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Noticias de OSBC
Eventos de OSBC
Old Second Reports Q3 NII of $84.05M
Reports Q3 NII $84.05M, consensus $84.76M. Q3 net interest margin on a fully tax-equivalent basis improved four basis points, to 5.27%, from 5.23% last quarter and 5.05% last year. Tangible book value per share was $14.75 from $14.77 last quarter. CEO Jim Eccher said, "Old Second reported strong results in Q3 led by robust margin performance and disciplined operating efficiency. Loan losses remained higher than we wanted this quarter due to one previously identified commercial relationship, but the trends are extremely encouraging with nonperforming and classified loans declining by 30% and 44%, respectively...This level of performance and a strong capital position afforded Old Second the opportunity to repurchase 1.5 million common shares this quarter, or approximately 3% of all outstanding shares...Old Second elected in this Q4 to increase the common dividend by 14%, as we continue to regularly deliver dividend growth commensurate with the bank's performance. We are proud of our performance for the quarter, believe we have turned the corner on credit and look forward to delivering solid results to our stockholders for the remainder of the year."
Old Second Q2 Net Interest Margin Rises to 5.23%
Reports Q2 net interest margin 5.23% vs. 5.14% in the previous quarter and 4.85% a year ago. Tangible book value per share was $14.77 from $14.35 at previous quarter end. CEO Jim Eccher said, "Old Second reported strong results in Q2 led by exceptional revenue and margin performance and disciplined operating efficiency. Tangible book value per share exhibited double-digit percentage growth on an annualized basis despite the repurchase of 732,000 shares during the quarter. Nonperforming, classified and criticized assets all decreased meaningfully during the second quarter, and we believe we are adequately reserved for any future losses with an Allowance for Credit Losses on loans to total loans of 1.34% and ACL to nonperforming loans of 124.60%...Overall results are exceptionally strong across the board, despite a relatively elevated level of net charge-offs, with Q2 return on average assets and return on average tangible common equity of 1.65% and 15.58%, respectively....This strong bottom-line performance and a well-positioned balance sheet drove an increase in the tangible common equity capital ratio to 11.19% from 11.07% for the prior linked period. We are proud of our performance both from a bottom-line perspective and in positioning ourselves to deliver even better results to our stockholders over the last half of the year."
Old Second Reports Q1 Revenue of $93.7M, Beating Expectations
Reports Q1 revenue $93.7M, consensus $80.9M. Provision for credit losses of $9.5 million compared to $3.0 million. CEO Jim Eccher said "Old Second reported strong results in the first quarter of 2026 led by exceptional margin performance and disciplined operating efficiency. Tangible book value per share increased by 1.63% on a linked quarter basis despite the reduction to equity from our stock repurchases of $23.1 million, or 1.2 million shares, during the quarter. Nonperforming assets increased due to a few larger relationships, but we believe we are adequately reserved for any future losses with an Allowance for Credit Losses on loans to total loans of 1.39% and ACL to nonperforming loans of 95.53%. Credit deterioration in the first quarter largely resulted from one downtown Chicago office credit and one cash-flow-dependent commercial relationship. Otherwise results remain solid with first quarter return on average assets and return on average common equity of 1.51% and 11.43%, respectively. The tax equivalent net interest margin expanded to 5.14% and the efficiency ratio was a very healthy 52.40%. This strong bottom-line performance and a well-positioned balance sheet drove an increase in the tangible common equity capital ratio to 11.07% from 11.02% for the prior linked period. We are proud of our performance from both a bottom-line perspective and in positioning ourselves to deliver better results to our stockholders over the remainder of the year."
Old Second Reports Q4 Net Interest and Dividend Income of $83.1M
Net interest and dividend income was $83.1M for the fourth quarter of 2025, reflecting an increase of $276,000, or 0.3%, from the third quarter of 2025, and an increase of $21.5M, or 34.9%, from the fourth quarter of 2024. Chairman, President and Chief Executive Officer Jim Eccher said "Old Second concluded a great year with an extremely strong fourth quarter. Core earnings have exhibited very strong growth in recent periods and profitability remains among the best in the industry with return on average assets of 1.75% and return on average tangible equity of 17.23%, both excluding acquisition related purchase accounting and deal costs. The tax equivalent net interest margin has remained resilient and impressive at 5.09% and the adjusted efficiency ratio was a very healthy 51.28%. This strong bottom-line performance and a well-positioned balance sheet drove an increase in the tangible common equity capital ratio to 11.02% from 10.04% last year end and tangible book value per share increased by 14% in 2025 despite the dilution associated with a meaningful acquisition."
Old Second Bancorp announces Q3 adjusted EPS of 52 cents, surpassing consensus estimate of 51 cents.
Reports Q3 tangible book value per share $13.51. Reports Q3 CET1 capital ratio 12.44%. Chairman, president and CEO Jim Eccher said "On July 1, 2025, we acquired Bancorp Financial, Inc., a $1.4 billion bank holding company headquartered in Oak Brook, Illinois and its subsidiary bank, Evergreen Bank Group. We are extremely excited to welcome Evergreen Bank customers and employees to the Old Second team and pleased to deliver solid core business results in the first quarter inclusive of the acquisition. We are very encouraged about the trends and momentum in both our new and existing businesses including strong loan growth, encouraging pipelines and excellent core profitability. The systems integration of the two companies was completed without significant disruption and we continue to believe the combination will deliver exceptional value in the years ahead. Our initial estimates on earnings accretion at the announcement of the transaction appear conservative as asset yields are exceeding our expectations and our teams are continuing to make progress on operational efficiencies. We believe that the combination is exceptionally rare, for its size, in that book value dilution was relatively minimal and the deal itself substantially improves both our interest rate sensitivity position and already strong profitability. Third quarter return on average assets and return on average tangible common equity, adjusted to exclude acquisition related purchase accounting and deal costs, were 1.61% and 16.69%, respectively, the tax equivalent net interest margin was impressive at 5.05% and the efficiency ratio was a very healthy 52.10%."
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