Origin Bancorp, Inc.

Good morning, and welcome to the Origin Bancorp, Inc. First Quarter 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 all participants will be on a listen-only mode until the Q&A portion of the call. Also note, this event is being recorded. I would now like to turn the conference over to Chris Reigelman, Head of Investor Relations. Please, Chris, 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 the slide presentation that we were referred to during this call. 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 seven 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, President and CEO of Origin Bank, Lance Hall, our Chief Financial Officer, Wally Wallace, Chief Risk Officer, Jim Crockwell, Chief Accounting Officer, Steve Brawley, 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.

Thank you, Chris. Origin has consistently focused on long-term strategies that have guided us through multiple cycles throughout our 111-year history, and unfortunately, I've been here a third of that time. We manage this company for long-term success, and we're confident in both the strength of this company and the experience of our management team to continue to deliver meaningful value to our employees, customers, communities, and shareholders. Just as we have in the past, we are positioned to take advantage of the opportunities presented during these times. As we enter 2023, it was clear that we were facing an environment where deposit competition from sources outside the industry were intense. Our primary strategic focus was to protect our deposit franchise while adding deposit growth. As with most strategies, they come with a cost but generally pay long-term dividends. The events that occurred in early March only amplified the situation. I feel that the deposits lost in this cycle will not return to our industry in the near future. Considering these issues and working through our conservative management model, we made the decision to take on excess liquidity to support possible deposit outflows. I am proud of the actions we took as a team to serve as trusted advisors to our customers, and as a result, our deposit trends in March were stable, and we increased total deposits for the quarter. For Origin, It always comes back to relationships, and I believe that the strength of our relationships will continue to drive long-term success for our company. There were many positives that took place this quarter. Our tangible common equity ratio ended the quarter at 8% despite the excess liquidity on our balance sheet. Tangible book value grew nearly 6% during the quarter to $26.53. Our loan portfolio, excluding mortgage warehouse, grew 3.4%. Our credit quality remains pristine with net charge-offs in the single digits and non-performing assets of just 22 basis points. Non-interest income and non-interest expense both beat our expectations. Look, I continue to be bullish on Origin. This experienced management team and this company have been through multiple cycles, and while each cycle is different, we have come out stronger at the end. We are a proven organic grower with a franchise that expands across some of the most dynamic growth markets in the country. Additionally, we have rural deposit base throughout North Louisiana, Mississippi, and now East Texas. All of these markets have customers whose loyalty stretches generations. I'm so proud of both our disciplined credit culture and the experienced management team around them. All this gives me great confidence in the value that Origin will provide to all our stakeholders. Now I'll turn it over to Lance.