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EX - 99.1 2 a09302021obnkexhibit991er.htm EX - 99.1 Exhibit 99.1 For Immediate Release Origin Bancorp , Inc. ORIGIN BANCORP , INC . REPORTS EARNINGS FOR THIRD - QUARTER 2021 RUSTON , Louisiana ( October 27 , 2021 ) - Origin Bancorp , Inc. ( Nasdaq : OBNK ) ( " Origin " or the " Company " ) , the holding company for Origin Bank ( the " Bank " ) , today announced net income of $ 27.0 million for the quarter ended September 30 , 2021 , or $ 1.14 diluted earnings per share , compared to net income of $ 27.7 million for the quarter ended June 30 , 2021 , or $ 1.17 diluted earnings per share . Net income was $ 13.1 million , or $ 0.56 diluted earnings per share for the quarter ended September 30 , 2020. Pre - tax , pre - provision earnings for the quarter were $ 29.3 million , a 1.4 % increase on a linked quarter basis , and a 2.1 % decrease from the third quarter of 2020 . " Origin Bancorp delivered another strong quarter of earnings as our bankers remained focused on the fundamental core aspects of our business , " said Drake Mills , chairman , president and CEO of Origin Bancorp , Inc. “ I'm very pleased with the 9 % annualized growth on loans excluding PPP and mortgage warehouse . I'm also proud to announce that we have entered into an agreement to acquire The Lincoln Agency , an insurance agency operating out of North Louisiana . This acquisition provides the opportunity to augment noninterest income and create additional long - term value for our company . As the economic outlook continues to improve , Origin is in a position of strength to drive value for our employees , customers , communities and shareholders . " Financial Highlights • • • • • Total LHFI at September 30 , 2021 , excluding PPP and mortgage warehouse lines of credit , were $ 4.26 billion , reflecting a $ 95.9 million or 2.3 % increase compared to the linked quarter , and an increase of $ 214.2 million , or 5.3 % compared to September 30 , 2020. Total LHFI , excluding PPP and mortgage warehouse lines of credit , grew at an annualized rate of 9.2 % during the current quarter . Total securities grew $ 512.4 million , or 50.1 % , to $ 1.54 billion at September 30 , 2021 , compared to $ 1.02 billion at June 30 , 2021 , and increased $ 687.9 million , or 81.2 % , compared to September 30 , 2020 . Total deposits grew $ 130.4 million , or 2.2 % , to $ 6.16 billion at September 30 , 2021 , compared to $ 6.03 billion at June 30 , 2021 , and increased $ 222.8 million , or 3.8 % , compared to September 30 , 2020. Noninterest - bearing deposits grew $ 119.1 million , or 6.4 % , compared to June 30 , 2021 , and $ 380.7 million , or 23.8 % , compared to September 30 , 2020 . Provision for credit losses was a net benefit of $ 3.9 million for the quarter ended September 30 , 2021 , compared to a net benefit of $ 5.6 million for the linked quarter and a provision expense of $ 13.6 million for the quarter ended September 30 , 2020 . Cost of total deposits was 0.21 % for the quarter ended September 30 , 2021 , compared to 0.22 % for the linked quarter and 0.42 % for the quarter ended September 30 , 2020 . Nonperforming LHFI to total LHFI improved to 0.47 % at September 30 , 2021 , compared to 0.57 % at June 30 , 2021 and 0.54 % at September 30 , 2020 . The Company has reached an agreement with the Lincoln Agency , a full - service insurance agency providing personal and business insurance to communities located in and surrounding Ruston , Louisiana , to acquire the remaining 62 % ownership , bringing the Company's total ownership to 100 % . 1