Old Second Bancorp, Inc. - Common Stock (OSBC)

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.

Old Second National Bank Completes Acquisition of Five Illinois Branches from First Merchants Bank

Old Second National Bank Acquires 5 Illinois Branches from First Merchants Bank

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.

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 / February 21, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQOSBC), today announced that it has promoted Nick O'Brien to Senior Vice President.

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.

AURORA, IL / ACCESSWIRE / January 24, 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 fourth quarter of 2023. Our net income was $18.2 million, or $0.40 per diluted share, for the fourth quarter of 2023, compared to net income of $24.3 million, or $0.54 per diluted share, for the third quarter of 2023, and net income of $23.6 million, or $0.52 per diluted share, for the fourth quarter of 2022. Adjusted net income, a non-GAAP financial measure that excludes nonrecurring litigation related expenses and Visa portfolio liquidation and deconversion costs, as applicable, was $19.1 million, or $0.42 per diluted share, for the fourth quarter of 2023, compared to $24.8 million, or $0.55 per diluted share, for the third quarter of 2023. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 17 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent. Noteworthy items impacting fourth quarter 2023 results include a $1.2 million litigation reserve related to prior years' overdraft fee compliance and $1.3 million in expense related to the fair value of mortgage servicing rights.

CHICAGO, IL / ACCESSWIRE / January 3, 2024 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $12 million in senior secured credit facilities to support Soundcore Capital Partners' formation of Door & Dock Holdings, LLC ("Door & Dock Holdings") through its investment into both Top Notch Dock & Door and Top Notch Garage Door (collectively "Top Notch") and Premier Overhead Doors ("Premier").

AURORA, IL / ACCESSWIRE / October 18, 2023 / 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 2023. Our net income was $24.3 million, or $0.54 per diluted share, for the third quarter of 2023, compared to net income of $25.6 million, or $0.56 per diluted share, for the second quarter of 2023, and net income of $19.5 million, or $0.43 per diluted share, for the third quarter of 2022. Adjusted net income, a non-GAAP financial measure that excludes Visa portfolio and land trust portfolio gains on sale, Visa portfolio liquidation and deconversion costs, and any merger-related costs, as applicable, was $24.8 million, or $0.55 per diluted share, for the third quarter of 2023, compared to $25.6 million, or $0.56 per diluted share, for the second quarter of 2023, and $19.6 million, or $0.43 per diluted share, for the third quarter of 2022. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 17 of the full earnings release found under the investor relations tab at oldsecond.com which provides a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

CHICAGO, IL / ACCESSWIRE / September 1, 2023 / Old Second National Bank welcomes the addition of Carl Anfenson as a Senior Vice President in our middle market Commercial Banking group. Having a career of over 30 years as a middle-market relationship banker, Carl has led banking teams serving and advising privately-owned businesses in and around Chicagoland most recently with MB Financial Bank and Huntington Bank.

CHICAGO, IL / ACCESSWIRE / August 8, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $25,000,000 in senior secured credit facilities to support Pike Street Capital's portfolio company PumpTech in its acquisitions of Alpha Southwest and Pipestone (together "PumpTech").

AURORA, IL / ACCESSWIRE / July 19, 2023 / 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 2023. Our net income was $25.6 million, or $0.56 per diluted share, for the second quarter of 2023, compared to net income of $23.6 million, or $0.52 per diluted share, for the first quarter of 2023, and net income of $12.2 million, or $0.27 per diluted share, for the second quarter of 2022. Adjusted net income, a non-GAAP financial measure that excludes net pre-tax losses totaling $29,000 from branch sales, was also $25.6 million, or $0.56 per diluted share, for the second quarter of 2023, compared to $23.4 million, or $0.52 per diluted share, for the first quarter of 2023, and $13.8 million, or $0.31 per diluted share, for the second quarter of 2022. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 16 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

CHICAGO, IL / ACCESSWIRE / June 22, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $24,581,000 in senior secured credit facilities to support Tilia Holding's recapitalization of Refrig-IT Inc. and its affiliate Trilogy Warehouse Partners (together "Refrig-IT").

CHICAGO, IL / ACCESSWIRE / May 4, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided senior secured credit facilities to support Graycliff Partners' growth investment in Republic Electric Company ("Republic").

AURORA, IL / ACCESSWIRE / April 19, 2023 / 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 2023. Our net income was $23.6 million, or $0.52 per diluted share, for the first quarter of 2023, compared to net income of $23.6 million, or $0.52 per diluted share, for the fourth quarter of 2022, and net income of $12.0 million, or $0.27 per diluted share, for the first quarter of 2022. Adjusted net income, a non-GAAP financial measure that excludes net pre-tax gains totaling $306,000 from branch sales, was $23.4 million, or $0.52 per diluted share, for the first quarter of 2023. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 16 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

CHICAGO, IL / ACCESSWIRE / April 13, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided senior secured credit facilities to support Hastings Equity Partners' acquisition of TERRA Staffing Group ("TERRA").