)
Loss recognized in AOCI	—		(77)		—
Purchases, issuances, sales and settlements:
Originations	—		—		—

Sales	(16,087)		—		—

Settlements	—		(2,121)		—
Balance at March 31, 2024	$	—	$	48,249	$	6,755

___________________________

(1)Total mortgage banking revenue includes changes in fair value due to market changes and run-off.


(Dollars in thousands)	MSRs		Securities Available for Sale		Securities at Fair Value Through Income
Balance at January 1, 2023	$	20,824	$	55,769	$	6,368
Gain (loss) recognized in earnings:
Mortgage banking revenue(1)	(906)		—		—
Other noninterest income	—		—		45
Loss recognized in AOCI	—		108		—
Purchases, issuances, sales and settlements:
Originations	149		—		—


Sales	(1,806)		—		—
Settlements	—		(2,054)		—
Balance at March 31, 2023	$	18,261	$	53,823	$	6,413

___________________________

(1)Total mortgage banking revenue includes changes in fair value due to market changes and run-off.

The Company obtains fair value measurements for securities available for sale and securities at fair value through income from an independent pricing service; therefore, quantitative unobservable inputs are unknown.

The following methodologies were used to measure the fair value of financial assets and liabilities valued on a recurring basis:

Securities Available for Sale

Securities classified as available for sale are reported at fair value utilizing Level 1, Level 2 or Level 3 inputs. For Level 1 securities, the Company obtains the fair value measurements for those identical assets from an independent pricing service. For Level 2 securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, market consensus prepayment speeds, credit information and the security's terms and conditions, among other things. In order to ensure the fair values are consistent with ASC 820, Fair Value Measurements and Disclosures, the Company periodically checks the fair value by comparing them to other pricing sources, such as Bloomberg LP. The third-party pricing service is subject to an annual review of internal controls in accordance with the Statement on Standards for Attestation Engagements No. 16, which was made available to the Company. In certain cases where Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. For level 3 securities, the Company determines the fair value of the instruments based on their callability, putability and prepay optionality. Putable instruments are valued at book value, non-putable instruments are priced mainly using a present value calculation based on the spread to the yield curve.

Mortgage Servicing Rights (“MSRs”)

During December 2023 and January 2024, the Company solicited non-binding indications of interest with respect to the proposed sale of substantially all of the Company’s MSR asset. The Company subsequently sold its MSR asset and recorded a $410,000 gain on the sale. There were no MSR assets recognized or recorded during the quarter ended March 31, 2024, and the carrying value of the MSR is zero at March 31, 2024. At December 31, 2023, the carrying amounts of the MSRs equal fair value, which are determined using a discounted cash flow valuation model. The significant assumptions used to value MSRs were as follows:


	December 31, 2023
		Range	Weighted Average(1)
Prepayment speeds		7.49% - 8.50%	8.10	%
Discount rates		10.25% - 12.75%	10.31	%

__________________________

(1)The weighted average was calculated with reference to the principal balance of the underlying mortgages.

There have been significant market-driven fluctuations in the assumptions listed above. Typically, loans with higher average coupon rates have a greater likelihood of prepayment during comparatively low interest rate environments, while loans with lower average coupon rates have a lower likelihood of prepayment. The recent increase in rates has caused a decrease in the weighted average prepayment speed. Estimating these assumptions within ranges that market participants would use in determining the fair value of MSRs requires significant management judgment.

Derivatives

Fair values for interest rate swap agreements and interest rate lock commitments are based upon the amounts that would be required to settle the contracts. Fair values for risk participations and loan sale commitments are based on the fair values of the underlying mortgage loans or securities and the probability of such commitments being exercised. Significant management judgment and estimation is required in determining these fair value measurements.

Fair Values of Assets Recorded on a Recurring Basis for which the Fair Value Option has been Elected

Certain assets are measured at fair value on a recurring basis due to the Company’s election to adopt fair value accounting treatment for those assets. This election allows for a more effective offset of the changes in fair values of the assets and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting under ASC Topic 815, Derivatives and Hedging. For assets for which the fair value has been elected, the earned current contractual interest payment is recognized in interest income. At March 31, 2024, and December 31, 2023, there were no gains or losses recorded attributable to changes in instrument-specific credit risk. The following tables summarize the difference between the fair value and the unpaid principal balance for financial instruments for which the fair value option has been elected:


	March 31, 2024
(Dollars in thousands)	Aggregate Fair Value		Principal Balance/Amortized Cost		Difference
Loans held for sale(1)	$	14,975	$	14,596	$	379
Securities carried at fair value through income	6,755		6,815		(60)
Total	$	21,730	$	21,411	$	319

____________________________

(1)There were no loans held for sale that were designated as nonaccrual or 90 days or more past due at March 31, 2024.


	December 31, 2023
(Dollars in thousands)	Aggregate Fair Value		Principal Balance/Amortized Cost		Difference
Loans held for sale(1)	$	16,852	$	16,475	$	377


Securities carried at fair value through income	6,808		6,815		(7)
Total	$	23,660	$	23,290	$	370

____________________________

(1)There were no of loans held for sale that were designated as nonaccrual or 90 days or more past due at December 31, 2023.

Changes in the fair value of assets for which the Company elected the fair value option are classified in the consolidated statements of income line items reflected in the following table:


(Dollars in thousands)	Three Months Ended March 31,
Changes in fair value included in noninterest income:	2024		2023
Mortgage banking revenue (loans held for sale)(1)	$	2	$	164
Other income:

Securities carried at fair value through income	(53)		46
Total fair value option impact on noninterest income	$	(51)	$	210

____________________________

(1)The fair value option impact on noninterest income is offset by the derivative gain/loss recognized in noninterest income. Please see Note 6 — Mortgage Banking for more detail.

The following methodologies were used to measure the fair value of financial assets valued on a recurring basis for which the fair value option was elected:

Securities at Fair Value through Income

Securities carried at fair value through income are valued using a discounted cash flow with a credit spread applied to each instrument based on the creditworthiness of each issuer. Credit spreads ranged from 83 to 227 basis points at both March 31, 2024, and December 31, 2023. The Company believes the fair value approximates an exit price.

Loans Held for Sale

Fair values for loans held for sale are established using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price.

Fair Value of Assets Recorded on a Nonrecurring Basis

Non-marketable equity securities held in other financial institutions

The majority of the Company’s non-marketable equity securities held in other financial institutions qualify for the practical expedient allowed for equity securities without a readily determinable fair values, such that the Company has elected to carry these securities at cost adjusted for any observable transactions during the period, less any impairment. Non-marketable equity securities held in other financial institutions totaled $53.9 million and $55.2 million at March 31, 2024 and December 31, 2023, respectively, and are shown on the face of the consolidated balance sheets. To date, no impairment has been recorded on the Company's investments in equity securities that do not have readily determinable fair values.

Individually Evaluated Loans with Credit Losses

Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured to determine if any credit loss exists. Allowable methods for determining the amount of credit loss include estimating the fair value using the fair value of the collateral for collateral-dependent loans and a discounted cash flow methodology for other evaluated loans that are not collateral dependent. If the loan is identified as collateral-dependent, the fair value method of measuring the amount of credit loss is utilized. Evaluating the fair value of the collateral for collateral-dependent loans requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. If the loan is not collateral-dependent, the discounted cash flow method is utilized, which involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. Loans that have experienced a credit loss with specific allocated losses are within Level 3 of the fair value hierarchy when the credit loss is determined using the fair value method. The fair value of collateral-dependent loans that have specific allocated reserves was approximately $3.9 million and $3.8 million at March 31, 2024, and December 31, 2023, respectively.

Non-Financial Assets

Foreclosed assets held for sale are the only non-financial assets valued on a nonrecurring basis that are initially recorded by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the ALCL. Additionally, valuations are periodically performed by management, and any subsequent reduction in value is recognized by a charge to income. The carrying value and fair value of foreclosed assets held for sale was estimated using Level 3 inputs based on observable market data and was $3.9 million at both March 31, 2024, and December 31, 2023. At March 31, 2024, and December 31, 2023, the Company had $944,000 and zero, respectively, principal amounts of residential mortgage loans in the process of foreclosure.

Fair Values of Financial Instruments Not Recorded at Fair Value

Loans

The estimated fair value approximates carrying value for variable-rate loans that reprice frequently and with no significant change in credit risk. The fair value of fixed rate loans and variable-rate loans, which reprice on an infrequent basis, is estimated by discounting future cash flows using exit level pricing, which combines the current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality and an estimated additional rate to reflect a liquidity premium. An overall valuation adjustment is made for specific credit risks as well as general portfolio credit risk.

Deposits

The estimated fair value approximates carrying value for demand deposits. The fair value of fixed rate deposit liabilities with defined maturities is estimated by discounting future cash flows using the interest rates currently available for funding from the FHLB. The estimated fair value of deposits does not take into account the value of our long-term relationships with depositors, commonly known as core deposit intangibles, which are separate intangible assets, and not considered financial instruments. Nonetheless, the Company would likely realize a core deposit premium if the deposit portfolio were sold in the principal market for such deposits.

Borrowed Funds

The estimated fair value approximates carrying value for short-term borrowings. The fair value of long-term fixed rate and fixed-to-floating-rate borrowings is estimated using quoted market prices, if available, or by discounting future cash flows using current interest rates for similar financial instruments. The estimated fair value approximates carrying value for variable-rate junior subordinated debentures that reprice quarterly.

The carrying value and estimated fair values of financial instruments not recorded at fair value are as follows:



(Dollars in thousands)	March 31, 2024				December 31, 2023
Financial assets: Level 1 inputs:	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and cash equivalents	$	291,512	$	291,512	$	280,441	$	280,441
Level 2 inputs:
Non-marketable equity securities held in other financial institutions	53,870		53,870		55,190		55,190
Accrued interest and loan fees receivable	43,508		43,508		41,688		41,688
Level 3 inputs:
Securities held to maturity	11,651		10,956		11,615		10,848
LHFI, net	7,801,652		7,392,695		7,564,076		7,177,720
Financial liabilities:
Level 2 inputs:
Deposits	8,505,464		8,490,801		8,251,125		8,240,520
FHLB advances and other borrowings	13,158		12,685		83,598		83,187
Subordinated indebtedness	160,684		158,149		194,279		186,251
Accrued interest payable	15,943		15,943		12,272		12,272

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38487
Entity Registrant Name	Origin Bancorp, Inc.
Entity Incorporation, State or Country Code	LA
Entity Tax Identification Number	72-1192928
Entity Address, Address Line One	500 South Service Road East
Entity Address, City or Town	Ruston
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	71270
City Area Code	318
Local Phone Number	255-2222
Title of 12(b) Security	Common Stock, par value $5.00 per share
Trading Symbol	OBK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		31,014,945
Amendment Flag	false
Current Fiscal Year Focus	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity CIK	0001516912

Fair Value of Financial Instruments - Fair Value of Assets and Liabilities Recorded on a Recurring Basis (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 1,190,922,000	$ 1,253,631,000
Securities carried at fair value through income	6,755,000	6,808,000
Mortgage servicing rights	0	15,637,000	$ 18,261,000	$ 20,824,000
State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	277,597,000	282,126,000
Securities carried at fair value through income	6,755,000	6,808,000
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	83,247,000	83,635,000
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	92,740,000	93,396,000
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	486,623,000	506,502,000
Commercial collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	41,426,000	35,183,000
Residential collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	126,333,000	130,144,000
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,518,000	43,005,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,190,922,000	1,253,631,000
Securities carried at fair value through income	6,755,000	6,808,000
Loans held for sale	14,975,000	16,852,000
Mortgage servicing rights		15,637,000
Other assets - derivatives	22,717,000	20,487,000
Total recurring fair value measurements - assets	1,235,369,000	1,313,415,000
Other liabilities - derivatives	(21,013,000)	(18,300,000)
Total recurring fair value measurements - liabilities	(21,013,000)	(18,300,000)
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	38,286,000	55,480,000
Securities carried at fair value through income	0	0
Loans held for sale	0	0
Mortgage servicing rights		0
Other assets - derivatives	0	0
Total recurring fair value measurements - assets	38,286,000	55,480,000
Other liabilities - derivatives	0	0
Total recurring fair value measurements - liabilities	0	0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,104,387,000	1,147,704,000
Securities carried at fair value through income	0	0
Loans held for sale	14,975,000	16,852,000
Mortgage servicing rights		0
Other assets - derivatives	22,717,000	20,487,000
Total recurring fair value measurements - assets	1,142,079,000	1,185,043,000
Other liabilities - derivatives	(21,013,000)	(18,300,000)
Total recurring fair value measurements - liabilities	(21,013,000)	(18,300,000)
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	48,249,000	50,447,000
Securities carried at fair value through income	6,755,000	6,808,000
Loans held for sale	0	0
Mortgage servicing rights		15,637,000
Other assets - derivatives	0	0
Total recurring fair value measurements - assets	55,004,000	72,892,000
Other liabilities - derivatives	0	0
Total recurring fair value measurements - liabilities	0	0
Fair Value, Measurements, Recurring \| State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	277,597,000	282,126,000
Fair Value, Measurements, Recurring \| State and municipal securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| State and municipal securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	230,348,000	232,679,000
Fair Value, Measurements, Recurring \| State and municipal securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	47,249,000	49,447,000
Fair Value, Measurements, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	83,247,000	83,635,000
Fair Value, Measurements, Recurring \| Corporate bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Corporate bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	82,247,000	82,635,000
Fair Value, Measurements, Recurring \| Corporate bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,000,000	1,000,000
Fair Value, Measurements, Recurring \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	38,286,000	55,480,000
Fair Value, Measurements, Recurring \| U.S. treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	38,286,000	55,480,000
Fair Value, Measurements, Recurring \| U.S. treasury securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| U.S. treasury securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	24,152,000	24,160,000
Fair Value, Measurements, Recurring \| U.S. government agency securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| U.S. government agency securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	24,152,000	24,160,000
Fair Value, Measurements, Recurring \| U.S. government agency securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	92,740,000	93,396,000
Fair Value, Measurements, Recurring \| Commercial mortgage-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Commercial mortgage-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	92,740,000	93,396,000
Fair Value, Measurements, Recurring \| Commercial mortgage-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	486,623,000	506,502,000
Fair Value, Measurements, Recurring \| Residential mortgage-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Residential mortgage-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	486,623,000	506,502,000
Fair Value, Measurements, Recurring \| Residential mortgage-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Commercial collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	41,426,000	35,183,000
Fair Value, Measurements, Recurring \| Commercial collateralized mortgage obligations \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Commercial collateralized mortgage obligations \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	41,426,000	35,183,000
Fair Value, Measurements, Recurring \| Commercial collateralized mortgage obligations \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Residential collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	126,333,000	130,144,000
Fair Value, Measurements, Recurring \| Residential collateralized mortgage obligations \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Residential collateralized mortgage obligations \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	126,333,000	130,144,000
Fair Value, Measurements, Recurring \| Residential collateralized mortgage obligations \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,518,000	43,005,000
Fair Value, Measurements, Recurring \| Asset-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Fair Value, Measurements, Recurring \| Asset-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,518,000	43,005,000
Fair Value, Measurements, Recurring \| Asset-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	$ 0

Mortgage Banking - Mortgage Banking Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Mortgage Banking [Abstract]
Origination	$ 108	$ 111
Gain on sale of loans held for sale	964	609
Originations of MSRs	0	149
Servicing	654	989
Total gross mortgage revenue	1,726	1,858
MSR valuation adjustments, net	450	(906)
Gain on sale of MSR	410	0
Mortgage HFS and pipeline fair value adjustment	291	440
MSR hedge impact	(479)	389
Mortgage banking revenue	$ 2,398	$ 1,781

Stock and Incentive Compensation Plans - Time-vested Award Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
RSAs
Shares
Nonvested shares, beginning balance (in shares)	17,629	27,391
Vested (in shares)	0	(12,840)
Nonvested shares, ending balance (in shares)	17,629	14,551
Weighted Average Grant-Date Fair Value
Nonvested shares, beginning balance (in dollars per share)	$ 29.33	$ 35.27
Vested (in dollars per share)	0	37.39
Nonvested shares, ending balance (in dollars per share)	$ 29.33	$ 33.59
RSUs
Shares
Nonvested shares, beginning balance (in shares)	318,168	270,390
Granted (in shares)	8,761	65,842
Vested (in shares)	(28,088)	(12,005)
Forfeited (in shares)	0	(1,357)
Nonvested shares, ending balance (in shares)	298,841	322,870
Weighted Average Grant-Date Fair Value
Nonvested shares, beginning balance (in dollars per share)	$ 37.69	$ 39.63
Granted (in dollars per share)	30.43	40.69
Vested (in dollars per share)	41.77	44.77
Forfeited (in dollars per share)	0	41.41
Nonvested shares, ending balance (in dollars per share)	$ 37.09	$ 39.65
PSUs
Shares
Nonvested shares, beginning balance (in shares)	197,842	157,367
Granted (in shares)	0	43,591
Forfeited (in shares)	0	(1,592)
Nonvested shares, ending balance (in shares)	197,842	199,366
Weighted Average Grant-Date Fair Value
Nonvested shares, beginning balance (in dollars per share)	$ 28.33	$ 29.06
Granted (in dollars per share)	0	37.91
Forfeited (in dollars per share)	0	37.91
Nonvested shares, ending balance (in dollars per share)	$ 31.74	$ 30.50

Derivative Financial Instruments - Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain on sale of MSR	$ 410	$ 0
Amount of gain recognized in mortgage banking revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized on derivatives not designated as hedging instruments	219	665
Amount of gain recognized in other non-interest income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized on derivatives not designated as hedging instruments	$ 46	$ 11

Loans - Loan Portfolio Aging Analysis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	$ 7,900,027	$ 7,660,944
Accruing Loans 90 or More Days Past Due	0	0
Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	32,835	26,043
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	11,044	12,574
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	11,330	2,076
Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	10,461	11,393
Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	7,867,192	7,634,901
Real estate
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	5,322,682	5,247,894
Accruing Loans 90 or More Days Past Due	0	0
Real estate \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	16,913	18,479
Real estate \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	9,801	11,153
Real estate \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	986	1,353
Real estate \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	6,126	5,973
Real estate \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	5,305,769	5,229,415
Real estate \| Commercial real estate
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,420,788	2,442,734
Accruing Loans 90 or More Days Past Due	0	0
Real estate \| Commercial real estate \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	3,363	2,264
Real estate \| Commercial real estate \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,477	2,264
Real estate \| Commercial real estate \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	307	0
Real estate \| Commercial real estate \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	579	0
Real estate \| Commercial real estate \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,417,425	2,440,470
Real estate \| Construction/land/land development
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,168,597	1,070,225
Accruing Loans 90 or More Days Past Due	0	0
Real estate \| Construction/land/land development \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	255	874
Real estate \| Construction/land/land development \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	132	834
Real estate \| Construction/land/land development \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	27
Real estate \| Construction/land/land development \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	123	13
Real estate \| Construction/land/land development \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,168,342	1,069,351
Real estate \| Residential real estate
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,733,297	1,734,935
Accruing Loans 90 or More Days Past Due	0	0
Real estate \| Residential real estate \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	13,295	15,341
Real estate \| Residential real estate \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	7,192	8,055
Real estate \| Residential real estate \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	679	1,326
Real estate \| Residential real estate \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	5,424	5,960
Real estate \| Residential real estate \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,720,002	1,719,594
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,154,151	2,059,460
Accruing Loans 90 or More Days Past Due	0	0
Commercial and Industrial \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	15,705	7,351
Commercial and Industrial \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,044	1,221
Commercial and Industrial \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	10,331	713
Commercial and Industrial \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	4,330	5,417
Commercial and Industrial \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,138,446	2,052,109
Mortgage warehouse lines of credit
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	400,995	329,966
Accruing Loans 90 or More Days Past Due	0	0
Mortgage warehouse lines of credit \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Mortgage warehouse lines of credit \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Mortgage warehouse lines of credit \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Mortgage warehouse lines of credit \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Mortgage warehouse lines of credit \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	400,995	329,966
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	22,199	23,624
Accruing Loans 90 or More Days Past Due	0	0
Consumer \| Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	217	213
Consumer \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	199	200
Consumer \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	13	10
Consumer \| Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	5	3
Consumer \| Current Loans
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	$ 21,982	$ 23,411