Origin Bancorp, Inc.

What they do

Origin Bancorp conducts all material business through its wholly owned bank subsidiary, Origin Bank, founded in 1912 in Choudrant, Louisiana. It provides relationship banking to businesses, municipalities, and personal clients, and operates as one reportable segment. It also offers insurance agency products through its wholly owned subsidiary, Forth Insurance, LLC. Most revenue comes from interest on loans and investments and service charges and fees on deposit accounts.

Revenue drivers

• Net interest income — Interest earned on loans and investments less interest paid on deposits and borrowings; net interest income was $92.2 million in Q2 2026, up 12.3% year over year.
• Loans held for investment (LHFI) — Total LHFI were $8.07 billion at June 30, 2026, up 5.2% from December 31, 2025; excluding mortgage warehouse lines, LHFI were $7.48 billion.
• Deposits — Total deposits were $8.70 billion at June 30, 2026, up 4.8% from December 31, 2025; noninterest-bearing deposits were $2.26 billion, up 14.1%.
• Fees and service charges — Service charges and fees on deposit accounts are a stated revenue source, though no specific dollar figure was provided in the excerpts.

Recent performance

Net income was $33.8 million, or $1.09 diluted EPS, for the quarter ended June 30, 2026, up 22.2% from the linked quarter and up 131.1% from the prior-year quarter. Net interest income was $92.2 million, up 5.7% linked-quarter and 12.3% year over year. NIM-FTE rose 21 basis points to 3.92% linked-quarter and 31 basis points year over year, helped by a 58-basis point reduction in rates paid on interest-bearing liabilities. Annualized ROAA was 1.35% for Q2 2026, up 24 basis points from Q1 2026. Total LHFI grew 5.2% and total deposits grew 4.8% from December 31, 2025.

Strategy

The company's Optimize Origin initiative, announced in January 2025, targets elite financial performance through three pillars: productivity, delivery and efficiency; balance sheet optimization; and culture and employee engagement. Management set a near-term ROAA run rate target of 1.15% or higher by Q4 2026, with an ultimate top-quartile ROAA goal. During Q2 2026, Origin repurchased 217,034 shares at an average price of $46.60, and in July 2026 the board approved a $100 million increase in repurchase authority, leaving $121.6 million available. In April 2026, the board raised the quarterly dividend from $0.15 to $0.25 per share, a 67% increase.

Risks

• Listing-rule or delisting event — An 8-K filed 2026-09-15 reported a delisting notice or listing-rule failure and Regulation FD disclosure, a matter not detailed in the excerpts provided.
• Net interest margin compression — NIM-FTE depends on rates paid on liabilities and yields on assets; Q2 2026 expansion came from a 58-basis point reduction in liability rates offset by a 13-basis point decline in asset yields.
• Concentrated geographic footprint — Operations are concentrated in Texas, Louisiana, Mississippi, Alabama and the Florida Panhandle, exposing results to regional economic conditions.
• Mortgage warehouse line exposure — Total LHFI includes mortgage warehouse lines of credit of roughly $0.59 billion at June 30, 2026, a balance that can be volatile with mortgage demand.

Outlook

Management states its near-term ROAA run rate target is 1.15% or higher by Q4 2026, en route to an ultimate top-quartile ROAA target. CEO Drake Mills said objectives for the remainder of 2026 are to continue executing Optimize Origin, invest strategically across the footprint, attract talent, and appropriately deploy excess capital. No further specific guidance was provided in the excerpts.