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Mar 31, 2023
Origin Q1 2023 Earnings Report
Reported earnings for the first quarter of 2023.
Key Takeaways
Origin Bancorp, Inc. reported a net income of $24.3 million, or $0.79 diluted earnings per share, for the quarter ended March 31, 2023. Total deposits were $8.17 billion at March 31, 2023, reflecting an increase of $398.6 million, or 5.1%, compared to December 31, 2022.
Total loans held for investment, excluding mortgage warehouse lines of credit, were $7.04 billion at March 31, 2023, reflecting an increase of $233.1 million, or 3.4%, compared to December 31, 2022.
Total deposits were $8.17 billion at March 31, 2023, reflecting an increase of $398.6 million, or 5.1%, compared to December 31, 2022.
Book value per common share was $32.25 at March 31, 2023, reflecting an increase of $1.35, or 4.4%, compared to the linked quarter, and an increase of $3.75, or 13.2%, compared to March 31, 2022.
Total nonperforming LHFI to total LHFI was 0.23% at March 31, 2023, compared to 0.14% at December 31, 2022, and 0.41% at March 31, 2022.
Origin
Origin
Forward Guidance
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin’s future financial performance, business and growth strategy, projected plans and objectives, and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including changes to interest rates by the Federal Reserve and the resulting impact on Origin’s results of operations, estimated forbearance amounts and expectations regarding the Company’s liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material.