Company profile

Ticker
OSBC
Exchange
CEO
James L. Eccher
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
363143493

OSBC stock data

(
)

Calendar

11 May 20
6 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 27.45M 27.67M 29.44M 29.59M
Net income 275K 9.54M 12.17M 9.28M
Diluted EPS 0.01 0.32 0.4 0.31
Net profit margin 1.00% 34.47% 41.34% 31.36%
Net change in cash 22.51M -3.41M -4.18M 17.88M
Cash on hand 73.14M 50.63M 54.04M 58.22M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 115.59M 107.62M 87.51M 73.38M
Net income 39.46M 34.01M 15.14M 15.68M
Diluted EPS 1.3 1.12 0.5 0.53
Net profit margin 34.13% 31.60% 17.30% 21.37%
Net change in cash -4.6M -598K 8.5M 7M
Cash on hand 50.63M 55.24M 55.83M 47.33M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
30 Jun 20 Collins Gary S Old Second Bancorp, Inc. Common Stock Grant Aquire A No 0 1 0 891
30 Jun 20 Gottschalk Keith Old Second Bancorp, Inc. Common Stock Grant Aquire A No 0 1 0 378
30 Jun 20 Gottschalk Keith Old Second Bancorp, Inc. Common Stock Grant Aquire A No 0 2 0 1,114
30 Jun 20 Pilmer Donald Old Second Bancorp, Inc. Common Stock Grant Aquire A No 0 6 0 2,984
30 Jun 20 Eccher James Old Second Bancorp, Inc. Common Stock Buy Aquire P No 0 83 0 22,159
30 Jun 20 Eccher James Old Second Bancorp, Inc. Common Stock Buy Aquire P No 0 7 0 4,521
1 May 20 Eccher James Old Second Bancorp, Inc. Common Stock Buy Aquire P No 8.31 9,966 82.82K 22,076
1 May 20 Eccher James Old Second Bancorp, Inc. Common Stock Buy Aquire P No 8.13 2,067 16.8K 4,514
71.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 118 120 -1.7%
Opened positions 14 17 -17.6%
Closed positions 16 12 +33.3%
Increased positions 39 46 -15.2%
Reduced positions 48 33 +45.5%
13F shares
Current Prev Q Change
Total value 209.01M 375.87M -44.4%
Total shares 21.32M 20.94M +1.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 2.06M $14.25M +0.2%
Banc Funds 2.03M $14.03M -6.7%
Vanguard 1.39M $9.58M +2.0%
Renaissance Technologies 1.15M $7.92M -5.7%
FJ Capital Management 1.12M $7.76M +12.4%
Dimensional Fund Advisors 1.09M $7.53M +0.9%
Manufacturers Life Insurance Company, The 1.05M $7.22M +13.3%
Wellington Management 965.25K $6.67M +29.4%
THB Asset Management 863.3K $5.97M -11.2%
FMR 829.04K $5.73M NEW
Largest transactions
Shares Bought/sold Change
FMR 829.04K +829.04K NEW
Elizabeth Park Capital Advisors 343.32K -248.59K -42.0%
Castine Capital Management 482.56K -235.05K -32.8%
Wellington Management 965.25K +219.04K +29.4%
Banc Funds 2.03M -145.16K -6.7%
FJ Capital Management 1.12M +124K +12.4%
Manufacturers Life Insurance Company, The 1.05M +122.41K +13.3%
THB Asset Management 863.3K -108.66K -11.2%
Millennium Management 0 -105.66K EXIT
Acadian Asset Management 157.62K +100.14K +174.2%

Financial report summary

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Risks
  • Our business may be adversely affected by economic conditions.
  • Nonperforming assets take significant time to resolve, adversely affect our results of operations and financial condition and could result in further losses in the future.
  • Our loan portfolio is concentrated heavily in commercial and residential real estate loans, including exposure to construction loans, which involve risks specific to real estate values and the real estate markets in general.
  • Real estate market volatility and future changes in disposition strategies could result in net proceeds that differ significantly from our fair value appraisals of loan collateral and OREO and could negatively impact our operating performance.
  • If we fail to effectively manage credit risk, our business and financial condition will suffer.
  • Our allowance for loan and lease losses, or ALLL, and fair value adjustments with respect to acquired loans, may be insufficient to absorb potential losses in our loan portfolio, which may adversely affect our business, financial condition and results of operations.
  • New accounting standards could require us to increase our allowance for loan and lease losses and may have a material adverse effect on our financial condition and results of operations.
  • Our business is geographically concentrated in several counties in Illinois, which makes our business highly susceptible to downturns in these local economies.
  • We operate in a highly competitive industry and market area and may face severe competitive disadvantages.
  • Failure to keep pace with technological change could adversely affect our business.
  • Our strategic growth plans contemplate additional organic growth and potential growth through additional mergers and acquisitions, which exposes us to additional risks.
  • We may be exposed to difficulties in combining the operations of acquired or merged businesses into our own operations, which may prevent us from achieving the expected benefits from our merger and acquisition activities.
  • Uncertainty relating to the London Inter-bank Offered Rate, or LIBOR, calculation process and potential phasing out of LIBOR may adversely affect us.
  • Changes in U.S. trade policies and other factors beyond our control, including the imposition of tariffs and retaliatory tariffs and the impacts of epidemics or pandemics, may adversely impact our business, financial condition and results of operations.
  • We are a community bank and our ability to maintain our reputation is critical to the success of our business and the failure to do so may materially adversely affect our performance.
  • We are subject to interest rate risk, and a change in interest rates could have a negative effect on our net income.
  • Our business needs and future growth may require us to raise additional capital, but that capital may not be available or may be dilutive.
  • We may not be able to maintain a strong core deposit base or access other low-cost funding sources.
  • Our estimate of fair values for our investments may not be realizable if we were to sell these securities today.
  • We may be materially and adversely affected by the highly regulated environment in which we operate.
  • Monetary policies and regulations of the Federal Reserve could adversely affect our business, financial condition and results of operations.
  • Our accounting estimates and risk management processes and controls rely on analytical and forecasting techniques and models and assumptions, which may not accurately predict future events.
  • We are subject to federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
  • New lines of business, products, product enhancements or services may subject us to additional risks.
  • We could become subject to claims and litigation pertaining to our fiduciary responsibility.
  • Our trust and wealth management business may be negatively impacted by changes in economic and market conditions and clients may seek legal remedies for investment performance.
  • We depend on our executive officers and other key employees, and our ability to attract additional key personnel, to continue the implementation of our long-term business strategy, and we could be harmed by the unexpected loss of their services.
  • If we are unable to offer our key management personnel long‑term incentive compensation, including options, restricted stock, and restricted stock units, as part of their total compensation package, we may have difficulty retaining such personnel, which would adversely affect our operations and financial performance.
  • Our information systems may experience an interruption or breach in security and cyber-attacks, all of which could have a material adverse effect on our business.
  • We depend on outside third parties for the processing and handling of our records and data.
  • Our use of third party vendors and our other ongoing third party business relationships are subject to increasing regulatory requirements and attention.
  • We are at risk of increased losses from fraud.
  • We are defendants in a variety of litigation and other actions.
  • From time to time we are, or may become, involved in suits, legal proceedings, information-gatherings, investigations and proceedings by governmental and self-regulatory agencies that may lead to adverse consequences.
  • Our future ability to pay dividends is subject to restrictions.
  • The trading volumes in our common stock may not provide adequate liquidity for investors.
  • The trading price of our common stock may be subject to continued significant fluctuations and volatility.
  • Certain banking laws and our governing documents may have an anti-takeover effect.
Management Discussion
  • Our pretax losses totaled $6,000 in the first quarter of 2020 compared to pretax income of $10.9 million in the first quarter of 2019.  The decrease of $10.9 million in pretax income for the first quarter of 2020, compared to the like quarter in 2019, was primarily due to the $8.0 million provision for credit losses in the first quarter of 2020, which was impacted by both our adoption of the new CECL methodology and the expected impact, as of March 31, 2020, of the COVID-19 pandemic and market interest rate reductions, which compared to a $450,000 provision for loan and lease losses in the first quarter of 2019.  Our net income was $275,000, or $0.01 per diluted share, for the first quarter of 2020, compared to net income of $8.5 million, or $0.28 per diluted share, for the first quarter of 2019.
Content analysis ?
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