Origin Bancorp, Inc. reported its financial results for the first quarter of 2025, revealing a net income of $22.4 million, a slight decrease of 1.0% from $22.6 million in the same period last year. The diluted earnings per share were $0.71, down from $0.73 in the prior year. The company's net interest income increased by 7.0% to $78.5 million, primarily due to a significant reduction in interest expenses, which fell by $11.3 million. This was offset by a decrease in interest income from loans, which dropped by $10.1 million, attributed to lower average loan balances and yields.
Total assets rose to $9.75 billion, an increase of $71.7 million, or 0.7%, compared to the end of 2024. This growth was driven by a $58.8 million increase in available-for-sale securities, as deposit growth outpaced loan growth. Total deposits reached $8.34 billion, reflecting a $115.3 million increase, with notable growth in money market deposits. However, subordinated debentures decreased significantly by 44.0% to $89.6 million, following the redemption of $70.0 million in subordinated notes as part of the company's strategic optimization initiative.
Operationally, Origin Bancorp's loan portfolio held for investment (LHFI) increased slightly to $7.59 billion, up $11.8 million from the previous quarter. The composition of the loan portfolio showed a shift, with commercial real estate loans decreasing by 3.8% while residential real estate loans increased by 5.2%. The company also reported a rise in nonperforming loans, which increased by $6.4 million, primarily due to two loan relationships totaling $8.2 million, indicating potential credit quality concerns.
Looking ahead, Origin Bancorp aims to achieve a return on average assets (ROAA) of over 1% by the fourth quarter of 2025, supported by initiatives focused on productivity, balance sheet optimization, and employee engagement. The company is actively managing its liquidity and capital resources, maintaining compliance with regulatory capital requirements, and is classified as "well capitalized." The management remains cautious about potential economic uncertainties and their impact on credit quality and overall financial performance.
About Origin Bancorp, Inc.
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