Slide 1: 2Q23 Investor Presentation
2Q TWENTY23 INVESTOR PRESENTATION ORIGIN BANCORP, INC.
Slide 2: Forward-Looking Statements and Non-GAAP Measures
2 FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES 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") fut
Slide 3: Origin Company Snapshot
ORIGIN BANCORP, INC. _______ 17 LOUISIANA Entry: 1912 Loans: $1,463 Deposits: $2,857 DOLLARS IN MILLIONS, UNAUDITED (2) (3) 3 ORIGIN COMPANY SNAPSHOT • Origin Bancorp, Inc. is the holding company for Origin Bank. • Origin Bank was founded in 1912 and is headquartered in Choudrant, LA. • 61(1) bankin
Slide 4: A Unique & Defined Culture
ORIGIN BANCORP, INC. _______ 4 A UNIQUE & DEFINED CULTURE
Slide 5: Second quarter highlights
ORIGIN BANCORP, INC. _______ • Total deposits were $8.49 billion at June 30, 2023, reflecting an increase of $315.7 million, or 3.9%, compared to March 31, 2023. • LHFI to deposits, excluding mortgage warehouse lines of credit, were 83.5% at June 30, 2023, compared to 86.1% at March 31, 2023. • Cash
Slide 6: Trending Key Measures
ORIGIN BANCORP, INC. _______ TRENDING KEY MEASURES 57,502 90,927 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 Total Revenue ($) UNAUDITED Diluted EPS ($)Net Income ($) Total LHFI, Adjusted ($)(8) Total Deposits ($) 0.62 0.70 3Q 19 4Q 19 1Q 20 2Q 20
Slide 7: Trending Key Non-GAAP Measures
ORIGIN BANCORP, INC. _______ TRENDING KEY NON-GAAP MEASURES(4) Adjusted Diluted EPS ($) UNAUDITED Adjusted Net Income ($) Adjusted PTPP Earnings ($) DOLLARS IN THOUSANDS Adjusted Efficiency Ratio (%) 61.17 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 2
Slide 8: Asset and Stockholders' Equity Growth 1997 - 1H23
ORIGIN BANCORP, INC. _______ ASSET AND STOCKHOLDERS' EQUITY GROWTH 1997 - 1H23 DOLLARS IN MILLIONS Total Assets ($) 148 10,165 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 1H 23 Total Stock
Slide 9: Texas Growth Story
ORIGIN BANCORP, INC. _______ 9 1,956 2,247 2,620 4,747 5,011 1,127 1,343 1,545 2,747 2,842829 904 1,075 1,631 1,758 369 411 DFW Houston East Texas 2019 2020 2021 2022 1H23 Deposit Trends by Texas Market ($) Loan Trends by Texas Market ($)(13) TEXAS GROWTH STORY Texas Franchise Highlights DOLLARS IN
Slide 10: Loan Growth
ORIGIN BANCORP, INC. _______ 10 LOAN GROWTH 3,869 4,094 4,498 7,085 6,805 5,593 1,212 Origin BTH 2019 2020 2021 2022 1H23 2,000 4,000 6,000 8,000 LHFI Key Data DOLLARS IN MILLIONS IDT • Total loans held for investment ("LHFI"), excluding mortgage warehouse lines of credit, were $7.09 billion at June
Slide 11: Well Diversified Loan Portfolio
ORIGIN BANCORP, INC. _______ Real Estate & Construction: 8% Retail Shopping: 6% Office Building: 5% Healthcare: 3% Multi-family under construction: 2% Hotel: 1% Restaurant: 1% Professional Svcs.: 1% Finance & Insurance: 1% Misc.: 2% Commercial & Industrial ("C&I") 26% Owner Occupied Construction/ La
Slide 12: Credit Quality
ORIGIN BANCORP, INC. _______ 1.01 1.05 1.17 1.11 Classified LHFI / Total LHFI (%) Net Charge-Offs / Average LHFI (annualized) (%) 2Q22 3Q22 4Q22 1Q23 2Q23 0.07 0.01 0.07 0.10 0.20 0.14 0.23 0.44 0.16 0.15 0.16 0.26 Nonperforming LHFI / LHFI (%) Past due LHFI / LHFI (%) 2Q22 3Q22 4Q22 1Q23 2Q23 12 CR
Slide 13: CRE Office - Strength and Diversification
ORIGIN BANCORP, INC. _______ Texas: 74% Louisiana: 8% Mississippi: 13% Out of Market: 5% 13 Medical: 25% Financial: 16% Law Firms: 10% Energy: 10% Other: 20% National Credit Tenant: 19% CRE OFFICE - STRENGTH AND DIVERSIFICATION Tenant Classification $389.8M $389.8M Geographic Diversification DOLLARS
Slide 14: Investment Securities
ORIGIN BANCORP, INC. _______ Treasury/Agency: 15% MBS: 41% CMO: 12% Municipal: 23% Corporate/ABS: 9% 1,869 1,865 1,675 1,634 1,592 1.85 2.12 2.34 2.38 2.42 Total Securities ($) Yield (%) 2Q22 3Q22 4Q22 1Q23 2Q23 Investment Securities Average Balance and Yield INVESTMENT SECURITIES DOLLARS IN MILLION
Slide 15: Deposit Detail
ORIGIN BANCORP, INC. _______ Commercial: 52% Consumer: 30% Public: 10% Brokered: 8% Real Estate Rental & Leasing: 7% Finance & Insurance: 6% Professional, Scientific, & Technical Svcs: 6% Construction: 5% Other Business Deposits 2% or less: 5% Mgmt of Companies & Enterprises: 4% Affiliate: 3% Manufa
Slide 16: Deposit Trends
ORIGIN BANCORP, INC. _______ 16 6,559 7,410 7,710 8,017 8,260 3,767 4,157 4,363 4,648 4,741 2,289 2,583 2,593 2,392 2,140 503 670 754 977 1,379 Interest-bearing Demand Noninterest-bearing Time Deposits 2Q22 3Q22 4Q22 1Q23 2Q23 Average Deposits ($) DEPOSIT TRENDS 0.49 2.58 3.56 0.64 1.54 2.49 3.05 0.
Slide 17: Yields and Costs
ORIGIN BANCORP, INC. _______ 17 YIELDS AND COSTS Yield on LHFI (%) 4.26 6.03 6.18 4.21 4.86 6.165.36 6.82 8.16 1.02 2.47 3.91 5.10 0.53 1.92 3.37 4.42 4.92 Yield on LHFI Yield on LHFI excl. PAA Avg. Prime Rate Avg. 1M LIBOR 30 Day Avg. SOFR 2Q22 3Q22 4Q22 1Q23 2Q23 Cost of Funds (%) 0.19 0.29 • LHFI
Slide 18: Net Interest Income and NIM Trends
ORIGIN BANCORP, INC. _______ 18 DOLLARS IN THOUSANDS, UNAUDITED 59,504 78,523 84,749 77,147 75,291 54,241 71,494 78,174 72,435 68,346 4,544 5,614 4,678 3,009 6,415 719 1,415 1,897 1,703 3.23 3.68 3.81 3.44 3.16 3.20 3.61 3.73 3.36 3.14 Net Interest Income excl. Mtg. WH LOC, adjusted ($) Mtg. WH LOC
Slide 19: Net Revenue Distribution
ORIGIN BANCORP, INC. _______ Insurance Commission & Fee Income Service Charges & Fees Mortgage Banking Revenue Other 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 19 Net Interest Income Noninterest Income 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3
Slide 20: Noninterest Expense Analysis
ORIGIN BANCORP, INC. _______ 20 Efficiency Ratios (%)(4) NONINTEREST EXPENSE ANALYSIS DOLLARS IN THOUSANDS Noninterest Expense Composition ($) Consolidated Efficiency Ratio Adjusted Efficiency Ratio 2Q22 3Q22 4Q22 1Q23 2Q23 59 .8 9 54 .1 0 Operating Leverage (%) E FF IC IE N C Y R A TI O (% ) N IE /
Slide 21: Capital
ORIGIN BANCORP, INC. _______ 9.1 9.6 9.7 9.8 9.6 9.5 9.1 9.9 10.2 10.1 Company Level Origin Bank Level 2Q22 3Q22 4Q22 1Q23 2Q23 11.0 10.7 11.1 11.3 11.2 11.4 10.9 11.5 11.7 11.7 Company Level Origin Bank Level 2Q22 3Q22 4Q22 1Q23 2Q23 21 CAPITAL 14.1 13.8 14.2 14.3 14.1 13.4 12.8 13.4 13.6 13.5 Comp
Slide 22: Calculation of adjusted net income
ORIGIN BANCORP, INC. _______ Calculation of adjusted net income: 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 Net interest income after provision for credit losses $ 70,985 $ 70,950 $ 80,125 $ 61,581 $ 56,052 $ 52,829 $ 56,827 $ 56,462 Add: CECL provision for non-PCD loans — — — 14,890 — — — — Adjusted n
Slide 23: Calculation of adjusted net income, continued
ORIGIN BANCORP, INC. _______ Calculation of adjusted net income, continued: 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 Net interest income after provision for credit losses $ 59,901 $ 53,827 $ 45,486 $ 36,984 $ 24,887 $ 24,279 $ 41,718 $ 40,421 Total noninterest income $ 12,438 $ 17,131 $ 15,381 $ 18,0
Slide 24: Calculation of adjusted PTPP earnings
ORIGIN BANCORP, INC. _______ Calculation of adjusted PTPP earnings: 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 Provision for credit losses $ 4,306 $ 6,197 $ 4,624 $ 16,942 $ 3,452 $ (327) $ (2,647) $ (3,921) Less: CECL provision for non-PCD loans — — — 14,890 — — — — Adjusted provision for credit losse
Slide 25: Calculation of adjusted dilutive EPS
ORIGIN BANCORP, INC. _______ Calculation of adjusted dilutive EPS: 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 Numerator: Adjusted net income $ 21,388 $ 24,188 $ 30,409 $ 31,087 $ 21,949 $ 21,134 $ 24,144 $ 26,978 Denominator: Weighted average diluted common shares outstanding 30,872,834 30,882,156 30,8
Slide 26: Calculation of tangible book value per common share
ORIGIN BANCORP, INC. _______ Calculation of tangible book value per common share, adjusted tangible book value per common share and tangible common equity to total assets: 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 Total assets $ 10,165,163 $ 10,358,516 $ 9,686,067 $ 9,462,639 $ 8,111,524 $ 8,112,295 $
Slide 27: Calculation of tangible book value per common share, continued
ORIGIN BANCORP, INC. _______ Calculation of tangible book value per common share, adjusted tangible book value per common share and tangible common equity to total assets, continued: 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 Total assets $ 7,268,068 $ 7,563,175 $ 7,628,268 $ 7,101,338 $ 6,643,909 $ 6,
Slide 28: Reconciliation of Non-GAAP Financial Measures
ORIGIN BANCORP, INC. _______ RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted efficiency ratio: 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 Total noninterest expense $ 58,887 $ 56,760 $ 57,254 $ 56,241 $ 44,150 $ 42,774 $ 40,346 $ 39,165 Less: insuran
Slide 29: Calculation of adjusted ROAA and ROAE; ROATCE
ORIGIN BANCORP, INC. _______ Calculation of adjusted ROAA and ROAE: Calculation of ROATCE and adjusted ROATCE: 2Q23 1Q23 2Q23 1Q23 Adjusted net income $ 21,388 $ 24,188 Net income $ 21,760 $ 24,302 Divided by number of days in the quarter 91 90 Divided by number of days in the quarter 91 90 Multipli
Slide 30: Presentation Notes
30 PRESENTATION NOTES (1) Does not include loan production offices. Count is as of most practicable date. (2) Does not include non-market based deposits. (3) Excludes mortgage warehouse loans. (4) As used in this presentation, adjusted net income, adjusted PTPP earnings, adjusted diluted EPS, adjust