Slide 1: Origin Bancorp, Inc. 3Q 2024 Investor Presentation
ORIGIN BANCORP, INC. 3Q TWENTY24 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" or the "Company") futur
Slide 3: Deposits & Loans by State
15 18 7 9 1 * 9 *Fort Walton Beach, Florida location coming soon 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: $2,970 Loans: $2,034 Loans: $426 56% Deposits: $2,027 Deposit
Slide 4: Origin Strategically Invests in Texas & Southeast
ORIGIN STRATEGICALLY INVESTS (3) IN TEXAS & SOUTHEAST THE MOST DYNAMIC GROWTH MARKETS IN THE COUNTRY TEXAS STRONG l 8th largest economy in the world NET MIGRATION INTO OUR MARKETS l #1 in jobs created in 2023 with 369,600 jobs added l Home to 55 Fortune 500 company headquarters l Texas boasts the 2n
Slide 5: ORIGIN BANCORP, INC. _______
5 ORIGIN BANCORP, INC. _______
Slide 6: Performance Highlights At-A-Glance - Third Quarter 2024
PERFORMANCE HIGHLIGHTS AT-A-GLANCE - THIRD QUARTER 2024 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS UNAUDITED Key Performance Metrics 3Q24 2Q24 3Q24 Key Highlights • Net interest income for the quarter Balance Sheet Total Loans Held for Investment ("LHFI") $ 7,956,790 $ 7,959,171 ended September
Slide 7: Trending Key Measures
TRENDING KEY MEASURES UNAUDITED Net Income ($) Diluted EPS ($) Total LHFI ($) Total Deposits ($) DOLLARS IN THOUSANDS DOLLARS IN MILLIONS DOLLARS IN MILLIONS % 2% R 10.9 8,487 R 9. 7,957 CA G CAG 0.75 5,725 5,751 0.60 18,601 17,552 2Q 21 2Q 22 2Q 23 2Q 24 1Q20 1Q21 1Q22 1Q23 4Q21 4Q22 4Q23 24 2Q 21
Slide 8: Asset and Stockholders' Equity Growth 1997 - 3Q24
19 97 148 19 98 0 500 1,000 1,500 2,000 2,500 12 19 /31 99 /96 20 00 UNAUDITED 12 20 /31 01 /97 20 02 12 20 /31 03 DOLLARS IN MILLIONS /98 20 04 12 20 /31 05 /99 20 06 20 C 12 07 /31 /00 20 08 AG 12 20 /31 09 20 R1 /01 10 7 12 20 /31 11 /02 20 .0% 12 12 20 /31 13 Total Assets ($) /03 20 14 12 20 /31
Slide 9: Texas Growth Story
TEXAS GROWTH STORY UNAUDITED Texas Franchise Highlights Loan Trends by Texas Market(2) ($) DOLLARS IN MILLIONS • 33 locations throughout 10 counties including the 4th 26.5% and 5th largest MSAs in the United States.(7) CAGR 5,276 5,430 4,747 446 426 • Texas franchise represents 73% of LHFI(2) and 56
Slide 10: Loan Growth
LOAN GROWTH UNAUDITED LHFI Growth excluding MW LOC(8) ($) C&I and Owner Occupied CRE Growth(8) ($) DOLLARS IN MILLIONS DOLLARS IN MILLIONS 8,000 4,000 7,331 7,462 6,805 7,331 7,462 1,212 3,013 3,066 6,000 3,000 2,894 3,013 3,066 627 5,593 4,498 4,094 4,498 1,872 2,267 4,000 2,000 4,094 1,732 1,872 1
Slide 11: Well Diversified Loan Portfolio
(9) WELL DIVERSIFIED LOAN PORTFOLIO UNAUDITED Loan Composition at September 30, 2024: $7,957 million C&I, Owner Occupied CRE and MW LOC: $3,561 million Residential Real Finance & Insurance: 8% Estate - Single Real Estate & Construction: 6% Family & Consumer 18% MW LOC: 6% Commercial & Energy: 3% Ind
Slide 12: Credit Quality
CREDIT QUALITY UNAUDITED Asset Quality Trends (%) 0.95 0.83 0.81 1.49 1.35 0.51 1.05 1.07 0.49 0.85 0.42 0.39 0.34 0.42 0.27 0.14 0.10 0.13 0.15 0.48 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 Nonperforming LHFI / LHFI (%) Classified LHFI / Total LHFI (%) Past due LHFI / LHFI (%) Net Charge-O
Slide 13: CRE Office - Strength and Diversification
CRE OFFICE - STRENGTH AND DIVERSIFICATION NON-OWNER OCCUPIED, UNAUDITED Tenant Classification at September 30, 2024 Key Portfolio Metrics DOLLARS IN MILLIONS DOLLARS IN THOUSANDS September 30, 2024 Other: 23% Medical: 25% Avg. Loan Size $ 2,353 Weighted Avg. LTV 59.01 % Past Due Loans / Loans — $364
Slide 14: Selected Sectors - Key Portfolio Metrics
SELECTED SECTORS - KEY PORTFOLIO METRICS DOLLARS IN THOUSANDS, UNAUDITED Multi-Family Real Estate September 30, 2024 + Hotel Retail Shopping Under Construction Outstanding Loan Balance $ 701,527 $ 106,268 $ 648,764 % of LHFI 8.82 % 1.34 % 8.15 % Avg. Loan Size $ 3,876 $ 5,060 $ 1,634 Weighted Avg. L
Slide 15: Investment Securities
INVESTMENT SECURITIES UNAUDITED Investment Securities Average Balance and Yield DOLLARS IN MILLIONS • Total securities portfolio weighted average effective duration was 4.21 years at September 30, 2024, compared to 4.28 years at June 30, 1,527 2024. 1,291 1,244 1,190 1,185 2.46 2.50 2.51 2.54 2.50 •
Slide 16: Loans & Securities - Repricing or Maturity
LOANS & SECURITIES- REPRICING OR MATURITY UNAUDITED Total Loans at September 30, 2024 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(15) Rate(15) Commercial and industria
Slide 17: Deposit Detail
DEPOSIT DETAIL UNAUDITED Deposit Composition at September 30, 2024(16): $8,487 million Commercial Deposit Composition: $4,633 million Real Estate Rental & Leasing: 7% Brokered: 5% Finance & Insurance: 7% Construction: 6% Public: 10% Professional, Scientific, & Technical Svcs: 5% Other Business Depos
Slide 18: Deposit Trends
DEPOSIT TRENDS UNAUDITED Average Deposits ($) Total Deposit Beta (%) DOLLARS IN MILLIONS 5.26 5.33 5.33 5.33 5.26 8,443 8,361 8,439 8,559 8,498 4.99 4.51 1,627 1,564 1,535 1,470 1,603 56.95 53.33 55.05 3.65 50.48 1,866 1,894 1,850 46.72 2,088 1,973 42.16 35.21 2.18 23.25 4,728 4,785 5,009 5,130 5,17
Slide 19: Yields and Costs
YIELDS AND COSTS UNAUDITED Yield on LHFI (%) 8.43 8.50 8.50 8.50 8.43 6.58 6.58 6.67 6.35 6.46 5.20 5.33 5.33 5.33 5.33 3Q23 4Q23 1Q24 2Q24 3Q24 Yield on LHFI Avg. Prime Rate 30 Day Avg. SOFR Cost of Funds (%) 3.95 4.01 3.85 3.71 3.47 3.12 3.18 3.04 2.89 2.74 3.08 3.14 2.99 2.61 2.84 3Q23 4Q23 1Q24
Slide 20: Net Interest Income and NIM Trends
NET INTEREST INCOME AND NIM TRENDS DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income & NIM ($) NIM-FTE Changes - 3Q24 (%) 0.03 0.03 3.17 0.06 3.18 74,130 73,890 74,804 72,989 73,323 (0.01) (0.01) (0.02) (0.07) 3.00 6,838 5,214 5,783 8,109 9,302 67,292 67,775 67,540 65,781 65,502 2.00 B s t. C cc B
Slide 21: Net Revenue Distribution
NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income + Noninterest Income ($) 92,249 96,355 90,578 90,793 81,185 80.4% 89.9% 81.0% 76.7% 82.4% 3Q23 4Q23 1Q24 2Q24 3Q24 Net Interest Income Noninterest Income Major Components of Noninterest Income(17) ($) Components of Other No
Slide 22: Noninterest Expense Analysis
NONINTEREST EXPENSE ANALYSIS UNAUDITED Noninterest Expense Composition ($) Efficiency Ratios (%) DOLLARS IN THOUSANDS 64,388 62,521 75.02 70.55 60,906 65.24 68.86 67.48 65.55 63.59 58,707 66.82 58,663 64.81 60.49 10,593 9,373 9,795 9,342 8,460 2,137 1,905 2,259 3,072 2,984 2,137 2,264 2,947 2,502 3,
Slide 23: Capital
CAPITAL UNAUDITED Tier 1 Capital to Average Assets (Leverage Ratio)(18) (%) Tier 1 Capital to Risk-Weighted Assets(18) (%) 12.6 12.3 12.2 12.0 12.0 12.4 12.1 12.2 10.9 11.9 10.7 10.7 11.6 10.5 10.3 10.8 10.5 10.6 10.5 10.0 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 Company Level Origin Bank L
Slide 24: Notable Items
NOTABLE ITEMS DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED QTD YTD 3Q24 2Q24 3Q24 $ Impact EPS Impact (20) $ Impact EPS Impact (20) $ Impact EPS Impact (20) Notable interest income items: Interest income reversal on relationships impacted by questioned banker activity $ — $ — $ (1,206)
Slide 25: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 3Q24 2Q24 Calculation of PTPP earnings: Net income $ 18,601 $ 20,989 Provision for credit losses 4,603 5,231 Income tax expense 5,068 5,747 PTPP earnings (non-GAAP) $ 28,272 $ 31,967 Calculation of PTPP ROAA: PTPP earnings
Slide 26: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 3Q24 2Q24 Calculation of ROATCE: Net income $ 18,601 $ 20,989 Divided by number of days in the quarter 92 91 Multiplied by the number of days in the year 366 366 Annualized net income $ 74,000 $ 84,417 Total average stockh
Slide 27: 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: 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 Total common stockholders' equity $ 1,145,673 $ 1,095
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of core efficiency ratio: 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 Total noninterest expense $ 62,521 $ 64,388 $ 58,707 $ 60,906 $ 58,663 $ 58,887 $ 56,760 $ 57,254 Insurance and mortgage noninterest expense (8,
Slide 29: Presentation Notes
PRESENTATION NOTES (1) Does not include wholesale or mortgage warehouse deposits. (2) Excludes mortgage warehouse lines of credit (“MW LOC”). (3) Data obtained from United States Census Bureau (census.gov), Texas Comptroller (comptroller.texas.gov), Office of the Texas Governor (gov.texas.gov), Bure