Origin Bancorp, Inc. Announces Election of One New Board Member

Rhea-AI Summary

Origin Bancorp, Inc. (Nasdaq: OBNK) announced the election of Daniel Chu as a new director during its annual stockholder meeting on April 27, 2022. Chu, the founder and CEO of Tricolor Holdings, has over 25 years of experience in auto finance and a proven track record in financial services. His entrepreneurial background and commitment to community engagement are expected to enhance Origin's growth. The company, headquartered in Ruston, Louisiana, operates 45 banking centers across Texas and Louisiana, focusing on personalized banking services.

Positive

• Daniel Chu's election is expected to bring a fresh perspective and entrepreneurial mindset to the board.
• Chu's experience in financial services may enhance Origin's growth strategy.

Negative

• Concerns about continuity due to the addition of a new director.
• Potential experience gaps in specific banking sectors with the new board composition.

RUSTON, La., May 02, 2022 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (Nasdaq: OBNK) (“Origin” or the “Company”), the financial holding company for Origin Bank, today announced that stockholders have elected Daniel Chu as a new director at the Company’s annual meeting of stockholders on April 27, 2022.

“We are very pleased to welcome Daniel to our board of directors,” said Drake Mills, Origin Bancorp, Inc. chairman, president and CEO. “His entrepreneurial mindset and vast experience will be tremendous resources as we continue to grow the company and provide value to our employees, customers, communities and shareholders.”

Mr. Chu, founder and CEO of Tricolor Holdings, has more than 25 years of experience in the auto finance industry where he brings an unprecedented track record in financial services. A U.S. Treasury-certified Community Development Financial Institution (CDFI), Tricolor is a mission-driven company utilizing technology to advance financial inclusion to a highly underserved Hispanic consumer. Previously, Chu has distinguished himself as a successful serial entrepreneur, having founded six companies over the past thirty years. Prior to his current role, he founded two other firms in the auto financial services industry, which subsequently became publicly traded. He has served in the capacity of CEO with seven different companies.

“My own twenty-five-year span as an entrepreneur has illuminated on how culture, more than any other factor, drives sustainable growth and success,” said Chu. “The culture at Origin Bank—engaging genuinely with clients and partnering with the community broadly to understand their challenges and thoughtfully create solutions—is rare and distinct, positioning it uniquely for value creation, and I’ve experienced it firsthand. I’m honored to join their mission.”

Chu earned his Bachelor of Science in Electrical Engineering from Washington University in St. Louis. He also holds a Master of Science in Athletic Administration from the University of Miami. Chu graduated from the St. Mark’s School of Texas. Following graduation from college, Chu coached basketball at the intercollegiate level for seven years.

About Origin Bancorp, Inc.

Origin is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly-owned bank subsidiary, Origin Bank, was founded in 1912. Deeply rooted in Origin’s history is a culture committed to providing personalized, relationship banking to its clients and communities. Origin provides a broad range of financial services to businesses, municipalities, high net-worth individuals and retail clients. Origin currently operates 45 banking centers located from Dallas/Fort Worth and Houston, Texas, across North Louisiana and into Mississippi. For more information, visit www.origin.bank.

Contact:        

Media: Ryan Kilpatrick, Origin Bank; (318) 232-7472; rkilpatrick@origin.bank

Investor Relations: Chris Reigelman, Origin Bank; (318) 497-3177; chris@origin.bank

FAQ

Who is the new director elected by Origin Bancorp, Inc.?

Daniel Chu was elected as a new director at Origin Bancorp, Inc. on April 27, 2022.

What experience does Daniel Chu bring to Origin Bancorp?

Chu has over 25 years of experience in the auto finance industry and is a successful entrepreneur.

When was Daniel Chu elected to the board of Origin Bancorp?

Daniel Chu was elected during the annual meeting of stockholders on April 27, 2022.

What is the potential impact of Daniel Chu's election on Origin Bancorp?

Chu's election could bring a new perspective and enhance the company's growth strategy.

What are the main services provided by Origin Bank?

Origin Bank provides a broad range of financial services to businesses, municipalities, and retail clients.