Origin Bancorp, a Louisiana bank with 41 branches and $4.2 billion in assets, announced terms for its IPO on Friday.
The Ruston, LA-based company plans to raise $124 million by offering 3.6 million shares (31% insider) at a price range of $33 to $35. At the midpoint of the proposed range, Origin Bancorp would command a fully diluted market value of $756 million.
Origin Bancorp was founded in 1912 and booked $159 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol OBNK. Stephens Inc. and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of May 7, 2018.
