--- title: "Tricolor Holdings — Origin Bank and Tricolor: lending, Chu’s board seat and annual losses" language: en canonical: https://dossiertwist.com/dossiers/tricolor-holdings/origin-bank-relationship/ as_of: 2026-10-13 keywords: ["Tricolor Holdings","auto loans","securitization","warehouse financing","Daniel Chu","Chapter 7","TAST","Origin Bank","Vervent"] --- # Tricolor Holdings — Origin Bank and Tricolor: lending, Chu’s board seat and annual losses **Question.** What does Origin’s disclosure establish about the credit relationship? **Answer.** Origin disclosed Tricolor credit exposure and substantial accounting losses. Chu’s board position ended in September 2025; the overlap does not by itself show improper approval or fraud, and the bank continues to pursue recoveries. ## Origin’s lending, Chu’s board position and annual loss disclosure - Analysis: Chu joined Origin Bancorp’s board in April 2022 and also served on the board of Origin Bank. He resigned from both effective 7 September 2025. The 2024 proxy describes his committee membership, $86,025 of 2023 director compensation and 2,469 shares as of February 2024, less than 1%. It also records attendance below 75% of relevant meetings. Origin disclosed approximately $30.1 million of credit commitments to Tricolor secured mainly by notes receivable, transferred the relationship to nonaccrual after bankruptcy and later reported substantial credit losses. [s-d5] [s-d18] [s-d19] [s-d32] [s-d73] [s-d118] [s-d135] [s-d324] - Qualification: Origin’s aggregate loans to directors and related parties cannot be used to identify Tricolor’s exact inclusion without a specific disclosure. Chu’s board role and the bank’s lending coexist, but do not themselves establish an improper approval or fraud by the bank. A separately reported personal mortgage is not the same loan as Tricolor’s corporate credit line. - Response: Origin said it was pursuing available recoveries. A charge-off recognizes an accounting loss; it does not establish that future recoveries are impossible. - Outcome: Origin’s later annual disclosure reports $29.5 million of 2025 net charge-offs connected with Tricolor and approximately $29.6 million of provision, comprising $29.3 million for loans and $338,000 for off-balance-sheet commitments. It reports a $0.77 adverse effect on diluted EPS. These annual figures supersede the narrower third-quarter $28.4 million net charge-off for the year’s total. ## Sources - [s-d5] Company statement concerning Tricolor or the identified participant, U.S. Securities and Exchange Commission - [s-d18] Company statement concerning Tricolor or the identified participant, U.S. Securities and Exchange Commission - [s-d19] Company statement concerning Tricolor or the identified participant, U.S. Securities and Exchange Commission - [s-d32] Regulatory record concerning Tricolor or the identified participant, U.S. Department of Justice - [s-d73] Company statement source · s-d73 - [s-d118] Company statement concerning Tricolor or the identified participant, U.S. Securities and Exchange Commission - [s-d135] Media source · s-d135 - [s-d324] Company statement concerning Tricolor or the identified participant, U.S. Securities and Exchange Commission