Origin Bancorp holds annual meeting; elects directors, confirms auditor

RUSTON, LA - Origin Bancorp (NYSE:OBK), Inc. (NYSE:OBNK), a commercial bank headquartered in Louisiana with a market capitalization of $967 million, reported the outcomes of its annual shareholder meeting held on April 23. Trading at $31.41 per share and offering a 1.89% dividend yield, the bank currently appears undervalued according to InvestingPro analysis. The gathering, which took place in Choudrant, LA, saw significant participation with approximately 86.05% of eligible shares represented.

During the meeting, shareholders voted on three major proposals. The first was the election of eleven directors to serve until the 2026 annual meeting. All nominees were elected with a substantial majority, with Daniel Chu receiving the highest number of affirmative votes at over 22.5 million, and the lowest being Meryl Farr with just under 22 million in favor. The election witnessed minimal opposition and abstentions, while broker non-votes were consistent across all candidates at roughly 4.3 million. This strong shareholder engagement comes as InvestingPro data shows the bank maintaining a GOOD financial health score, with three analysts recently revising their earnings expectations upward.

The second proposal, a non-binding advisory vote on executive compensation, also known as the "Say-On-Pay Proposal," passed with over 21.8 million votes for and around 746,500 against. The third and final proposal confirmed the appointment of Forvis Mazars, LLP as the company’s independent auditor for the fiscal year ending December 31, 2025, with over 26.7 million votes in favor.

Origin Bancorp, which trades under the OBK symbol on the New York Stock Exchange, has indicated that these voting results are based on a press release statement. The company, with a Standard Industrial Classification as a state commercial bank, has its fiscal year-end on December 31 and is incorporated in Louisiana.

The SEC filing confirmed that William J. Wallace, IV, Senior Executive Officer and Chief Financial Officer, has duly authorized the report on behalf of Origin Bancorp, Inc. The bank’s business address is listed as 500 South Service Road East, Ruston, Louisiana, with a business phone number provided for contact.

This report provides a concise summary of the key outcomes from the annual meeting, reflecting the decisions made by shareholders on the leadership and governance of the bank for the upcoming year. With a P/E ratio of 12.11 and positive analyst sentiment, Origin Bancorp continues to demonstrate solid fundamentals despite recent stock price weakness. For deeper insights into Origin Bancorp’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.

In other recent news, Origin Bancorp has reported its first-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.71, compared to the forecasted $0.66. The company’s revenue also slightly exceeded projections, coming in at $94.06 million against an expected $93.58 million. Despite these positive financial results, Raymond (NSE:RYMD) James revised the price target for Origin Bancorp to $38.00 from $39.00, while maintaining an Outperform rating. The bank’s first-quarter performance showed a notable expansion in net interest margin, which helped offset a decline in average earning assets. Additionally, Origin Bancorp reported lower-than-expected core noninterest expenses and stronger-than-anticipated deposit growth. However, the company faced challenges such as a shortfall in core fee income and contracting loan yields. The "Optimize Origin" initiative was launched to streamline operations, with projected benefits now increased to $23 million. Looking ahead, Origin Bancorp has adjusted its loan growth guidance to the lower end of its previous range, reflecting caution amid macroeconomic uncertainty.

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