Origin Bancorp Stock

Origin Bancorp, Inc. (Origin) operates as a financial holding company.

The company's wholly owned bank subsidiary, Origin Bank. The company provides personalized, relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities the company serves. The company provides a broad range of financial services and has over 60 locations from Dallas/Fort Worth, East Texas and Houston, across North Louisiana and into Mississippi.

To promote the company's organic growth, the company strategically locates banking centers within its markets and employ highly experienced relationship bankers who proactively develop valuable relationships within the communities that the company serves. Through these relationships, the company's bankers are able to meet its customers' needs and capitalize on loan demand across a wide range of industries.

Banking Services

The company is focused on delivering a broad range of relationship-driven financial services tailored to meet the needs of small and medium-sized businesses, municipalities, and retail clients. The company principally operates in one business segment, community banking. The company is primarily engaged in attracting deposits from individuals and businesses and using these deposits and borrowed funds to originate commercial, residential mortgage, construction and consumer loans.

The company has primarily grown its assets, deposits, and business organically by building relationships through the company's lending products, expanding the company's deposit products and delivery capabilities, opening new branches, and hiring experienced bankers with existing customer relationships in the company's market areas.

Lending Activities

The company originates loans secured by single and multi-family real estate, residential construction and commercial buildings. In addition, the company makes loans to small and mid-sized businesses, as well as to consumers for a variety of purposes.

Commercial Real Estate Loans and Construction/Land/Land Development Loans. The company primarily originates commercial real estate loans and construction/land/land development loans that are generally secured by real estate located in the company's market areas. The company's commercial mortgage loans are generally collateralized by first liens on real estate and amortized over 20 to 30 years, with balloon payments typically due at the end of five years.

Consumer Loans and Residential Real Estate Loans. The company's consumer loan portfolio is primarily composed of secured and unsecured loans that the company originates. The largest component of the company's consumer loan portfolio is for residential real estate purposes. The company originates one-to-four family, owner-occupied residential mortgage loans generally secured by property located in the company's primary market areas. The majority of the company's residential mortgage loans consist of loans secured by owner-occupied, single-family residences. Consumer loans also include closed-end second mortgages, home equity lines of credit and the company's mortgage loans held for sale.

Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years.

Mortgage Warehouse Loans. Mortgage warehouse loans are extended to mortgage companies and secured by loan participations in mortgages that are typically sold within 15 to 25 days. The loans are underwritten by the approved mortgage company using agency or investor guidelines. The loans are then committed to a secondary market investor and are primarily made up of agency-eligible conventional loans (Fannie Mae, Freddie Mac), government loans (Federal Housing Administration ('FHA') loans, Veterans Administration loans, the U.S. Department of Agriculture Rural Housing Development loans) and qualified jumbo loans.

Deposits and Other Sources of Funds

An important aspect of the company's business franchise is the ability to gather deposits. The company offers a wide range of deposit services, including checking, savings, money market accounts and time deposits. The company obtains most of its deposits from individuals, small businesses and municipalities in the company's market areas.

Mortgage Banking

The company is also engaged in the residential mortgage banking business, which primarily generates income from the sale of mortgage loans, as well as the servicing of residential mortgage loans for others. The company originates residential mortgage loans in its markets as a service to the company's existing customers and as a way to develop relationships with new customers in order to support the company's core banking strategy.

Insurance

The company offers a wide variety of commercial and personal property and casualty insurance products through the company's wholly-owned insurance subsidiary, Forth Insurance, formerly known as Davison Insurance Agency, LLC and doing business as Lincoln Agency, LLC, Lincoln Agency Transportation Insurance, Pulley-White Insurance Agency, Reeves, Coon & Funderburg, Simoneaux & Wallace Agency and Thomas & Farr Agency.

Other Banking Services

Given customer demand for increased convenience and account access, the company offers a wide range of products and services, including 24-hour internet banking and voice response information, mobile applications, cash management, overdraft protection, direct deposit, safe deposit boxes, the U.S. savings bonds, automatic account transfers, peer-to-peer electronic pay solutions and personal financial management solutions.

Information Technology Systems

The company continues to make significant investments in the company's information technology systems for the company's banking operations and treasury services to enhance the company's capabilities to offer new products and overall customer experience, to provide scale for future growth and acquisitions, and to increase controls and efficiencies in the company's back-office operations. The company's core data processing platform is from a nationally-recognized bank processing vendor and the company leverages the capabilities of a third-party service provider in developing the company's network design and architecture. The company also actively manages its business continuity plan. The majority of the company's other systems, including electronic funds transfer and transaction processing, are operated in-house. Online banking services and other public-facing web services are performed using third-party service providers.

Securities

As of December 31, 2023, the company's securities portfolio included state and municipal securities; corporate bonds; U.S. government and agency securities; commercial mortgage-backed securities; residential mortgage-backed securities; commercial collateralized mortgage obligations; residential collateralized mortgage obligations; and asset-backed securities.

Supervision, Regulation and Other Factors

The company is registered as a bank holding company with the Board of Governors of the Federal Reserve System (the 'Federal Reserve') under the Bank Holding Company Act, as amended (the 'BHC Act') and have elected to be treated as a financial holding company. As such, the company is subject to comprehensive supervision and regulation by the Federal Reserve and are subject to its regulatory reporting requirements.

In addition, the Louisiana Office of Financial Institutions (the 'OFI') regulates bank holding companies that own Louisiana-chartered banks, such as the company, under the bank holding company laws of the state of Louisiana.

Origin Bank is an FDIC-insured depository institution and thus subject to these requirements. Under the Change in Bank Control Act and the regulations thereunder, a person or group must give advance notice to the Federal Reserve before acquiring control of any bank holding company, such as the company, or before acquiring control of any FDIC-insured bank, such as Origin Bank.

The company is required to comply with various corporate governance and financial reporting requirements under the Sarbanes-Oxley Act of 2002, as well as rules and regulations adopted by the SEC and the New York Stock Exchange. Additionally, the company's independent registered public accounting firm, FORVIS, LLP, is required to comply with rules established by the Public Company Accounting Oversight Board ('PCAOB') as they related to the completion of the audit of the company's consolidated financial statements. In particular, the company is required to include management and independent registered public accounting firm reports on internal controls in order to comply with Section 404 of the Sarbanes-Oxley Act.

The company and its subsidiaries are subject to oversight by the SEC, the New York Stock Exchange, and various state securities and insurance regulators.

Origin Bank, which is a member of the Federal Reserve System, is subject to comprehensive supervision and regulation by the Federal Reserve, and is subject to its regulatory reporting requirements, as well as supervision and regulation by the OFI.

The deposits of Origin Bank are insured by the FDIC up to applicable limits, and, accordingly, Origin Bank is also subject to certain FDIC regulations and the FDIC has backup examination authority and some enforcement powers over Origin Bank. In addition, as discussed in more detail below, Origin Bank and any other of the company's subsidiaries that offer consumer financial products and services are subject to regulation by the CFPB.

Origin Bank's deposits are insured by the FDIC's DIF up to the limits under applicable law, which are set at $250,000 per depositor, per insured bank, for each account ownership category. Origin Bank is subject to FDIC assessments for its deposit insurance.

A continued focus of governmental policy relating to financial institutions in recent years has been combating money laundering and terrorist financing. The USA PATRIOT Act broadened the application of anti-money laundering regulations to apply to additional types of financial institutions such as broker-dealers, investment advisors and insurance companies, and strengthened the ability of the U.S. Government to help prevent, detect and prosecute international money laundering and the financing of terrorism. The principal provisions of Title III of the USA PATRIOT Act require that regulated financial institutions, including state member banks: (i) establish an anti-money laundering program that includes training and audit components; (ii) comply with regulations regarding the verification of the identity of any person seeking to open an account; (iii) take additional required precautions with non-U.S. owned accounts; and (iv) perform certain verification and certification of money laundering risk for their foreign correspondent banking relationships. Failure of a financial institution to comply with the USA PATRIOT Act's requirements could have serious legal and reputational consequences for the institution. Origin Bank has augmented its systems and procedures to meet the requirements of these regulations.

Origin Bank is subject to the provisions of the CRA, which imposes a continuing and affirmative obligation, consistent with safe and sound operation, to help meet the credit needs of entire communities where the bank accepts deposits, including low- and moderate-income neighborhoods.

Origin Bank is also subject to, among other things, the provisions of the Equal Credit Opportunity Act and the Fair Housing Act, both of which prohibit discrimination based on race or color, religion, national origin, sex, and familial status in any aspect of a consumer or commercial credit or residential real estate transaction.

Origin Bank is a member of the Federal Home Loan Bank of Dallas.

History

Origin Bancorp, Inc. was founded in 1912. The company was incorporated in 1991 under the laws of the state of Louisiana.