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Mar 31, 2024
Origin Q1 2024 Earnings Report
Reported net income and increase in loans and deposits.
Key Takeaways
Origin Bancorp, Inc. reported a strong first quarter in 2024, with net income increasing to $22.6 million, or $0.73 diluted earnings per share. Total loans and deposits also increased, reflecting the company's focus on building long-term client relationships.
Net income increased by 68.6% compared to the linked quarter, reaching $22.6 million.
Total loans held for investment grew by 3.1% to $7.90 billion.
Total deposits increased by 3.1% to $8.51 billion.
Noninterest income increased significantly by 110.5% to $17.3 million.
Origin
Origin
Origin Revenue by Segment
Revenue by Segment
Commercial Real Estate Revenue
CapyFin.comConstruction/Land/Land Development Revenue
CapyFin.comResidential Real Estate Revenue
CapyFin.comCommercial and Industrial Revenue
CapyFin.comMW LOC Revenue
CapyFin.comConsumer Revenue
CapyFin.comInvestment Securities - Taxable Revenue
CapyFin.comInvestment Securities - Nontaxable Revenue
CapyFin.comAssets Held in Other Financial Institutions Revenue
CapyFin.comLoans Held for Sale Revenue
CapyFin.comNon-Marketable Equity Securities Held in Other Financial Institutions Revenue
CapyFin.comInterest-Earning Balances Due from Banks Revenue
CapyFin.com Forward Guidance
Origin's strategic focus remains on offering attractive returns to depositors while monitoring economic indicators and Federal Funds rate projections.
Positive Outlook
- Continued effective management of interest income and expense.
- Strategic focus on offering attractive returns to depositors.
- Close monitoring of economic indicators.
- Closely monitoring Federal Funds rate projections for informed decision-making.
- Stabilizing rate conditions.
Challenges Ahead
- Challenges with margin compression since the quarter ended September 30, 2022.
- Potential impacts of adverse developments in the banking industry including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto.
- The impact of current and future economic conditions generally and in the financial services industry.
- Deterioration of Origin’s asset quality.
- Difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which Origin operates and in which its loans are concentrated