Origin Bank has helped deliver more than $550 million to 2,000-plus businesses in Texas, Louisiana and Mississippi through the U.S. Small Business Administration’s Paycheck Protection Program. This represents approximately 60,000 employees of Origin Bank customers who have been positively impacted through the program.
“We know that small businesses are the engine of our economy and so many have tremendous needs during the COVID-19 pandemic,” said Drake Mills, Origin Bancorp chairman, president and CEO. “Origin has a long history of supporting our customers and communities through good times and challenging times, and I am proud of all of our bankers who have worked to support so many.”
The Paycheck Protection Program was part of the Coronavirus Aid, Relief and Economic Security Act (CARES) and was designed to provide small businesses with funds to pay up to eight weeks of payroll costs including benefits.
“These PPP loans are going to help thousands of our customers and their employees throughout our markets,” said Lance Hall, Origin Bank president and CEO. “Seventy-seven percent of the PPP loans that we originated were $150,000 or less, with a median loan size of approximately $42,000. Origin has helped deliver much needed relief to the small businesses in our markets. Our bankers worked around the clock, including nights and weekends, and exemplify the values that have been the foundation of our company.”
“From across our markets, I have heard people share with us that this program ‘saved the jobs and livelihoods of numerous families today,’” Mills said. “I am extremely pleased that Origin Bank was able to play a role in helping small businesses during this crisis. As we move forward, Origin will continue to stand by our customers and communities and get through these times together.”