Old Second Bancorp is a financial institution that offers a wide range of banking services primarily in the Illinois region, focusing on providing personalized banking solutions to individuals, small businesses, and commercial clients
The company operates multiple branch offices that facilitate traditional banking services such as checking and savings accounts, loans, and mortgages. Additionally, Old Second Bancorp emphasizes community engagement and strives to build strong relationships with its customers by offering tailored financial advice and support in order to meet their specific needs and foster economic growth within the communities it serves.
CHICAGO, IL / ACCESS Newswire / February 27, 2025 / O2 Sponsor Finance, a division of Old Second National Bank, capped off a busy 2024 with new financing activity. O2 Sponsor Finance provided senior secured credit facilities to support Fort Point Capital in its acquisition of NewBold Corporation ("NewBold").
CHICAGO, IL / ACCESS Newswire / February 20, 2025 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQOSBC), today announced that it provided senior secured credit facilities to support Mangrove Equity Partners ("Mangrove") in its acquisition of A&R Sealcoating LLC ("A&R"), a Southeast Michigan-based leading provider of pavement repair and maintenance solutions.
AURORA, IL / ACCESS Newswire / January 22, 2025 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQOSBC), the parent company of Old Second National Bank (the "Bank"), today announced financial results for the fourth quarter of 2024. Our net income was $19.1 million, or $0.42 per diluted share, for the fourth quarter of 2024, compared to net income of $23.0 million, or $0.50 per diluted share, for the third quarter of 2024, and net income of $18.2 million, or $0.40 per diluted share, for the fourth quarter of 2023. Adjusted net income, a non-GAAP financial measure that excludes certain nonrecurring items, as applicable, was $20.3 million, or $0.44 per diluted share, for the fourth quarter of 2024, compared to $23.3 million, or $0.51 per diluted share, for the third quarter of 2024, and $19.1 million, or $0.42 per diluted share, for the fourth quarter of 2023. The adjusting item impacting the fourth quarter of 2024 included $1.5 million of transaction-related expenses due to the early December 2024 purchase of five branches from First Merchants Bank ("FRME"). The adjusting items impacting the third quarter of 2024 included $471,000 of FRME transaction-related expenses; the adjusting items impacting the fourth quarter of 2023 results included $1.2 million of nonrecurring litigation expense. See the discussion entitled "Non-GAAP Presentations" below and in the full release found at www.oldsecond.com, under the investor relations tab; the tables beginning on page 17 provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
AURORA, IL / ACCESSWIRE / October 16, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQOSBC), the parent company of Old Second National Bank (the "Bank"), today announced financial results for the third quarter of 2024. Our net income was $23.0 million, or $0.50 per diluted share, for the third quarter of 2024, compared to net income of $21.9 million, or $0.48 per diluted share, for the second quarter of 2024, and net income of $24.3 million, or $0.54 per diluted share, for the third quarter of 2023. Adjusted net income, a non-GAAP financial measure that excludes certain nonrecurring items, as applicable, was $23.3 million, or $0.51 per diluted share, for the third quarter of 2024, compared to $21.0 million, or $0.46 per diluted share, for the second quarter of 2024, and $24.8 million, or $0.55 per share, for the third quarter of 2023. Adjusting items impacting the third quarter of 2024 included $471,000 of transaction-related expenses due to the pending purchase of five branches from First Merchants Bank ("FRME"), which is expected to close near year-end 2024. The adjusting item impacting the second quarter of 2024 was an $893,000 death benefit related to BOLI; the adjusting item impacting the third quarter of 2023 results included $629,000 of deconversion and liquidation costs from the 2022 sale of our Visa credit card portfolio. See the discussion entitled "Non-GAAP Presentations" below and in the tables in the full earnings release found at www.oldsecond.com, under the investor relations tab, that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
AURORA, IL / ACCESSWIRE / July 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQOSBC), the parent company of Old Second National Bank (the "Bank"), today announced financial results for the second quarter of 2024. Our net income was $21.9 million, or $0.48 per diluted share, for the second quarter of 2024, compared to net income of $21.3 million, or $0.47 per diluted share, for the first quarter of 2024, and net income of $25.6 million, or $0.56 per diluted share, for the second quarter of 2023. Adjusted net income, a non-GAAP financial measure that excludes certain nonrecurring items, as applicable, was $21.0 million, or $0.46 per diluted share, for the second quarter of 2024, compared to $21.3 million, or $0.47 per diluted share, for the first quarter of 2024, and $25.6 million, or $0.56 per share, for the second quarter of 2023. The adjusting item impacting the second quarter of 2024 was an $893,000 death benefit related to BOLI; the adjusting item impacting the second quarter of 2023 results included $29,000 of pre-tax losses from branch sales. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 17 of the full earnings release that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent. The full earnings release can be found at www.oldsecond.com, under the investor relations tab.
CHICAGO, IL / ACCESSWIRE / July 9, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQOSBC), today announced that it provided senior secured credit facilities to support Encore Consumer Capital ("Encore") in its acquisition of Chalet Desserts ("Chalet").
CHICAGO, IL / ACCESSWIRE / June 17, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQOSBC), today announced that it has recently hired Sean Maher as Vice President, Underwriting.
AURORA, IL / ACCESSWIRE / March 7, 2024 / Old Second National Bank welcomes the addition of Mike Daniele as Senior Vice President in the Commercial Banking group. Having a career of over 20 years as a relationship banker, Daniele has served and advised privately-owned businesses in and around Chicagoland.
Companies Reporting Before The Bell • ASML Holding (NASDAQASML) is projected to report quarterly earnings at $3.43 per share on revenue of $6.13 billion.
AURORA, IL / ACCESSWIRE / April 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQOSBC), the parent company of Old Second National Bank (the "Bank"), today announced financial results for the first quarter of 2024. Our net income was $21.3 million, or $0.47 per diluted share, for the first quarter of 2024, compared to net income of $18.2 million, or $0.40 per diluted share, for the fourth quarter of 2023, and net income of $23.6 million, or $0.52 per diluted share, for the first quarter of 2023. Adjusted net income, a non-GAAP financial measure that excludes certain nonrecurring items, as applicable, was $21.3 million, or $0.47 per diluted share, for the first quarter of 2024, compared to $19.1 million, or $0.42 per diluted share, for the fourth quarter of 2023, and $23.4 million, or $0.52 per share, for the first quarter of 2023. There were no adjusting items impacting the first quarter of 2024; significant adjusting items impacting the fourth quarter of 2023 results included a $1.2 million litigation reserve related to prior years' overdraft fee compliance. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 17 of the full earnings release that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
CHICAGO, IL / ACCESSWIRE / April 15, 2024 / O2 Sponsor Finance, a division of Old Second National Bank, announced that it provided senior secured credit facilities to support their client Catalina Finer Food, LLC ("Catalina") in their acquisition of Saugatuck Kitchens, LLC in partnership with shareholders Midwest Growth Partners, Promise Holdings, Gemini Investors, Farragut Capital Partners, Lake Country Capital, SharpVue Capital, and Spring Capital ("the Sponsors").
CHICAGO, IL / ACCESSWIRE / March 20, 2024 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided senior secured credit facilities to support Corridor Capital in its acquisition of Association Headquarters, LLC ("Association HQ").
AURORA, IL / ACCESSWIRE / March 7, 2024 / Old Second National Bank (NASDAQOSBC) welcomes the addition of Steve Rankins as a Senior Vice President/Senior Managing Director in our Commercial Banking Group. Having over 30 years in commercial banking as a relationship banker, manager and leader, Steve has led banking teams serving and advising privately owned businesses in and around Chicagoland, most recently with Fifth Third Bank and First Midwest Bank.
