Origin Bancorp reports Q1 EPS 3c, consensus 42c

"At Origin we talk about being a company that is different, that is responsive, that is nimble, that delivers for our employees, customers, communities and shareholders, and prides itself on our culture." said Drake Mills, Chairman, President and CEO of Origin Bancorp, Inc. "Over the past 60 days those claims and statements have been tested like never before, and our team has delivered. I am proud to lead an incredible organization with incredible people who, in these very tough times, have not wavered in their commitment to our company, our culture, our customers and our core values."Net interest income for the quarter ended March 31, 2020, was $42.8 million, reflecting a decrease of $1.3 million, or 2.9%, compared to the linked quarter. A decline in yields earned on loans held for investment accounted for $1.7 million of the decrease, while a decline in average balance of loans held for investment accounted for $626,000 of the decline. These decreases were partially offset by a $1.3 million decrease in rates paid on interest-bearing deposits. Declining short term interest rates during the second half of the first quarter of 2020 have impacted the yields earned primarily on our commercial and industrial and commercial real estate loan portfolios.