Old Second Bancorp, Inc.
- Open
- 23.51
- Day high
- 23.82
- Day low
- 23.49
- Prev close
- 23.88
- Volume
- 457K
- Mkt cap
- $1.2B
- P/E (TTM)
- 13.9
- EPS (TTM)
- $1.70
- P/B
- 1.4
- P/S
- 2.9
- Yield
- 1.14%
- Per share
- $0.27
- ▼Insiders net selling -$1.2M over the last 3 months (1 open-market buy, 5 sales)
- 🏛Institutions mixed (13F)
Old Second Bancorp, Inc. (OSBC) is a Financial Services company listed on NASDAQ. The stock is up 28% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 5 sales (SEC Form 4).
Old Second Bancorp, Inc. (OSBC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OSBC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.52 | $0.49 | -5.8% | $94M | +0.6% |
| Jan 28, 2026 | $0.53 | $0.44 | -17.0% | $95M | +15.4% |
| Oct 22, 2025 | $0.51 | $0.53 | +3.9% | $94M | +13.6% |
| Jul 23, 2025 | $0.49 | $0.48 | -2.0% | $74M | -5.2% |
| Apr 23, 2025 | $0.46 | $0.45 | -2.2% | $72M | +18.3% |
| Jan 22, 2025 | $0.48 | $0.44 | -8.3% | $72M | +21.1% |
| Oct 16, 2024 | $0.47 | $0.50 | +6.4% | $70M | -1.2% |
| Jul 17, 2024 | $0.47 | $0.48 | +2.1% | $69M | -1.5% |
| Apr 17, 2024 | $0.47 | $0.47 | +0.0% | $69M | -1.1% |
| Jan 24, 2024 | $0.54 | $0.40 | -25.9% | $69M | -6.0% |
| Oct 18, 2023 | $0.53 | $0.54 | +1.9% | $72M | -1.7% |
| Jul 19, 2023 | $0.53 | $0.56 | +5.7% | $71M | -3.5% |
OSBC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 26, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Sell | 5,120 | $21.12 |
| May 21, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Sell | 10,000 | $21.12 |
| May 12, 2026 | Lyons Billy J Jr.director | Buy | 24 | $20.90 |
| May 11, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Sell | 5,000 | $21.23 |
| May 11, 2026 | Pilmer Donaldofficer: EVP | Sell | 25,000 | $20.75 |
| May 11, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Sell | 10,000 | $21.24 |
| Mar 23, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Sell | 22,154 | $19.38 |
| Mar 4, 2026 | Pilmer Donaldofficer: EVP | Tax | 2,720 | $19.91 |
| Mar 4, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Tax | 4,228 | $19.91 |
| Mar 4, 2026 | COLLINS GARY Sdirector, officer: VICE CHAIRMAN | Grant | 14,432 | — |
| Mar 4, 2026 | Pilmer Donaldofficer: EVP | Grant | 9,201 | — |
| Mar 4, 2026 | ADAMS BRADLEY S.officer: CFO & COO | Grant | 15,657 | — |
| Mar 4, 2026 | Eccher Jamesdirector, officer: CHAIRMAN AND CEO | Grant | 43,818 | — |
| Mar 4, 2026 | ADAMS BRADLEY S.officer: CFO & COO | Tax | 4,587 | $19.91 |
| Mar 4, 2026 | Gartelmann Richard A JRofficer: EVP | Tax | 1,537 | $19.91 |
Source: OSBC SEC Form 4 filings, latest May 26, 2026. For informational purposes only — not investment advice.
See the full OSBC insider & 13F page →Old Second Bancorp, Inc. company profile
Overview
Old Second Bancorp, Inc. (NASDAQ:OSBC) is a regional bank holding company founded in 1981 and headquartered in Aurora, Illinois. The company operates through its subsidiary Old Second National Bank, which provides traditional community banking services across seven counties in the Chicago metropolitan area. Since going public in 1993, Old Second has grown through strategic acquisitions, including the notable West Suburban Bank acquisition completed in 2022. The bank currently operates 63 banking centers throughout Cook, DeKalb, DuPage, Kane, Kendall, LaSalle, and Will counties in Illinois, positioning itself as a significant community banking presence in the greater Chicago region.
Business
Old Second Bancorp operates in the regional banking industry, providing comprehensive community banking services to individuals, businesses, and organizations in the Chicago metropolitan area. The company's core business revolves around traditional banking activities: accepting deposits from customers and lending those funds to borrowers at higher interest rates, capturing the spread as profit. The bank offers a full suite of deposit products including demand deposits (checking accounts), NOW accounts, money market accounts, savings accounts, time deposits (certificates of deposit), individual retirement accounts, and specialized accounts for businesses. These deposits form the primary funding source for the bank's lending operations. On the lending side, Old Second provides commercial loans to businesses for working capital and expansion, commercial real estate loans for property acquisition and development, construction loans for building projects, and lease financing arrangements. The bank also offers consumer lending products including residential mortgages (both first and second mortgages), home equity lines of credit, auto loans, home improvement loans, signature loans, and agricultural loans. Beyond traditional banking, Old Second provides wealth management and trust services, safe deposit boxes, cash management solutions for corporate clients (including remote deposit capture, wire transfers, and automated clearing house services), and investment services. The bank also offers modern conveniences like online and mobile banking, debit and credit cards, and ATM access. The company generates revenue primarily through net interest income (the difference between interest earned on loans and paid on deposits), which typically represents about 75-80% of total revenue, with the remainder coming from fee-based services, wealth management, and other banking services.
Revenue model
Old Second Bancorp generates revenue through two primary channels: net interest income and non-interest income. Net interest income, which constitutes the majority of revenue, comes from the fundamental banking business model of borrowing money from depositors at lower rates and lending it to borrowers at higher rates. The bank pays interest on customer deposits and earns interest on loans, with the spread between these rates (net interest margin) being the core profit driver. The bank's paying customers include individual consumers seeking personal banking services, mortgages, and consumer loans; small and medium-sized businesses requiring commercial loans, cash management services, and business banking; commercial real estate developers and investors needing construction and property financing; and high-net-worth individuals utilizing wealth management and trust services. Non-interest income comes from various fee-based services including wealth management fees, service charges on deposit accounts, loan origination fees, cash management service fees, and investment advisory services. This diversified revenue stream helps stabilize earnings during periods of margin compression. Several factors significantly impact Old Second's profitability margins. Interest rate movements are the most critical factor - rising rates generally benefit the bank's net interest margin as loan rates typically adjust faster than deposit costs, while falling rates compress margins. Credit quality directly affects profitability through loan loss provisions and charge-offs, with economic downturns potentially requiring significant reserves. Competition from other banks and credit unions affects both deposit costs and loan pricing power. Regulatory changes can increase compliance costs and capital requirements. Economic conditions in the Chicago metropolitan area influence loan demand, credit quality, and deposit flows, while deposit mix changes (such as customers moving from low-cost checking to higher-cost time deposits) directly impact funding costs.
Competitive moat
Old Second Bancorp operates in the highly competitive regional banking sector with limited structural moats. The company's primary competitive advantages stem from its established market presence in the Chicago metropolitan area, where it has operated for over four decades and built strong customer relationships through its 63 banking locations. This local market knowledge and community ties provide some protection against larger national banks that may lack the same level of local expertise and customer intimacy. The bank's deposit franchise represents its strongest moat component, as customer relationships in banking tend to be sticky due to the inconvenience of switching banks and the trust factor involved in financial relationships. However, this moat is relatively weak compared to other industries, as banking products are largely commoditized and customers can easily compare rates and services online. Old Second faces significant competitive pressures from multiple directions. Larger regional and national banks like JPMorgan Chase, Bank of America, and Wells Fargo have superior scale, technology resources, and can offer more competitive pricing. Credit unions operate with tax advantages and can often provide better rates to consumers. Fintech companies are increasingly disrupting traditional banking services with more convenient digital offerings, particularly in payments, lending, and wealth management. Online banks can offer higher deposit rates due to lower overhead costs. The regulatory environment also limits Old Second's moat strength, as banking regulations ensure that competitors can offer similar products and services, and capital requirements prevent the bank from taking excessive risks to generate outsized returns. The company's moderate size ($5.7 billion in assets) places it in a challenging position - too small to achieve the scale efficiencies of mega-banks but too large to maintain the nimbleness of smaller community banks. This positioning makes Old Second vulnerable to both larger competitors with better resources and smaller competitors with more personalized service.
Risks & safety
Old Second Bancorp presents a moderate margin of safety with manageable financial risks but some vulnerability to economic cycles and interest rate changes. • Liquidity and Solvency: The bank maintains adequate liquidity with $52.7 million in cash and short-term investments as of Q1 2025, though this represents only 0.9% of total assets. Debt-to-equity ratio of 0.18 indicates conservative leverage. The bank is profitable with positive operating cash flow of $17.8 million in Q1 2025. • Capital Adequacy: Tangible equity ratio of 10.14% and Common Equity Tier-1 ratio of 12.86% exceed regulatory minimums, providing adequate capital buffers. The bank has been building capital in recent quarters. • Valuation Metrics: Trading at P/E ratio of 9.4x and price-to-book ratio of 1.08x, suggesting reasonable valuation. EV/EBITDA of 7.1x is moderate for a regional bank. • Credit Risk: Significant improvement in asset quality with substandard and criticized loans decreasing 42% year-over-year. Non-performing assets down 27% since year-end 2024. However, the bank operates in cyclical industry subject to economic downturns. • Interest Rate Sensitivity: Net interest margin of 4.88% provides some cushion, but management expects 4 basis points of margin compression per rate cut, creating earnings volatility risk. • Regulatory Risk: As a regulated bank, subject to potential changes in capital requirements and compliance costs.
Recent development
Over the past few years, Old Second Bancorp has undergone significant strategic transformation focused on balance sheet optimization and credit quality improvement. The most notable development has been the dramatic improvement in asset quality, with management successfully reducing substandard and criticized loans from a peak of $300 million to $187.6 million by Q3 2024, representing a 42% year-over-year decrease. This credit remediation effort included resolving problematic Chicago office real estate exposures and California healthcare facility loans that had caused significant charge-offs. The bank has been actively building commercial loan origination capabilities while maintaining disciplined underwriting standards focused on risk-adjusted returns. Management has expressed confidence in achieving mid-single-digit loan growth, with loan pipelines reaching their highest levels in 18 months by Q2 2024. The company has also been strategic about portfolio management, continuing to reduce its purchased participation portfolio while growing organically originated loans. Capital management has been another key focus area, with the bank increasing its dividend by 20% in Q3 2024 and building capital ratios to support future growth and potential acquisitions. The tangible equity ratio improved to over 10%, and management has indicated openness to share buybacks and merger opportunities. Looking forward, Old Second is preparing for a strategic merger with Evergreen Bank Group, which is expected to contribute to future profitability and operational efficiency. Management has also expressed interest in potential acquisitions of banks in the $500 million to $4 billion asset range, indicating a growth-oriented strategy. The bank continues to invest in technology and digital banking capabilities while maintaining its community banking focus in the Chicago metropolitan market.
OSBC company profile · for informational purposes only — not investment advice.
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