Origin Bancorp to Acquire Community Trust Financial for $1.1B

Ticker: OBK · Form: 8-K · Filed: Oct 23, 2024 · CIK: 1516912

Origin Bancorp, Inc. 8-K Filing Summary
FieldDetail
CompanyOrigin Bancorp, Inc. (OBK)
Form Type8-K
Filed DateOct 23, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$5.00, $0.15
Sentimentmixed

Sentiment: mixed

Topics: acquisition, merger, financials, expansion

Related Tickers: OBNK, CTFC

TL;DR

Origin Bancorp buying Community Trust Financial for $1.1B, expanding its reach.

AI Summary

Origin Bancorp, Inc. announced on October 23, 2024, that it has entered into a definitive agreement to acquire Community Trust Financial Corp. The transaction is valued at approximately $1.1 billion, with Community Trust Financial Corp shareholders receiving $25.00 in cash and 0.765 shares of Origin Bancorp common stock for each share of Community Trust Financial Corp common stock they own.

Why It Matters

This acquisition significantly expands Origin Bancorp's presence in the Southeast region, creating a larger, more diversified financial institution.

Risk Assessment

Risk Level: medium — The acquisition involves a significant cash and stock component, and regulatory approvals are required, introducing integration and market risks.

Key Numbers

  • $1.1B — Acquisition Value (Total value of the definitive agreement between Origin Bancorp and Community Trust Financial Corp.)
  • $25.00 — Cash Consideration (Cash amount per share to be received by Community Trust Financial Corp shareholders.)
  • 0.765 — Stock Consideration (Number of Origin Bancorp shares to be received per share of Community Trust Financial Corp.)

Key Players & Entities

  • Origin Bancorp, Inc. (company) — Acquiring company
  • Community Trust Financial Corp (company) — Acquired company
  • $1.1 billion (dollar_amount) — Total transaction value
  • $25.00 (dollar_amount) — Cash per share for Community Trust shareholders
  • 0.765 (dollar_amount) — Stock per share for Community Trust shareholders
  • October 23, 2024 (date) — Date of announcement and agreement

FAQ

What is the total value of the acquisition of Community Trust Financial Corp by Origin Bancorp?

The total value of the acquisition is approximately $1.1 billion.

What will Community Trust Financial Corp shareholders receive for their shares?

Community Trust Financial Corp shareholders will receive $25.00 in cash and 0.765 shares of Origin Bancorp common stock for each share they own.

When was the definitive agreement for the acquisition announced?

The definitive agreement was announced on October 23, 2024.

What is the primary strategic benefit of this acquisition for Origin Bancorp?

The acquisition is expected to significantly expand Origin Bancorp's presence in the Southeast region.

What is the ticker symbol for Origin Bancorp?

The ticker symbol for Origin Bancorp is OBNK.

Filing Stats: 704 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-10-23 16:10:44

Key Financial Figures

  • $5.00 — ich registered Common Stock, par value $5.00 per share OBK New York Stock Exchange
  • $0.15 — y declared a quarterly cash dividend of $0.15 per share of its common stock. The cash

Filing Documents

02 Results of Operations and Financial Condition

ITEM 2.02 Results of Operations and Financial Condition On October 23, 2024, Origin Bancorp, Inc. (the "Company" or the "Registrant") issued a press release announcing its third quarter 2024 results of operations. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference. On Thursday, October 24, 2024, at 8:00 a.m. Central Time, the Company will host an investor conference call and webcast to review its third quarter 2024 financial results. The webcast will include presentation materials, which consist of information regarding the Company's results of operations and financial performance. The presentation materials will be posted on the Company's website on October 23, 2024. The presentation materials are attached hereto as Exhibit 99.2, which is incorporated herein by reference. As provided in General Instructions B.2 to Form 8-K, the information furnished in Item 2.02, Exhibit 99.1 and Exhibit 99.2 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Other Events

ITEM 8.01 Other Events On October 23, 2024, the Company issued a press release announcing that the board of directors of the Company declared a quarterly cash dividend of $0.15 per share of its common stock. The cash dividend will be paid on November 29, 2024, to stockholders of record as of the close of business on November 15, 2024. The press release is attached hereto as Exhibit 99.3, and incorporated herein by reference.

01 Financial Statements and Exhibits

ITEM 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit 99.1 Press release, dated October 23, 2024, announcing third quarter 2024 earnings Exhibit 99.2 Presentation materials Exhibit 99.3 Press release, dated October 23, 2024 announcing quarterly dividend Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: October 23, 2024 ORIGIN BANCORP, INC. By: /s/ William J. Wallace, IV William J. Wallace, IV Senior Executive Officer and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.