Please wait


For Immediate Release
obnklogoa52a.jpg
ORIGIN BANCORP, INC. REPORTS EARNINGS FOR FIRST QUARTER 2026
RUSTON, Louisiana (April 22, 2026) - Origin Bancorp, Inc. (NYSE: OBK) (“Origin,” “we,” “our” or the “Company”), the holding company for Origin Bank (the “Bank”), today announced net income of $27.7 million, or $0.89 diluted earnings per share (“EPS”) for the quarter ended March 31, 2026, compared to net income of $29.5 million, or $0.95 diluted EPS, for the quarter ended December 31, 2025. Pre-tax, pre-provision (“PTPP”)(1) earnings were $40.2 million for the quarter ended March 31, 2026, compared to $40.6 million for the linked quarter.
“I am proud of our results this quarter and the strategic path that we are on as we continue to Optimize Origin in all that we do,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “We have been deliberate in building a business that can deliver strong, long-term performance, and the first quarter is another example of that progress.”

(1) PTPP earnings is a non-GAAP financial measure, please see the last few pages of this document for a reconciliation of this alternative financial measure to its most directly comparable GAAP measure.
Optimize Origin
•In January 2025, we announced our Optimize Origin initiative to drive elite financial performance and enhance our award-winning culture, and it continues to be an important part of our corporate DNA.
•Built on three primary pillars:
◦Productivity, Delivery & Efficiency
◦Balance Sheet Optimization
◦Culture & Employee Engagement
•As announced in our Fourth Quarter and Full Year 2025 Earnings Release, we updated our near term ROAA run rate target to 1.15% or higher by 4Q26, as we continue towards our ultimate target of a top quartile ROAA.
Financial Highlights
•Net interest income was $87.2 million for the quarter ended March 31, 2026, reflecting an increase of $550,000, or 0.6%, compared to the linked quarter and is at its highest level ever recorded.
•Our fully tax equivalent net interest margin (“NIM-FTE”) declined two basis points to 3.71% for the quarter ended March 31, 2026, compared to the quarter ended December 31, 2025. Our net interest spread increased to 2.89%, or nine basis points, compared to the linked quarter and is at its highest level since the quarter ended December 31, 2022.
•Annualized ROAA was 1.11% for the quarter ended March 31, 2026, reflecting a decrease of eight basis points, compared to the quarter ended December 31, 2025.
•Total loans held for investment (“LHFI”) were $7.86 billion at March 31, 2026, reflecting an increase of $193.3 million, or 2.5%, compared to December 31, 2025. LHFI, excluding mortgage warehouse lines of credit (“mortgage warehouse LOC”), were $7.34 billion at March 31, 2026, reflecting an increase of $199.8 million, or 2.8%, compared to December 31, 2025.
1

•Total deposits were $8.76 billion at March 31, 2026, reflecting an increase of $449.0 million, or 5.4%, compared to December 31, 2025, which includes an increase in interest-bearing deposits of $215.0 million that were repurchased on January 2, 2026, immediately following the sale of such deposits on December 31, 2025.
•During the quarter ended March 31, 2026, we repurchased 165,500 shares of our common stock at an average price of $41.27 per share, including commissions and applicable excise taxes.
•During April 2026, our board approved an increase in our quarterly dividend from $0.15 to $0.25 per share, a 67% increase, reflecting balance sheet strength and earnings durability.
Results of Operations for the Quarter Ended March 31, 2026
Net Interest Income and Net Interest Margin
Net interest income for the quarter ended March 31, 2026, was $87.2 million, an increase of $550,000, or 0.6%, compared to the quarter ended December 31, 2025. The expansion in net interest income was primarily driven by a $3.9 million decrease in interest expense, mainly offset by a $3.3 million decrease in interest income.
The $3.9 million decrease in interest expense was mainly attributable to reductions of $2.3 million and $1.1 million in interest expense on money market deposit and subordinated debentures, respectively. The reduction in interest expense on money market deposits was primarily due to lower interest rates, as the average interest rate paid on money market deposits declined 22 basis points to 2.88%, from 3.10% for the quarter ended December 31, 2025. The lower interest expense on subordinated debentures was primarily attributable to the redemption of $74.0 million of subordinated debentures during the quarter ended December 31, 2025.
The $3.3 million decrease in interest income was primarily due to a $5.1 million decrease in interest income on loans held for investment, partially offset by a $2.0 million increase in interest income on interest-earning balances due from banks. The decrease in interest income on loans held for investment was mainly attributable to lower yields and two fewer calendar days, which reduced interest income by $3.1 million and $2.5 million, respectively, partially offset by higher average balances. Of the $3.1 million decrease in interest income attributable to lower yields, $1.4 million, $906,000 and $500,000 were attributable to commercial and industrial, commercial real estate, and multifamily residential real estate loans, respectively. Average balances in loans held for investment increased by $24.2 million to $7.64 billion, from $7.61 billion during the quarter ended December 31, 2025. The increase in interest income on interest-earning balances due from banks was primarily driven by higher average balances, which increased to $714.0 million, from $435.2 million for the quarter ended December 31, 2025, as deposit growth outpaced loan originations.
The Federal Reserve Board sets various benchmark rates, including the federal funds rate, and thereby influences the general market rates of interest, including loan and deposit rates offered by financial institutions. On October 29, 2025, and December 10, 2025, the Federal Reserve Board reduced the federal funds target rate range by 25 basis points each, to a range of 3.50% to 3.75%, and has maintained the federal funds target rate unchanged since December 10, 2025.
Our NIM-FTE was 3.71% for the quarter ended March 31, 2026, representing a two-basis point decrease and a 27-basis-point increase compared to the linked quarter and the quarter ended March 31, 2025, respectively. The two-basis point decrease was primarily due to a shift in earning-asset mix. The yield earned on interest-earning assets was 5.56%, representing decreases of 20- and 23-basis points compared to the linked quarter and the quarter ended March 31, 2025, respectively. The average rate paid on total interest-bearing liabilities was 2.67%, representing a reduction of 29- and 63-basis points compared to the linked quarter and the quarter ended March 31, 2025, respectively.
2

Credit Quality
The table below includes key credit quality information:
At and For the Three Months EndedChange% Change
(Dollars in thousands, unaudited)March 31,
 2026		December 31,
 2025		March 31,
 2025		Linked
 Quarter		Linked
 Quarter
Past due 30 to 89 days and still accruing$17,624 $14,764 $42,587 $2,860 19.4 %
Allowance for loan credit losses (“ALCL”)
99,015 96,782 92,011 2,233 2.3 
Total nonperforming LHFI87,266 81,184 81,368 6,082 7.5 
Provision for credit losses4,965 3,158 3,444 1,807 57.2 
Net charge-offs2,777 3,170 2,728 (393)(12.4)
Credit quality ratios(1):
ALCL to nonperforming LHFI113.46 %119.21 %113.08 %(5.75)%N/A
ALCL to total LHFI1.26 1.26 1.21 — N/A
ALCL to total LHFI, adjusted(2)
1.34 1.34 1.28 — N/A
Nonperforming LHFI to LHFI1.11 1.06 1.07 0.05 N/A
Net charge-offs to total average LHFI (annualized)0.15 0.17 0.15 (0.02)N/A
___________________________
N/A = Not applicable.
(1)Please see the Loan Data schedule at the back of this document for additional information.
(2)The ALCL to total LHFI, adjusted, is calculated by excluding the ALCL for mortgage warehouse LOC loans from the total LHFI ALCL in the numerator and excluding the mortgage warehouse LOC loans from the LHFI in the denominator. Due to their low-risk profile, mortgage warehouse LOC loans require a disproportionately low allocation of the ALCL.
Our results included a provision for loan credit losses of $5.0 million during the quarter ended March 31, 2026, compared to $3.7 million for the linked quarter. The increase was primarily the result of portfolio migration during the quarter ended March 31, 2026. The ALCL totaled $99.0 million as of March 31, 2026, a $2.2 million increase compared to the ALCL as of December 31, 2025, and as a percent of total LHFI was unchanged.
Total nonperforming LHFI increased $6.1 million at March 31, 2026, when compared to December 31, 2025. The increase in nonperforming LHFI was driven by increases in the real estate secured sectors of commercial real estate and construction/land/land development offset by reductions in the sectors of single-family residential real estate and commercial and industrial.
Past due 30 to 89 days and still accruing increased $2.9 million at March 31, 2026, when compared to December 31, 2025 and represented 0.22% of total LHFI, compared to 0.19% as of December 31, 2025. The increase of 30 to 89 days and still accruing past dues was primarily driven by the increases of $1.8 million in the single-family residential real estate sector and increases of $1.2 million in each of the commercial and industrial and multifamily residential real estate sectors, offset by a $1.1 million reduction in the commercial real estate sector.
Noninterest Income
Noninterest income for the quarter ended March 31, 2026, was $16.8 million, an increase of $59,000 from the linked quarter, primarily driven by an increase of $3.7 million in insurance commission and fee income, which was largely offset by a decrease of $3.4 million in equity method investment (loss) income.
The $3.7 million increase in insurance commission and fee income was primarily driven by seasonality in annual renewals and annual contingency fee income recognized in the first quarter.
The $3.4 million decrease in equity method investment (loss) income was primarily driven by a $3.2 million downward adjustment in two limited partnership investments during the current quarter, compared to smaller adjustments recorded in the linked quarter.
3

The components of equity method investment income are as follows:
At and For the Three Months Ended$ Change% Change
(Dollars in thousands, unaudited)March 31,
 2026		December 31,
 2025		March 31,
 2025		Linked
 Quarter		Linked
 Quarter
Argent investment income$1,754 $1,980 $— $(226)(11.4)%
Limited partnership investment loss(3,271)(121)(1,692)(3,150)N/M
Total equity method investment (loss) income$(1,517)$1,859 $(1,692)$(3,376)(181.6)%
___________________________
N/M = Not meaningful
Noninterest Expense
Noninterest expense for the quarter ended March 31, 2026, was $63.8 million, an increase of $974,000, or 1.6% from the linked quarter. The increase was primarily due to an increase of $1.4 million in salaries and employee benefits expense.
The $1.4 million increase in salaries and employee benefits was driven by a $1.7 million increase in incentive compensation expense, including stock based incentive compensation in the current quarter.
Financial Condition
Loans
•Total LHFI at March 31, 2026, were $7.86 billion, an increase of $193.3 million, or 2.5%, from $7.67 billion at December 31, 2025, and an increase of $278.7 million, or 3.7%, compared to March 31, 2025.
•Excluding mortgage warehouse LOC, LHFI increased $199.8 million, or 2.8%, from December 31, 2025. The increase was primarily driven by increases of $183.9 million and $30.1 million in commercial and industrial loans and construction/land/land development loans, respectively.
Securities
•Total securities at March 31, 2026 were $1.17 billion, an increase of $34.2 million, or 3.0%, from $1.13 billion at December 31, 2025, and a decrease of $10.8 million, or 0.9%, compared to March 31, 2025.
•Accumulated other comprehensive loss, net of taxes, primarily associated with unrealized losses within the available for sale portfolio, was $60.8 million at March 31, 2026, an increase of $6.7 million, or 12.4%, from the linked quarter and a decrease of $29.6 million, or 32.7%, from March 31, 2025.
•The weighted average effective duration for the total securities portfolio was 4.14 years as of March 31, 2026, compared to 4.15 years as of December 31, 2025.
Deposits
•Total deposits at March 31, 2026, were $8.76 billion, an increase of $449.0 million, or 5.4%, compared to December 31, 2025, and an increase of $417.9 million, or 5.0%, from March 31, 2025. $215.0 million of the increase compared to the linked quarter is related to interest-bearing deposits that were repurchased on January 2, 2026, immediately following the sale of such deposits on December 31, 2025.
•At March 31, 2026, and December 31, 2025, noninterest-bearing deposits as a percentage of total deposits were 23.6% and 23.8%, respectively. At March 31, 2025, noninterest-bearing deposits as a percentage of total deposits were 22.7%.
Subordinate debentures
•Total subordinated debentures at March 31, 2026, were $16.6 million, a decrease of $73.0 million, or 81.5%, compared to March 31, 2025, due to the redemption of $74.0 million in subordinated debentures during the quarter ended December 31, 2025, in conjunction with our Optimize Origin initiative.
4

Capital
•Total capital at March 31, 2026, was $1.26 billion, an increase of $13.6 million, or 1.1%, compared to December 31, 2025, and an increase of $80.1 million, or 6.8%, from March 31, 2025.
•Uses of regulatory capital since the beginning of 2025 consist of the following:
◦Repurchased 616,505 shares of our common stock at an average price of $36.72 per share, for a total of $22.6 million, including commissions and applicable excise taxes. There was $31.7 million remaining available for repurchases at March 31, 2026.
◦Redeemed $143.6 million of subordinated debentures, including the amortization of the original issue discount and fair value mark.
◦Declared $23.7 million in dividends to our stockholders.
Conference Call
Origin will hold a conference call to discuss its first quarter 2026 results on Thursday, April 23, 2026, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). To participate in the live conference call, please dial +1 (929) 272-1574 (U.S. Local / International 1); +1 (857) 999-3259 (U.S. Local / International 2); +1 (888) 700-7550 (U.S. Toll Free), enter Conference ID: 12997 and request to be joined into the Origin Bancorp, Inc. (OBK) call. A simultaneous audio-only webcast may be accessed via Origin’s website at www.origin.bank under the Investor Relations, News & Events, Events & Presentations link or directly by visiting https://dealroadshow.com/e/ORIGIN1Q26.
If you are unable to participate during the live webcast, the webcast will be archived on the Investor Relations section of Origin’s website at www.origin.bank, under Investor Relations, News & Events, Events & Presentations.
About Origin
Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 57 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, South Alabama and the Florida Panhandle. In addition, Origin provides a broad range of insurance agency products and services through its wholly owned insurance agency subsidiary, Forth Insurance, LLC. For more information, visit www.origin.bank and www.forthinsurance.com.
Non-GAAP Financial Measures
Origin reports its results in accordance with generally accepted accounting principles in the United States of America ("GAAP"). However, management believes that certain supplemental non-GAAP financial measures may provide meaningful information to investors that is useful in understanding Origin's results of operations and underlying trends in its business. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Origin's reported results prepared in accordance with GAAP. The following are the non-GAAP measures used in this release: PTPP earnings, PTPP ROAA, tangible book value per common share, and ROATCE.
Please see the last few pages of this release for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.
5

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin Bancorp, Inc’s (“Origin”, “we”, “our” or the “Company”) future financial performance, business and growth strategies, projected plans and objectives, and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including changes to interest rates by the Federal Reserve and the resulting impact on Origin’s results of operations, estimated forbearance amounts and expectations regarding the Company’s liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin’s control. Statements or statistics preceded by, followed by or that otherwise include the words “assumes,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “projects,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will,” and “would” and variations of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Further, certain factors that could affect Origin’s future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: (1) the impact of current and future economic conditions generally and in the financial services industry, nationally and within Origin’s primary market areas, including the impact of tariffs, as well as the financial stress on borrowers and changes to customer and client behavior as a result of the foregoing; (2) changes in benchmark interest rates and the resulting impacts on net interest income; (3) deterioration of Origin’s asset quality; (4) factors that can impact the performance of Origin’s loan portfolio, including real estate values and liquidity in Origin’s primary market areas; (5) the financial health of Origin’s commercial borrowers and the success of construction projects that Origin finances; (6) changes in the value of collateral securing Origin’s loans; (7) the impact of generative artificial intelligence; (8) Origin’s ability to anticipate interest rate changes and manage interest rate risk; (9) the impact of heightened regulatory requirements, reduced debit interchange and overdraft income and the possibility of facing related adverse business consequences if our total assets grow in excess of $10 billion as of December 31 of any calendar year; (10) the effectiveness of Origin’s risk management framework and quantitative models; (11) Origin’s inability to receive dividends from Origin Bank and to service debt, pay dividends to Origin’s common stockholders, repurchase Origin’s shares of common stock and satisfy obligations as they become due; (12) the impact of labor pressures; (13) changes in Origin’s operation or expansion strategy or Origin’s ability to prudently manage its growth and execute its strategy; (14) changes in management personnel; (15) Origin’s ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; (16) increasing costs as Origin grows deposits; (17) operational risks associated with Origin’s business; (18) significant turbulence or a disruption in the capital or financial markets and the effect of market disruption and interest rate volatility on our investment securities; (19) increased competition in the financial services industry, particularly from regional and national institutions, as well as from fintech companies; (20) compliance with governmental and regulatory requirements and changes in laws, rules, regulations, interpretations or policies relating to financial institutions; (21) periodic changes to the extensive body of accounting rules and best practices; (22) further government intervention in the U.S. financial system; (23) a deterioration of the credit rating for U.S. long-term sovereign debt; (24) Origin’s ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; (25) natural disasters and other adverse weather events, pandemics, acts of terrorism, war, and other matters beyond Origin’s control; (26) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; (27) fraud or misconduct by internal or external actors (including Origin employees); (28) cybersecurity threats or security breaches and the cost of defending against them; (29) Origin’s ability to maintain adequate internal controls over financial and non-financial reporting; and (30) potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions. For a discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Origin’s most recent and future Annual Reports on Form 10-K filed with the Securities and Exchange Commission and any updates to those sections set forth in Origin’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Origin’s underlying assumptions prove to be incorrect, actual results may differ materially from what Origin anticipates. Accordingly, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Origin does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
6

New risks and uncertainties arise from time to time, and it is not possible for Origin to predict those events or how they may affect Origin. In addition, Origin cannot assess the impact of each factor on Origin’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Origin or persons acting on Origin’s behalf may issue. Annualized, pro forma, adjusted, projected, and estimated numbers are used for illustrative purposes only, are not forecasts, and may not reflect actual results.
This press release contains projected financial information with respect to Origin, including with respect to certain goals and strategic initiatives of Origin and the anticipated benefits thereof. This projected financial information constitutes forward-looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to significant business, economic (including interest rate), competitive, and other risks and uncertainties. Actual results may differ materially from the results contemplated by the projected financial information contained herein and the inclusion of such projected financial information in this release should not be regarded as a representation by any person that such actions will be taken or accomplished or that the results reflected in such projected financial information with respect thereto will be achieved.

Contact:
Investor Relations
Chris Reigelman
318-497-3177
chris@origin.bank
Media Contact
Ryan Kilpatrick
318-232-7472
rkilpatrick@origin.bank
7
Origin Bancorp, Inc.
Selected Quarterly Financial Data
(Unaudited)


Three Months Ended
March 31,
 2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
Income statement and share amounts (Dollars in thousands, except per share amounts)
Net interest income
$87,244 $86,694 $83,704 $82,136 $78,459 
Provision for credit losses4,965 3,158 36,820 2,862 3,444 
Noninterest income16,795 16,736 26,128 1,368 15,602 
Noninterest expense63,797 62,823 62,028 61,983 62,068 
Income before income tax expense
35,277 37,449 10,984 18,659 28,549 
Income tax expense7,584 7,933 2,361 4,012 6,138 
Net income
$27,693 $29,516 $8,623 $14,647 $22,411 
PTPP earnings(1)
$40,242 $40,607 $47,804 $21,521 $31,993 
Basic earnings per common share
0.89 0.95 0.28 0.47 0.72 
Diluted earnings per common share0.89 0.95 0.27 0.47 0.71 
Dividends declared per common share0.15 0.15 0.15 0.15 0.15 
Weighted average common shares outstanding - basic
30,942,565 30,964,128 31,183,092 31,192,622 31,205,752 
Weighted average common shares outstanding - diluted
31,203,348 31,168,548 31,363,571 31,327,818 31,412,010 
Balance sheet data
Total LHFI
$7,864,221 $7,670,917 $7,537,099 $7,684,446 $7,585,526 
Total LHFI excluding mortgage warehouse LOC7,341,931 7,142,136 7,064,131 7,109,698 7,181,395 
Total assets
10,188,144 9,724,722 9,791,306 9,678,158 9,750,372 
Total deposits8,756,268 8,307,247 8,331,830 8,123,036 8,338,412 
Total stockholders’ equity1,260,275 1,246,685 1,214,756 1,205,769 1,180,177 
Performance metrics and capital ratios
Yield on LHFI6.06 %6.22 %6.33 %6.33 %6.33 %
Yield on interest-earning assets5.56 5.76 5.89 5.87 5.79 
Cost of interest-bearing deposits2.66 2.90 3.20 3.20 3.23 
Cost of total deposits2.05 2.20 2.46 2.47 2.52 
NIM - fully tax equivalent ("FTE")3.71 3.73 3.65 3.61 3.44 
Return on average assets (annualized) ("ROAA")1.11 1.19 0.35 0.60 0.93 
PTPP ROAA (annualized)(1)
1.61 1.64 1.95 0.89 1.32 
Return on average stockholders’ equity (annualized) ("ROAE")8.86 9.50 2.79 4.94 7.79 
Return on average tangible common equity (annualized) ("ROATCE")(1)
10.15 10.95 3.22 5.74 9.09 
Book value per common share$40.81 $40.28 $39.23 $38.62 $37.77 
Tangible book value per common share (1)
35.61 35.04 33.95 33.33 32.43 
Efficiency ratio(2)
61.32 %60.74 %56.48 %74.23 %65.99 %
Common equity tier 1 to risk-weighted assets(3)
13.59 13.54 13.59 13.47 13.57 
Tier 1 capital to risk-weighted assets(3)
13.78 13.73 13.79 13.67 13.77 
Total capital to risk-weighted assets(3)
14.97 14.91 15.90 15.68 15.81 
Tier 1 leverage ratio(3)
11.74 11.86 11.69 11.70 11.47 
__________________________
(1)PTPP earnings, PTPP ROAA, tangible book value per common share, and ROATCE are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
(2)Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
(3)Ratios are calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board. March 31, 2026 ratios are estimated.
8
Origin Bancorp, Inc.
Consolidated Quarterly Statements of Income
(Unaudited)

Three Months Ended
March 31,
 2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
Interest and dividend income(Dollars in thousands, except per share amounts)
Interest and fees on loans$114,161 $119,282 $120,096 $121,239 $117,075 
Investment securities-taxable8,776 8,991 8,767 7,692 8,076 
Investment securities-nontaxable1,486 1,487 1,523 1,425 968 
Interest and dividend income on assets held in other financial institutions6,873 4,884 5,753 4,281 6,424 
Total interest and dividend income131,296 134,644 136,139 134,637 132,543 
Interest expense
Interest-bearing deposits43,702 46,510 51,026 50,152 51,779 
FHLB advances and other borrowings111 102 273 1,216 96 
Subordinated indebtedness239 1,338 1,136 1,133 2,209 
Total interest expense44,052 47,950 52,435 52,501 54,084 
Net interest income
87,244 86,694 83,704 82,136 78,459 
Provision for credit losses4,965 3,158 36,820 2,862 3,444 
Net interest income after provision for credit losses82,279 83,536 46,884 79,274 75,015 
Noninterest income
Insurance commission and fee income9,597 5,931 6,598 6,661 7,927 
Service charges and fees4,951 5,043 4,965 4,927 4,716 
Other fee income2,295 2,128 2,262 2,809 2,301 
Mortgage banking revenue563 680 726 1,369 915 
Swap fee income54 58 1,387 1,435 533 
Change in fair value of equity investments— — 6,972 — — 
Equity method investment (loss) income(1,517)1,859 550 (1,909)(1,692)
Loss on sales of securities, net— — — (14,448)— 
Other income852 1,037 2,668 524 902 
Total noninterest income16,795 16,736 26,128 1,368 15,602 
Noninterest expense
Salaries and employee benefits38,397 37,015 37,863 38,280 37,731 
Occupancy and equipment, net6,984 6,961 7,079 7,187 8,544 
Data processing4,050 3,672 3,526 3,432 2,957 
Office and operations2,937 3,243 3,184 3,337 2,972 
Professional services2,649 2,703 1,395 1,285 1,250 
Intangible asset amortization1,485 1,499 1,583 1,768 1,761 
Electronic banking1,442 1,545 1,470 1,359 1,354 
Advertising and marketing1,360 1,746 1,524 1,158 1,133 
Regulatory assessments1,335 1,528 1,269 1,345 1,392 
Loan-related expenses895 787 979 669 599 
Other expenses2,263 2,124 2,156 2,163 2,375 
Total noninterest expense63,797 62,823 62,028 61,983 62,068 
Income before income tax expense35,277 37,449 10,984 18,659 28,549 
Income tax expense7,584 7,933 2,361 4,012 6,138 
Net income$27,693 $29,516 $8,623 $14,647 $22,411 
9
Origin Bancorp, Inc.
Consolidated Balance Sheets
(Unaudited)
(Dollars in thousands)
March 31,
2026
December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
Assets
Cash and due from banks$90,641 $73,122 $94,062 $113,918 $112,888 
Interest-bearing deposits in banks575,562 351,095 532,847 220,193 373,314 
Total cash and cash equivalents666,203 424,217 626,909 334,111 486,202 
Securities:
AFS1,151,402 1,117,176 1,104,789 1,126,721 1,161,368 
Held to maturity, net of allowance for credit losses10,557 10,559 10,559 11,093 11,094 
Securities carried at fair value through income6,197 6,215 6,203 6,218 6,512 
Total securities1,168,156 1,133,950 1,121,551 1,144,032 1,178,974 
Non-marketable equity securities held in other financial institutions31,193 31,069 31,041 75,181 71,754 
Equity method investments66,091 67,502 65,643 15,863 18,228 
Loans held for sale2,935 1,032 312 8,878 10,191 
LHFI7,864,221 7,670,917 7,537,099 7,684,446 7,585,526 
Less: ALCL99,015 96,782 96,259 92,426 92,011 
LHFI, net of ALCL7,765,206 7,574,135 7,440,840 7,592,020 7,493,515 
Premises and equipment, net126,916 124,249 122,899 122,618 123,847 
Cash surrender value of bank-owned life insurance41,968 41,726 41,478 41,265 41,021 
Goodwill 128,679 128,679 128,679 128,679 128,679 
Other intangible assets, net31,877 33,362 34,861 36,444 38,212 
Accrued interest receivable and other assets158,920 164,801 177,093 179,067 159,749 
Total assets$10,188,144 $9,724,722 $9,791,306 $9,678,158 $9,750,372 
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits$2,062,982 $1,979,875 $2,000,324 $1,841,684 $1,888,808 
Interest-bearing deposits excluding brokered interest-bearing deposits, if any5,895,932 5,497,920 5,516,821 5,450,710 5,536,636 
Time deposits797,354 829,452 814,685 805,642 862,968 
Brokered deposits— — — 25,000 50,000 
Total deposits8,756,268 8,307,247 8,331,830 8,123,036 8,338,412 
FHLB advances and other borrowings12,609 19,050 12,790 127,843 12,488 
Subordinated indebtedness16,569 16,544 89,715 89,657 89,599 
Accrued expenses and other liabilities142,423 135,196 142,215 131,853 129,696 
Total liabilities8,927,869 8,478,037 8,576,550 8,472,389 8,570,195 
Stockholders’ equity:
Common stock
154,397 154,762 154,839 156,124 156,220 
Additional paid-in capital532,773 533,541 532,975 537,819 538,790 
Retained earnings633,949 612,523 588,106 585,387 575,578 
Accumulated other comprehensive loss(60,844)(54,141)(61,164)(73,561)(90,411)
Total stockholders’ equity1,260,275 1,246,685 1,214,756 1,205,769 1,180,177 
Total liabilities and stockholders’ equity$10,188,144 $9,724,722 $9,791,306 $9,678,158 $9,750,372 
10
Origin Bancorp, Inc.
Loan Data
(Unaudited)
At and For the Three Months Ended
March 31,
 2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
LHFI(Dollars in thousands)
Owner-occupied commercial real estate$999,440 $1,004,801 $986,859 $972,788 $937,985 
Non-owner-occupied commercial real estate1,511,138 1,519,104 1,520,020 1,455,771 1,445,864 
Construction/land/land development641,273 611,220 615,778 653,748 798,609 
Single-family residential real estate1,442,792 1,444,611 1,460,696 1,465,535 1,465,192 
Multifamily residential real estate555,527 553,149 540,601 529,899 489,765 
Total real estate loans5,150,170 5,132,885 5,123,954 5,077,741 5,137,415 
Commercial and industrial2,173,126 1,989,218 1,919,782 2,011,178 2,022,085 
Mortgage warehouse LOC522,290 528,781 472,968 574,748 404,131 
Consumer18,635 20,033 20,395 20,779 21,895 
Total LHFI7,864,221 7,670,917 7,537,099 7,684,446 7,585,526 
Less: ALCL99,015 96,782 96,259 92,426 92,011 
LHFI, net$7,765,206 $7,574,135 $7,440,840 $7,592,020 $7,493,515 
Nonperforming assets(1)
Nonperforming LHFI
Commercial real estate$19,891 $13,212 $11,736 $12,814 $5,465 
Construction/land/land development19,427 16,388 17,047 17,720 17,694 
Single-family residential real estate37,809 39,480 41,964 35,592 38,306 
Multifamily residential real estate— — 2,404 2,404 2,443 
Commercial and industrial10,074 11,919 15,043 16,655 17,325 
Consumer65 185 88 130 135 
Total nonperforming LHFI87,266 81,184 88,282 85,315 81,368 
Other real estate owned/repossessed assets1,007 694 577 1,991 1,990 
Total nonperforming assets$88,273 $81,878 $88,859 $87,306 $83,358 
Classified assets$154,599 $148,322 $138,910 $129,628 $129,666 
Past due 30 to 89 days and still accruing17,624 14,764 7,739 12,495 42,587 
Allowance for loan credit losses
Balance at beginning of period$96,782 $96,259 $92,426 $92,011 $91,060 
Provision for loan credit losses5,010 3,693 35,216 2,715 3,679 
Loans charged off3,963 4,328 32,206 3,700 4,848 
Loan recoveries1,186 1,158 823 1,400 2,120 
Net charge-offs2,777 3,170 31,383 2,300 2,728 
Balance at end of period$99,015 $96,782 $96,259 $92,426 $92,011 
11
Origin Bancorp, Inc.
Loan Data - Continued
(Unaudited)
At and For the Three Months Ended
March 31,
 2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
Credit quality ratios
Total nonperforming assets to total assets0.87 %0.84 %0.91 %0.90 %0.85 %
Total nonperforming assets to loans & OREO1.12 1.07 1.18 1.14 1.10 
Nonperforming LHFI to LHFI1.11 1.06 1.17 1.11 1.07 
Past due 30 to 89 days and still accruing to LHFI0.22 0.19 0.10 0.16 0.56 
ALCL to nonperforming LHFI113.46 119.21 109.04 108.33 113.08 
ALCL to total LHFI1.26 1.26 1.28 1.20 1.21 
ALCL to total LHFI excl. mortgage warehouse LOC (2)
1.34 1.34 1.35 1.29 1.28 
Net charge-offs (recoveries) to total average LHFI (annualized)0.15 0.17 1.65 0.12 0.15 
____________________________
(1)Nonperforming assets consist of nonperforming/nonaccrual loans and property acquired through foreclosures or repossession, as well as bank-owned property not in use and listed for sale, if any.
(2)The ALCL to total LHFI, adjusted is calculated by excluding the ALCL for mortgage warehouse LOC loans from the total LHFI ALCL in the numerator and excluding the mortgage warehouse LOC loans from the LHFI in the denominator. Due to their low-risk profile, mortgage warehouse LOC loans require a disproportionately low allocation of the ALCL.
12
Origin Bancorp, Inc.
Average Balances and Yields/Rates
(Unaudited)
Three Months Ended
March 31, 2026December 31, 2025March 31, 2025
Average BalanceIncome/Expense
Yield/Rate(1)
Average BalanceIncome/Expense
Yield/Rate(1)
Average BalanceIncome/Expense
Yield/Rate(1)
Assets(Dollars in thousands)
Commercial real estate$2,506,193 $35,222 5.70 %$2,523,465 $37,165 5.84 %$2,448,099 $35,111 5.82 %
Construction/land/land development628,332 10,402 6.71 607,799 10,563 6.89 821,754 13,913 6.87 
Single-family residential real estate1,448,774 19,765 5.53 1,452,741 19,894 5.43 1,438,618 19,305 5.44 
Multifamily residential real estate549,475 8,104 5.98 564,700 9,027 6.34 471,304 6,729 5.79 
Commercial and industrial ("C&I")2,076,837 33,910 6.62 1,986,638 34,505 6.89 2,004,034 36,422 7.37 
Mortgage warehouse LOC406,072 6,389 6.38 455,244 7,723 6.73 289,521 5,047 7.07 
Consumer19,823 345 7.06 20,746 374 7.15 22,709 417 7.45 
LHFI7,635,506 114,137 6.06 7,611,333 119,251 6.22 7,496,039 116,944 6.33 
Loans held for sale1,712 24 5.69 1,639 31 7.50 8,590 131 6.18 
Loans receivable7,637,218 114,161 6.06 7,612,972 119,282 6.22 7,504,629 117,075 6.33 
Investment securities-taxable1,017,777 8,776 3.50 1,019,830 8,991 3.50 1,021,904 8,076 3.21 
Investment securities-nontaxable183,691 1,486 3.28 180,862 1,487 3.26 140,875 968 2.79 
Non-marketable equity securities held in other financial institutions31,112 399 5.20 31,228 449 5.70 71,669 416 2.35 
Interest-earning balances due from banks713,959 6,474 3.68 435,241 4,435 4.04 543,821 6,008 4.48 
Total interest-earning assets9,583,757 131,296 5.56 9,280,133 134,644 5.76 9,282,898 132,543 5.79 
Noninterest-earning assets542,734 549,619 525,317 
Total assets$10,126,491 $9,829,752 $9,808,215 
Liabilities and Stockholders’ Equity
Liabilities
Interest-bearing liabilities
Interest-bearing demand deposits$2,068,810 $11,901 2.33 %$1,788,612 $11,728 2.60 %$2,081,567 $14,654 2.86 %
Money market deposits3,487,443 24,783 2.88 3,466,849 27,088 3.10 3,137,768 27,013 3.49 
Savings deposits301,161 852 1.15 301,596 942 1.24 319,375 1,277 1.62 
Savings and interest-bearing transaction accounts5,857,414 37,536 2.60 5,557,057 39,758 2.84 5,538,710 42,944 3.14 
Time deposits811,939 6,166 3.08 812,766 6,752 3.30 972,176 8,835 3.69 
Total interest-bearing deposits6,669,353 43,702 2.66 6,369,823 46,510 2.90 6,510,886 51,779 3.23 
FHLB advances and other borrowings16,434 111 2.74 15,155 102 2.67 14,148 96 2.75 
Subordinated indebtedness16,558 239 5.85 42,641 1,338 12.45 124,133 2,209 7.22 
Total interest-bearing liabilities6,702,345 44,052 2.67 6,427,619 47,950 2.96 6,649,167 54,084 3.30 
Noninterest-bearing liabilities
Noninterest-bearing deposits1,978,098 2,002,102 1,837,365 
Other liabilities178,160 167,153 154,934 
Total liabilities8,858,603 8,596,874 8,641,466 
Stockholders’ Equity1,267,888 1,232,878 1,166,749 
Total liabilities and stockholders’ equity$10,126,491 $9,829,752 $9,808,215 
Net interest spread2.89 %2.80 %2.49 %
NIM$87,244 3.69 $86,694 3.71 $78,459 3.43 
NIM-FTE(2)
$87,748 3.71 $87,210 3.73 $78,837 3.44 
____________________________
(1)Yields/Rates are calculated on an actual/actual day count basis.
(2)In order to present pre-tax income and resulting yields on tax-exempt investments comparable to those on taxable investments, a tax-equivalent adjustment has been computed. This adjustment also includes income tax credits received on Qualified School Construction Bonds.
13
Origin Bancorp, Inc.
Notable Items
(Unaudited)
At and For the Three Months Ended
March 31,
2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
$ Impact
EPS
Impact(1)
$ Impact
EPS
Impact(1)
$ Impact
EPS
Impact(1)
$ Impact
EPS
Impact(1)
$ Impact
EPS
Impact(1)
(Dollars in thousands, except per share amounts)
Notable interest income items:
Interest income reversal related to borrower fraud$— $— $— $— $(206)$(0.01)$— $— $— $— 
Notable interest expense items:
OID amortization - subordinated debenture redemption— — (783)(0.02)— — — — (681)(0.02)
Notable provision expense items:
Provision (expense) release on relationships related to or impacted by questioned banker activity— — (10)— (1,670)(0.04)— — 375 0.01 
Provision expense related to borrower fraud— — (13)— (29,545)(0.74)— — — — 
Notable noninterest income items(2):
Loss on sales of securities, net— — — — — — (14,448)(0.36)— — 
Positive valuation adjustment on non-marketable equity securities— — — — 6,972 0.18 — — — — 
Net loss on OREO properties(2)
— — — — — — (158)— (212)(0.01)
BOLI payout— — — — — — — — 208 0.01 
Insurance recovery income related to questioned banker activity438 0.01 483 0.01 2,077 0.05 — — — — 
Notable noninterest expense items:
Operating expense related to questioned banker activity(542)(0.01)(698)(0.02)(112)— (530)(0.01)(543)(0.01)
Operating expense related to strategic Optimize Origin initiatives(3)
— — (51)— (577)(0.01)(428)(0.01)(1,615)(0.04)
Operating expense related to borrower fraud(473)(0.01)(587)(0.01)(285)(0.01)— — — — 
Employee Retention Credit— — — — — — — — 213 0.01 
Total notable items$(577)(0.01)$(1,659)(0.04)$(23,346)(0.59)$(15,564)(0.39)$(2,255)(0.06)
14
Origin Bancorp, Inc.
Notable Items - Continued
(Unaudited)
____________________________
(1)The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.
(2)The $158,000 net loss on OREO properties for the quarter ended June 30, 2025, includes an $8,000 insurance settlement recovery that was included in noninterest income on the face of the income statement and $3,000 in repair costs that was included in noninterest expense. The $212,000 net loss on OREO properties for the quarter ended March 31, 2025, includes a $444,000 expected insurance settlement recovery that was included in noninterest income on the face of the income statement, and a $148,000 repair cost that was included in noninterest expense.
(3)Operating expenses related to strategic Optimize Origin initiatives are expected to be immaterial and, accordingly, will no longer be separately tracked beginning with the quarter ended March 31, 2026. The $51,000 and $577,000 operating expenses related to strategic Optimize Origin initiatives for the quarters ended December 31, 2025, and September 30, 2025, includes sub-lease income of $40,000 and $27,000, respectively, that were included in noninterest income on the face of the income statement.
15
Origin Bancorp, Inc.
Non-GAAP Financial Measures
(Unaudited)
At and For the Three Months Ended
March 31,
 2026		December 31,
 2025		September 30,
 2025		June 30,
 2025		March 31,
 2025
(Dollars in thousands, except per share amounts)
Calculation of PTPP earnings:
Net income$27,693 $29,516 $8,623 $14,647 $22,411 
Provision for credit losses4,965 3,158 36,820 2,862 3,444 
Income tax expense7,584 7,933 2,361 4,012 6,138 
PTPP earnings (non-GAAP)$40,242 $40,607 $47,804 $21,521 $31,993 
Calculation of PTPP ROAA:
PTPP earnings$40,242 $40,607 $47,804 $21,521 $31,993 
Divided by number of days in the quarter90 92 92 91 90 
Multiplied by the number of days in the year365 365 365 365 365 
PTPP earnings, annualized$163,204 $161,104 $189,657 $86,320 $129,749 
Divided by total average assets10,126,491 9,829,752 9,727,414 9,715,923 9,808,215 
ROAA (annualized) (GAAP)1.11 %1.19 %0.35 %0.60 %0.93 %
PTPP ROAA (annualized) (non-GAAP)1.61 1.64 1.95 0.89 1.32 
Calculation of tangible book value per common share:
Total common stockholders’ equity$1,260,275 $1,246,685 $1,214,756 $1,205,769 $1,180,177 
Goodwill (128,679)(128,679)(128,679)(128,679)(128,679)
Other intangible assets, net(31,877)(33,362)(34,861)(36,444)(38,212)
Tangible common equity1,099,719 1,084,644 1,051,216 1,040,646 1,013,286 
Divided by common shares outstanding at the end of the period30,879,462 30,952,428 30,967,768 31,224,718 31,244,006 
Book value per common share (GAAP)$40.81 $40.28 $39.23 $38.62 $37.77 
Tangible book value per common share (non-GAAP)35.61 35.04 33.95 33.33 32.43 
Calculation of ROATCE:
Net income$27,693 $29,516 $8,623 $14,647 $22,411 
Divided by number of days in the quarter90 92 92 91 90 
Multiplied by number of days in the year365 365 365 365 365 
Annualized net income$112,311 $117,102 $34,211 $58,749 $90,889 
Total average common stockholders’ equity$1,267,888 $1,232,878 $1,227,431 $1,190,331 $1,166,749 
Average goodwill(128,679)(128,679)(128,679)(128,679)(128,679)
Average other intangible assets, net(32,679)(34,293)(35,741)(37,459)(38,254)
Average tangible common equity1,106,530 1,069,906 1,063,011 1,024,193 999,816 
ROAE (annualized) (GAAP)8.86 %9.50 %2.79 %4.94 %7.79 %
ROATCE (annualized) (non-GAAP)10.15 10.95 3.22 5.74 9.09 

16