NYSE$OBK
Origin Bancorp Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Net income decreased due to increases in provision expense driven by economic uncertainty surrounding the impact of COVID-19.
Origin Bancorp, Inc. reported a net income of $753,000 for Q1 2020, a decrease compared to the linked quarter and the quarter ended March 31, 2019. The decline was attributed to elevated provision expense due to economic uncertainty related to COVID-19.
- Net income for the quarter ended March 31, 2020, was $753,000, compared to $12.8 million for the linked quarter and $14.2 million for the quarter ended March 31, 2019.
- Diluted earnings per share for the quarter ended March 31, 2020, were $0.03, compared to $0.55 for the linked quarter and $0.60 for the quarter end March 31, 2019.
- Net interest income was $42.8 million for the quarter ended March 31, 2020, compared to $44.1 million for the linked quarter and $42.0 million for the quarter ended March 31, 2019.
- Provision expense was $18.5 million for the quarter ended March 31, 2020, compared to provision expense of $2.4 million for the linked quarter and $1.0 million for the quarter ended March 31, 2019.
Headline financials
Revenue & EPS history
Origin · Revenue · Quarterly
$55M
Revenue by segment
Origin · $56.7M total across 4 segments · Q4 2019
- Commercial real estate$52.3M—92.3%
- Investment securities-taxable$2.64M—4.7%
- Assets held in other financial institutions$976K—1.7%
- Investment securities-nontaxable$772K—1.4%
Forward guidance
Origin is closely monitoring and reevaluating the ongoing economic effects of COVID-19 on the Company and its customers.
Tailwinds
- Established a SBA Paycheck Protection Program task force and approved over $480 million in loans under this program as a result of the Coronavirus Aid, Relief and Economic Security (CARES) Act.
- The implementation of Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("CECL").
- Offering forbearance (90 day extensions) and modification agreements to the Company's customers due to COVID-19.
- Tracking pandemic impacted relationships and general economic conditions in our markets.
- Increasing short term liquidity due to economic uncertainty, primarily through Federal Home Loan Bank ("FHLB") advances.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.5%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+1.6%
Avg return
30 days after
57%
21 / 37 earnings
Positive
+6.0%
Q3 2023
Best reaction
-6.8%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.0% | -1.9% | +1.2% | |
| Q4 2025 | +4.5% | +8.7% | +2.1% | |
| Q3 2025 | -4.0% | +1.3% | +3.4% | |
| Q1 2025 | +0.3% | +0.6% | +5.4% | |
| Q4 2024 | +3.8% | +9.7% | +7.4% | |
| Q3 2024 | -2.1% | -0.4% | +9.4% | |
| Q2 2024 | -6.8% | -7.1% | -10.5% | |
| Q1 2024 | +4.3% | +1.5% | +5.3% | |
| Q4 2023 | -4.4% | -3.3% | -10.9% | |
| Q3 2023 | +6.0% | +9.2% | +21.4% | |
| Q2 2023 | -0.0% | +0.0% | -8.1% | |
| Q1 2023 | -3.8% | -6.1% | -2.8% | |
| Q4 2022 | +1.0% | -4.5% | -0.8% | |
| Q3 2022 | -0.8% | +2.4% | +4.4% | |
| Q2 2022 | +2.8% | +3.4% | +0.6% | |
| Q1 2022 | -0.8% | -4.3% | -1.9% | |
| Q4 2021 | -2.4% | -0.4% | +5.9% | |
| Q3 2021 | -0.9% | +2.1% | -1.9% | |
| Q2 2021 | +1.5% | -1.4% | +0.6% | |
| Q1 2021 | +3.7% | +6.2% | +7.1% | |
| Q4 2020 | +2.1% | +7.7% | +17.1% | |
| Q3 2020 | -1.6% | -0.7% | +16.5% | |
| Q2 2020 | +4.7% | +9.2% | +9.2% | |
| Q1 2020 | +4.2% | +10.8% | -4.5% | |
| Q4 2019 | -1.4% | -1.7% | -1.4% | |
| Q3 2019 | +3.2% | +6.0% | +5.6% | |
| Q2 2019 | -2.0% | -0.9% | -6.7% | |
| Q1 2019 | +0.6% | +1.5% | -3.9% | |
| Q4 2016 | -0.9% | -0.4% | -5.3% | |
| Q4 2018 | -1.4% | -1.8% | +1.2% | |
| Q3 2017 | -3.2% | -5.0% | -8.6% | |
| Q3 2018 | +1.3% | +6.1% | +9.5% | |
| Q2 2017 | +0.5% | +0.5% | +3.3% | |
| Q2 2018 | +3.4% | +2.7% | +3.5% | |
| Q1 2018 | +0.5% | +1.5% | -4.0% | |
| Q4 2017 | +0.5% | +1.5% | -4.0% | |
| Q1 2017 | +0.5% | +1.5% | -4.0% |
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