Slide 1: Origin Bancorp, Inc. 1Q23 Investor Presentation
ORIGIN BANCORP, INC. 1Q TWENTY23 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: Origin Company Snapshot
ORIGIN COMPANY SNAPSHOT • Origin Bancorp, Inc. is the holding company for Origin Bank. 17 9 19 6 • Origin Bank was founded in 1912 and is headquartered in Choudrant, LA. 9 • 60 banking centers operating across Texas, Louisiana & Mississippi DEPOSITS & LOANS BY STATE Deposits (1) Loans (2) DOLLARS IN
Slide 4: A Unique & Defined Culture
A UNIQUE & DEFINED CULTURE 4 ORIGIN BANCORP, INC. _______
Slide 5: Performance Highlights At-A-Glance - First Quarter 2023
PERFORMANCE HIGHLIGHTS AT-A-GLANCE - FIRST QUARTER 2023 DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED 1Q23 Key Highlights 1Q23 4Q22 Key Performance Metrics Reported Adjusted Reported Adjusted • Total deposits were $8.17 billion at March Total Loans Held for 31, 2023, reflecting an increa
Slide 6: Trending Key Measures
2Q 2Q 1 1 12,283 3Q 9 3Q 9 3,985 19 19 4Q 4Q 19 19 UNAUDITED 1Q 1Q 2 2 2Q 0 2Q 0 20 20 3Q 3Q 20 20 DOLLARS IN MILLIONS 4Q 4Q 2 2 DOLLARS IN THOUSANDS 1Q 0 1Q 0 21 21 2Q 2Q 21 21 3Q 3Q 2 2 4Q 1 4Q 1 21 21 Total LHFI ($) Net Income ($) 1Q 1Q 22 22 2Q 2Q 2 2 3Q 2 3Q 2 22 22 4Q 4Q 22 22 1Q 1Q 23 23 7,37
Slide 7: Trending Key Measures Continued
2Q 2Q 1 1 677 3Q 9 3Q 9 24.58 19 19 4Q 4Q 19 19 1Q 1Q UNAUDITED 2 2 2Q 0 2Q 0 20 20 3Q 3Q 20 20 4Q 4Q 2 2 1Q 0 1Q 0 DOLLARS IN THOUSANDS 21 21 2Q 2Q 21 21 3Q 3Q 2 2 4Q 1 4Q 1 21 21 1Q 1Q 22 22 Net Charge Offs ($) 2Q 2Q 2 2 3Q 2 3Q 2 22 22 4Q 4Q 22 22 Book Value per Common Share ($)(5) 1Q 1Q 23 23 32
Slide 8: Trending Key Non-GAAP Measures
TRENDING KEY NON-GAAP MEASURES(3) UNAUDITED Adjusted Net Income ($) Adjusted PTPP Earnings ($) Adjusted Diluted EPS ($) DOLLARS IN THOUSANDS DOLLARS IN THOUSANDS 36,627 24,188 0.78 16,683 0.50 11,993 3Q 9 3Q 9 3Q 9 2Q 0 2Q 0 2Q 0 1Q 0 1Q 0 1Q 0 4Q 1 4Q 1 4Q 1 3Q 2 3Q 2 3Q 2 23 23 23 19 19 19 20 20 2
Slide 9: Trending Key Non-GAAP Measures Continued
2Q 2Q 1 1 0.95 3Q 9 3Q 9 11.60 19 19 4Q 4Q 19 19 1Q 1Q 2 2 2Q 0 2Q 0 20 20 3Q 3Q 20 20 4Q 4Q 2 2 1Q 0 1Q 0 UNAUDITED, ANNUALIZED 21 21 2Q 2Q 21 21 3Q 3Q 2 2 4Q 1 4Q 1 21 21 1Q 1Q 22 22 Adjusted ROAA (%) 2Q 2Q 2 2 Adjusted PTPP ROAE (%) 3Q 2 3Q 2 22 22 4Q 4Q 22 22 1Q 1Q 23 23 1.00 15.22 * Please see
Slide 10: Asset and Stockholders' Equity Growth 1997 - 1Q23
ASSET AND STOCKHOLDERS' EQUITY GROWTH 1997 - 1Q23 Total Assets ($) Total Stockholders' Equity ($) UNAUDITED, DOLLARS IN MILLIONS UNAUDITED, DOLLARS IN MILLIONS 10,359 993 8. 32% 5 2% R1 R 19. G AG CA C 148 11 01 18 08 98 15 05 11 1Q 2 12 02 19 11 09 99 16 06 23 13 03 20 10 00 17 19 07 02 97 12 14 1Q
Slide 11: Texas Growth Story
TEXAS GROWTH STORY Texas Franchise Highlights Loan Trends by Texas Market ($)(12) DOLLARS IN MILLIONS, UNAUDITED • 35 locations throughout 10 counties including the 4th and 33.1% 5th largest MSAs in the United States.(11) CAGR 4,747 4,953 375 • Texas franchise represents 70% of LHFI, excluding 369 m
Slide 12: Loan Growth
LOAN GROWTH LHFI Growth excluding MW LOC ($)(13) C&I, Owner Occupied CRE and C&D Growth ($)(13) DOLLARS IN MILLIONS, UNAUDITED DOLLARS IN MILLIONS, UNAUDITED 20.2% 8,000 4,000 : CAGR 7,038 R : 17.4% 6,805 CAG 3,160 3,200 1,212 6,000 3,000 668 5,593 4,498 2,492 4,094 2,032 4,000 3,869 1,902 2,000 1,8
Slide 13: Well Diversified Loan Portfolio
WELL DIVERSIFIED LOAN PORTFOLIO(14) Loan Composition at March 31, 2023: $7,376 million C&I, Owner Occupied CRE and C&D, MW LOC: $3,537 million Real Estate & Construction: 9% Finance & Insurance: 6% Residential Real Estate Mtg. WH LOC: 5% Commercial & & Consumer Transportation Svcs: 3% Industrial ("C
Slide 14: Credit Quality
CREDIT QUALITY Asset Quality Trends (%) 1.36(16) 1.17 (16) 0.94(16) 1.01 1.05 0.41(16) 0.42 0.25(16) 0.23 0.13(16) 0.20 0.16 0.14 0.15 0.16 0.14(16) 0.12(16) 0.01 0.07 0.07 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Nonperforming LHFI / LHFI (%) Classified LHFI / Total LHFI, adjusted (%) Past
Slide 15: CRE Office - Strength and Diversification
CRE OFFICE - STRENGTH AND DIVERSIFICATION Tenant Classification Key Portfolio Metrics DOLLARS IN MILLIONS, UNAUDITED National Credit Tenant: 19% Medical: 24% DOLLARS IN THOUSANDS, UNAUDITED 03/31/2023 Avg. Loan Size $ 2,199 $380.5M Other: 22% Financial: 15% Weighted Avg. LTV 53.30 % Energy: 10% Law
Slide 16: Investment Securities
INVESTMENT SECURITIES Investment Securities Average Balance and Yield DOLLARS IN MILLIONS, UNAUDITED 1,869 1,865 • The fair value of the held to maturity securities 1,662 1,675 1,634 portfolio totaled $12.0 million at 1Q23, compared to $12.0 million at 4Q22. • Securities of $38.7 million were sold d
Slide 17: Deposit Detail
DEPOSIT DETAIL Deposit Composition at March 31, 2023: $8,174 million Commercial Deposit Composition: $4,253 million Real Estate Rental & Leasing: 7% Brokered: 4% Finance & Insurance: 6% Professional, Scientific, & Technical Svcs: 6% Public: 11% Construction: 6% Mgmt of Companies & Enterprises: 4% Af
Slide 18: Deposit Trends
DEPOSIT TRENDS Average Deposits ($) Total Deposit Beta (%) DOLLARS IN MILLIONS, UNAUDITED 4.51 7,710 8,017 7,410 977 3.65 6,729 6,559 670 754 535 503 2,593 2,392 2,583 2.18 2,218 2,289 0.77 4,363 4,648 3,976 3,767 4,157 0.12 23.0 36.0 0.0 10.0 -50 1Q22 2Q22 3Q22 4Q22 1Q23 Interest-bearing Demand Non
Slide 19: Yields and Costs
YIELDS AND COSTS Yield on LHFI (%) 7.69 6.82 6.03 5.63 5.36 5.94 4.94 5.53 4.08 4.26 4.21 4.62 3.91 3.95 4.86 4.49 3.94 2.47 3.62 3.29 1.02 2.14 0.23 0.71 0.09 1Q22 2Q22 3Q22 4Q22 1Q23 (19) Yield on LHFI Yield on LHFI excl. PPP Loans and PAA Avg. Prime Rate Avg. 1M LIBOR Avg. SOFR Cost of Funds (%)
Slide 20: Net Interest Income and NIM Trends
NET INTEREST INCOME AND NIM TRENDS DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income Changes - 1Q23 (%) 84,749 4.50 1,897 78,523 0.16 0.02 0.01 4,678 77,147 1,415 0.21 (0.02) 78,174 1,703 (0.03) 5,614 3,009 4.00 (0.10) 3.81 72,435 (0.14) 71,494 3.50 3.44 59,504 719 (0.48) 3.81 4,544 52,502 3.68 2,
Slide 21: Net Revenue Distribution
NET REVENUE DISTRIBUTION DOLLARS IN THOUSANDS, UNAUDITED Net Interest Income + Noninterest Income ($) 93,531 54,145 82.5% 79.4% 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 Net Interest Income Noninterest Income Noninterest Income ($)(22) Components of Other Nonint
Slide 22: Noninterest Expense Analysis / Efficiency Ratio
NONINTEREST EXPENSE ANALYSIS Noninterest Expense Composition ($) Efficiency Ratios (%)(3) DOLLARS IN THOUSANDS, UNAUDITED 57,254 56,760 56,241 62.53 60.97 60.69 59.89 58.93 58.32 58.64 7,498 7,289 7,113 54.10 53.06 52.16 1,179 1,465 3,614 1,676 2,303 44,150 2,277 42,774 1,599 2,553 2,121 2,554 4,902
Slide 23: Capital
CAPITAL Tier 1 Capital to Risk-Weighted Assets (%)(23) Total Capital to Risk-Weighted Assets (%)(23) Bank Level Company Level Sub-debt Impact 11.9 11.7 14.6 11.4 11.5 14.1 14.2 14.3 13.8 10.9 11.3 11.3 13.9 11.1 13.4 13.4 13.6 11.0 10.7 12.8 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Company
Slide 24: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted net income: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Net interest income after provision for credit losses $ 70,950 $ 80,125 $ 61,581 $ 56,052 $ 52,829 $ 56,827 $ 56,462 $ 59,901 Add: CECL provision
Slide 25: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted net income, continued: 1Q21 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 Net interest income after provision for credit losses $ 53,827 $ 45,486 $ 36,984 $ 24,887 $ 24,279 $ 41,718 $ 40,421 $ 40,984 Total non
Slide 26: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted PTPP earnings: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Provision for credit losses $ 6,197 $ 4,624 $ 16,942 $ 3,452 $ (327) $ (2,647) $ (3,921) $ (5,609) Less: CECL provision for non-PCD loans — — 1
Slide 27: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, UNAUDITED Calculation of adjusted dilutive EPS: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Numerator: Adjusted net income $ 24,188 $ 30,409 $ 31,087 $ 21,949 $ 21,134 $ 24,144 $ 26,978 $ 27,729 Denominator: We
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted ROAA and ROAE: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Adjusted net income $ 24,188 $ 30,409 $ 31,087 $ 21,949 $ 21,134 $ 24,144 $ 26,978 $ 27,729 Divided by number of days in the quarter 90 92 92 9
Slide 29: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of adjusted PTPP ROAA & ROAE: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Adjusted PTPP earnings $ 36,627 $ 42,103 $ 39,905 $ 30,377 $ 26,205 $ 25,247 $ 29,299 $ 28,893 Divided by number of days in the quarter 90 9
Slide 30: 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, adjusted tangible book value per common share and tangible common equity to total assets: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Total assets
Slide 31: 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, adjusted tangible book value per common share and tangible common equity to total assets, continued: 1Q21 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 To
Slide 32: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of ROATCE and Adjusted ROATCE: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Net income $ 24,302 $ 29,478 $ 16,243 $ 21,311 $ 20,683 $ 28,322 $ 26,978 $ 27,733 Divided by number of days in the quarter 90 92 92 91 90
Slide 33: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES DOLLARS IN THOUSANDS, UNAUDITED Calculation of Adjusted Efficiency Ratio: 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 Total noninterest expense $ 56,760 $ 57,254 $ 56,241 $ 44,150 $ 42,774 $ 40,346 $ 39,165 $ 37,832 Less: Insurance and mortgage noninterest e
Slide 34: Presentation Notes
PRESENTATION NOTES (1) Does not include non-market based deposits. (2) Excludes mortgage warehouse loans. (3) As used in this presentation, adjusted net income, adjusted PTPP earnings, adjusted diluted EPS, adjusted ROAA, adjusted PTPP ROAA, adjusted ROAE, adjusted PTPP ROAE, tangible book value per