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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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