Origin Bancorp, Inc.

Good day and welcome to the Origin Bancorp, Inc. fourth quarter and 2020 full year earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star, then 2. Please note this event is being recorded. I would now like to turn the conference over to Chris Riegelman, Head of Investor Relations. Please go ahead.

Good morning and thank you for joining us today. We issued our earnings press release yesterday afternoon, a copy of which is available on our website, along with a slide presentation that we will refer to during this presentation. Please refer to slide two 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.origin.bank. Please also note that our safe harbor statements are available on page six 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 Bank Corp's Chairman, President, and CEO, Drake Mills, our Chief Financial Officer, Steve Brawley, President and CEO of Origin Bank, Lance Hall, our Chief Risk Officer, Jim Crotwell, and our Chief Credit and Banking Officer, Preston Moore. After the presentation, we'll be happy to address any questions you may have. Now, I'll turn the call over to you, Drake.

Thank you, Chris, and good morning. On our call last year at this time, my closing comments spoke to business cycles changing. That our team was focused on adapting to those changes whilst always being mindful of the commitment to our culture, our people, and driving shareholder value. Those words foreshadowed what we experienced in 2020. For me, the highlight of this past year has been the performance and quality of the origin team. This was not accidental. We made purposeful, strategic decisions that put us in a position to be successful despite the challenges. The same mentality is what guides us as we move forward. Well, I'm proud of the financial results for the quarter and the full year. I'm most proud of the resiliency of our employees during the pandemic and the focus they have on serving our customers and communities. Being able to adapt and being committed to our culture is what has sustained us in 2020 and puts us in a position to take advantage of future opportunities. We ended December with $7.6 billion in total assets, $5.7 billion in total loans, and $5.8 billion in deposits. Net income for the quarter was $17.6 million. an increase of $4.5 million from the third quarter of 2020, and 75 cents diluted earnings per share, which is an all-time quarterly high for the company. Our net interest margin for the quarter was 3.07% on a tax-equivalent basis, and our efficiency ratio was just under 58%. For the full year, we had net income of $36.4 million and diluted EPS of $1.55. Our pre-tax, pre-provision revenue was $104.3 million, up 37% over 2019. Our efficiency ratio was just under 60% for the year, which was an improvement over 2019. Before I turn it over to Lance, I want to speak to something that I think gets overlooked in the origin story, and that's the success we have experienced in our Texas market. We entered Texas de novo in 2008 during an economic downturn. Our strategy was to grow in the DFW market one relationship at a time. Now we have meaningful presence in two of the largest growth markets in the country. Our strategy has always revolved around relationships, having the right people with the right leadership and earning the trust and loyalty of our customers every day. When I look at the incredible teams of seasoned bankers we have in place today, I think it's a testament to the origin culture and our way of doing business. We have executed on our strategy over the last 12 years, allowing us not only to increase our presence in DFW, but also experience tremendous growth in Houston starting in 2013. As you can see on slide seven, our franchise in Texas has experienced compound annual growth rates on both loans and deposits exceeding 20% from 2016 through 2020. I believe we are well positioned to continue to capitalize on our investment in people and infrastructure while increasing our franchise value for the company. Now I'll turn it over to Lance.