KBRA Assigns Senior Unsecured Debt Rating of BBB for Origin Bancorp, Inc.
Origin Bancorp, Inc. (OBNK)
Last origin bancorp, inc. earnings: 4/22 04:30 pm
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 for Ruston, Louisiana based Origin Bancorp, Inc. (NASDAQ: OBNK) (“Origin”, or “the Company”). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for its subsidiary, Origin Bank. The Outlook for all long-term ratings is Stable. The ratings are supported by Origin’s improved operating performance for 2018 with ROA near 1.2%. Also supporting the ratings are OBNK’s deposit composition, which includes a favorable level of noninterest-bearing deposits – resulting in relatively stable funding costs and allowing for NIM expansion (3.8%) in recent years. The ratings also reflect the Company’s strong capital position following its IPO. However
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