Q4 2024 Origin Bancorp Inc Earnings Call Transcript
Key Points
- Origin Bancorp Inc (OBK) has implemented a strategic plan called 'Optimize Origin' aimed at achieving sustainable, elite-level financial performance.
- The company expects strategic actions to drive an ROA run rate of 1% or greater by the fourth quarter of 2025.
- Origin Bancorp Inc (OBK) has identified and is executing on $21 million in annual pretax, pre-provision earnings improvements.
- The company has successfully managed deposit costs and achieved core deposit growth, excluding brokered deposits.
- Origin Bancorp Inc (OBK) is investing in its workforce and systems to enhance productivity and efficiency, including a detailed banker profitability report.
- Deposits were down 3.1% during the quarter, although excluding brokered deposits, there was a slight growth.
- Loans, excluding mortgage warehouse, decreased by 3.2% linked quarter, driven by strategic focus on client selection and elevated paydowns.
- Classified loans increased to 1.57% of loans, up from 1.35% in the previous quarter, indicating some credit quality concerns.
- Non-performing loans increased to 0.99% from 0.81%, reflecting challenges in loan performance.
- The company reported a net expense of $14.7 million during the quarter, impacting earnings per share by $0.37.
Good morning, and welcome to the Origin Bancorp, Inc. fourth-quarter earnings conference call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference call over to Chris Reigelman, Director of Investor Relations. Please go ahead.
Good morning, and thank you for joining us today. We issued our earnings press release yesterday afternoon, a copy of which is available on our website, along with the slide presentation that we will refer to during this call.
Please refer to page 2 of our slide presentation, which includes our safe harbor statements regarding forward-looking statements and the use of non-GAAP financial measures. For those of you joining by phone, please note the slide presentation is available on our website at www.ir.origin.bank.
Please also note that our Safe Harbor statements are also available on page 5 of our earnings release filed with the SEC yesterday.
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