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Origin Bancorp looking to increase number of authorized preferred stock


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Origin Bancorp looking to increase number of authorized preferred stock

Ruston, La.-based OriginBancorp Inc. is looking to increase the number of its authorizedpreferred shares to 2 million from 1 million, according to an April 1 proxyfiling.

The company's board is recommending that shareholdersapprove the proposal for the preferred share increase, as well as two otherproposals.

One proposal provides that a director may rely on certaininformation, opinions, reports or statements prepared or presented by officers,employees, counsel, public accountants, committees, and other persons, undercertain circumstances, and that a director who so performed his or her dutiesdoes not have liability to the corporation by reason of being or having been adirector.

The other proposal seeks to amend the company's articles ofincorporation to establish that one or more shareholders must hold at least 25%of voting shares to call a special meeting of shareholders. The currentthreshold stands at 10%.

The proposals will be voted upon during the company's annualshareholder meeting April 27.