10-Q 1 obnk-20220331.htm 10-Q obnk-20220331
false12/312022Q10001516912P1YP1Y00015169122022-01-012022-03-3100015169122022-04-29xbrli:shares00015169122022-03-31iso4217:USD00015169122021-12-31iso4217:USDxbrli:shares00015169122021-01-012021-03-310001516912obnk:ProductsAndServicesDepositServiceFeesMember2022-01-012022-03-310001516912obnk:ProductsAndServicesDepositServiceFeesMember2021-01-012021-03-310001516912obnk:ProductsAndServicesInsuranceCommissionAndFeesMember2022-01-012022-03-310001516912obnk:ProductsAndServicesInsuranceCommissionAndFeesMember2021-01-012021-03-310001516912us-gaap:CommonStockMember2020-12-310001516912us-gaap:AdditionalPaidInCapitalMember2020-12-310001516912us-gaap:RetainedEarningsMember2020-12-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100015169122020-12-310001516912us-gaap:RetainedEarningsMember2021-01-012021-03-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001516912us-gaap:CommonStockMember2021-01-012021-03-310001516912us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001516912us-gaap:CommonStockMember2021-03-310001516912us-gaap:AdditionalPaidInCapitalMember2021-03-310001516912us-gaap:RetainedEarningsMember2021-03-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100015169122021-03-310001516912us-gaap:CommonStockMember2021-12-310001516912us-gaap:AdditionalPaidInCapitalMember2021-12-310001516912us-gaap:RetainedEarningsMember2021-12-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001516912us-gaap:RetainedEarningsMember2022-01-012022-03-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001516912us-gaap:CommonStockMember2022-01-012022-03-310001516912us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001516912us-gaap:CommonStockMember2022-03-310001516912us-gaap:AdditionalPaidInCapitalMember2022-03-310001516912us-gaap:RetainedEarningsMember2022-03-310001516912us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-31obnk:banking_centerobnk:segment0001516912us-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310001516912us-gaap:CorporateDebtSecuritiesMember2022-03-310001516912us-gaap:USTreasuryAndGovernmentMember2022-03-310001516912us-gaap:CommercialMortgageBackedSecuritiesMember2022-03-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMember2022-03-310001516912obnk:CommercialCollateralizedMortgageObligationsMember2022-03-310001516912us-gaap:CollateralizedMortgageObligationsMember2022-03-310001516912us-gaap:AssetBackedSecuritiesMember2022-03-310001516912us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001516912us-gaap:CorporateDebtSecuritiesMember2021-12-310001516912us-gaap:USTreasuryAndGovernmentMember2021-12-310001516912us-gaap:CommercialMortgageBackedSecuritiesMember2021-12-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310001516912obnk:CommercialCollateralizedMortgageObligationsMember2021-12-310001516912us-gaap:CollateralizedMortgageObligationsMember2021-12-310001516912us-gaap:AssetBackedSecuritiesMember2021-12-310001516912us-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetPastDueMember2021-12-310001516912obnk:CollateralPledgedforDepositsMember2022-03-310001516912obnk:CollateralPledgedforDepositsMember2021-12-310001516912obnk:CollateralPledgedtoRepurchaseAgreementsMember2022-03-310001516912obnk:CollateralPledgedtoRepurchaseAgreementsMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMember2021-12-310001516912us-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:CommercialPortfolioSegmentMember2021-12-310001516912obnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMember2021-12-310001516912obnk:PaycheckProtectionProgramMember2022-03-310001516912obnk:PaycheckProtectionProgramMember2021-12-310001516912obnk:PaycheckProtectionProgramMember2020-01-012021-12-310001516912obnk:PaycheckProtectionProgramMember2022-01-012022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:PassMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2022-01-012022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:PassMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMemberus-gaap:SpecialMentionMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-01-012022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2022-01-012022-03-310001516912us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912obnk:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:PassMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:MortgageWarehousePortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ClassifiedMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:PassMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2021-01-012021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:PassMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMemberus-gaap:SpecialMentionMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-01-012021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ClassifiedMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-01-012021-12-310001516912us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912obnk:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:CommercialPortfolioSegmentMember2021-01-012021-12-310001516912us-gaap:PassMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912obnk:MortgageWarehousePortfolioSegmentMember2021-01-012021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ClassifiedMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-03-310001516912us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:MortgageWarehousePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMember2022-03-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMember2022-03-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310001516912us-gaap:FinancialAssetNotPastDueMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001516912us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912obnk:MortgageWarehousePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310001516912us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001516912us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310001516912us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310001516912us-gaap:FinancialAssetNotPastDueMember2021-12-31xbrli:pure0001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2020-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2021-01-012021-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMember2021-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2020-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-01-012021-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2020-12-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-01-012021-03-310001516912obnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-03-310001516912us-gaap:CommercialPortfolioSegmentMember2020-12-310001516912us-gaap:CommercialPortfolioSegmentMember2021-01-012021-03-310001516912us-gaap:CommercialPortfolioSegmentMember2021-03-310001516912obnk:MortgageWarehousePortfolioSegmentMember2020-12-310001516912obnk:MortgageWarehousePortfolioSegmentMember2021-01-012021-03-310001516912obnk:MortgageWarehousePortfolioSegmentMember2021-03-310001516912us-gaap:ConsumerPortfolioSegmentMember2020-12-310001516912us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-310001516912us-gaap:ConsumerPortfolioSegmentMember2021-03-310001516912us-gaap:CommercialRealEstateMemberobnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMemberobnk:ConstructionLandandLandDevelopmentLoansMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMemberus-gaap:ResidentialRealEstateMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyFairValueOfCollateralMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyDiscountedCashFlowMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyFairValueOfCollateralMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyDiscountedCashFlowMemberobnk:MortgageWarehousePortfolioSegmentMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMember2022-03-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMember2022-03-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMember2022-03-310001516912obnk:ValuationMethodologyFairValueOfCollateralMember2022-03-310001516912obnk:ValuationMethodologyDiscountedCashFlowMember2022-03-310001516912us-gaap:CommercialRealEstateMemberobnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMember2021-12-310001516912us-gaap:CommercialRealEstateMemberobnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMemberobnk:ConstructionLandandLandDevelopmentLoansMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:RealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMemberus-gaap:ResidentialRealEstateMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyFairValueOfCollateralMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyDiscountedCashFlowMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyFairValueOfCollateralMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyDiscountedCashFlowMemberobnk:MortgageWarehousePortfolioSegmentMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ValuationMethodologyFairValueOfCollateralMember2021-12-310001516912us-gaap:ConsumerPortfolioSegmentMemberobnk:ValuationMethodologyDiscountedCashFlowMember2021-12-310001516912obnk:ValuationMethodologyProbabilityOfDefaultMember2021-12-310001516912obnk:ValuationMethodologyFairValueOfCollateralMember2021-12-310001516912obnk:ValuationMethodologyDiscountedCashFlowMember2021-12-310001516912us-gaap:NonperformingFinancingReceivableMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMember2021-01-012021-03-310001516912us-gaap:NonperformingFinancingReceivableMember2022-03-310001516912us-gaap:NonperformingFinancingReceivableMember2021-12-310001516912us-gaap:PerformingFinancingReceivableMember2022-03-310001516912us-gaap:PerformingFinancingReceivableMember2021-12-310001516912us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-31obnk:loan0001516912us-gaap:NonperformingFinancingReceivableMemberobnk:TermConcessionMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMemberobnk:CombinationMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMemberobnk:TermConcessionMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMember2022-01-012022-03-310001516912us-gaap:NonperformingFinancingReceivableMemberobnk:CombinationMember2022-01-012022-03-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-03-310001516912us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-03-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912obnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberobnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberobnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912obnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueMeasurementsRecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-12-310001516912us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-12-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912obnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberobnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel3Memberobnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912obnk:CommercialCollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912us-gaap:FairValueMeasurementsRecurringMember2021-12-310001516912obnk:MortgageServicingRightsMember2021-12-310001516912us-gaap:AvailableforsaleSecuritiesMember2021-12-310001516912obnk:DebtSecuritiesFVNIMember2021-12-310001516912obnk:MortgageBankingRevenueMemberobnk:MortgageServicingRightsMember2022-01-012022-03-310001516912us-gaap:AvailableforsaleSecuritiesMemberobnk:MortgageBankingRevenueMember2022-01-012022-03-310001516912obnk:DebtSecuritiesFVNIMemberobnk:MortgageBankingRevenueMember2022-01-012022-03-310001516912obnk:OtherNoninterestIncomeMemberobnk:MortgageServicingRightsMember2022-01-012022-03-310001516912us-gaap:AvailableforsaleSecuritiesMemberobnk:OtherNoninterestIncomeMember2022-01-012022-03-310001516912obnk:DebtSecuritiesFVNIMemberobnk:OtherNoninterestIncomeMember2022-01-012022-03-310001516912obnk:MortgageServicingRightsMember2022-01-012022-03-310001516912us-gaap:AvailableforsaleSecuritiesMember2022-01-012022-03-310001516912obnk:DebtSecuritiesFVNIMember2022-01-012022-03-310001516912obnk:MortgageServicingRightsMember2022-03-310001516912us-gaap:AvailableforsaleSecuritiesMember2022-03-310001516912obnk:DebtSecuritiesFVNIMember2022-03-310001516912obnk:LoansatFairValueMember2020-12-310001516912obnk:MortgageServicingRightsMember2020-12-310001516912us-gaap:AvailableforsaleSecuritiesMember2020-12-310001516912obnk:DebtSecuritiesFVNIMember2020-12-310001516912obnk:LoansatFairValueMemberobnk:MortgageBankingRevenueMember2021-01-012021-03-310001516912obnk:MortgageBankingRevenueMemberobnk:MortgageServicingRightsMember2021-01-012021-03-310001516912us-gaap:AvailableforsaleSecuritiesMemberobnk:MortgageBankingRevenueMember2021-01-012021-03-310001516912obnk:DebtSecuritiesFVNIMemberobnk:MortgageBankingRevenueMember2021-01-012021-03-310001516912obnk:LoansatFairValueMemberobnk:OtherNoninterestIncomeMember2021-01-012021-03-310001516912obnk:OtherNoninterestIncomeMemberobnk:MortgageServicingRightsMember2021-01-012021-03-310001516912us-gaap:AvailableforsaleSecuritiesMemberobnk:OtherNoninterestIncomeMember2021-01-012021-03-310001516912obnk:DebtSecuritiesFVNIMemberobnk:OtherNoninterestIncomeMember2021-01-012021-03-310001516912obnk:LoansatFairValueMember2021-01-012021-03-310001516912obnk:MortgageServicingRightsMember2021-01-012021-03-310001516912us-gaap:AvailableforsaleSecuritiesMember2021-01-012021-03-310001516912obnk:DebtSecuritiesFVNIMember2021-01-012021-03-310001516912obnk:LoansatFairValueMember2021-03-310001516912obnk:MortgageServicingRightsMember2021-03-310001516912us-gaap:AvailableforsaleSecuritiesMember2021-03-310001516912obnk:DebtSecuritiesFVNIMember2021-03-310001516912srt:MinimumMember2022-01-012022-03-310001516912srt:MaximumMember2022-01-012022-03-310001516912srt:WeightedAverageMember2022-01-012022-03-310001516912srt:MinimumMember2021-01-012021-12-310001516912srt:MaximumMember2021-01-012021-12-310001516912srt:WeightedAverageMember2021-01-012021-12-310001516912obnk:LoansHeldforSaleMember2022-03-310001516912obnk:DebtSecuritiesFVNIMember2022-03-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-03-310001516912obnk:LoansHeldforSaleMember2021-12-310001516912obnk:DebtSecuritiesFVNIMember2021-12-310001516912us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310001516912obnk:MortgageBankingRevenueMember2022-01-012022-03-310001516912obnk:MortgageBankingRevenueMember2021-01-012021-03-310001516912us-gaap:OtherIncomeMemberobnk:LoansatFairValueMember2022-01-012022-03-310001516912us-gaap:OtherIncomeMemberobnk:LoansatFairValueMember2021-01-012021-03-310001516912obnk:DebtSecuritiesFVNIMemberus-gaap:OtherIncomeMember2022-01-012022-03-310001516912obnk:DebtSecuritiesFVNIMemberus-gaap:OtherIncomeMember2021-01-012021-03-310001516912us-gaap:OtherIncomeMember2022-01-012022-03-310001516912us-gaap:OtherIncomeMember2021-01-012021-03-310001516912obnk:NoninterestIncomeMember2022-01-012022-03-310001516912obnk:NoninterestIncomeMember2021-01-012021-03-310001516912us-gaap:MeasurementInputCreditSpreadMembersrt:MinimumMember2021-01-012021-12-310001516912us-gaap:MeasurementInputCreditSpreadMembersrt:MinimumMember2022-01-012022-03-310001516912us-gaap:MeasurementInputCreditSpreadMembersrt:MaximumMember2022-01-012022-03-310001516912us-gaap:MeasurementInputCreditSpreadMembersrt:MaximumMember2021-01-012021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001516912obnk:RealEstatePortfolioSegmentMemberobnk:ResidentialRealEstateLoanMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-03-310001516912us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2022-03-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2022-03-310001516912us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2021-12-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2021-12-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2022-03-310001516912us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-12-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2022-03-310001516912us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001516912us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-12-310001516912us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberobnk:RiskParticipationDerivativeMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberobnk:RiskParticipationDerivativeMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberobnk:ForwardCommitmenttoPurchaseMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberobnk:ForwardCommitmenttoPurchaseMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberobnk:ForwardCommitmenttoSellMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberobnk:ForwardCommitmenttoSellMember2021-12-310001516912us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherAssetsMember2022-03-310001516912us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherAssetsMember2021-12-310001516912us-gaap:ShortMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:LongMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:ShortMemberus-gaap:NondesignatedMemberobnk:FinancialInstitutionMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:LongMemberus-gaap:NondesignatedMemberobnk:FinancialInstitutionMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:ShortMemberus-gaap:NondesignatedMemberobnk:CustomerMemberus-gaap:InterestRateSwapMember2022-03-310001516912us-gaap:LongMemberus-gaap:NondesignatedMemberobnk:CustomerMemberus-gaap:InterestRateSwapMember2022-03-310001516912obnk:A2012PlanMember2022-03-310001516912us-gaap:EmployeeStockMember2021-04-300001516912us-gaap:EmployeeStockMember2021-04-012021-04-300001516912us-gaap:PhantomShareUnitsPSUsMembersrt:MinimumMember2022-01-012022-03-310001516912srt:MaximumMemberus-gaap:PhantomShareUnitsPSUsMember2022-01-012022-03-310001516912us-gaap:PhantomShareUnitsPSUsMember2022-01-012022-03-310001516912us-gaap:EmployeeStockOptionMember2021-01-012021-03-310001516912us-gaap:EmployeeStockOptionMember2022-01-012022-03-310001516912obnk:RestrictedStockAndRestrictedStockUnitsMember2022-01-012022-03-310001516912obnk:RestrictedStockAndRestrictedStockUnitsMember2021-01-012021-03-310001516912us-gaap:PhantomShareUnitsPSUsMember2021-01-012021-03-310001516912us-gaap:EmployeeStockMember2022-01-012022-03-310001516912us-gaap:EmployeeStockMember2021-01-012021-03-310001516912srt:MinimumMemberus-gaap:RestrictedStockMember2022-01-012022-03-310001516912srt:MinimumMemberus-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-310001516912srt:MaximumMemberus-gaap:RestrictedStockMember2022-01-012022-03-310001516912srt:MaximumMemberus-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-31obnk:category0001516912us-gaap:RestrictedStockMember2021-12-310001516912us-gaap:RestrictedStockMember2020-12-310001516912us-gaap:RestrictedStockMember2022-01-012022-03-310001516912us-gaap:RestrictedStockMember2021-01-012021-03-310001516912us-gaap:RestrictedStockMember2022-03-310001516912us-gaap:RestrictedStockMember2021-03-310001516912us-gaap:RestrictedStockUnitsRSUMember2021-12-310001516912us-gaap:RestrictedStockUnitsRSUMember2020-12-310001516912us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-310001516912us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-03-310001516912us-gaap:RestrictedStockUnitsRSUMember2022-03-310001516912us-gaap:RestrictedStockUnitsRSUMember2021-03-310001516912us-gaap:PhantomShareUnitsPSUsMember2021-12-310001516912us-gaap:PhantomShareUnitsPSUsMember2020-12-310001516912us-gaap:PhantomShareUnitsPSUsMember2022-03-310001516912us-gaap:PhantomShareUnitsPSUsMember2021-03-3100015169122021-01-012021-12-3100015169122020-01-012020-12-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-03-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-03-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-03-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-03-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-03-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-03-310001516912us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-03-310001516912us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-03-310001516912srt:ParentCompanyMember2022-03-310001516912srt:SubsidiariesMemberobnk:OriginBankMember2022-03-310001516912srt:ParentCompanyMember2021-12-310001516912srt:SubsidiariesMemberobnk:OriginBankMember2021-12-3100015169122019-07-3100015169122021-04-012022-03-310001516912us-gaap:CommitmentsToExtendCreditMember2022-03-310001516912us-gaap:FinancialStandbyLetterOfCreditMember2022-03-310001516912us-gaap:CommitmentsToExtendCreditMember2021-12-310001516912us-gaap:FinancialStandbyLetterOfCreditMember2021-12-310001516912obnk:CommitmentsToExtendCreditUnconditionalCancellableCommitmentsMember2022-03-310001516912obnk:CommitmentsToExtendCreditUnconditionalCancellableCommitmentsMember2021-12-310001516912us-gaap:LetterOfCreditMemberobnk:FederalHomeLoanBankMember2022-03-31obnk:letter_of_credit0001516912us-gaap:LetterOfCreditMemberobnk:FederalHomeLoanBankMember2021-12-310001516912us-gaap:FinancialGuaranteeMember2022-03-310001516912us-gaap:FinancialGuaranteeMember2021-12-310001516912us-gaap:CommonStockMemberobnk:BTHMember2022-02-232022-02-230001516912obnk:BTHMember2022-02-230001516912obnk:BTHMember2022-02-230001516912obnk:BTHMember2022-02-232022-02-230001516912obnk:BTHMember2022-02-162022-02-160001516912srt:ScenarioForecastMember2022-12-31


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q

(Mark One)

    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
     For the quarterly period ended March 31, 2022

OR

    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
     For the transition period from ____________ to __________

Commission file number 001-38487
Origin Bancorp, Inc.

(Exact name of registrant as specified in its charter)
Louisiana72-1192928
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification Number)
500 South Service Road East
Ruston, Louisiana 71270
(318) 255-2222
(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Exchange on which registered
Common Stock, par value $5.00 per shareOBNKNasdaq Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date: 23,768,748 shares of Common Stock, par value $5.00 per share, were issued and outstanding at April 29, 2022.



ORIGIN BANCORP, INC.
FORM 10-Q
MARCH 31, 2022
INDEX
Page



Cautionary Note Regarding Forward-Looking Statements
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "projects," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will," and "would," or variations or negatives of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in our forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.
There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following:
business and economic conditions generally and in the financial services industry, nationally and within our local market areas, including the impact of supply-chain disruptions and labor pressures;
natural disasters and adverse weather events, acts of terrorism, an outbreak of hostilities, (including the impacts related to or resulting from Russia's military action in Ukraine, including the imposition of additional sanctions and export controls, as well as the broader impacts to financial markets and the global macroeconomic and geopolitical environments), regional or national protests and civil unrest (including any resulting branch closures or property damage), widespread illness or public health outbreaks or other international or domestic calamities, and other matters beyond our control;
system failures, cybersecurity threats and/or security breaches and the cost of defending against them;
the duration and impact of the coronavirus ("COVID-19") pandemic and efforts to contain its transmission, as well as the impact of the actions taken by governmental authorities to address the impact of COVID-19 on the United States economy, including, without limitation, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act") and any related future economic stimulus legislation;
The discontinuation of LIBOR (and its replacement with alternatives) could result in financial, operational, legal, reputational or compliance risks to us;
deterioration of our asset quality;
risks associated with widespread inflation or deflation;
factors that can impact the performance of our loan portfolio, including real estate values and liquidity in our primary market areas, the financial health of our commercial borrowers and the success of construction projects that we finance, including any loans acquired in acquisition transactions;
the risks of mergers, acquisitions and divestitures, including our ability to continue to identify acquisition targets and successfully acquire and integrate desirable financial institutions;
changes in the value of collateral securing our loans;
our ability to anticipate interest rate changes and manage interest rate risk;
the effectiveness of our risk management framework and quantitative models;
our inability to receive dividends from our bank subsidiary and to service debt, pay dividends to our common stockholders, repurchase our shares of common stock and satisfy obligations as they become due;
changes in our operation or expansion strategy or our ability to prudently manage our growth and execute our strategy;
3


changes in management personnel;
our ability to maintain important deposit customer relationships, our reputation or otherwise avoid liquidity risks;
increasing costs as we grow deposits;
operational risks associated with our business;
volatility and direction of market interest rates;
increased competition in the financial services industry, particularly from regional and national institutions;
our level of nonperforming assets and the costs associated with resolving any problem loans, including litigation and other costs;
our ability to comply with applicable capital and liquidity requirements, including our ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets;
changes in the utility of our non-GAAP liquidity measurements and their underlying assumptions or estimates;
difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which Origin operates and in which its loans are concentrated;
an increase in unemployment levels and slowdowns in economic growth;
the credit risk associated with the substantial amount of commercial real estate, construction and land development, and commercial loans in our loan portfolio;
changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, as well as tax, trade, monetary and fiscal matters;
periodic changes to the extensive body of accounting rules and best practices, may change the treatment and recognition of critical financial line items and affect our profitability;
further government intervention in the U.S. financial system;
compliance with governmental and regulatory requirements, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and others relating to banking, consumer protection, securities and tax matters; and
our ability to manage the risks involved in the foregoing.
The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this report. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. In addition, as a result of these and other factors, our past financial performance should not be relied upon as an indication of future performance. Accordingly, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties emerge from time to time, and it is not possible for us to predict those events or how they may affect us. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.


4




ORIGIN BANCORP, INC.
Consolidated Balance Sheets
(Dollars in thousands, except per share amounts)

March 31, 2022December 31, 2021
Assets(Unaudited)
Cash and due from banks$129,825 $133,334 
Interest-bearing deposits in banks454,619 572,284 
Total cash and cash equivalents584,444 705,618 
Securities:
Available for sale1,905,687 1,504,728 
Held to maturity, net allowance for credit losses of $352 and $167 at March 31, 2022, and December 31, 2021, respectively (fair value of $5,642 and $25,117 at March 31, 2022, and December 31, 2021, respectively)
4,831 22,767 
Securities carried at fair value through income7,058 7,497 
Total securities1,917,576 1,534,992 
Non-marketable equity securities held in other financial institutions45,242 45,192 
Loans held for sale ($41,922 and $37,032 at fair value at March 31, 2022, and December 31, 2021, respectively)
80,295 80,387 
Loans, net of allowance for credit losses of $62,173 and $64,586 at March 31, 2022, and December 31, 2021, respectively
5,132,233 5,166,745 
Premises and equipment, net80,421 80,691 
Mortgage servicing rights21,187 16,220 
Cash surrender value of bank-owned life insurance38,547 38,352 
Goodwill and other intangible assets, net50,578 51,330 
Accrued interest receivable and other assets161,772 141,758 
Total assets$8,112,295 $7,861,285 
Liabilities and Stockholders' Equity
Noninterest-bearing deposits$2,295,682 $2,163,507 
Interest-bearing deposits3,947,714 3,864,058 
Time deposits523,783 543,128 
Total deposits6,767,179 6,570,693 
Federal Home Loan Bank ("FHLB") advances, repurchase obligations and other borrowings305,560 309,801 
Subordinated indebtedness, net157,478 157,417 
Accrued expenses and other liabilities205,213 93,163 
Total liabilities7,435,430 7,131,074 
Commitments and contingencies - See Note 11 - Commitments and Contingencies
Stockholders' equity:
Preferred stock, no par value, 2,000,000 shares authorized
  
Common stock ($5.00 par value; 50,000,000 shares authorized; 23,748,748 and 23,746,502 shares issued at March 31, 2022, and December 31, 2021, respectively)
118,744 118,733 
Additional paid‑in capital242,789 242,114 
Retained earnings381,222 363,635 
Accumulated other comprehensive (loss) income(65,890)5,729 
Total stockholders' equity676,865 730,211 
Total liabilities and stockholders' equity$8,112,295 $7,861,285 

The accompanying notes are an integral part of these consolidated financial statements.

5

ORIGIN BANCORP, INC.
Consolidated Statements of Income
(Unaudited)
(Dollars in thousands, except per share amounts)

Three Months Ended March 31,
20222021
Interest and dividend income
Interest and fees on loans$51,183 $56,810 
Investment securities-taxable5,113 3,300 
Investment securities-nontaxable1,400 1,672 
Interest and dividend income on assets held in other financial institutions587 345 
Total interest and dividend income58,283 62,127 
Interest expense
Interest-bearing deposits2,886 3,789 
FHLB advances and other borrowings1,094 1,269 
Subordinated indebtedness1,801 1,830 
Total interest expense5,781 6,888 
Net interest income
52,502 55,239 
Provision for credit losses(327)1,412 
Net interest income after provision for credit losses52,829 53,827 
Noninterest income
Service charges and fees3,998 3,343 
Mortgage banking revenue4,096 4,577 
Insurance commission and fee income6,456 3,771 
Gain on sales of securities, net 1,668 
Loss on sales and disposals of other assets, net (38)
Limited partnership investment (loss) income(363)1,772 
Swap fee income139 348 
Other fee income598 771 
Other income982 919 
Total noninterest income15,906 17,131 
The accompanying notes are an integral part of these consolidated financial statements.

6

ORIGIN BANCORP, INC.
Consolidated Statements of Income - Continued
(Unaudited)
(Dollars in thousands, except per share amounts)
Three Months Ended March 31,
20222021
Noninterest expense
Salaries and employee benefits26,488 22,325 
Occupancy and equipment, net4,427 4,339 
Data processing2,486 2,173 
Electronic banking917 961 
Communications281 415 
Advertising and marketing871 680 
Professional services1,631 973 
Regulatory assessments626 1,170 
Loan-related expenses1,305 1,705 
Office and operations1,560 1,454 
Intangible asset amortization537 234 
Franchise tax expense770 619 
Other expenses875 2,388 
Total noninterest expense42,774 39,436 
Income before income tax expense25,961 31,522 
Income tax expense5,278 6,009 
Net income$20,683 $25,513 
Basic earnings per common share$0.87 $1.09 
Diluted earnings per common share0.87 1.08 
The accompanying notes are an integral part of these consolidated financial statements.

7

ORIGIN BANCORP, INC.
Consolidated Statements of Comprehensive Income (Loss)
(Unaudited)
(Dollars in thousands)

Three Months Ended March 31,
20222021
Net income$20,683 $25,513 
Other comprehensive income (loss)
Securities available for sale and transferred securities:
Net unrealized holding (loss) arising during the period(91,214)(15,852)
Net losses realized as a yield adjustment in interest on investment securities(3)(3)
Reclassification adjustment for net gain included in net income (1,668)
Change in the net unrealized (loss) on investment securities, before tax(91,217)(17,523)
Income tax (benefit) related to net unrealized (loss) arising during the period(19,156)(3,680)
Change in the net unrealized (loss) on investment securities, net of tax(72,061)(13,843)
Cash flow hedges:
Net unrealized gain arising during the period513 431 
Reclassification adjustment for (loss) gain included in net income(46)(49)
Change in the net unrealized gain on cash flow hedges, before tax559 480 
Income tax expense related to net unrealized gain on cash flow hedges117 101 
Change in net unrealized position on cash flow hedges, net of tax442 379 
Other comprehensive (loss), net of tax(71,619)(13,464)
Comprehensive (loss) income$(50,936)$12,049 

The accompanying notes are an integral part of these consolidated financial statements.

8

ORIGIN BANCORP, INC.
Condensed Consolidated Statements of Changes in Stockholders' Equity
(Unaudited)
(Dollars in thousands, except per share amounts)
Common Shares OutstandingCommon
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (loss)
Total
Stockholders'
Equity
Balance at January 1, 202123,506,312 $117,532 $237,341 $266,628 $25,649 $647,150 
Net income
— — — 25,513 — 25,513 
Other comprehensive (loss), net of tax— — — — (13,464)(13,464)
Recognition of stock compensation, net
20,140 100 661 — — 761 
Dividends declared - common stock ($0.10 per share)
— — — (2,349)— (2,349)
Repurchase of common stock(37,568)(188)(1,068)— — (1,256)
Balance at March 31, 202123,488,884 $117,444 $236,934 $289,792 $12,185 $656,355 
Common Shares OutstandingCommon
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (loss)
Total
Stockholders'
Equity
Balance at January 1, 202223,746,502$118,733 $242,114 $363,635 $5,729 $730,211 
Net income— 
20,683
20,683 
Other comprehensive (loss), net of tax— — — — (71,619)(71,619)
Recognition of stock compensation, net2,246 11675— — 686 
Dividends declared - common stock ($0.13 per share)
— — — (3,096)— (3,096)
Balance at March 31, 202223,748,748 $118,744 $242,789 $381,222 $(65,890)$676,865 








The accompanying notes are an integral part of these consolidated financial statements.

9

ORIGIN BANCORP, INC.
Consolidated Statements of Cash Flows
(Unaudited)
(Dollars in thousands)

Three Months Ended March 31,
Cash flows from operating activities:20222021
Net income$20,683 $25,513 
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses(327)1,412 
Depreciation and amortization2,067 1,695 
Net amortization on securities2,439 1,748 
Amortization of investments in tax credit funds470 373 
Gain on sale of securities, net (1,668)
Deferred income tax expense (benefit)2,572 (991)
Stock-based compensation expense737 614 
Originations of mortgage loans held for sale(81,175)(137,644)
Proceeds from mortgage loans held for sale81,916 184,283 
Gain on mortgage loans held for sale, including origination of servicing rights(2,450)(6,940)
Mortgage servicing rights valuation adjustment(4,240)(1,949)
Increase in the cash surrender value of life insurance(195)(204)
Net losses on sales and write-downs of other real estate owned 38 
Other operating activities, net(7,362)4,786 
Net cash provided by operating activities15,135 71,066 
Cash flows from investing activities:
Purchases of securities available for sale(430,946)(71,717)
Maturities and pay downs of securities available for sale40,661 38,028 
Proceeds from sales and calls of securities available for sale2,662 40,493 
Maturities, pay downs and calls of securities held to maturity17,749 142 
Net sales (purchases) of non-marketable equity securities held in other financial institutions(19)15,353 
Originations of mortgage warehouse loans(2,631,129)(5,050,426)
Proceeds from pay-offs of mortgage warehouse loans2,754,959 5,044,082 
Net (increase) in loans, excluding mortgage warehouse and loans held for sale(88,325)(124,129)
Return of capital and other distributions from limited partnership investments5,276  
Capital calls on limited partnership investments(97)(225)
Purchase of low-income housing tax credit investments (300)
Purchases of premises and equipment(1,243)(813)
Proceeds from sales of premises and equipment 51 
Proceeds from sales of other real estate owned 269 
Net cash (used in) investing activities(330,452)(109,192)
The accompanying notes are an integral part of these consolidated financial statements.

10

ORIGIN BANCORP, INC.
Consolidated Statements of Cash Flows - Continued
(Unaudited)
(Dollars in thousands)

Three Months Ended March 31,
Cash flows from financing activities:20222021
Net increase in deposits$196,486 $594,879 
Repayments on long-term FHLB advances(64)(13,529)
Proceeds from short-term FHLB advances 6,053,425 
Repayments on short-term FHLB advances (6,703,425)
Net increase (decrease) in securities sold under agreements to repurchase805 (2,087)
Dividends paid(3,084)(2,341)
Cash received from exercise of stock options 147 
Common stock repurchased (1,256)
Net cash provided by (used in) financing activities194,143 (74,187)
Net increase (decrease) in cash and cash equivalents(121,174)(112,313)
Cash and cash equivalents at beginning of period705,618 377,214 
Cash and cash equivalents at end of period$584,444 $264,901 
Interest paid$5,714 $6,999 
Income taxes paid 4,040 
Significant non-cash transactions:
Unsettled liability for investment purchases recorded at trade date115,180 1,376 
Real estate acquired in settlement of loans 2,575 
(Decrease) increase in GNMA repurchase obligations(4,982)9,593 
Recognition of operating right-of-use assets4,769  
Recognition of operating lease liabilities4,769  
The accompanying notes are an integral part of these consolidated financial statements.

11

ORIGIN BANCORP, INC.
Condensed Notes to Consolidated Financial Statements

Note 1 - Significant Accounting Policies
Nature of Operations.    Origin Bancorp, Inc. ("Company") is a financial holding company headquartered in Ruston, Louisiana. The Company's wholly-owned bank subsidiary, Origin Bank ("Bank"), provides a broad range of financial services to businesses, municipalities, high net worth individuals and retail clients. The Company currently operates 45 banking centers located in Dallas/Fort Worth and Houston, Texas, North Louisiana and in Mississippi. The Company principally operates in one business segment, community banking.
Basis of Presentation.    The consolidated financial statements in this quarterly report on Form 10-Q include the accounts of the Company and all other entities in which Origin Bancorp, Inc. has a controlling financial interest, including the Bank and Davison Insurance Agency, LLC, doing business as Lincoln Agency, LLC (the "Lincoln Agency"), Lincoln Agency Transportation Insurance, Pulley-White Insurance Agency (the "Pulley-White"), Reeves, Coon and Funderburg, Simoneaux & Wallace Agency and Thomas & Farr Agency. All significant intercompany balances and transactions have been eliminated in consolidation. The Company's accounting and financial reporting policies conform, in all material respects, to generally accepted accounting principles in the United States ("U.S. GAAP") and to general practices within the financial services industry. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued.
The consolidated financial statements in this quarterly report on Form 10-Q have not been audited by an independent registered public accounting firm, excluding the figures as of December 31, 2021, but in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company's financial position and results of operations for the periods presented. These consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and with the rules and regulations of the Securities and Exchange Commission (the "SEC") for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.
These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2021, included in the Company's annual report on Form 10-K ("2021 Form 10-K") filed with the SEC. Operating results for the interim periods disclosed herein are not necessarily indicative of results that may be expected for a full year. Certain prior period amounts have been reclassified to conform to the current year financial statement presentations. These reclassifications did not impact previously reported net income or comprehensive income.
Use of Estimates.    The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions based on available information that affect the amounts reported in the financial statements and disclosures provided, including the accompanying notes, and actual results could differ. Material estimates that are particularly susceptible to change include the allowance for credit losses for loans and available for sale securities; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the Company's consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual results could differ from those estimates.
Effect of Recently Adopted Accounting Standards
ASU No. 2021-06, Presentation of Financial Statements (Topic 205), Financial Services —Depository and Lending(Topic 942), and Financial Services — Investment Companies (Topic 946) —Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants amends the Accounting Standards Codification in order to agree the Codification to the new SEC releases 33-10786 and 33-10835 (the "Releases"). The Releases clearly define whether an acquired or disposed business subsidiary is significant; update, expand and eliminate certain disclosures; eliminate overlap with certain SEC and U.S.GAAP rules; and add a new subpart of Regulation S-K. The ASU is effective upon issuance; however, the SEC release on which the ASU is based is effective for registrants with the first fiscal year ending after December 15, 2021, while Guide 3 will be rescinded effective January 1, 2023. Implementation of this ASU did not materially impact the Company's financial statement disclosures.


12



ORIGIN BANCORP, INC.
Condensed Notes to Consolidated Financial Statements
Effect of Newly Issued But Not Yet Effective Accounting Standards
ASU No. 2021-08, Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this Update affect accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU
is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU is not expected to materially impact the Company's financial statements or disclosures.

ASU No. 2022-01, Derivatives and Hedging (Topic 815) — Fair Value Hedging - Portfolio Layer Method. The amendments in this Update clarify the accounting for and promote consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. Additionally, this Update allows entities to elect to apply the portfolio layer method of hedge accounting in accordance with Topic 815. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Implementation of this ASU is not expected to materially impact the Company's financial statements or disclosures.

ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326) — Troubled Debt Restructurings and Vintage Disclosures. The amendments in this Update eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. For public business entities, the amendments in this Update require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is reviewing this ASU and the possible impact to the Company's financial statements or disclosures.


13



ORIGIN BANCORP, INC.
Condensed Notes to Consolidated Financial Statements
Note 2 - Earnings Per Share
Basic and diluted earnings per common share are calculated using the treasury method. Under the treasury method, basic earnings per share is calculated as net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under the Company's stock and incentive compensation plans. Information regarding the Company's basic and diluted earnings per common share is presented in the following table:
(Dollars in thousands, except per share amounts)Three Months Ended March 31,
Numerator:20222021
Net income$20,683 $25,513 
Denominator:
Weighted average common shares outstanding23,700,550 23,393,356 
Dilutive effect of stock-based awards70,241 197,074 
Weighted average diluted common shares outstanding23,770,791 23,590,430 
Basic earnings per common share$0.87 $1.09 
Diluted earnings per common share0.87 1.08 


14



ORIGIN BANCORP, INC.
Condensed Notes to Consolidated Financial Statements

Note 3 - Securities
The following table is a summary of the amortized cost and estimated fair value, including the allowance for credit losses and gross unrealized gains and losses, of available for sale, held to maturity and securities carried at fair value through income for the dates indicated:
(Dollars in thousands)
March 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Allowance for Credit LossesNet Carrying Amount
Available for sale:
State and municipal securities$441,527 $2,812 $(23,754)$420,585 $ $420,585 
Corporate bonds85,236 817 (1,422)84,631  84,631 
U.S. government and agency securities268,249 2 (7,256)260,995  260,995 
Commercial mortgage-backed securities114,014  (6,899)107,115  107,115 
Residential mortgage-backed securities737,342 473 (34,451)703,364  703,364 
Commercial collateralized mortgage obligations45,061  (2,524)42,537  42,537 
Residential collateralized mortgage obligations217,819 29 (11,359)206,489  206,489 
Asset-backed securities80,383 109 (521)79,971  79,971 
Total$1,989,631 $4,242 $(88,186)$1,905,687 $ $1,905,687 
Held to maturity:
State and municipal securities$5,183 $459 $ $5,642 $(352)$4,831 
Securities carried at fair value through income:
State and municipal securities(1)
$7,375 $— $— $7,058 $— $7,058 
December 31, 2021
Available for sale:
State and municipal securities$394,046 $14,095 $(2,323)$405,818 $ $405,818 
Corporate bonds80,498 2,509 (273)82,734  82,734 
U.S. government and agency securities98,892 2 (1,236)97,658  97,658 
Commercial mortgage-backed securities65,691  (1,448)64,243  64,243 
Residential mortgage-backed securities559,655 3,751 (5,605)557,801  557,801 
Commercial collateralized mortgage obligations20,000 2 (330)19,672  19,672