Old Second ( (OSBC) ) has released its Q1 earnings. Here is a breakdown of the information Old Second presented to its investors.
Old Second Bancorp, Inc., a financial institution operating primarily in the banking sector, has reported its financial results for the first quarter of 2025. The company, which is the parent of Old Second National Bank, is known for its focus on providing banking services and its strategic acquisitions to enhance its market position.
In the first quarter of 2025, Old Second Bancorp reported a net income of $19.8 million, or $0.43 per diluted share, marking a slight increase from the previous quarter but a decrease compared to the same period last year. The company’s adjusted net income, excluding certain nonrecurring items, was $20.6 million. The financial results reflect a decrease in interest expense and provision for credit losses, offset by declines in interest and dividend income and noninterest income.
Key financial metrics for the quarter included a net interest income of $62.9 million, an increase from both the previous quarter and the same quarter last year. The company also reported a decrease in noninterest income to $10.2 million and an increase in noninterest expenses to $44.5 million. The bank’s efficiency ratio improved slightly, and its net interest margin showed growth, reflecting disciplined management of costs and strategic asset management.
Looking ahead, Old Second Bancorp remains focused on enhancing its market position through strategic acquisitions, such as the recent agreement to acquire Evergreen Bank Group. The company aims to leverage these acquisitions to diversify its revenue streams and strengthen its competitive position in the Chicago area, with a continued emphasis on delivering value to stockholders.