Financial Performance - Net income for the fourth quarter of 2024 was $19.1 million, a decrease of $3.8 million from the third quarter of 2024, but an increase of $885,000 from the fourth quarter of 2023[1]. - Adjusted net income for the fourth quarter of 2024 was $20.3 million, down $3.0 million from the previous quarter, and up $1.2 million year-over-year[4]. - Net income for the year ended December 31, 2024, was $85,264 thousand, compared to $91,729 thousand in 2023, a decline of approximately 7.1%[57]. - Basic earnings per share for Q4 2024 was $0.42, up from $0.40 in Q4 2023, representing a growth of 5%[57]. - Basic earnings per share (GAAP) for Q4 2024 was $0.42, compared to $0.55 in Q3 2023, a decline of approximately 23.6%[61]. - Adjusted diluted earnings per share (non-GAAP) for Q4 2024 was $0.44, compared to $0.51 in Q3 2024 and $0.42 in Q4 2023[63]. Income and Revenue - Net interest and dividend income increased to $61.6 million in the fourth quarter of 2024, reflecting a 1.7% increase from the third quarter of 2024 and a 0.6% increase from the fourth quarter of 2023[4]. - Noninterest income rose to $11.6 million, a 9.7% increase from the third quarter of 2024 and a 33.0% increase from the fourth quarter of 2023[4]. - Total noninterest income increased to $11,610 thousand in Q4 2024 from $8,729 thousand in Q4 2023, a rise of approximately 33.5%[57]. - Noninterest income increased by $2.9 million, or 33.0%, in Q4 2024 compared to Q4 2023, primarily due to a rise in residential mortgage banking revenue[21][22]. Expenses - Noninterest expense was $44.3 million, an increase of 12.8% from the third quarter of 2024 and 19.7% from the fourth quarter of 2023[4]. - Total noninterest expense rose to $44,322 thousand in Q4 2024, compared to $37,026 thousand in Q4 2023, an increase of about 19.7%[57]. - The increase in noninterest expense in Q4 2024 was driven by a $937,000 increase in salaries and employee benefits, primarily due to higher year-end accruals[27]. - Legal fees increased by $458,000 in Q4 2024 due to loan-related legal costs, contributing to the overall rise in noninterest expenses[27]. Loans and Credit Quality - The provision for credit losses was $3.5 million in the fourth quarter of 2024, compared to $2.0 million in the third quarter of 2024 and $8.0 million in the fourth quarter of 2023[4]. - Nonperforming loans decreased to $30.3 million at December 31, 2024, down from $52.3 million at September 30, 2024, and $68.8 million at December 31, 2023[9]. - Total loans were $3.98 billion at December 31, 2024, a decrease of $9.7 million from the previous quarter and $61.6 million year-over-year[9]. - The allowance for credit losses on loans was $43.6 million as of December 31, 2024, representing 1.1% of total loans, consistent with the previous quarters[38]. - Nonperforming loans to total loans ratio improved to 0.8% as of December 31, 2024, down from 1.3% at September 30, 2024, and 1.7% at December 31, 2023[33]. Assets and Deposits - Total assets increased to $5,664.7 million as of December 31, 2024, compared to $5,615.1 million in the previous quarter[11]. - Total deposits increased by $303.3 million, or 6.8%, to $4.77 billion as of December 31, 2024, primarily due to the acquisition of FRME's five Illinois branches[45]. - Total deposits increased to $4,768,731 thousand, up from $4,570,746 thousand, reflecting a growth of approximately 4.33%[55]. - The securities available-for-sale portfolio totaled $1.16 billion as of December 31, 2024, a decrease of $29.2 million from Q3 2024 and $31.1 million from Q4 2023[31]. Tax and Efficiency - The effective tax rate for the fourth quarter of 2024 was 24.68%, compared to 23.11% in the third quarter of 2024 and 26.92% in the fourth quarter of 2023[7]. - The efficiency ratio (GAAP) for Q4 2024 was 57.12%, up from 53.38% in Q3 2024 and 50.82% in Q4 2023[27]. - Efficiency ratio for Q4 2024 was 57.12%, compared to 53.38% in Q3 2024 and 50.82% in Q4 2023, indicating a decline in operational efficiency[64]. Other Notable Points - The company recorded a $1.7 million OREO valuation reserve expense in Q4 2024 based on valuation write-downs on two OREO properties[28]. - The company declared dividends of $0.06 per share in Q4 2024, up from $0.05 per share in Q4 2023, reflecting a 20% increase[57]. - The company experienced a significant increase in construction classified loans, which rose by 235.7% to $19.4 million from September 30, 2024[35].

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...

Analysts on Wall Street project that Old Second Bancorp (OSBC) will announce quarterly earnings of $0.49 per share in its forthcoming report, representing an increase of 16.7% year over year. Revenues are projected to reach $69.85 million, declining 0.2% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a company' ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 000-10537 (Exact name of Registrant as specified in its charter) Delaware 36-3143493 (State or other jurisdiction (I.R.S. Emp ...

Core Insights - Old Second Bancorp (OSBC) reported a revenue of $71.16 million for the quarter ended September 2024, reflecting a decrease of 2.4% year-over-year, while EPS was $0.51 compared to $0.55 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 0.30%, and the EPS surpassed the consensus estimate by 6.25% [1] Financial Performance Metrics - Net Interest Margin stood at 4.6%, matching the three-analyst average estimate [3] - Efficiency Ratio was reported at 53.4%, slightly above the average estimate of 53% [3] - Total interest earning assets averaged $5.22 billion, below the two-analyst average estimate of $5.26 billion [3] - Total noninterest income was $10.58 million, slightly below the average estimate of $10.62 million [3] - Wealth management income was $2.79 million, compared to the average estimate of $2.81 million [3] - Service charges on deposits amounted to $2.65 million, exceeding the average estimate of $2.52 million [3] - Other income reached $1.60 million, significantly above the average estimate of $0.93 million [3] - Net gain on sales of mortgage loans was $0.51 million, above the average estimate of $0.47 million [3] - Change in cash surrender value of BOLI was $0.86 million, exceeding the average estimate of $0.81 million [3] - Card related income was $2.59 million, slightly below the average estimate of $2.62 million [3] - Net interest and dividend income totaled $76.07 million, significantly above the average estimate of $60.28 million [3] - Net Interest Income (FTE) was reported at $60.93 million, slightly above the average estimate of $60.71 million [3] Stock Performance - Shares of Old Second Bancorp have declined by 4.5% over the past month, contrasting with the Zacks S&P 500 composite's increase of 3.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Old Second Bancorp (OSBC) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this financial holding company would post earnings of $0.48 per share when it actually produced earnings of $0.46, delivering a surprise of -4.17%. Over the last four ...

Wall Street analysts forecast that Old Second Bancorp (OSBC) will report quarterly earnings of $0.48 per share in its upcoming release, pointing to a year-over-year decline of 12.7%. It is anticipated that revenues will amount to $70.95 million, exhibiting a decline of 2.7% compared to the year-ago quarter. The current level reflects a downward revision of 1.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappra ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Old Second Bancorp (OSBC) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Oct ...

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Shares of Old Second Bancorp have returned +18.9% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. The reported revenue represents a surprise of +1.12% over the Z ...

Old Second Bancorp (OSBC) came out with quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items. Old Second Bancorp, which belongs to the Zacks Banks - Midwest industry, posted revenues of $70.82 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $71.8 million. The company has topped c ...