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What does Origin Bancorp do and what are its main business segments?

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Did Origin Bancorp beat or miss consensus estimates last quarter?

- **Tricolor Fraud Charge-Off**: Aggressively pursuing recovery of $28.4 million with uncertain timing.
- **Financial Momentum**: Q3 ROA 1.15%, NIM 3.65% with 2026 repricing tailwind.
- **Growth Priorities**: Texas/Southeast M&A disruption driving 2026 loan growth.
- **Capital Deployment**: Organic growth #1 priority over buybacks/M&A.
- **Fee Income**: Q4 10-15% YoY growth from swaps and Argent.

**【Management Opening Remarks】**
- Origin charged off $28.4 million related to Tricolor fraud, with $1.5 million in unfunded letters of credit also reserved.
- Tricolor fraud case highlights need for enhanced credit monitoring and collateral verification.
- 2025 Q3 NPA ratio at 1.18% (vs. 1.14% prior quarter), with 0.16% net charge-offs excluding Tricolor.
- 2025 Q3 ROA of 1.15% (pre-provision), up 48 bps YoY, driven by fee income growth and expense control.

**【CEO Strategic Response】**
- Aggressively pursuing recovery through bankruptcy process, though timing and extent uncertain.
- $31.4 million in total net charge-offs (including $3 million outside Tricolor).
- 2025 Q3 NIM of 3.65%, up 4 bps from prior quarter due to securities portfolio gains.
- 2025 Q4 NIM guidance of 3.65% ±3 bps, assuming 25 bps Fed rate cuts in Oct/Dec.

**【CFO Financial Performance】**
- 2025 Q3 EPS of $0.27, with $23.3 million in notable items impacting net income.
- Noninterest-bearing deposits up 8.6% QoQ to $1.1 billion, supporting liquidity.
- 2025 Q4 loan growth guidance of flat to low single digits due to elevated paydowns.
- 2025 year-end tangible book value growth of 10.9%.

**【Q&A Highlights】**
- NBFI exposure limited to 1.2% of loans, with no problem child loans.
- 2026 loan growth potential from M&A-driven disruption in Texas/Southeast.
- Capital deployment prioritizing organic growth over buybacks/M&A.
- 2025 Q4 fee income up 10-15% YoY, driven by swap activity and Argent integration.
- 2026 NIM tailwind from $300 million in repricing loans yielding 6.9-7.0%.


Origin Bancorp, Inc. (OBK) Q3 2025 Earnings Call Transcript

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