Condensed Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Financial statements of Origin Bancorp, Inc. (parent company only) are as follows:


(Dollars in thousands)	December 31,
Condensed Balance Sheets	2021		2020
Assets
Cash and cash equivalents	$	28,904	$	42,908
Investment in affiliates/subsidiaries	774,840		684,410

Other assets	16,343		10,198
Total assets	$	820,087	$	737,516
Liabilities and Stockholders' Equity


Subordinated indebtedness, net	$	88,405	$	88,258
Accrued expenses and other liabilities	1,471		2,108
Total liabilities	89,876		90,366
Stockholders' Equity

Common stock	118,733		117,532
Additional paid‑in capital	242,114		237,341
Retained earnings	363,635		266,628
Accumulated other comprehensive income	5,729		25,649
Total stockholders' equity	730,211		647,150
Total liabilities and stockholders' equity	$	820,087	$	737,516


(Dollars in thousands)	Years Ended December 31,
Condensed Statements of Income	2021		2020		2019
Income:
Dividends from subsidiaries	$	19,200	$	17,250	$	17,500
Other	1,608		12		470
Total income	20,808		17,262		17,970
Expenses:
Interest expense	4,313		1,333		563
Salaries and employee benefits	221		214		728
Other	1,079		1,182		1,565
Total expenses	5,613		2,729		2,856
Income before income taxes and equity in undistributed net income of subsidiaries	15,195		14,533		15,114
Income tax benefit	762		549		502
Income before equity in undistributed net income of subsidiaries	15,957		15,082		15,616
Equity in undistributed net income of subsidiaries	92,589		21,275		38,266
Net income	$	108,546	$	36,357	$	53,882


(Dollars in thousands)	Years Ended December 31,
Condensed Statements of Cash Flows	2021		2020		2019
Cash flows from operating activities:
Net income	$	108,546	$	36,357	$	53,882
Adjustments to reconcile net income to net cash provided by operating activities:

Deferred income taxes	7		(1)		9

Equity in undistributed net income of subsidiaries	(92,589)		(21,275)		(38,266)
Amortization of subordinated indebtedness discount	147		58		28

Other, net	(5,898)		3,633		130
Net cash provided by operating activities	10,213		18,772		15,783
Cash flows from investing activities:

Lincoln Agency and Pulley-White acquisitions	(7,457)		—		—
Capital contributed to subsidiaries	—		(51,000)		—
Net purchases of non-marketable equity securities held in other financial institutions	(3,612)		—		—
Capital calls on limited partnership investments	(513)		—		—
Net cash used in investing activities	(11,582)		(51,000)		—
Cash flows from financing activities:

Dividends paid	(11,525)		(8,854)		(5,863)

Cash received on exercise of stock options	146		248		166

Proceeds from issuance of subordinated indebtedness	—		78,556		—


Payment to repurchase common stock	(1,256)		(723)		(10,059)

Net cash provided by (used by) financing activities	(12,635)		69,227		(15,756)
Net increase (decrease) in cash and cash equivalents	(14,004)		36,999		27
Cash and cash equivalents at beginning of year	42,908		5,909		5,882
Cash and cash equivalents at end of year	$	28,904	$	42,908	$	5,909