Old Second Bancorp, Inc. operates as the bank holding company for Old Second National Bank that provides a range of banking services. It provides demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. The company also offers commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking. Further, it provides safe deposit services; trust and wealth management services; and money orders, cashier's checks, foreign currency, direct deposits, discount brokerage, debit and credit cards, and other services, as well as acquires the U.S. treasury notes and bonds. In addition, the company offers online and mobile banking; corporate cash management products, including remote and mobile deposits capture, investment sweep accounts, zero balance accounts, automated tax payments, automatic teller machines access, telephone banking, lockbox accounts, automated clearing house transactions, account reconciliation, controlled disbursement, detail and general information reporting, foreign and domestic wire transfers, and vault services for currency and coin; and investment, agency, and custodial services for individual, corporate, and not-for-profit clients. It operates through 29 banking centers in Cook, DeKalb, DuPage, Kane, Kendall, LaSalle, and Will counties in Illinois. Old Second Bancorp, Inc. was incorporated in 1981 and is headquartered in Aurora, Illinois.
IPO Year:
Exchange: NASDAQ
Website: oldsecond.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/25/2024 | $19.00 → $17.00 | Buy → Neutral | DA Davidson |
| 9/17/2024 | $19.00 → $18.00 | Strong Buy → Outperform | Raymond James |
| 4/4/2024 | $17.00 | Outperform → Strong Buy | Raymond James |
| 4/5/2023 | $18.00 | Overweight | Stephens |
| 3/21/2022 | $22.00 | Neutral → Buy | DA Davidson |
| 1/28/2022 | $16.00 → $17.00 | Strong Buy | Raymond James |
| 10/22/2021 | $15.00 → $16.00 | Strong Buy | Raymond James |
| 7/23/2021 | $16.00 → $15.00 | Strong Buy | Raymond James |
AURORA, Ill., Aug. 25, 2021 /PRNewswire/ -- Old Second Bancorp, Inc. (the "Old Second ) (NASDAQ:OSBC), the holding company for Old Second National Bank (the "Bank"), announced today that it has increased the size of the Board of Directors to 14 members and appointed Dennis Klaeser to the Board, effective August 17, 2021. Mr. Klaeser was also appointed to the Board of Directors of the Bank. William Skoglund, Chairman of the Board of Old Second, commented: "I am pleased to welcome Dennis to our Board and look forward to working with him. Dennis offers considerable experience i
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On February 25, 2025, Old Second Bancorp, Inc. (NASDAQ:OSBC) ("Old Second" or "the company") (KBRA senior unsecured debt rating: BBB / Stable Outlook), the parent company of Old Second National Bank, announced a definitive merger agreement with privately-owned Bancorp Financial, Inc., the parent company of Evergreen Bank Group ("Evergreen"). Under the agreement, Bancorp Financial, Inc. would merge with and into OSBC in a stock-and-cash transaction (75% stock / 25% cash) valued at ~$200 million or 1.3x P/TBV at deal announcement (based on OSBC's closing stock price on February 24, 2025). The acquisition is expected to close in 3Q25, subject to customary regulatory approvals, with minimal cha
AURORA, IL / ACCESS Newswire / January 22, 2025 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 dilu
Old Second National Bank Completes Acquisition of Five Illinois Branches from First Merchants Bank CHICAGO, IL / ACCESSWIRE / December 6, 2024 / Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), announced today that Old Second has completed its previously announced purchase of five Illinois branch locations in the Southeast Chicago MSA from First Merchants Bank ("First Merchants"). The closing of the transaction became effective after the close of business on December 6, 2024, and the five branches of First Merchants purchased will open as branches of Old Second on Monday, December 9, 2024.Under the terms of the purc
AURORA, IL / ACCESSWIRE / October 16, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 sha
Old Second National Bank Acquires 5 Illinois Branches from First Merchants BankProposed Acquisition to Add $304 Million in Deposits and $12 million in loans CHICAGO, IL / ACCESSWIRE / August 27, 2024 / Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), and First Merchants Corporation ("First Merchants Corp.") (NASDAQ:FRME), the parent company of First Merchants Bank ("First Merchants"), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as well as certain branch related
Old Second National Bank Acquires 5 Illinois Branches from First Merchants Bank_____________ Proposed Acquisition to Add $304 Million in Deposits and $12 million in loans_____________ CHICAGO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), and First Merchants Corporation ("First Merchants Corp.") (NASDAQ:FRME), the parent company of First Merchants Bank ("First Merchants"), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as w
AURORA, IL / ACCESSWIRE / July 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 shar
CHICAGO, IL / ACCESSWIRE / July 9, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), today announced that it provided senior secured credit facilities to support Encore Consumer Capital ("Encore") in its acquisition of Chalet Desserts ("Chalet").Based in Sacramento, CA, Chalet is a specialty manufacturer of frozen bakery desserts and baked good inclusions that are sold into the in-store bakery at supermarkets and convenience stores as well as foodservice and ingredient end-markets."We are excited to support Encore Consumer Capital's acquisition of Chalet. Chalet is a category leader with extensive manufacturing capabilities and an impressive management team. We
CHICAGO, IL / ACCESSWIRE / June 17, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), today announced that it has recently hired Sean Maher as Vice President, Underwriting. "We are excited to announce that Sean Maher has been recently hired as Vice President of O2 Sponsor Finance. Sean brings great underwriting experience to our team and he will be helpful in driving our continued growth. Since we started O2 Sponsor Finance almost two and half years ago, we have been growing our portfolio substantially and our focus has always been on taking care of our clients and growing our team as necessary always with the high-quality people available. Sean complements our
AURORA, IL / ACCESSWIRE / April 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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
AURORA, IL / ACCESS Newswire / January 22, 2025 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 dilu
AURORA, IL / ACCESSWIRE / October 16, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 sha
Old Second National Bank Acquires 5 Illinois Branches from First Merchants BankProposed Acquisition to Add $304 Million in Deposits and $12 million in loans CHICAGO, IL / ACCESSWIRE / August 27, 2024 / Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), and First Merchants Corporation ("First Merchants Corp.") (NASDAQ:FRME), the parent company of First Merchants Bank ("First Merchants"), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as well as certain branch related
Old Second National Bank Acquires 5 Illinois Branches from First Merchants Bank_____________ Proposed Acquisition to Add $304 Million in Deposits and $12 million in loans_____________ CHICAGO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), and First Merchants Corporation ("First Merchants Corp.") (NASDAQ:FRME), the parent company of First Merchants Bank ("First Merchants"), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as w
AURORA, IL / ACCESSWIRE / July 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 shar
AURORA, IL / ACCESSWIRE / April 17, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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
AURORA, IL / ACCESSWIRE / January 24, 2024 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 deconver
AURORA, IL / ACCESSWIRE / October 18, 2023 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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
AURORA, IL / ACCESSWIRE / July 19, 2023 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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
AURORA, IL / ACCESSWIRE / April 19, 2023 / Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ:OSBC), 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 d
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DA Davidson downgraded Old Second Bancorp Inc. from Buy to Neutral and set a new price target of $17.00 from $19.00 previously
Raymond James downgraded Old Second Bancorp Inc. from Strong Buy to Outperform and set a new price target of $18.00 from $19.00 previously
Raymond James upgraded Old Second Bancorp Inc. from Outperform to Strong Buy and set a new price target of $17.00
Stephens initiated coverage of Old Second Bancorp Inc. with a rating of Overweight and set a new price target of $18.00
DA Davidson upgraded Old Second Bancorp Inc. from Neutral to Buy and set a new price target of $22.00
Raymond James reiterated coverage of Old Second Bancorp with a rating of Strong Buy and set a new price target of $17.00 from $16.00 previously
Raymond James reiterated coverage of Old Second Bancorp with a rating of Strong Buy and set a new price target of $16.00 from $15.00 previously
Raymond James reiterated coverage of Old Second Bancorp with a rating of Strong Buy and set a new price target of $15.00 from $16.00 previously
Raymond James reiterated coverage of Old Second Bancorp with a rating of Strong Buy and set a new price target of $16.00 from $13.00 previously
Raymond James reiterated coverage of Old Second Bancorp with a rating of Outperform and set a new price target of $16.00 from $13.00 previously