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Borrowings
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Borrowings
Note 7 — Borrowings
Borrowed funds are summarized as follows:
(Dollars in thousands)June 30, 2025December 31, 2024
Short-term FHLB advances$115,000 $— 
Long-term FHLB advances6,057 6,198 
Overnight repurchase agreements with depositors6,786 6,262 
Total FHLB advances and other borrowings$127,843 $12,460 
Subordinated indebtedness, net$89,657 $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 Secured Overnight Financing Rate (“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.
Additional details of certain short-term FHLB advances are as follows:
(Dollars in thousands)AmountInterest RateMaturity Date
At June 30, 2025:
Short-term FHLB advance, fixed rate$75,000 4.38 %7/1/2025
Short-term FHLB advance, fixed rate40,000 4.75 7/1/2025