Origin Bancorp, Inc. (NYSE:OBK) Q2 2024 Earnings Call Transcript July 25, 2024 9:00 AM ET

Company Participants

Chris Reigelman - Executive Director of IR
Drake Mills - Chairman, President and CEO
Lance Hall - President and CEO, Origin Bank
Jim Crotwell - CRO
Wally Wallace - CFO

Conference Call Participants

Matt Olney - Stephens Inc.
Michael Rose - Raymond James
Woody Lay - KBW

Operator

Ladies and gentlemen, good morning and welcome to the Origin Bancorp, Inc. Second Quarter 2024 Earnings Conference Call. My name is David, and I will be your Evercall coordinator. The format of this call includes prepared remarks from the company, followed by a question-and-answer session. Please note that this event is being recorded and all participants will be on listen-only mode until the Q&A portion of the call. I would now like to turn the conference over to Chris Reigelman, Executive Director of Investor Relations. Please Chris, go ahead.

Chris Reigelman

Good morning and thank you for joining us today. We issued our earnings press release yesterday afternoon, a copy of which is available on our website along with the slide presentation that we will refer to during this call. Please refer to Page 2 of our slide presentation, which includes our safe harbor statements regarding forward-looking statements and use of non-GAAP financial measures. For those joining by phone, please note the slide presentation is available on our website at www.ir.origin.bank. Please also note that our safe harbor statements are available on Page 5 of our earnings release filed with the SEC yesterday.

All comments made during today's call are subject to the safe harbor statements in our slide presentation and earnings release. I'm joined this morning by Origin Bancorp's Chairman, President and CEO, Drake Mills; President and CEO of Origin Bank, Lance Hall; our Chief Financial Officer, Wally Wallace; Chief Risk Officer, Jim Crotwell; our Chief Accounting Officer, Steve Brolly and our Chief Credit and Banking Officer, Preston Moore.

After the presentation, we'll be happy to address any questions you may have. Drake, the call is yours.

Drake Mills

Thanks Chris. As we enter the second half of the year, I am pleased with our company's momentum moving forward and I'm very proud of our bankers as they continue to battle for deposit growth in highly competitive markets. Our bankers are experiencing success in new customer acquisition as well as expanding current relationships. On a core operating basis, our second quarter results were in line with our expectations. Our EPS results were positively impacted by $0.15 due to a valuation adjustment of our investment in Origin Financial and by the sale of one of our former Houston locations.