Origin Bancorp fully redeems SBLF preferreds via common stock IPO

By Tali Rackner

Minneapolis, June 11 – Origin Bancorp, Inc. redeemed all 48,260 shares of its series SBLF senior noncumulative perpetual preferred stock on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The total redemption price, including accrued dividends, was $49,068,355.

The redemption was funded using surplus capital, which included the proceeds from the company’s recently completed initial public offering that closed on May 10.

Also on Friday, Origin converted all 901,644 outstanding shares of its series D preferred stock into shares of its common stock on a one-for-one basis. As a result, no shares of series D preferred stock are outstanding.

The financial holding company is based in Ruston, La.

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