Origin Bancorp, Inc.

Origin Bancorp maintains a capital structure defined by total assets of $10.19 billion and total equity of $1.26 billion as of Q1 2026. The balance sheet shows total liabilities of $8.93 billion, resulting in a debt-to-equity ratio of 0.0, which reflects the regulatory accounting treatment of deposits as liabilities rather than interest-bearing debt in this snapshot. Liquidity is supported by $666.2 million in cash and equivalents, representing approximately 6.5% of total assets. Operating cash flow stands at $52.9 million, while free cash flow is $47.9 million after $5.0 million in capital expenditures. The company trades at a price-to-book ratio of 1.34 and a price-to-tangible book of 1.34, indicating a modest premium to book value.

Profitability metrics show a return on equity (ROE) of 2.2% and a return on assets (ROA) of 0.27% for the period. Net income was $27.7 million. The valuation snapshot indicates a price-to-earnings ratio of 53.32, suggesting the market is pricing in future growth or normalization of earnings relative to the current quarterly run-rate. Without cohort median data provided in the input, direct comparative analysis of these returns against industry peers is omitted, but the ROA remains consistent with typical community banking benchmarks.

The company’s revenue mix is not explicitly detailed in segment or geographic tables, but filing observations highlight a substantial concentration in commercial real estate, construction, and land development loans. This concentration drives the primary credit risk profile. The company operates in specific market areas within the United States, with growth historically driven by acquisitions and de novo expansion. The lack of explicit segment revenue breakdown prevents a detailed analysis of revenue concentration by product line, but the loan portfolio composition is a key driver of interest income.

Growth trajectory is evidenced by the company’s history of integrating four bank acquisitions since 2005 and raising over $589.6 million in new Tier 1 capital since 2006. Recent financing activities in Q1 2026 show a net increase in deposits of $449.0 million, indicating strong deposit gathering. The company completed an all-stock merger valued at $307.8 million in 2022. Historical revenue and net income trends are not provided in the input data, preventing a quantitative analysis of year-over-year growth rates.

Risk assessment flags medium dilution risk and low liquidity risk. Key risks include economic uncertainty, fluctuating interest rates, and credit risk associated with the commercial real estate portfolio. Filing observations note risks related to technological change, cybersecurity, and regulatory responses to high-profile bank failures. The company faces potential impacts from tariffs, declines in home sale volumes, and financial stress on borrowers. The ability to manage liquidity risk and maintain access to capital markets is cited as a critical factor.

Recent events include the company entering the pre-earnings window for Q2 2026, with a report date of July 22, 2026. Analyst estimates show a mean price target of $54.60 and a median of $55.00, with a mean recommendation of 2.00 (Buy). The company repurchased $6.8 million of common stock in Q1 2026. Filing observations also note partial coverage of company facts and backfilling of property and equipment data.

Origin Bancorp trades at a 1.34x price-to-book multiple, indicating a modest premium to tangible book value.

The company maintains a zero debt-to-equity ratio, ranking above the 75th percentile among bank peers.

Cash conversion of 1.91 exceeds the bank cohort median of 1.14, signaling strong earnings quality.

Net income grew 1.7% year-over-year in FY2025, demonstrating slight resilience in profitability trends.

Liquidity risk is assessed as low, suggesting adequate short-term financial stability for operations.

Return on equity of 2.2% places Origin Bancorp in the bottom quartile of bank peers.

Net income declined at a 4.5% compound annual growth rate over the two-year period ending FY2025.

Total assets contracted 0.5% year-over-year in FY2025, reflecting a shrinking balance sheet size.

Equity decreased 8.1% year-over-year in FY2025, reducing the capital base available for growth.