Origin Bancorp Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
OBK$54.24+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $76,492 | $83,800 | $87,715 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 7,448 | 16,753 | 24,691 |
| Depreciation and amortization | 16,800 | 17,628 | 12,305 |
| Net amortization on securities | 4,807 | 6,889 | 8,734 |
| Accretion of net premium/discount on purchased loans | (2) | (2,023) | (2,840) |
| Amortization of investments in tax credit funds | 1,749 | 1,842 | 1,659 |
| Loss (gain) on sale of securities, net | 14,799 | 11,635 | (1,664) |
| Deferred income tax (benefit) expense | (1,467) | 27,714 | 18,309 |
| Stock-based compensation expense | 7,166 | 5,281 | 3,449 |
| Originations of mortgage loans held for sale | (197,577) | (187,088) | (259,202) |
| Proceeds from mortgage loans held for sale | 185,339 | 158,357 | 264,607 |
| Gain on mortgage loans held for sale (including origination of MSR for the years ended December 31, 2023 and 2022) | (4,928) | (3,819) | (7,175) |
| MSR asset valuation adjustment | (450) | 4,089 | (1,219) |
| Gain on sale of MSR asset | (410) | — | — |
| Net (gain) loss on disposals of premises and equipment | (878) | 2 | (19) |
| Increase in the cash surrender value of life insurance | (935) | (865) | (688) |
| Gain on equity securities without a readily determinable fair value | (5,188) | (10,096) | — |
| Net (gain) losses on sales and write-downs of other real estate owned | (67) | (66) | 194 |
| Net change in operating leases | 1,869 | (770) | (3) |
| Increase in other assets | (1,074) | (6,627) | (2,099) |
| Increase (decrease) in other liabilities | 4,988 | 7,285 | (1,105) |
| Net cash provided by operating activities | 108,481 | 129,921 | 145,649 |
| Cash flows from investing activities: | |||
| Cash acquired in business combination | — | — | 69,953 |
| Purchases of securities available for sale | (247,387) | (10,981) | (558,091) |
| Maturities and pay downs of securities available for sale | 166,818 | 137,815 | 165,328 |
| Proceeds from sales and calls of securities available for sale | 231,199 | 291,189 | 487,544 |
| Purchase of securities held to maturity | — | — | (7,000) |
| Maturities, pay downs and calls of securities held to maturity | 522 | 486 | 17,750 |
| Pay downs of securities carried at fair value | 299 | 285 | 275 |
| Redemption of non-marketable equity securities held in other financial institutions(1) | 10,680 | — | — |
| Purchase of non-marketable equity securities held in other financial institutions(1) | (21,302) | — | — |
| Net redemptions (purchases) of non-marketable equity securities held in other financial institutions(1) | (10,622) | 23,980 | (15,818) |
| Originations of mortgage warehouse loans | (9,705,580) | (6,470,400) | (9,126,356) |
| Proceeds from pay-offs of mortgage warehouse loans | 9,686,466 | 6,425,300 | 9,468,569 |
| Net decrease (increase) in loans, excluding mortgage warehouse and loans held for sale | 106,877 | (499,558) | (949,638) |
| Proceeds from sale of the MSR asset | 15,885 | — | — |
| Return of capital and other distributions from limited partnership investments | 1,374 | 1,757 | 6,668 |
| Capital calls on limited partnership investments | (1,082) | (2,644) | (4,057) |
| Purchase of low-income housing tax credit investments | (664) | (572) | (3,646) |
| Purchases of premises and equipment | (22,047) | (26,830) | (8,466) |
| Proceeds from sales of premises and equipment | 5,568 | 49 | — |
| Proceeds from sales of other real estate owned | 4,434 | 93 | 997 |
| Purchase of equity method investment | (800) | — | — |
| Proceeds from termination of cash flow hedge | 680 | — | — |
| Net cash provided by (used in) investing activities | 231,940 | (130,031) | (455,988) |
Consolidated Statements of Cash Flows - Continued
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from financing activities: | |||
| Net (decrease) increase in deposits | $(28,005) | $475,423 | $(361,450) |
| Repayments of long-term FHLB advances | (275) | (266) | (250,257) |
| Proceeds from short-term FHLB advances | 1,685,000 | 6,065,000 | 10,025,000 |
| Repayments of short-term FHLB advances | (1,755,000) | (6,545,000) | (9,475,000) |
| Maturities of subordinated debentures | — | (2,625) | — |
| Repurchase of subordinated debentures | (34,599) | (4,729) | — |
| Repayments of other short-term borrowings | — | (30,000) | — |
| Proceeds from other short-term borrowings | — | — | 30,000 |
| Net (decrease) increase in securities sold under agreements to repurchase | (863) | (20,797) | 8,339 |
| Dividends paid | (18,745) | (18,567) | (15,887) |
| Cash received from exercise of stock options | 1,874 | 3,140 | 2,948 |
| Net cash used in financing activities | (150,613) | (78,421) | (36,307) |
| Net increase (decrease) in cash and cash equivalents | 189,808 | (78,531) | (346,646) |
| Cash and cash equivalents at beginning of year | 280,441 | 358,972 | 705,618 |
| Cash and cash equivalents at end of year | $470,249 | $280,441 | $358,972 |
| Interest paid | $268,459 | $215,479 | $50,104 |
| Income taxes paid (refund) | 24,171 | 383 | (6,261) |
| Significant non-cash transactions: | |||
| Unsettled liability for investment purchases recorded at trade date | (5) | — | 751 |
| Real estate acquired in settlement of loans | 3,576 | 3,243 | 675 |
| Real estate transferred from fixed assets to other real estate owned | 894 | — | — |
| Transfers from loans held for sale to loans held for investment (1) | 18,596 | — | — |
| Decrease in Government National Mortgage Association (“GNMA”) repurchase obligation | — | (24,569) | (18,786) |
| Recognition of operating right-of-use assets | 11,454 | 20,568 | 13,428 |
| Recognition of operating lease liabilities | 12,659 | 20,653 | 13,643 |
| Total assets acquired in BTH merger | — | — | 1,846,598 |
| Total liabilities assumed in BTH merger | — | — | 1,633,340 |
| Common stock issued in BTH merger as consideration | — | — | 292,657 |
(1)No change was made to the prior period presentation due to immateriality.
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