Page 1

EX - 99.1 2 a03312021obnkexhibit991er.htm EX - 99.1 Exhibit 99.1 For Immediate Release Origin Bancorp , Inc. ORIGIN BANCORP , INC . REPORTS EARNINGS FOR FIRST QUARTER 2021 RUSTON , Louisiana ( April 28 , 2021 ) - Origin Bancorp , Inc. ( Nasdaq : OBNK ) ( " Origin " or the " Company " ) , the holding company for Origin Bank ( the " Bank " ) , today announced record net income of $ 25.5 million for the quarter ended March 31 , 2021. This represents an increase of $ 8.0 million from the quarter ended December 31 , 2020 , and an increase of $ 24.8 million from the quarter ended March 31 , 2020. Diluted earnings per share for the quarter ended March 31 , 2021 , were $ 1.08 , up $ 0.33 from the linked quarter and up $ 1.05 from the quarter ended March 31 , 2020. Pre - tax , pre - provision earnings for the quarter were a record $ 32.9 million , an increase of 16.3 % on a linked quarter basis , and a 74.7 % increase on a prior year quarter basis , while the efficiency ratio improved to 54.5 % , a 1,120 basis point improvement from the quarter ended March 31 , 2020 . " Origin delivered strong first quarter results hitting another historic pre - tax , pre - provision earnings high and an all - time quarterly net income high " said Drake Mills , chairman , president and CEO of Origin Bancorp , Inc. “ Our employees remain focused on relationship development and our results for the quarter prove that focus . We will continue to provide shareholder value as we execute on our long- term strategic plan and capitalize on the opportunities before us . " Financial Highlights • • • • Net income was $ 25.5 million for the quarter ended March 31 , 2021 , achieving an all - time quarterly high compared to $ 17.6 million for the linked quarter and $ 753,000 for the quarter ended March 31 , 2020 . Net interest income also achieved a historic quarterly high , reflecting $ 55.2 million for the quarter ended March 31 , 2021 , compared to $ 51.8 million for the linked quarter and $ 42.8 million for the quarter ended March 31 , 2020 . Provision expense was $ 1.4 million for the quarter ended March 31 , 2021 , compared to provision expense of $ 6.3 million for the linked quarter and $ 18.5 million for the quarter ended March 31 , 2020 . Total deposits at March 31 , 2021 , were $ 6.35 billion , an increase of $ 594.9 million , or 10.3 % , from December 31 , 2020 , and an increase of $ 1.79 billion , or 39.3 % , from March 31 , 2020 . Total LHFI were $ 5.85 billion at March 31 , 2021 , an increase of $ 125.0 million , or 2.2 % , from December 31 , 2020 , and an increase of $ 1.37 billion , or 30.5 % , from March 31 , 2020 . Coronavirus ( COVID - 19 ) Origin has continued to meet customers ' needs while keeping the safety and well - being of its employees and customers as its top priority . While the Company allowed restricted access to its offices and branches during the height of the pandemic , the Company's offices and branches have been fully opened since March 15 , 2021. Origin continues to maintain social distancing measures for its employees , including the requirement to wear face masks unless working in an office or other location that permits social distancing . The Company also continues to encourage its employees to wash their hands thoroughly and frequently and to sanitize work areas when necessary to promote the safety and health of its employees and customers . Thermal kiosks for temperature checks are in use at the entrance of each location and customers are encouraged to wear face masks when entering Origin bank facilities . The Company continues to provide pandemic Paid Time Off to employees and a dedicated hotline is available to quickly assist employees with any COVID - 19 related questions or issues . Origin will continue to examine and evaluate its COVID - 19 safety protocols in accordance with public health directives . 1