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Dec 31, 2024
Old Second Q1 2025 Earnings Report
Old Second Bancorp, Inc. reported strong first quarter 2025 results, with net income increasing to $19.8 million and diluted EPS at $0.43.
Key Takeaways
Old Second Bancorp, Inc. reported a net income of $19.8 million, or $0.43 per diluted share, for the first quarter of 2025. This represents an increase from the fourth quarter of 2024 but a decrease compared to the first quarter of 2024. Adjusted net income was $20.6 million, or $0.45 per diluted share.
Net income increased by $720,000 compared to the fourth quarter of 2024, primarily due to a decrease in provision for credit losses and interest expense.
Adjusted net income for Q1 2025 was $20.6 million, an increase of $639,000 from the adjusted net income of Q4 2024.
Net interest and dividend income for Q1 2025 was $62.9 million, reflecting a 2.1% increase from Q4 2024 and a 5.2% increase from Q1 2024.
Total loans decreased by $41.1 million compared to December 31, 2024, and by $29.2 million compared to March 31, 2024, primarily due to paydowns in commercial, commercial real estate-owner occupied, and multifamily loans.
Old Second
Old Second
Old Second Revenue by Segment
Revenue by Segment
Wealth management Revenue
CapyFin.comService charges on deposits Revenue
CapyFin.comSecondary mortgage fees Revenue
CapyFin.comMortgage servicing income Revenue
CapyFin.comNet gain on sales of mortgage loans Revenue
CapyFin.comCard related income Revenue
CapyFin.comOther income Revenue
CapyFin.comMSRs mark to market (loss) gain Revenue
CapyFin.comChange in cash surrender value of BOLI Revenue
CapyFin.com Forward Guidance
The company anticipates continued strong performance, driven by strategic acquisitions and disciplined operations, despite potential market fluctuations and economic challenges.
Positive Outlook
- Anticipated strategic and financial benefits from the merger with Bancorp Financial, Inc.
- Continued focus on disciplined operating efficiency and strong margin performance.
- Enhancement of consumer lending capabilities and diversification of revenue streams through acquisitions.
- Strengthening of competitive position in Chicago.
- Commitment to building the best bank possible for customers and communities.
Challenges Ahead
- Potential impact of the strength of the United States economy and local economies.
- Risks related to delinquencies, charge-offs, and adverse changes in asset quality in the loan portfolio.
- Uncertainties regarding changes in legislation, regulation, policies, or administrative practices.
- Adverse conditions in the stock market and capital markets, including interest rate fluctuations.
- Potential destabilizing effects from events beyond control such as trade disputes, epidemics, war, or cybersecurity incidents.