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Mar 31, 2023
Old Second Q1 2023 Earnings Report
Reported net income with no material change compared to the previous quarter and an increase compared to the same quarter last year.
Key Takeaways
Old Second Bancorp, Inc. reported a net income of $23.6 million, or $0.52 per diluted share, for the first quarter of 2023. The company's net interest margin increased by 186 basis points compared to the first quarter of 2022. Loans increased $133.7 million in the first quarter.
Net income was $23.6 million, or $0.52 per diluted share.
Adjusted net income was $23.4 million, or $0.52 per diluted share.
Net interest and dividend income was $64.1 million.
Noninterest income was $7.4 million.
Old Second
Old Second
Forward Guidance
Old Second plans to reduce high cost debt, evaluate share repurchase opportunities, and optimize the earning asset mix to fund loan growth.