The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Profit falls at Origin in La. from NIM pressure, securities loss

Origin Bancorp in Ruston, La., posted a decline in quarterly profit that reflected margin pressure and the sale of securities.

The $9.7 billion-asset company said in a press release that its fourth-quarter earnings fell by 54.5% from a year earlier, to $13.4 billion.

Net interest income fell by 13.9%, to $73 million. The net interest margin compressed by 62 basis points, to 3.19%.

Origin sold $78.9 million of securities at a $4.6 million loss in a move designed to build liquidity and support loan growth.

Origin, which will temporarily park the cash in interest-bearing deposit accounts at other banks, said it could take one to two years to earn back the loss from the securities sales.

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