Cook the bacon in a large Dutch oven over medium heat until lightly browned and the fat has rendered, about 7 minutes.
Add the onion, bell pepper, and celery and cook, stirring frequently, until softened, about 8 minutes.
Stir in the garlic and cook until fragrant, about 30 seconds.
Add 1 teaspoon pepper, oregano, thyme, cayenne, bay leaves, 1/2 teaspoon salt, beans, broth, and water; bring to a boil over high heat.
Decrease heat to maintain a vigorous simmer (the mixture will be steaming and several bubbles should be breaking the surface) and cook, uncovered, stirring occasionally, until the beans are soft and the liquid thickens, 2 to 2 1/2 hours.
Stir in the sausage and cook until the liquid is thick and creamy, about 30 minutes.
Remove and discard the bay leaves and season with salt and pepper to taste.
Serve over hot cooked rice with hot sauce, if desired.