Slide 1: Origin Bancorp, Inc. 4Q24 Investor Presentation
ORIGIN BANCORP, INC. 4Q 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”, “we”, “our” or the “Com
Slide 3: Deposits & Loans by State
BEST BANKS TO WORK FOR IN AMERICA 12 CONSECUTIVE YEARS 15 18 7 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: $2,810 Loans: $2,022 Loans: $418 56% Deposits*: $2,11
Slide 4: Optimize Origin: Financial Outlook
OPTIMIZE ORIGIN TO DELIVER ELITE LEVEL FINANCIAL PERFORMANCE PRODUCTIVITY, DELIVERY BALANCE SHEET CULTURE & EMPLOYEE & EFFICIENCY OPTIMIZATION ENGAGEMENT 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 (Yr/Yr)
Slide 5: Optimize Origin: Optimizations and Annualized Benefit
OPTIMIZE ORIGIN TO DELIVER ELITE LEVEL FINANCIAL PERFORMANCE OPTIMIZATIONS REALIZATION TIMELINE ANNUALIZED BENEFIT (pre-tax) • Branch and retail staff consolidation 4Q24 and 1Q25 ~ $4.6MM • Commercial and mortgage banker 4Q24 and 1Q25 ~ $6.7MM profitability optimization • Restructured $188M of secur
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 November 2023 to November 2024 with 274,300 nonfarm jobs added NET MIGRATION INTO OUR MARKETS l Home to 52 Fortune 500 compan
Slide 7: ORIGIN BANCORP, INC. _______
7 ORIGIN BANCORP, INC. _______
Slide 8: Performance Highlights At-A-Glance - Fourth Quarter 2024
PERFORMANCE HIGHLIGHTS AT-A-GLANCE - FOURTH QUARTER 2024 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS UNAUDITED Key Performance Metrics 4Q24 3Q24 4Q24 Key Highlights Balance Sheet Total Loans Held for Investment ("LHFI") $ 7,573,713 $ 7,956,790 • Optimize Origin - Our newly announced initiative to
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 .2% 1.08 R7 R 7.1 % CAG 8,223 CAG 7,574 6,346 25,513 5,850 0.46 14,270 3Q 21 3Q 22 3Q 23 3Q 24 2Q21 2Q22 2Q23 2Q24 1Q21 1Q22 1Q23 24 3Q 21 3Q
Slide 10: Asset and Stockholders' Equity Growth 1997-2024
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 12 20 C /31 07 /00 20 08 AG 12 20 /31 09 /01 20 R1 10 6 12 20 /31 11 /02 20 .7% 12 12 /31 20 /03 13 Total Assets ($) 20 12 14 /31 20
Slide 11: Texas Growth Story
TEXAS GROWTH STORY UNAUDITED Texas Franchise Highlights Loan Trends by Texas Market(2) ($) DOLLARS IN MILLIONS • 33 locations throughout 10 counties including the 4th 23.6% and 5th largest MSAs in the United States.(8) CAGR 5,276 5,250 4,747 446 418 • Texas franchise represents 74% of LHFI(2) and 56
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 6,805 7,331 7,225 1,212 3,013 2,979 6,000 3,000 2,894 3,013 2,979 627 5,593 4,498 4,094 4,498 1,872 2,267 4,000 2,000 4,094 1,732 1,872
Slide 13: Well Diversified Loan Portfolio
(11) WELL DIVERSIFIED LOAN PORTFOLIO UNAUDITED Loan Composition at December 31, 2024: $7,574 million C&I, Owner Occupied CRE and MW LOC: $3,328 million Residential Real Finance & Insurance: 7% Estate - Single Real Estate & Construction: 7% Family 19% MW LOC: 5% & Consumer Commercial & Energy: 4% Ind
Slide 14: Credit Quality
CREDIT QUALITY UNAUDITED Asset Quality Trends (%) 0.95 0.99 0.83 0.81 1.49 1.57 1.35 0.51 0.56 1.05 1.07 0.49 0.39 0.34 0.42 0.10 0.13 0.15 0.48 (0.03) 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 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 December 31, 2024 Key Portfolio Metrics DOLLARS IN MILLIONS DOLLARS IN THOUSANDS December 31, 2024 Other: 25% Medical: 26% Avg. Loan Size $ 2,221 Weighted Avg. LTV 58.45 % Past Due Loans / Loans — $351.0
Slide 16: Selected Sectors - Key Portfolio Metrics
SELECTED SECTORS - KEY PORTFOLIO METRICS DOLLARS IN THOUSANDS, UNAUDITED Multi-Family Real Estate December 31, 2024 + Hotel Retail Shopping Under Construction Outstanding Loan Balance $ 636,989 $ 104,984 $ 622,432 % of LHFI 8.41 % 1.39 % 8.22 % Avg. Loan Size $ 3,661 $ 5,525 $ 1,621 Weighted Avg. LT
Slide 17: Investment Securities
INVESTMENT SECURITIES UNAUDITED Investment Securities Average Balance and Yield • AFS Bond Portfolio Optimization details: DOLLARS IN MILLIONS • AFS Sold - BV: $188.2 million; Wtd Avg Yield (“WAY”): 1.51%; • AFS Purchased - BV: $173.7 million; WAY: 5.22%; • Realized Loss: $14.6 million • Estimated E
Slide 18: Loans & Securities - Repricing or Maturity
LOANS & SECURITIES- REPRICING OR MATURITY UNAUDITED Total Loans at December 31, 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(17) Rate(17) Commercial and industrial
Slide 19: Deposit Detail
DEPOSIT DETAIL UNAUDITED Deposit Composition at December 31, 2024: $8,223 million Commercial Deposit Composition: $4,505 million * Brokered: 1% Finance & Insurance: 8% Real Estate Rental & Leasing: 8% Public Funds: 12% Construction: 6% Other Business Deposits <2%: 6% Professional, Scientific, & Tech
Slide 20: Deposit Trends
DEPOSIT TRENDS UNAUDITED Average Deposits ($) Index-Based Deposits DOLLARS IN MILLIONS 8,361 8,439 8,559 8,498 8,496 Index-based Interest- bearing Deposits Noninterest-bearing 1,603 1,564 1,535 1,470 1,214 Deposits 1,941 10% 1,894 1,850 1,973 1,866 23% 5,009 5,130 5,178 5,341 4,785 67% 4Q23 1Q24 2Q2
Slide 21: Yields and Costs
YIELDS AND COSTS UNAUDITED Yield on LHFI (%) 8.50 8.50 8.50 8.43 7.82 6.58 6.58 6.67 6.46 6.47 5.33 5.33 5.33 5.33 4.78 4Q23 1Q24 2Q24 3Q24 4Q24 Yield on LHFI Avg. Prime Rate 30 Day Avg. SOFR Cost of Funds (%) 3.95 4.01 3.85 3.71 3.61 3.12 3.18 3.04 2.89 2.82 3.08 3.14 2.99 2.84 2.79 4Q23 1Q24 2Q24
Slide 22: Net Interest Income and NIM Trends
NET INTEREST INCOME AND NIM TRENDS DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income & NIM ($) NIM-FTE Changes - 4Q24 (%) 78,349 0.02 0.02 0.02 74,804 0.16 72,989 73,323 73,890 (0.02) 8,393 (0.03) 5,214 5,783 8,109 9,302 (0.08) 69,956 0.16 3.33 67,775 67,540 65,781 65,502 (0.10) 3.18 3.00 s C B s
Slide 23: Net Revenue Distribution
NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income + Noninterest Income ($)(3) 87,560 90,571 91,492 90,572 92,438 83.4% 81.0% 82.1% 82.6% 84.8% 4Q23 1Q24 2Q24 3Q24 4Q24 Net Interest Income Noninterest Income Major Components of Noninterest Income(19) ($) Components of Other
Slide 24: Noninterest Expense Analysis / Efficiency Ratio
NONINTEREST EXPENSE ANALYSIS UNAUDITED Noninterest Expense Composition ($) Efficiency Ratios (%) DOLLARS IN THOUSANDS 65,422 64,388 62,521 83.85 60,906 82.79 58,707 75.02 10,593 70.55 13,007 68.86 9,373 67.48 66.82 65.24 64.81 65.55 9,795 8,460 2,137 1,905 1,800 2,259 3,072 2,984 2,137 2,883 2,947 2
Slide 25: Capital
CAPITAL UNAUDITED Tier 1 Capital to Average Assets (Leverage Ratio)(20) (%) Tier 1 Capital to Risk-Weighted Assets(20) (%) 13.5 12.6 12.2 12.3 13.3 12.0 11.1 12.4 10.9 12.1 12.2 11.9 10.7 10.7 10.5 10.9 10.8 10.6 10.5 10.5 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 Company Level Origin Bank L
Slide 26: Notable Items
NOTABLE ITEMS DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED QTD YTD 4Q24 3Q24 4Q24 $ Impact EPS Impact (22) $ Impact EPS Impact (22) $ Impact EPS Impact (22) Notable interest income items: Interest income reversal on relationships impacted by questioned banker activity $ — $ — $ — $ — $
Slide 27: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 4Q24 3Q24 Calculation of PTPP earnings: Net income $ 14,270 $ 18,601 Provision (benefit) for credit losses (5,398) 4,603 Income tax expense 3,725 5,068 PTPP earnings (non-GAAP) $ 12,597 $ 28,272 Calculation of PTPP ROAA: P
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED 4Q24 3Q24 Calculation of ROATCE: Net income $ 14,270 $ 18,601 Divided by number of days in the quarter 92 92 Multiplied by the number of days in the year 366 366 Annualized net income $ 56,770 $ 74,000 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: 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 Total common stockholders' equity $ 1,145,245 $ 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: 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 Total noninterest expense $ 65,422 $ 62,521 $ 64,388 $ 58,707 $ 60,906 $ 58,663 $ 58,887 $ 56,760 Insurance and mortgage noninterest expense (8,
Slide 31: Presentation Notes
PRESENTATION NOTES (1) Excludes Treasury / wholesale deposits of $41.9 million at December 31, 2024. (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), Off