Origin Bancorp Q3 Profit Hit by $35.2M Fraud Charge

Origin Bancorp reported third-quarter net income fell 41% to $8.62 million, or $0.27 per share, while revenue rose roughly 21% year‑over‑year to about $109.8 million. Net interest income reached a ten‑quarter high and the Optimize Origin efficiency initiative drove a 122% increase in pre‑tax, pre‑provision earnings by improving branch management and capital use. The company recorded a $35.2 million fraud‑related loan loss provision that produced a sharp EPS miss versus expectations (reported $0.27 vs. about $0.80 expected) and prompted a premarket stock decline. Origin said tangible book value continued to grow and its strategic investments, including a stake in Argent Financial, are expected to add roughly $6 million annually to future earnings. Analysts remain cautiously optimistic, with a median 12‑month price target near $43, viewing the stock as a potential value play despite the one‑off credit shock.