RUSTON, La., Oct. 08, 2020 — Origin Bancorp, Inc. (Nasdaq: OBNK) (“Origin”), the guardian holding firm of Origin Financial institution, introduced as we speak that it has priced the underwritten public providing of $80 million mixture principal quantity of its 4.50% Mounted-to-Floating Charge Subordinated Notes due 2030 (the “Notes”). The Notes will initially bear a hard and fast rate of interest of 4.50% per yr, payable semi-annually in arrears. Commencing on November 1, 2025, the rate of interest on the Notes might be a floating every year fee equal to the Benchmark fee (which is anticipated to be Three-Month Time period SOFR) (every as outlined within the subordinated debt indenture and the complement thereto below which the Notes might be issued) plus 432 foundation factors, payable quarterly in arrears. The providing is anticipated to fund on October 16, 2020, topic to the satisfaction of customary closing circumstances.
Origin expects to make use of the online proceeds of this providing for normal company functions, which can embrace the assist of Origin Financial institution’s steadiness sheet progress, the acquisition of different banks or monetary establishments or different complementary companies to the extent such alternatives come up, and the upkeep of Origin’s capital and liquidity ratios, and the ratios of Origin Financial institution, at acceptable ranges.
Stephens Inc. is the only real book-running supervisor for the providing.
The Notes might be issued pursuant to an efficient shelf registration assertion (File No. 333-234068) Origin has filed with the Securities and Alternate Fee (the “SEC”) and solely by way of a prospectus complement and accompanying prospectus. Origin has filed a preliminary prospectus complement with the SEC for the providing to which this communication relates. Potential traders ought to learn the preliminary prospectus complement and the accompanying prospectus and different paperwork Origin has filed with the SEC for extra full details about Origin and the providing. You could entry these paperwork without cost by visiting EDGAR on the SEC’s web site at www.sec.gov. Alternatively, Origin, the underwriters or any vendor collaborating within the providing will prepare to ship you the preliminary prospectus complement and the accompanying prospectus when you request it by calling Stephens Inc. toll-free at (800) 643-9691.
No Supply or Solicitation
This communication shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any securities, nor shall there be any provide or sale of any securities in any state or jurisdiction by which such provide, solicitation or sale could be illegal.
Origin is a monetary holding firm headquartered in Ruston, Louisiana. Origin’s wholly owned financial institution subsidiary, Origin Financial institution, was based in 1912. Deeply rooted in Origin’s historical past is a tradition dedicated to offering personalised, relationship banking to its purchasers and communities. Origin offers a broad vary of economic providers to companies, municipalities, excessive internet value people and retail purchasers. Origin at present operates 43 banking facilities situated from Dallas/Fort Value, Texas throughout North Louisiana to Central Mississippi, in addition to in Houston, Texas. For extra info, go to www.origin.financial institution.
This press launch comprises sure forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements embrace info relating to Origin’s future monetary efficiency, enterprise and progress technique, projected plans and goals, together with Origin’s mortgage loss reserves and allowance for credit score losses associated to the COVID-19 pandemic and any anticipated purchases of its excellent widespread inventory, and associated transactions and different projections based mostly on macroeconomic and business tendencies, together with expectations relating to and efforts to reply to the COVID-19 pandemic and continued low rates of interest or rate of interest cuts by the Federal Reserve and the ensuing influence on Origin’s outcomes of operations, estimated forbearance quantities and expectations relating to Origin’s liquidity, together with in reference to advances obtained from the FHLB, that are all topic to vary and could also be inherently unreliable because of the a number of elements that influence broader financial and business tendencies, and any such modifications could also be materials. Such forward-looking statements are based mostly on varied information and derived using necessary assumptions and present expectations, estimates and projections about Origin and its subsidiaries, any of which can change over time and a few of which can be past Origin’s management. Statements preceded by, adopted by or that in any other case embrace the phrases “anticipates,” “believes,” “expects,” “foresees,” “intends,” “plans,” and comparable expressions or future or conditional verbs reminiscent of “may,” “might,” “would possibly,” “ought to,” “will,” and “would” or variations of such phrases are typically forward-looking in nature and never historic information, though not all forward-looking statements embrace the foregoing phrases. Additional, sure elements that might have an effect on Origin’s future outcomes and trigger precise outcomes to vary materially from these expressed within the forward-looking statements embrace, however usually are not restricted to: the persevering with length and impacts of the COVID-19 international pandemic and efforts to comprise its transmission, together with the impact of those elements on Origin’s enterprise, prospects and financial circumstances typically, in addition to the influence of the actions taken by governmental authorities to deal with the influence of COVID-19 on the US economic system, together with, with out limitation, the Coronavirus Help, Aid and Financial Safety Act (the “CARES Act”); deterioration of Origin’s asset high quality; elements that may influence the efficiency of Origin’s mortgage portfolio, together with actual property values and liquidity in Origin’s main market areas; the monetary well being of Origin’s industrial debtors and the success of building tasks that Origin funds; modifications within the worth of collateral securing Origin’s loans; Origin’s skill to anticipate rate of interest modifications and handle rate of interest danger; the effectiveness of Origin’s danger administration framework and quantitative fashions; Origin’s incapability to obtain dividends from Origin Financial institution and to service debt, pay dividends to Origin’s widespread stockholders, repurchase Origin’s shares of widespread inventory and fulfill obligations as they turn out to be due; enterprise and financial circumstances typically and within the monetary providers business, nationally and inside Origin’s main market areas; modifications in Origin’s operation or growth technique or Origin’s skill to prudently handle its progress and execute its technique; modifications in administration personnel; Origin’s skill to keep up necessary buyer relationships, fame or in any other case keep away from liquidity dangers; rising prices as Origin grows deposits; operational dangers related to Origin’s enterprise; volatility and route of market rates of interest; elevated competitors within the monetary providers business, significantly from regional and nationwide establishments; tough market circumstances and unfavorable financial tendencies in the US typically, and significantly available in the market areas by which Origin operates and by which its loans are concentrated; a rise in unemployment ranges and slowdowns in financial progress; Origin’s stage of nonperforming belongings and the prices related to resolving any drawback loans together with litigation and different prices; the credit score danger related to the substantial quantity of economic actual property, building and land improvement, and industrial loans in Origin’s mortgage portfolio; modifications in legal guidelines, guidelines, laws, interpretations or insurance policies regarding monetary establishments, in addition to tax, commerce, financial and financial issues; periodic modifications to the in depth physique of accounting guidelines and finest practices; additional authorities intervention within the U.S. monetary system; compliance with governmental and regulatory necessities, together with the Dodd-Frank Wall Avenue Reform and Shopper Safety Act and others regarding banking, client safety, securities and tax issues; Origin’s skill to adjust to relevant capital and liquidity necessities, together with its skill to generate liquidity internally or increase capital on favorable phrases, together with continued entry to the debt and fairness capital markets; modifications within the utility of Origin’s non-GAAP liquidity measurements and its underlying assumptions or estimates; uncertainty relating to the way forward for the London Interbank Provided Charge and the influence of any substitute options on Origin’s enterprise; pure disasters and opposed climate occasions, acts of terrorism, an outbreak of hostilities, regional or nationwide protests and civil unrest (together with any ensuing department closures or property injury), widespread sickness or public well being outbreaks or different worldwide or home calamities, and different issues past Origin’s management; and system failures, cybersecurity threats and/or safety breaches and the price of defending towards them. For a dialogue of those and different dangers which will trigger precise outcomes to vary from expectations, please discuss with the sections titled “Cautionary Word Concerning Ahead-Trying Statements” and “Danger Elements” in Origin’s most up-to-date Annual Report on Kind 10-Ok filed with the SEC and any updates to these sections set forth in Origin’s subsequent Quarterly Stories on Kind 10-Q and Present Stories on Kind 8-Ok. If a number of occasions associated to those or different dangers or uncertainties materialize, or if Origin’s underlying assumptions show to be incorrect, precise outcomes might differ materially from what Origin anticipates. Accordingly, you shouldn’t place undue reliance on any forward-looking statements. Any forward-looking assertion speaks solely as of the date on which it’s made, and Origin doesn’t undertake any obligation to publicly replace or evaluation any forward-looking assertion, whether or not on account of new info, future developments or in any other case. New dangers and uncertainties come up every so often, and it isn’t doable for Origin to foretell these occasions or how they could have an effect on Origin. As well as, Origin can’t assess the influence of every issue on Origin’s enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary materially from these contained in any forward-looking statements. Moreover, many of those dangers and uncertainties are at present amplified by and should proceed to be amplified by or might, sooner or later, be amplified by, the latest outbreak of the COVID-19 pandemic and the influence of various governmental responses, together with the CARES Act, that have an effect on Origin’s prospects and the economies the place they function. All forward-looking statements, expressed or implied, included on this communication are expressly certified of their entirety by this cautionary assertion. This cautionary assertion also needs to be thought of in reference to any subsequent written or oral forward-looking statements that Origin or individuals performing on Origin’s behalf might subject. Annualized, professional forma, adjusted, projected and estimated numbers are used for illustrative goal solely, usually are not forecasts and should not mirror precise outcomes.
Contact: Chris Reigelman, Origin Bancorp, Inc. 318-497-3177 / [email protected]