Origin Bancorp, Inc. · NYSE:OBK
Origin Bancorp — Q1 2021 Earnings Presentation
18 slides from Origin Bancorp's earnings presentation, Apr 28, 2021
Slide 1: 1Q 2021 Investor Presentation
ORIGIN BANCORP, INC. _______ 1Q TWENTY21 INVESTOR PRESENTATION ORIGIN BANCORP, INC.
Slide 2: Forward-looking statements
ORIGIN BANCORP, INC. _______ This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin Bancorp, Inc.'s ("Origin" or the "Company") future financial performa
Slide 3: Origin Company Snapshot
ORIGIN BANCORP, INC. _______ 9 10 19 6 TEXAS Entry: DFW 2008 | Houston 2013 Loans: $2,649 Deposits: $2,917 LOUISIANA Entry: 1912 Loans: $1,470 Deposits: $2,559 DOLLARS IN MILLIONS (1) (2) 3 ORIGIN COMPANY SNAPSHOT • Origin Bancorp, Inc., the holding company for Origin Bank, is headquartered in Rusto
Slide 4: A Unique & Defined Culture
ORIGIN BANCORP, INC. _______ 4 A UNIQUE & DEFINED CULTURE
Slide 5: Balance Sheet and Income Statement Summary
ORIGIN BANCORP, INC. _______ Balance Sheet 1Q2021 4Q2020 1Q2020 Linked Qtr $ Δ Linked Qtr % Δ YoY $ Δ YoY % Δ Total Loans Held For Investment ("LHFI") $ 5,849,760 $ 5,724,773 $ 4,481,185 $ 124,987 2.2 % $ 1,368,575 30.5 % Total Assets 7,563,175 7,628,268 6,049,638 (65,093) (0.9) 1,513,537 25.0 Total
Slide 6: Texas Growth Story
ORIGIN BANCORP, INC. _______ 6 1,311 1,741 1,956 2,562 2,649 884 1,067 1,127 1,553 1,600 427 674 829 1,009 1,049 DFW Houston 2017 2018 2019 2020 1Q2021 Deposit Trends by Texas Market ($) (1) Loan Trends by Texas Market ($) (2) TEXAS GROWTH STORY Texas Franchise Highlights DOLLARS IN MILLIONS • 19 br
Slide 7: Supporting Our Customers - Forbearance and PPP Loans
ORIGIN BANCORP, INC. _______ 7 COVID-19 LHFI Forbearances Highlights 6/30/2020 9/30/2020 12/31/2020 3/31/2021 Industry Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Forbearance Amount $ % of LHFI(1) % Hotel 59,258 92.5 58,482 91.4 21,959
Slide 8: Supporting Our Customers - Leveraging Technology
ORIGIN BANCORP, INC. _______ 8 MOBILE FEATURE ADOPTION RATES(1) SUPPORTING OUR CUSTOMERS - LEVERAGING TECHNOLOGY ZELLE® USERS 54.9% GROWTH ZELLE® TRANSFERS 95.5% GROWTH 32.8% TRANSFER ADOPTION % ORIGIN BANK 29.3% INDUSTRY BENCHMARK 24.3% DEPOSIT ADOPTION % ORIGIN BANK 17.4% INDUSTRY BENCHMARK 7.7% B
Slide 9: Deposit Trends
ORIGIN BANCORP, INC. _______ 9 4,325 4,964 5,376 5,884 1,098 1,579 1,634 1,686 1,701 2,283 2,410 2,704 2,869 3,076 162 224 307 651 437 782 752 731 678 656 5,870 Noninterest-bearing Interest-bearing Brokered Time Deposits 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Deposits by State (%)(1)Average Deposits ($)
Slide 10: Well Diversified Loan Portfolio
ORIGIN BANCORP, INC. _______ Real Estate & Construction: 5% Office Building: 5% Assisted Living: 3% Non-Essential Retail Shopping: 3% Other Healthcare: 2% Essential Retail Shopping: 2% Multi-family: 2% Hotel: 1% Misc: 3% Mtg. Warehouse: 21% Real Estate & Construction: 8% Finance & Insurance: 6% Tran
Slide 11: Deep Dive - Selected Sectors
ORIGIN BANCORP, INC. _______ 11 LHFI(2) at 3/31/2021 Non-Essential Retail: 3.4% Assisted Living: 2.8% Restaurant: 2.3% Hotel: 1.2% All Other LHFI: 90.3% Outstanding Balance (Dollars in thousands) 3/31/2020 6/30/2020 9/30/2020 12/31/2020 3/31/2021 Hotel $ 63,264 $ 64,043 $ 63,951 $ 63,218 $ 62,319 No
Slide 12: Credit Quality
ORIGIN BANCORP, INC. _______ 1.70 2.00 2.00 2.10 1.81 Classified Loans / Total Loans excl. PPP Loans (%) Net Charge-Offs / Average LHFI excl. PPP Loans (annualized) (%) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 0.11 0.58 0.15 0.14 0.23 0.74 0.63 0.60 0.50 0.63 1.14 0.50 0.58 0.50 0.50 Nonperforming LHFI /
Slide 13: Yields, Costs and LHFI Profile
ORIGIN BANCORP, INC. _______ 13 LHFI: Fixed \ Variable (by Index) at 3/31/2021 • The yield on LHFI increased to 3.99% during 1Q2021 due to the PPP forgiveness process which accelerated fee earnings into interest income. • The cost of interest bearing deposits declined six bps, the cost of total depo
Slide 14: Net Interest Income and NIM Trend
ORIGIN BANCORP, INC. _______ 14 DOLLARS IN THOUSANDS 42,810 46,290 50,617 51,819 55,239 42,810 43,238 47,187 48,542 49,101 3,052 3,430 3,277 6,138 3.44 3.09 3.18 3.07 3.22 3.15 3.28 3.17 3.15 Net Interest Income excl. PPP ($) PPP Net Interest Income ($) NIM (FTE) (%) NIM (FTE) excl. PPP (%) 1Q2020 2
Slide 15: Noninterest Income
ORIGIN BANCORP, INC. _______ 15 12,144 19,076 18,051 15,381 17,131 3,320 2,990 3,268 3,420 3,343 2,769 10,717 9,523 6,594 4,577 3,687 3,109 3,218 2,732 3,771 676 1,527 110 233 348 1,692 733 1,932 2,402 5,092 Service Charges & Fees Mortgage Banking Revenue Insurance Commission & Fee Income Swap Fee I
Slide 16: Noninterest Expense
ORIGIN BANCORP, INC. _______ 36,097 38,220 38,734 38,884 39,436 21,988 24,045 22,597 22,475 22,325 4,221 4,267 4,263 4,271 4,339 2,003 2,075 2,065 2,178 2,173 1,441 1,344 1,367 1,472 1,454 1,142 1,509 1,809 1,856 1,705 5,302 4,980 6,633 6,632 7,440 Salaries and Employee Benefits Occupancy and Equipm
Slide 17: Capital
ORIGIN BANCORP, INC. _______ Tier 1 Capital to Average Assets (Leverage Ratio) (%) 10.4 8.8 8.8 9.0 9.0 10.7 9.1 9.2 8.6 8.7 Bank Level Company Level 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 Tier 1 Capital to Risk-Weighted Assets (%) 10.7 10.1 9.6 10.5 10.7 11.0 10.5 10.1 10.1 10.3 Bank Level Company Leve
Slide 18: Non-GAAP Reconciliations
ORIGIN BANCORP, INC. _______ Calculation of Tangible Common Equity: 1Q2021 4Q2020 1Q2020 Total common stockholders' equity $ 656,355 $ 647,150 $ 606,631 Less: goodwill and other intangible assets, net 30,246 30,480 31,241 Tangible Common Equity $ 626,109 $ 616,670 $ 575,390 Calculation of Tangible B