NYSE$OBK
Origin Bancorp Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported earnings for the fourth quarter and full year 2023.
Origin Bancorp, Inc. reported a net income of $13.4 million, or $0.43 diluted earnings per share, for the quarter ended December 31, 2023. Adjusted diluted earnings per common share was $0.60 for the quarter ended December 31, 2023.
- Total loans held for investment increased by $92.9 million, or 1.2%, compared to September 30, 2023.
- Total deposits were $8.25 billion at December 31, 2023, reflecting a decrease of $123.4 million, or 1.5%, compared to September 30, 2023.
- Provision for credit losses was $2.7 million for the quarter ended December 31, 2023, compared to $3.5 million for the linked quarter.
- Book value per common share was $34.30 at December 31, 2023, reflecting an increase of $1.98, or 6.1%, compared to the linked quarter.
Headline financials
Revenue & EPS history
Origin · Revenue · Quarterly
$81.2M
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 intends to use the proceeds from the sale of investment securities to support loan growth in its markets, including its new Southeast market. The company estimates an annualized positive forward impact to NIM-FTE of three to five basis points, an estimated annualized forward diluted EPS benefit of approximately $0.06 to $0.11, and an estimated earn-back period of 1.9 to 1.1 years.
Tailwinds
- Sale of investment securities positively impacted NIM-FTE by one basis point for the quarter ended December 31, 2023.
- Estimated annualized positive forward impact to NIM-FTE of three to five basis points.
- Estimated annualized forward diluted EPS benefit of approximately $0.06 to $0.11.
- Estimated earn-back period of 1.9 to 1.1 years.
- Proceeds from sale will support loan growth, especially in new Southeast market.
Headwinds
- Loss on sale of securities resulted in a $0.12 negative impact to diluted EPS for the quarter ended December 31, 2023.
- Noninterest-bearing deposits continued to be impacted by the higher interest rate environment
- Total deposits decreased 1.5% from the linked quarter
- The decrease in other noninterest income for the quarter ended December 31, 2023, compared to the linked quarter was primarily due to a $10.1 million positive valuation adjustment recorded on one of our non-marketable equity securities during the linked quarter, with no such valuation adjustment recorded during the current quarter.
- The decline in mortgage banking revenue was primarily due to a $1.8 million impairment recorded during the quarter ended December 31, 2023, in conjunction with the planned sale of our mortgage servicing rights asset.
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 Q4 2023
+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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro