NYSE$OBK

Origin Bancorp Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported strong first quarter with significant loan and deposit growth.

Origin Bancorp, Inc. announced a net income of $20.7 million, or $0.87 diluted earnings per share, for the quarter ended March 31, 2022. The company experienced significant loan and deposit growth, driven by building meaningful, long-term relationships.

  • Total loans held for investment, excluding PPP loans and mortgage warehouse lines of credit, increased by $160.5 million, or 14.5% annualized.
  • Total deposits grew by $196.5 million, or 12.1% annualized, reaching $6.77 billion.
  • Noninterest-bearing deposits grew by $132.2 million, or 24.8% annualized, representing 33.9% of total deposits.
  • Total nonperforming LHFI to total LHFI was 0.41%, reflecting the lowest ratio as a public company.

Headline financials

Total Revenue

$68.4M

Previous: $72.4M-5.5%
EPS (adj)

$0.87

Previous: $1.08-19.4%
Efficiency Ratio (GAAP)

62.5%

Previous: 54.5%+14.8%
Capital Expenditures

-$1.24M

Previous: -$813K-52.9%
Free Cash Flow

$19.4M

Previous: $24.7M-21.3%
Net Income

$20.7M

Previous: $25.5M-18.9%
Operating Income

$56.7M

Previous: $59.9M-5.3%
Gross Profit

$68.1M

Previous: $71M-4.1%
Cash & Equivalents

$584M

Previous: $265M+120.6%
Total Assets

$8.11B

Previous: $7.56B+7.3%
Stock-Based Comp

$737K

Previous: $614K+20.0%

Revenue & EPS history

Origin · Revenue · Quarterly

$68.4M

Q1 2022-5.5%vs Q1 2021
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Origin · $56.7M total across 4 segments · Q4 2019

  • Commercial real estate
    $52.3M
  • Investment securities-taxable
    $2.64M
  • Assets held in other financial institutions
    $976K
  • Investment securities-nontaxable
    $772K

Forward guidance

The merger with BT Holdings, Inc. is expected to close during the second half of 2022, pending shareholder and regulatory approvals.

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 2022

Historical avgQ1 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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