Old Second Bancorp(US:OSBC) ZACKSยท2024-10-16 23:01Core 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]