Slide 1: 3Q22 Investor Presentation
3Q TWENTY22 INVESTOR PRESENTATION ORIGIN BANCORP, INC.
Slide 2: Forward-looking statements
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 performance, business and growth stra
Slide 3: Origin Company Snapshot
ORIGIN BANCORP, INC. _______ 16 TEXAS Entry: DFW 2008 | Houston 2013 | East Texas 2022 Loans: $4,382 Deposits: $4,271 LOUISIANA Entry: 1912 Loans: $1,435 Deposits: $2,873 DOLLARS IN MILLIONS, UNAUDITED (1) (2) 3 ORIGIN COMPANY SNAPSHOT • Origin Bancorp, Inc., the holding company for Origin Bank, is
Slide 4: Enhancing Our Texas Franchise: Merger with BT Holdings
ORIGIN BANCORP, INC. _______ ORIGIN BANK + BTH —— ENHANCING —— OUR TEXAS FRANCHISE 4 COMPLETED MERGER WITH BT HOLDINGS, INC. ON AUGUST 1, 2022 Metric At Announcement (1) Updated TBV Share Dilution (3.6) % (2.5) % 23 EPS Accretion 12.7 5.7 (2) TBV Earnback (years) 2.2 1.6 (2) (1) Estimates provided a
Slide 5: A Unique & Defined Culture
ORIGIN BANCORP, INC. _______ 5 A UNIQUE & DEFINED CULTURE
Slide 6: Financial Highlights
ORIGIN BANCORP, INC. _______ QTD YTD Balance Sheet 3Q22 2Q22 Linked Qtr % Δ 3Q21 YoY % Δ 3Q22 3Q21 YoY % Δ Total Loans Held for Investment ("LHFI") $ 6,882,681 $ 5,528,093 24.5 % $ 5,187,288 32.7 % $ 6,882,681 $ 5,187,288 32.7 % Total Assets 9,462,639 8,111,524 16.7 7,470,478 26.7 9,462,639 7,470,47
Slide 7: Trending Key Measures
ORIGIN BANCORP, INC. _______ TRENDING KEY MEASURES 47,785 92,246 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 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 Total Revenues ($) UNAUDITED Diluted EPS ($)Net Income ($) Total LHFI, Adjusted ($)(2) Total Deposits ($) 0.53 0.57 2Q 18 3Q 18
Slide 8: Trending Key Measures Continued
ORIGIN BANCORP, INC. _______ TRENDING KEY MEASURES CONTINUED Efficiency Ratio (%) 60.97 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 UNAUDITED Net Charge Offs ($) 121 1,078 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 2
Slide 9: Asset and Stockholders' Equity Growth
ORIGIN BANCORP, INC. _______ ASSET AND STOCKHOLDERS' EQUITY GROWTH 1997 - 9/30/2022 UNAUDITED, DOLLARS IN MILLIONS Total Assets ($) 148 9,463 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 9/ 30 /2
Slide 10: Texas Growth Story
ORIGIN BANCORP, INC. _______ 10 1,741 1,956 2,247 2,620 4,382 1,067 1,127 1,343 1,545 1,766 806 674 829 904 1,075 1,415 395 DFW DFW-BTH Houston East Texas 2018 2019 2020 2021 3Q22 Deposit Trends by Texas Market ($) (2) Loan Trends by Texas Market ($) (1) TEXAS GROWTH STORY Texas Franchise Highlights
Slide 11: Loan Growth
ORIGIN BANCORP, INC. _______ 11 LOAN GROWTH 3,581 3,869 4,094 4,498 6,422 3,581 3,869 4,094 4,498 5,221 0 0 — 1,201 Origin BTH 2018 2019 2020 2021 3Q22 2,000 3,000 4,000 5,000 6,000 7,000 LHFI Key Data DOLLARS IN MILLIONS, UNAUDITED IDT 582632 • LHFI, excluding mortgage warehouse lines of credit, in
Slide 12: Well Diversified Loan Portfolio
ORIGIN BANCORP, INC. _______ Real Estate & Construction: 7% Retail Shopping: 6% Office Building: 5% Healthcare: 3% Multi-family: 2% Hotel: 1% Restaurant: 1% Finance & Insurance: 1% Gov. & Edu.: 1% Misc: 2% Commercial & Industrial ("C&I") 28% Owner Occupied Construction/ Land/Land Development ("C&D")
Slide 13: Deposit Trends
ORIGIN BANCORP, INC. _______ 13 3,658 3,616 3,976 3,767 4,157 1,966 2,111 2,218 2,289 2,583 582 562 535 503 6706,206 6,289 6,729 6,559 7,410 Interest-bearing Demand Noninterest-bearing Time Deposits 3Q21 4Q21 1Q22 2Q22 3Q22 Average Deposits ($) DEPOSIT TRENDS 0.67 0.59 0.54 0.49 0.51 0.30 0.28 0.26
Slide 14: Credit Quality
ORIGIN BANCORP, INC. _______ 1.52 1.35 1.36 0.94 1.01 Classified LHFI / Total LHFI, adjusted (%) Net Charge-Offs / Average LHFI excl. PPP Loans (annualized) (%) 3Q21 4Q21 1Q22 2Q22 3Q22 0.24 0.22 0.14 0.12 0.49 0.49 0.41 0.25 0.52 0.50 0.42 0.13 Nonperforming LHFI / LHFI, excl. PPP loans (%) Past du
Slide 15: Yields, Costs and LHFI Profile
ORIGIN BANCORP, INC. _______ 15 YIELDS, COSTS AND LHFI PROFILE Yield on LHFI (%) 4.05 4.11 4.08 4.26 4.94 3.25 3.25 3.29 3.94 5.36 1.02 2.47 0.05 0.05 0.71 2.14 Yield on LHFI Yield on LHFI excl. PPP Loans and PAA Avg. Prime Rate Avg. 1M LIBOR Avg. SOFR 3Q21 4Q21 1Q22 2Q22 3Q22 Cost of Funds (%) (1)
Slide 16: Net Interest Income and NIM Trends
ORIGIN BANCORP, INC. _______ 16 DOLLARS IN THOUSANDS, UNAUDITED 52,541 54,180 52,502 59,504 78,523 42,884 45,035 46,202 54,241 71,494 5,962 5,385 3,897 4,544 5,614 3,695 3,760 2,403 719 1,415 3.02 3.06 2.86 3.23 3.68 2.87 2.85 2.70 3.14 3.56 Net Interest Income excl. MW LOC, adjusted ($) MW LOC Net
Slide 17: Investment Securities
ORIGIN BANCORP, INC. _______ 1,133 1,505 1,662 1,869 1,865 1.76 1.63 1.59 1.85 2.12 Total Securities ($) Yield (%) 3Q21 4Q21 1Q22 2Q22 3Q22 Investment Securities Average Balance and Yield INVESTMENT SECURITIES DOLLARS IN MILLIONS, UNAUDITED • The available for sale securities portfolio ended 3Q22 wi
Slide 18: Net Revenue Distribution
ORIGIN BANCORP, INC. _______ Service Charges & Fees Mortgage Banking Revenue Insurance Commission & Fee Income Other 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 18 Net Interest Income Noninterest Income 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4
Slide 19: Noninterest Expense Analysis
ORIGIN BANCORP, INC. _______ 39,165 40,346 42,774 44,150 56,241 23,629 24,718 26,488 27,310 31,834 4,353 4,306 4,427 4,514 5,399 2,329 2,302 2,486 2,413 2,689 1,598 1,849 1,560 2,162 2,121 1,949 1,880 1,305 1,517 1,599 3,614 5,307 5,291 5,937 5,427 8,985 Salaries and Employee Benefits Occupancy and
Slide 20: Capital
ORIGIN BANCORP, INC. _______ 9.2 9.2 8.8 9.1 9.6 9.5 9.7 9.3 9.5 9.1 Company Level Origin Bank Level 3Q21 4Q21 1Q22 2Q22 3Q22 11.4 11.4 11.3 11.0 10.7 11.8 12.0 11.9 11.4 10.9 Company Level Origin Bank Level 3Q21 4Q21 1Q22 2Q22 3Q22 20 CAPITAL Bank Level Company Level Sub-debt Impact 15.0 14.8 14.6
Slide 21: Calculation of PTPP Earnings and Tangible Book Value
ORIGIN BANCORP, INC. _______ Calculation of PTPP Earnings: 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Net Income $ 16,243 $ 21,311 $ 20,683 $ 28,322 $ 26,978 $ 27,733 $ 25,513 $ 17,552 $ 13,095 Plus: Provision for Credit Losses 16,942 3,452 (327) (2,647) (3,921) (5,609) 1,412 6,333 13,633 Plus: In
Slide 22: Calculation of Core Efficiency Ratio
ORIGIN BANCORP, INC. _______ Calculation of Core Efficiency Ratio: 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Net Interest Income $ 78,523 $ 59,504 $ 52,502 $ 54,180 $ 52,541 $ 54,292 $ 55,239 $ 51,819 $ 50,617 Less: Insurance and Mortgage Net Interest Income 1,208 1,082 875 946 1,048 979 1,003 1,
Slide 23: Calculation of Adjusted Net Income
ORIGIN BANCORP, INC. _______ 3Q22 2Q22 3Q21 Calculation of adjusted net income: Net interest income after provision for credit losses $ 61,581 $ 56,052 $ 56,462 Add: CECL provision for non-PCD loans 14,890 — — Adjusted net interest income after provision for credit losses 76,471 56,052 56,462 Total
Slide 24: Reconciliation of Non-GAAP Financial Measures
ORIGIN BANCORP, INC. _______ 3Q22 2Q22 3Q21 Calculation of PTPP Earnings: Net Income $ 16,243 $ 21,311 $ 26,978 Add: Provision for Credit Losses 16,942 3,452 (3,921) Add: Income Tax Expense 2,820 4,807 6,242 PTPP Earnings $ 36,005 $ 29,570 $ 29,299 Calculation of PTPP ROA and PTPP ROE: PTPP Earnings
Slide 25: Nine Months PTPP and Core Efficiency Ratio
ORIGIN BANCORP, INC. _______ Nine Months Ended September 30, 2022 September 30, 2021 Calculation of PTPP earnings: Net income $ 58,237 $ 80,224 Add: Provision for credit losses 20,067 (8,118) Add: Income tax expense 12,905 19,025 PTPP earnings $ 91,209 $ 91,131 Calculation of PTPP ROA and PTPP ROE:
Slide 26: Nine Months Adjusted Net Income
ORIGIN BANCORP, INC. _______ Nine Months Ended September 30, 2022 September 30, 2021 Calculation of adjusted net income: Net interest income after provision for credit losses $ 170,462 $ 170,190 Add: CECL provision on non-PCD loans 14,890 — Adjusted net interest income after provision for credit los