Origin Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 01:45 am IST
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Origin Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 74.13 million compared to USD 78.52 million a year ago. Net income was USD 24.31 million compared to USD 16.24 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to USD 0.57 a year ago.
For the nine months, net interest income was USD 226.57 million compared to USD 190.53 million a year ago. Net income was USD 70.38 million compared to USD 58.24 million a year ago. Basic earnings per share from continuing operations was USD 2.29 compared to USD 2.31 a year ago. Diluted earnings per share from continuing operations was USD 2.28 compared to USD 2.3 a year ago.
Origin Bancorp, Inc. is a financial holding company. The Company provides a range of financial services and operates more than 60 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana and Mississippi. The Company is focused on delivering a range of relationship-driven financial services tailored to meet the needs of small and medium-sized businesses, municipalities and retail clients. It operates through one segment, which is community banking. The Company is primarily engaged in attracting deposits from individuals and businesses and using these deposits and borrowed funds to originate commercial, residential mortgage, construction and consumer loans. It originates loans secured by single and multi-family real estate, residential construction and commercial buildings. The Company's consumer loan portfolio is composed of secured and unsecured loans that it originates. Its commercial and industrial loans include working capital, inventory, equipment and capital expansion.