Slide 1: Origin Bancorp, Inc. 1Q25 Investor Presentation
ORIGIN BANCORP, INC. 1Q TWENTY25 INVESTOR PRESENTATION
Slide 2: Forward-Looking Statements and Non-GAAP Measures
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”, “we”, “our” or the “Com
Slide 3: Deposits & Loans by State
BEST BANKS TO WORK FOR IN AMERICA 12 CONSECUTIVE YEARS 11 17 6 9 1 1 9 DOLLARS IN MILLIONS, UNAUDITED (1) (2) DEPOSITS & LOANS BY STATE Deposits (1) Loans (2) TEXAS Dallas/Fort Worth Houston East Texas Entry: 2008 Entry: 2013 Entry: 2022 Loans: $2,676 Loans: $2,060 Loans: $385 55% Deposits: $2,122 D
Slide 4: Optimize Origin: Updated Financial Outlook
OPTIMIZE ORIGIN TO DELIVER ELITE LEVEL FINANCIAL PERFORMANCE PRODUCTIVITY, DELIVERY BALANCE SHEET CULTURE & EMPLOYEE & EFFICIENCY OPTIMIZATION ENGAGEMENT UPDATED FINANCIAL OUTLOOK NEAR TERM GOAL ULTIMATE TARGET 1% + ROAA RUN RATE BY 4Q25 TOP QUARTILE ROAA 4 Q 2 5* 2 0 2 5* Loan Growth - ex Warehouse
Slide 5: Optimize Origin: Optimizations and Annualized Benefit
OPTIMIZE ORIGIN TO DELIVER ELITE LEVEL FINANCIAL PERFORMANCE UPDATED UPDATED ANNUALIZED OPTIMIZATIONS REALIZATION TIMELINE BENEFIT (pre-tax) • Production Optimization: Branch, retail staff, commercial banker and other production banker 4Q24 – 2H25 ~ $11.5MM profitability optimization • Securities Op
Slide 6: Origin Strategically Invests in Texas & Southeast
ORIGIN STRATEGICALLY INVESTS (4) IN TEXAS & SOUTHEAST THE MOST DYNAMIC GROWTH MARKETS IN THE COUNTRY TEXAS l 8th largest economy in the world STRONG l #1 in jobs created from January 2024 to January 2025 with 187,700 nonfarm jobs added NET MIGRATION INTO OUR MARKETS l Home to 52 Fortune 500 company
Slide 7: ORIGIN BANCORP, INC. _______
7 ORIGIN BANCORP, INC. _______
Slide 8: Performance Highlights At-A-Glance - First Quarter 2025
PERFORMANCE HIGHLIGHTS AT-A-GLANCE - FIRST QUARTER 2025 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS UNAUDITED Key Performance Metrics 1Q25 4Q24 1Q25 Key Highlights Balance Sheet Total Loans Held for Investment ("LHFI") $ 7,585,526 $ 7,573,713 • Optimize Origin - Initiative to drive elite financia
Slide 9: Trending Key Measures
TRENDING KEY MEASURES UNAUDITED Net Income ($) Diluted EPS ($) Total LHFI ($) Total Deposits ($) DOLLARS IN THOUSANDS DOLLARS IN MILLIONS DOLLARS IN MILLIONS .0% 1.17 R9 R 9.5 % CAG 8,338 27,733 CAG 7,586 22,411 0.71 6,028 5,396 4Q 21 4Q 22 4Q 23 4Q 24 3Q21 3Q22 3Q23 3Q24 2Q22 2Q23 2Q24 25 4Q 21 4Q
Slide 10: Asset and Stockholders' Equity Growth 1997 - 1Q25
19 9 148 19 7 98 0 500 1,000 1,500 2,000 2,500 12 19 /31 9 /96 20 9 00 UNAUDITED 12 20 /31 0 /97 20 1 02 12 20 /31 0 DOLLARS IN MILLIONS /98 20 3 04 12 20 /31 0 /99 20 5 06 12 20 /31 0 20 7 CA /00 08 12 20 0 G /31 /01 20 9 10 R1 12 20 1 6. /31 /02 20 1 12 6% 12 20 /31 1 /03 20 3 14 Total Assets ($)
Slide 11: Texas Growth Story
TEXAS GROWTH STORY UNAUDITED Texas Franchise Highlights Loan Trends by Texas Market(2) ($) DOLLARS IN MILLIONS • 29 locations throughout 10 counties including the 4th 22.9% and 5th largest MSAs in the United States.(8) CAGR 5,276 5,250 5,121 • Texas franchise represents 71% of LHFI(2) and 55% of 4,7
Slide 12: Loan Growth
LOAN GROWTH UNAUDITED LHFI Growth excluding MW LOC(10) ($) C&I and Owner Occupied CRE Growth(10) ($) DOLLARS IN MILLIONS DOLLARS IN MILLIONS 8,000 4,000 7,331 7,225 7,182 6,805 7,225 7,182 1,212 3,013 2,979 2,960 6,000 3,000 2,894 2,979 2,960 627 5,593 4,498 4,498 1,872 2,267 4,000 2,000 1,872 2,000
Slide 13: Well Diversified Loan Portfolio
(11) WELL DIVERSIFIED LOAN PORTFOLIO UNAUDITED Loan Composition at March 31, 2025: $7,586 million C&I, Owner Occupied CRE and MW LOC: $3,364 million Finance & Insurance: 7% Residential Real Real Estate & Construction: 7% Estate - Single Family Mortgage Warehouse Lending: 5% 20% & Consumer Commercial
Slide 14: Credit Quality
CREDIT QUALITY UNAUDITED Asset Quality Trends (%) 1.07 0.95 0.99 0.96 1.57 1.68 0.83 0.81 1.49 1.35 0.51 0.56 1.07 0.49 0.42 0.13 0.15 0.48 (0.03) 0.15 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Nonperforming LHFI / LHFI Classified LHFI / Total LHFI Past due LHFI / LHFI Net Charge-Offs / Aver
Slide 15: CRE Office - Strength and Diversification
CRE OFFICE - STRENGTH AND DIVERSIFICATION NON-OWNER OCCUPIED, UNAUDITED Tenant Classification at March 31, 2025 Key Portfolio Metrics DOLLARS IN MILLIONS DOLLARS IN THOUSANDS March 31, 2025 Other: 27% Medical: 26% Avg. Loan Size $ 2,327 Weighted Avg. LTV 58.40 % Past Due Loans / Loans — $370.0 Class
Slide 16: Selected Sectors - Key Portfolio Metrics
SELECTED SECTORS - KEY PORTFOLIO METRICS DOLLARS IN THOUSANDS, UNAUDITED Multi-Family Real Estate March 31, 2025 + Hotel Retail Shopping Under Construction Outstanding Loan Balance $ 666,914 $ 106,454 $ 582,954 % of LHFI 8.79 % 1.40 % 7.69 % Avg. Loan Size $ 3,993 $ 5,603 $ 1,530 Weighted Avg. LTV 5
Slide 17: Investment Securities
INVESTMENT SECURITIES UNAUDITED Investment Securities Average Balance and Yield DOLLARS IN MILLIONS • Total securities portfolio weighted average effective duration 1,244 was 4.10 years at March 31, 2025, compared to 4.46 years at 1,190 1,185 1,152 1,163 December 31, 2024. • The increase in the yiel
Slide 18: Loans & Securities - Repricing or Maturity
LOANS & SECURITIES- REPRICING OR MATURITY UNAUDITED Total Loans at March 31, 2025 Repricing or Maturity Term Rate Structure 1 Year or > 1 to 3 > 3 to 5 > 5 to 10 Floating Variable > 10 Years Total Fixed Rate (Dollars in thousands) less Years Years Years Rate(17) Rate(17) Commercial and industrial $
Slide 19: Deposit Detail
DEPOSIT DETAIL UNAUDITED Deposit Composition at March 31, 2025: $8,338 million Commercial Deposit Composition: $4,656 million Brokered: 1% Finance & Insurance: 8% Other Business Deposits <2%: 7% Public Funds: 11% Real Estate Rental & Leasing: 7% Construction: 6% Professional, Scientific, & Technical
Slide 20: Deposit Trends
DEPOSIT TRENDS UNAUDITED Average Deposits ($) Index-Based Deposits DOLLARS IN MILLIONS 8,439 8,559 8,498 8,496 8,348 Index-based Interest- bearing Deposits Noninterest-bearing 1,564 1,535 1,470 1,214 972 Deposits 1,941 1,837 11% 1,894 1,850 1,866 23% 5,130 5,178 5,341 5,539 5,009 66% 1Q24 2Q24 3Q24
Slide 21: Yields and Costs
YIELDS AND COSTS UNAUDITED Yield on LHFI (%) 8.50 8.50 8.43 7.82 7.50 6.58 6.58 6.67 6.47 6.33 5.33 5.33 5.33 4.78 4.36 1Q24 2Q24 3Q24 4Q24 1Q25 Yield on LHFI Avg. Prime Rate 30 Day Avg. SOFR Cost of Funds (%) 3.95 4.01 3.85 3.61 3.18 3.23 3.12 3.04 2.82 3.08 3.14 2.99 2.58 2.79 2.52 1Q24 2Q24 3Q24
Slide 22: Net Interest Income and NIM Trends
NET INTEREST INCOME AND NIM TRENDS DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income & NIM ($) NIM-FTE Changes - 1Q25 (%) 78,349 78,459 73,890 74,804 3.75 0.06 0.01 73,323 5,047 0.12 8,393 0.17 (0.03) 5,783 9,302 73,412 (0.08) 3.44 8,109 3.50 69,956 3.33 (0.08) 67,540 (0.06) 65,781 65,502 3.25 3.0
Slide 23: Net Revenue Distribution
NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income + Noninterest Income ($)(3) 90,571 91,492 90,572 92,438 94,746 81.0% 82.1% 82.6% 84.8% 83.5% 1Q24 2Q24 3Q24 4Q24 1Q25 Net Interest Income Noninterest Income Major Components of Noninterest Income(19) ($) Components of Other
Slide 24: Noninterest Expense Analysis and Efficiency Ratio
NONINTEREST EXPENSE ANALYSIS UNAUDITED Noninterest Expense Composition ($) Efficiency Ratios (%) DOLLARS IN THOUSANDS 65,422 64,388 62,521 62,068 83.85 82.79 58,707 10,593 68.86 13,007 65.99 8,103 67.48 9,373 65.24 65.55 66.82 65.33 64.81 8,460 2,137 1,761 1,905 1,800 3,072 2,972 2,137 2,984 2,883 2
Slide 25: Capital
CAPITAL UNAUDITED Tier 1 Capital to Average Assets (Leverage Ratio)(20) (%) Tier 1 Capital to Risk-Weighted Assets(20) (%) 13.8 13.5 12.6 11.5 12.3 13.3 13.4 12.2 11.1 12.4 10.9 12.1 12.2 10.7 10.7 11.2 10.9 10.8 10.6 10.5 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Company Level Origin Bank L
Slide 26: Notable Items
NOTABLE ITEMS DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED 1Q25 4Q24 $ Impact EPS Impact (21) $ Impact EPS Impact (21) Notable interest expense items: OID amortization - subordinated debenture redemption $ (681) $ (0.02) $ — $ — Notable provision expense items: Provision release related
Slide 27: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 1Q25 4Q24 Calculation of PTPP earnings: Net income $ 22,411 $ 14,270 Provision (benefit) for credit losses 3,444 (5,398) Income tax expense 6,138 3,725 PTPP earnings (non-GAAP) $ 31,993 $ 12,597 Calculation of PTPP ROAA: P
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 1Q25 4Q24 Calculation of ROATCE: Net income $ 22,411 $ 14,270 Divided by number of days in the quarter 90 92 Multiplied by the number of days in the year 365 366 Annualized net income $ 90,889 $ 56,770 Total average stockh
Slide 29: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED Calculation of tangible book value per common share and adjusted tangible book value per common share: 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 Total common stockholders' equity $ 1,180,177 $ 1,145
Slide 30: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of core efficiency ratio: 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 Total noninterest expense $ 62,068 $ 65,422 $ 62,521 $ 64,388 $ 58,707 $ 60,906 $ 58,663 $ 58,887 Insurance and mortgage noninterest expense (8,
Slide 31: Presentation Notes
PRESENTATION NOTES (1) Excludes Treasury/wholesale deposits of $81.1 million at March 31, 2025. (2) Excludes mortgage warehouse lines of credit (“MW LOC”). (3) Excludes notable items. (4) Data obtained from United States Census Bureau (census.gov), Texas Comptroller (comptroller.texas.gov), Office o