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v3.25.1

Borrowings | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Borrowings | Note 7 — Borrowings Borrowed funds are summarized as follows:
(Dollars in thousands) | March 31, 2025 |  | December 31, 2024
Long-term FHLB advances | $ | 6,128 |  |  | $ | 6,198 |
Overnight repurchase agreements with depositors | 6,360 |  |  | 6,262 |
Total FHLB advances and other borrowings | $ | 12,488 |  |  | $ | 12,460 |
Subordinated indebtedness, net | $ | 89,599 |  |  | $ | 159,943 |
In February 2020, Origin Bank completed an offering of $70.0 million in aggregate principal amount of 4.25% fixed-to-floating rate subordinated notes due 2030 (the “4.25% Notes”) to certain investors in a transaction exempt from registration under Section 3(a)(2) of the Securities Act of 1933, as amended. The 4.25% Notes bore interest at a fixed annual rate of 4.25%, payable semi-annually in arrears, to but excluding February 15, 2025. From and including February 15, 2025, to but excluding the maturity date or early redemption date, the interest rate would equal the three-month LIBOR rate plus 282 basis points, payable quarterly in arrears. On June 30, 2023, in conjunction with the customary fallback provision upon the discontinuation of LIBOR, the rate for the floating rate periods from and including February 15, 2025, on these notes transitioned to the three-month term SOFR plus 308 basis points. Origin Bank elected to redeem the 4.25% Notes on February 15, 2025, as permitted under the terms of the 4.25% Notes.

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