Old Second Bancorp Inc (OSBC) 10-K Annual Report March 2015



		Exhibit 99.1

Old Second Bancorp, Inc.		For Immediate Release
(NASDAQ:OSBC)		January 21, 2015

Contact:	J. Douglas Cheatham
	Chief Financial Officer
	(630) 906-5484

Old Second Reports Fourth Quarter Net Income of $3.0 million.

Net interest income increased on a linked quarter basis continuing the trend seen throughout 2014. Net interest income increased 3.3% year over year.

Improved credit quality reflected in a $1.3 million loan loss reserve release in the quarter.

Year over year noninterest expense decreased $9.5 million across several categories most notably legal fees, general bank insurance and reduced expense on other real estate owned (OREO) properties.

Loans increased $18.5 million in the 4th quarter while OREO assets declined $8.9 million. Loans increased 5.3% from year end 2013.

AURORA, IL, January 21, 2015 – Old Second Bancorp, Inc. (the “Company” or “Old Second”) (NASDAQ: OSBC), parent company of Old Second National Bank (the “Bank”), today announced financial results for the fourth quarter of 2014 and the year ended December 31, 2014. The Company reported net income of $3.0 million for the fourth quarter of 2014, compared to net income of $213,000 in the fourth quarter of 2013. The Company’s net income available to common stockholders of $1.9 million, or $0.06 per diluted share, for the quarter, compared to a net loss available to common stockholders of $1.1 million, or $0.08 per diluted share, in the fourth quarter of 2013. The full year 2014 net income available to common stockholders of $11.9 million is down from $76.8 million in 2013. The full year 2013 included a tax benefit of $70.0 million in the third quarter primarily from the reversal of a significant portion of the valuation allowance against deferred tax assets.

Financial Highlights/Overview

Fourth quarter 2014 net income before taxes increased by $4.8 million from the fourth quarter of 2013 and $116,000 from the third quarter of 2014. The increase from the fourth quarter of 2013 was driven by sharply higher gains on securities sales (a loss item in 2013), improved debit card interchange income reflecting an improving trend seen over recent quarters, and lower noninterest expense, notably legal fees and amortization expense on the core deposit intangible asset which was fully amortized in the third quarter. The small linked quarter increase reflects improved net interest income and the 4th quarter 2014 loan loss reserve release offset by reduced levels in many noninterest income categories most notably net gains on securities sales.

Fourth quarter 2014 net income available to common stockholders was $1.9 million compared to a net loss of $1.1 million for the fourth quarter 2013. On a linked quarter basis, fourth quarter net income available to common stockholders is essentially unchanged from the 2014 third quarter of 2014.

The following information was filed by Old Second Bancorp Inc (OSBC) on Wednesday, January 21, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/357173/000035717315000010/osbc-20141231x10k.htm

View differences made from one year to another to evaluate Old Second Bancorp Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Old Second Bancorp Inc.

Continue

Assess how Old Second Bancorp Inc's management team is paid from their Annual Proxy

Old Second Bancorp Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Old Second Bancorp Inc provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: OSBC
CIK: 357173
Form Type: 10-K Annual Report
Accession Number: 0000357173-15-000010
Submitted to the SEC: Thu Mar 12 2015 10:09:47 AM EST
Accepted by the SEC: Thu Mar 12 2015
Period: Wednesday, December 31, 2014
Industry: State Commercial Banks

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/osbc/0000357173-15-000010.htm

Old Second Bancorp Inc (OSBC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

SEC Filings

OSBC Valuations

OSBC Annual Reports

OSBC Quarterly Reports

OSBC Corporate News

OSBC Merger Prospectus