$OSBC

OLD SECOND BANCORP INC

CIK:0000357173|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income
Loans, including fees	$ 89,845	$ 61,954	$ 176,983	$ 123,549
Loans held-for-sale	62	39	105	61
Securities:
Taxable	9,088	9,959	18,037	19,186
Tax exempt	1,132	1,229	2,287	2,489
Dividends from FHLBC and FRBC stock	535	273	1,047	746
Interest bearing deposits with financial institutions	527	1,784	1,076	2,772
Total interest and dividend income	101,189	75,238	199,535	148,803
Interest expense
Savings, NOW, and money market deposits	7,512	5,606	14,659	10,519
Time deposits	6,199	4,508	13,416	9,337
Securities sold under repurchase agreements	40	56	90	124
Other short-term borrowings	2,989		4,780	17
Junior subordinated debentures	289	288	585	576
Subordinated debentures	675	546	1,221	1,092
Notes payable and other borrowings	156		311
Total interest expense	17,860	11,004	35,062	21,665
Net interest and dividend income	83,329	64,234	164,473	127,138
Provision for credit losses	7,500	2,500	17,000	4,900
Net interest and dividend income after provision for credit losses	75,829	61,734	147,473	122,238
Noninterest income
Mortgage servicing rights mark to market loss	(152)	(531)	(304)	(1,101)
Net gain on sales of mortgage loans	640	550	1,195	1,014
Change in cash surrender value of BOLI	1,469	690	2,551	1,188
Card related income	2,483	2,533	4,833	4,774
Other income	1,488	937	3,152	1,887
Total noninterest income	13,261	10,898	25,891	21,099
Noninterest expense
Salaries and employee benefits	30,103	26,950	59,776	53,943
Occupancy, furniture and equipment	5,118	4,477	10,489	9,025
Computer and data processing	3,217	2,692	6,592	5,040
FDIC insurance	759	642	1,518	1,270
Net teller & bill paying	724	670	1,440	1,328
General bank insurance	351	328	704	658
Amortization of core deposit intangible	1,167	1,022	2,343	2,059
Advertising and marketing expense	483	454	1,034	683
Card related expense	1,604	1,489	3,123	2,869
Professional fees	1,160	1,158	2,459	2,253
Consumer credit expense	1,720	15	3,242	40
Other real estate expense, net	52	35	(134)	1,908
Other expense	4,794	3,487	8,876	6,848
Total noninterest expense	51,252	43,419	101,462	87,924
Income before income taxes	37,838	29,213	71,902	55,413
Provision for income taxes	9,659	7,391	18,138	13,761
Net income	$ 28,179	$ 21,822	$ 53,764	$ 41,652
Basic earnings per share	$ 0.55	$ 0.49	$ 1.04	$ 0.93
Diluted earnings per share	0.54	0.48	1.02	0.91
Dividends declared per share	$ 0.07	$ 0.06	$ 0.14	$ 0.12
Wealth management
Noninterest income
Service charges on deposits	$ 3,628	$ 3,103	$ 7,011	$ 6,192
Service charges on deposits
Noninterest income
Service charges on deposits	3,075	3,060	6,205	6,036
Secondary mortgage fees
Noninterest income
Service charges on deposits	166	84	287	157
Mortgage servicing income
Noninterest income
Service charges on deposits	$ 464	$ 472	$ 961	$ 952

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 53,764	$ 41,652
Adjustments to reconcile net income to net cash provided by operating activities:
Net premium / discount amortization on securities	874	916
Provision for credit losses	17,000	4,900
Originations of loans held-for-sale	(53,108)	(36,371)
Proceeds from sales of loans held-for-sale	54,925	35,369
Net gains on sales of mortgage loans	(1,195)	(1,014)
Mortgage servicing rights mark to market loss	304	1,101
Net accretion of purchase accounting adjustments and other discounts on loans	(453)	(508)
Net change in cash surrender value of BOLI	(2,551)	(1,188)
Net (gains) losses on sale of other real estate owned	(98)	160
Provision for other real estate owned valuation losses	10	611
Depreciation of fixed assets and amortization of leasehold improvements	3,432	2,843
Change in operating lease right-of-use asset	(1,028)	524
Amortization of core deposit intangibles	2,343	2,059
Change in current income taxes	(9,744)	(2,695)
Deferred tax expense	3,800	6,224
Change in accrued interest receivable and other assets	5,674	(648)
Accretion of purchase accounting adjustment on time deposits	(49)	(367)
Change in accrued interest payable and other liabilities	(12,437)	(13,135)
Change in operating lease payable	1,209	(881)
Stock based compensation	2,852	2,531
Net cash provided by operating activities	65,524	42,083
Cash flows from investing activities
Proceeds from maturities and calls, including pay down of securities available-for-sale	160,366	159,559
Proceeds from sales of securities available-for-sale	0	0
Purchases of securities available-for-sale	(116,027)	(162,517)
Net (purchases) redemptions of FHLBC/FRBC stock	(8,100)	354
Net change in loans	(12,839)	(27,341)
Purchases of BOLI policies	(461)	(460)
Proceeds from sales of other real estate owned, net of participations	1,525	19,349
Proceeds from disposition of premises and equipment	76
Net purchases of premises and equipment	(1,436)	(2,398)
Cash received from acquisition, net		28
Net cash provided by (used in) investing activities	23,104	(13,426)
Cash flows from financing activities
Net change in deposits	(151,332)	30,075
Net change in securities sold under repurchase agreements	(528)	10,595
Net change in other short-term borrowings	160,000	(20,000)
Redemption of subordinated debentures	(30,000)
Vesting of restricted stock, net of excise taxes	51
Dividends paid on common stock	(7,304)	(5,397)
Purchase of treasury stock	(40,207)	(1,492)
Net cash (used in) provided by financing activities	(69,320)	13,781
Net change in cash and cash equivalents	19,308	42,438
Cash and cash equivalents at beginning of period	124,025	99,329
Cash and cash equivalents at end of period	$ 143,333	$ 141,767

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 47,964	$ 51,665
Interest earning deposits with financial institutions	95,369	72,360
Cash and cash equivalents	143,333	124,025
Securities available-for-sale, at fair value	1,040,760	1,090,523
Federal Home Loan Bank of Chicago ("FHLBC") and Federal Reserve Bank of Chicago ("FRBC") stock	40,125	32,025
Loans held-for-sale	2,349	3,645
Loans	5,245,870	5,252,131
Less: allowance for credit losses on loans	70,380	72,301
Net loans	5,175,490	5,179,830
Premises and equipment, net	84,505	86,645
Other real estate owned, net	622	1,427
Mortgage servicing rights, at fair value	9,825	9,459
Goodwill	129,196	129,196
Core deposit intangible ("CDI")	21,349	23,692
Bank-owned life insurance ("BOLI")	133,493	130,481
Deferred tax assets, net	28,689	31,276
Other assets	60,569	60,451
Total assets	6,870,305	6,902,675
Deposits:
Noninterest bearing demand	1,746,755	1,739,117
Interest bearing:
Savings, NOW, and money market	2,771,532	2,745,540
Time	926,401	1,111,412
Total deposits	5,444,688	5,596,069
Securities sold under repurchase agreements	23,241	23,769
Other short-term borrowings	375,000	215,000
Junior subordinated debentures	25,774	25,774
Subordinated debentures	29,798	59,552
Notes payable and other borrowings	14,850	14,825
Other liabilities	54,143	70,918
Total liabilities	5,967,494	6,005,907
Stockholders' Equity
Common stock	53,015	53,015
Additional paid-in capital	339,616	341,451
Retained earnings	583,701	537,231
Accumulated other comprehensive loss, net	(31,861)	(28,738)
Treasury stock	(41,660)	(6,191)
Total stockholders' equity	902,811	896,768
Total liabilities and stockholders' equity	$ 6,870,305	$ 6,902,675